PLDT eyes $40-M cable landing, data center in Mindanao

 Economy
Oct 202015
 
PLDT eyes $40-M cable landing, data center in Mindanao

MANILA, Philippines – Philippine Long Distance Telephone Co. (PLDT) is looking to invest about $40 million for a cable landing station and data center in Mindanao to boost its network. Eric Alberto, executive vice president and head of enterprise at PLDT and Smart Communications Inc., said the company wants a cable landing facility and data center in Mindanao within the next two to three years. He said the company may invest a minimum $40 million for the cable landing station and data center in Mindanao. The final amount would depend on what is agreed upon with telecommunication firms from Indonesia, Brunei and Malaysia. “We are looking at a variety of consortium, with the Indonesian, Bruneian and Malaysian telcos… We have about two or three options. We are finding out which is the most feasible for us,” Alberto said. The cable landing station would link to Japan and then to the US. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The company is looking to invest in a cable landing station and data center in Mindanao to augment existing facilities in Luzon. The company has cable landing stations in Nasugbu in Batangas, Bauang in La Union, and in Daet, Camarines Norte. PLDT has earlier injected $55 million to the $550-million Asia-America Gateway project in La Union involving a 20,000-kilometer undersea cable network. The project connects Malaysia, Singapore, Thailand, Brunei Darussalam, Vietnam, Hong Kong, the Philippines, Guam, Hawaii, and the US West Coast using 40 gigabits per second (Gbps) technology and Read More …

Northern Mindanao targets 3.2 M tourists this year

 Economy
Oct 202015
 
Northern Mindanao targets 3.2 M tourists this year

MANILA, Philippines – Northern Mindanao is banking on festivals and conventions in the remaining months of 2015 to reach its target of 3.2 million tourist arrivals by year-end, a ranking tourism official said. Department of Tourism Region 10 director Catalino Chan III said the region is close to reaching its 12 percent growth projection this year after posting two million arrivals from January to July. In 2014, Northern Mindanao recorded 2.9 million arrivals, 32 percent of which are foreign tourists. Despite the recent Samal kidnapping case in the neighboring Davao region, Chan said he is upbeat the region will catch up with the remaining 1.2 million target as around five festivals and two major conventions are still lined up until December. “We increase more on our festivals because it’s the best way for people to be entertained in our place,” he said. Chan added Northern Mindanao greatly depends on the agricultural ecotourism in Bukidnon and adventure sites in Cagayan de Oro, which is now one of the top 10 destinations in the country. Meanwhile, the region also considers proposing new flights for the Laguindingan Airport to further sustain tourist arrivals, particularly from the Korean market. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said infrastructure in the region can support tourist inflow as one big hotel is set for opening and another eyes construction next year. Furthermore, DOT-accredited establishments in the region increased 32 percent, from 2,900 rooms in 2014 to this year’s approximately 4,000 rooms, in its Read More …

OECD final report on Base Erosion and Profit Shifting (BEPS) — Overview

 Economy
Oct 182015
 

(First of two parts) On Oct. 5, 2015, the Organisation for Economic Co-operation and Development (OECD) issued the final report on all 15 BEPS Action Plans. This caps two years of work started in September 2013, when G20 Leaders endorsed the ambitious and comprehensive Action Plan on BEPS, to restore confidence in the international tax framework which was designed more than a century ago.

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