Maniolas

MANILA, Philippines – Manila Electric Co. subsidiary MRAIL Inc. and the International Container Terminal Services Inc. (ICTSI) are considering reviving a plan to build a P10 billion container rail service to provide more efficient movement of goods and help decongest ports and roads. MRAIL is also interested in undertaking the Mindanao Rail project mentioned by President Rodrigo Duterte during his first State of the Nation Address (SONA). Ferdinand Inacay, president and CEO of MRAIL, told reporters yesterday that the company together with ICTSI intends to pursue the proposed railway project. The railway service from Manila to Calamba, was operated by ICTSI from 1998 but was suspended in 2002. Under the proposal, the first phase involves reviving the connection from Manila to Calamba by linking  Manila International Container Terminal and Laguna Gateway Inland Container Terminal,  both operated by ICTSI. For the rail service, MRAIL will own the trains which will use the tracks of the Philippine National Railways for a fee. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The rail service involves the rehabilitation of the existing PNR tracks, restoring the Tutuban to the Port of Manila tracks that traverse through the center of C.M. Recto Ave., and the construction of the stabling yard in Calamba for the container trains. Inacay said it would take two years to implement the project from contract signing and start of rehabilitation work. He said they are hopeful their proposal would be approved and rehabilitation works could start by the fourth quarter this Read More …

HEIGHTENED de-risking among foreign correspondent banks likely led to slower growth in monthly remittance inflows, a senior central bank official said, even though more Filipinos are leaving the country to pursue jobs abroad.

This column was originally published on July 21 and is being reprinted in this issue because of a computer error that garbled parts of the originally published piece. We apologize to Mr. Villalon for the error. — Ed. Change has come even in the field of real estate broker licensure examinations.

In separate resolutions released yesterday, the 12th and 6th divisions of the appellate court directed the PCC to answer the respective petitions filed by PLDT and Globe both questioning its comprehensive review of the P70-billion acquisition deal. MANILA, Philippines – The Court of Appeals (CA) has ordered the Philippine Competition Commission (PCC) to justify its decision to investigate the buyout of the telecommunication assets of San Miguel Corp. (SMC) by industry giants PLDT Inc. and Globe Telecom Inc. In separate resolutions released yesterday, the 12th and 6th divisions of the appellate court directed the PCC to answer the respective petitions filed by PLDT and Globe both questioning its comprehensive review of the P70-billion acquisition deal. “Without necessarily giving due course to the instant petition…Philippine Competition Commission is directed to file a comment (not a motion to dismiss) within a non-extendible period of 10 days from notice and show cause why the petition with prayer for a temporary restraining order and/or preliminary injuction should not be granted,” the CA’s 12th division said in a resolution written by Associate Justice Ramon Bato Jr. on PLDT’s petition. After submission of PCC’s comment, the PLDT was also ordered by the court to submit its reply after five days before the justices decide on whether to hold hearings or submit the case for decision. The CA’s 6th division also gave the same order to PCC in the case of Globe. But it denied petitioner’s request for issuance of a temporary restraining order against PCC’s investigation. Read More …