AT LEAST nine public-private partnership (PPP) projects could be rolled out by next year, the head of the PPP Center said on Tuesday, after three of these gained approval from a government economic planning panel earlier in the week.
Dec 232014
Dec 232014
A PRIVATE SECTOR-led ports task force said container yard utilization could shoot past full capacity under a scenario where ports stakeholders close shop and allow cargo to pile up during the holiday-filled yearend period.
Dec 232014
THE PHILIPPINE AVIATION regulator has approved another extension of a 30-day authority for Middle Eastern carrier Emirates to operate a third daily service between Manila and Dubai.
Dec 232014
MANILA, Philippines – After their extraordinary adventure in 2013, which saw them smash the record for the celebrated Pikes Peak Hill Climb, Peugeot Sport, Red Bull and Total have again joined forces for another exacting yet equally exciting challenge: the Dakar. To take on the 10,000km of the world’s longest and toughest cross-country rally 25 years after the French car manufacturer last contested the event, the team has recruited Carlos Sainz and Cyril Despres. Last June’s memorable new record of 8m13.878s for the ascent of Pikes Peak confirmed that Peugeot Sport had lost none of its taste for motorsport. After emphatically showcasing its expertise on the celebrated climb’s steep, demanding course, the team could easily have contented itself with last year’s one-off foray. However, its passion for competition needed feeding with further stimulating new challenges and the next one will be the infamous Dakar. Following last year’s intense adventure in the lofty mountains of Colorado, USA, Peugeot Sport, Red Bull and Total have decided to set their sights on the wide open spaces of South America which provide the backdrop for the toughest cross-country rally of them all. Inevitably, the decision recalls a particularly successful period in the history of the French team which made an indelible mark on the Dakar by winning the legendary competition four years running from 1987 until 1990, first with the 205 T16 Grand Raid, then with the equally iconic 405 T16 Grand Raid. In between times, the Dakar has traded the dunes of northwest Read More …
Dec 222014
THE FIRST SEAPORT project to be offered under the Public-Private Partnership (PPP) scheme will be rolled out before Christmas, the Transportation chief said on Monday.
Dec 222014
PRESIDENT BENIGNO S. C. Aquino III is set to sign today the proposed P2.606 trillion budget for next year, preserving the administration’s track record of on-time budget approvals.
Dec 222014
MANILA, Philippines – Metro Pacific Investments Corp. (MPIC) is infusing P85 million in upscale property development company Landco Pacific Corp. to restructure the latter and make it more attractive for selling. In a disclosure to the stock exchange, the infrastructure conglomerate said it has entered into an agreement with Landco and its controlling shareholder to restructure and clean up the balance sheet of the company in preparation for an eventual sale to third parties. “The cash infusion will be to the extent of P85 million and conversion of receivables into equity to the extent of P79.8 million,” MPIC said. Through the agreement, MPIC said it expects to convert its preferred shares in Landco to common shares in the near future. Likewise, the conglomerate led by businessman Manuel V. Pangilinan intends to have additional subscription to non-voting preferred shares by way of cash infusion and conversion of MPIC’s receivables from LPC into equity, and spin off of non-performing assets of LPC to a separate company. “The foregoing steps will be implemented in different phases in the near future,” MPIC said.In 2010, MPIC sold 15 percent of its interest in Landco to AB Holdings Corp., reducing its equity in Landco to just 19 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Prior to that, MPIC already sold 17 percent of its stake in the property firm to AB Holdings, making the latter the majority owner with more than 80-percent interest in Landco. Landco is a developer of leisure communities, resort-inspired Read More …
Dec 222014
