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.

The Philippine Stock Exchange index (PSEi) gained 0.30 percent or 23.78 points to close 8,049.13, while the broader All Shares index inched up 0.27 percent or 12.95 points to settle 4,806.98. Philstar.com/File Photo MANILA, Philippines – Local share prices climbed yesterday on optimism on President Duterte’s first State of the Nation Address (SONA) which came later in the day. The Philippine Stock Exchange index (PSEi) gained 0.30 percent or 23.78 points to close 8,049.13, while the broader All Shares index inched up 0.27 percent or 12.95 points to settle 4,806.98. Analysts said all eyes were on the SONA yesterday, and investors were “positively” looking forward to what the President has to say. “The trading week begins with President Duterte’s first SONA, coming half an hour after  the market closes. Markets should be hearing for  the first time the new government’s comprehensive plan – a chance to gauge whether it is putting  money where its mouth is, so to speak,” A&A Securities research head Justino Calaycay Jr. said. With optimism running high, all local counters except for the mining and oil finished in the positive territory. Financial companies were the biggest winners, gaining 0.83 percent or 15.08 points. Mining and oil firms, however, lost 0.60 percent or 67.56 points. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Market breadth was positive as advancers pummeled decliners, 115 to 85, while 45 stocks were unchanged. Value turnover was robust at P10.18 billion. “As the index trades at all-time high amid continued net Read More …