JAPAN is extending nearly P10 billion in official development assistance (ODA) to support projects in the Philippines, the Foreign Affairs and Finance departments yesterday said in separate statements.
Mar 262015
Mar 262015
ILOILO CITY — Irregularities found in 16 land titles covering about 73 hectares of Sicogon Island are not expected to affect an Ayala Land, Inc. (ALI) project, as the resort to be developed by the company lies outside the area with questionable documentation, an official said.
Mar 262015
INFRASTRUCTURE group Metro Pacific Investments Corp. (MPIC) is not interested in bidding for the Malampaya Deep Water Gas-to-Power project should the government auction it off once the contract of the current consortium expires in 2024, its chairman said on Wednesday night.
Mar 252015
THE GOVERNMENT plans to bid out Clark Rail Transit System deal under the public-private partnership (PPP) program by year’s end, with the terms of the contract expected to be completed within the first half of the year, the Bases Conversion and Development Authority (BCDA) said.
Mar 252015
THE CONSORTIUM of Ayala Group and Metro Pacific Investments Corp. is on track to upgrade the country’s railway ticketing systems, with full commercial deployment scheduled for September this year.
Mar 252015
Exactly 11 working days from today is April 15, the last day for filing of income tax returns (ITR) for individuals and corporations operating on a calendar year basis. The number 11, according to Bible commentators, represents lawbreaking, leading to disorder, chaos and judgment, which seems like fair warning for those who choose to wait until the last moment to file their returns. It’s a strong hint for procrastinators to aim for some other date before April 15, just to be on the safe side.
Mar 252015
MANILA–Megaworld, the country’s leading integrated urban township developer and biggest office developer and landlord, posted a net income of P21.6-billion (inclusive of a P12.1-billion non-recurring gain) in 2014, 139 percent higher than in 2013. Without the non-recurring gain, net income went up by 14 percent to P9.4-billion last year – reflecting an 18 percent annual growth since 2009, when net income was P4-billion, or more than double in five years. Consolidated revenues, excluding non-recurring gain, rose by 15 percent to P41 billion with real estate sales increasing by 16 percent year-on-year to P24.6-billion and rental income growing by 17 percent to P7 billion. “Last year was a milestone for us. With Megaworld celebrating its 25th anniversary, we raked in record earnings and managed to grow our land bank to over 4,000 hectares. Our income growth last year was driven by both real estate sales and rental income. We have a more diversified real estate sales mix that is propelled by our integrated urban township developments in Metro Manila, Cebu and Iloilo as well as tourism-related projects in Tagaytay and Boracay,” said Dr. Andrew L. Tan, Megaworld chairman and CEO. “In the meantime, our rental income is growing in line with our expectations. Continued growth in our office and mall leasable space will provide the catalyst for exceeding P10-billion in rental income in 2016. Last year also saw the consolidation of Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc. (ELI) and Suntrust Properties, Inc. (SPI) under Megaworld. This enabled us Read More …
Mar 242015
MANILA, Philippines – Members of local motorcycle clubs belonging to the National Federation of Motorcycle Clubs of the Philippines, Inc. (NFMCP) will converge in Tagaytay City from April 6 to 12, 2015 for the 21st National Motorcycle Convention. An estimated 5,000 motorcyclists from more than 120 member motorcycle clubs and guest clubs are said to be gearing up for the grand event dubbed as the “Gran Vientiuno Convencion Nacional.” Hosted by the Law Enforcer Riders’ Association of the Philippines (LERAP), this year’s convention promises to be the grandest one ever with concerts, motorcycle displays, stunt shows, bike features and competitions. Bazaars and bike shows will be held from April 6 onwards at the Tagaytay Convention Center grounds while a track day will be held on April 9 at the Batangas Racing Circuit (BRC). The convention proper will commence on April 10 with the arrival of delegates from all over the Philippines and some guest delegates from Malaysia, Indonesia, Singapore, Thailand, Dubai, Australia, and more. Motorcycles for rent will be available for delegates who want to ride around the Tagaytay and Batangas venues to enjoy the scenery and the camaraderie among bikers. A brand-new 2015 Kawasaki Vulcan S will be raffled off as the grand prize. One of the highlights of the event is the simultaneous motorcycle tire burnout activity which will attempt to top the Guinness Book of World Records that currently stands at 213 motorcycles achieved by Team Harleystunts and Smokey Mountain Harley-Davidson in Maryville, Tennessee, USA in August Read More …
Mar 242015
MANILA, Philippines – Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said yesterday the manageable inflation rate and strong economic growth provide “sufficient room” for monetary officials to adjust policy settings if need arises. “Given the positive alignment between inflation growth and augmented government resources as a result of fiscal consolidation, both monetary and fiscal sectors have sufficient room to make policy adjustments as warranted,” Tetangco said during the Euromoney Philippines Investment Forum 2015 in Makati city. Inflation stood at an average rate of 2.4 percent in the first two months of the year, within the government’s two- to four-percent target for this year. Tetangco said inflation expectations remain “well-anchored.” At the same time, Tetangco said the economy is seen to continue to grow in a stable inflation environment. “The government’s target of seven- to eight-percent (growth) is attainable as domestic demand remains firm and supported by brewing production efficiency and robust labor market dynamics,” Tetangco said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Philippine economic growth decelerated to 6.1 percent last year from a strong 7.2 percent in 2013. The figure was also short of the government’s 6.5 to 7.5 percent target but was among the fastest in Asia during the period. For this year and in 2016, the government hopes to grow the economy by seven to eight percent. The central bank last month kept key policy rates steady as inflation was forecast to remain within the target bands for this year and the next. Read More …
Mar 242015
MANILA, Philippines – Smart Communications Inc., the flagship wireless arm of dominant carrier Philippine Long Distance Telephone Co. (PLDT), is set to launch a set of data bundles allowing both postpaid and prepaid subscribers to enjoy videos on their mobile devices. Charles Lim, executive vice president and Wireless Consumer Division head at Smart, said in a statement that the new data bundles would allow subscribers to watch YouTube videos as well as content from Dailymotion, Vimeo and Viewstream on their mobile phones for as low as P5. “Smart’s groundbreaking online video offer for YouTube, Vimeo, Dailymotion and Viewstream reinforces our campaign to provide more affordable access to the content our subscribers love,” Lim said. He pointed out that the company is committed to “provide users with the best content and entertainment services available at great value so that they can enjoy videos on their mobile devices anytime, anywhere.” Google Southeast Asia and India vice president and managing director Rajan Anandan said the partnership with Smart would create a more affordable way for people to watch videos on mobile “We want to make sure we are making YouTube as enjoyable as possible for our growing base of mobile users in the Philippines. We hope Filipinos will be able to enjoy a better YouTube experience across devices, either at home or on the go,” Anandan said Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This is just the latest in Smart’s bid to provide the Internet for all of its subscribers’ Read More …