The year ended on a somewhat positive note – more good news than bad. For starters, we saw Manny Pacquiao rebound from losses to perk up once again as the Philippines’ pride after he beat Chris Algieri in Macau last November. Somehow, Pacquiao’s wins (or losses) are bigger news than what happens to the economy. Still, Filipinos noted with a tinge of relief how pump prices of gasoline and other fuel products have dropped quite significantly from its levels at the start of the year, thanks to more oil and gas being mined in the US and the dampening of world stockpile levels and prices. Quietly, public bus and jeepney fares and cooking gas prices were adjusted to bring a little extra pocket money for our citizens to spend this Christmas. While food prices have not reflected yet any significant price reductions, this should be seen within the next few months. Also, without too much fanfare early this month, the country received notice that credit rating agency Moody’s Investor Service has upgraded the Philippines’ credit worthiness to Baa2 status with stable outlook, which is a notch above investment grade, to affirm the continued strengthening of the local economy. Together with the expected effect of the global softening in crude prices, the credit rating upgrades with Standard & Poor’s and an expected higher ranking by Fitch Ratings should give the Philippines enough breathing room next year to make it back on track. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Read More …
Dec 222014
MANILA, Philippines – Ateneo de Manila University (ADMU) has launched an electric jeepney (e-jeepney) shuttle system within its campus. According to the Electric Vehicle Association of the Philippines (EVAP), ADMU is the first educational institution to introduce an e-jeepney transport system. The Ateneo e-jeep shuttle system is operated by Meralco Energy Inc., a subsidiary of Manila Electric Co. (Meralco). For the shuttle system’s initial operations, it would utilize four units of 14-seater e-jeeps supplied by Philippine Utility Vehicle, Inc. The shuttle system would have 11 stops within the campus. Meralco for its part, designed and put up a power charging station which would allow e-jeepneys to run for about 100 kilometers (km) after charging overnight. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The adoption of electric vehicles by ADMU follows last month’s launch of Filinvest Alabang’s own shuttle system-Filinvest 360 Eco Loop – which also utilizes e-jeepneys. “More and more private institutions are now introducing their own eco-friendly transport systems to transform their establishments into green establishments,” EVAP president Rommel Juan said. Such move, he said, is supported by the EVAP. “EVAP hopes that many other commercial and even industrial establishments will soon follow suit in operating their own environment-friendly transport solutions,” he said. He noted that e-jeepneys are easier to maintain compared to units that run on diesel-engines. “An e-jeepney costs only P4.60 per km to operate as compared to a conventional diesel-powered jeepney which costs P6.70 per km to operate,” he said.
Dec 222014
MANILA, Philippines – Ayala-led Globe Telecom Inc. and dominant carrier Philippine Long Distance Telephone Co. (PLDT) continued to expand their interconnection links in the provinces, this time allowing subscribers in Misamis Oriental to call each other without additional charges. Globe general counsel Froilan Castelo said the company continues to aggressively pursue interconnection with PLDT and other telecom providers in the provinces. Last Dec. 11, Globe’s interconnection arrangement with PLDT in Misamis Oriental was activated commercially, allowing customers of telco providers in the province to call each other without additional long distance charges. The activation brings to 27 the number of areas or provinces where Globe has established interconnection arrangement with competition. These areas include Metro Manila, Cavite, Iloilo, Capiz, Batangas, Cebu, Negros Occidental, Negros Oriental, Bohol, Leyte, Davao City, Pampanga, Bulacan, Zamboanga, Laguna, Quezon, La Union, Nueva Ecija, and Benguet, GenSan/South Cotabato , Tarlac, Davao del Norte, and Pangasinan, Ilocos Norte, Zambales, Ilocos Sur, and Misamis Oriental. “As we have previously committed, Globe has been aggressively pursuing interconnection with our counterparts. We recognize such arrangement greatly enhances the company’s dependability as a provider of cost-effective telecommunication services,” Castelo said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the absence of an interconnection deal, landline customers of Globelines and other telco providers are charged the long distance rate when making phone calls to one another. With the commercial availability of the interconnection, Globe subscribers could simply dial the seven-digit telephone number to connect with PLDT and vice-versa. Republic Act Read More …