Alliance Global Group

Runaway Manila now open to the public

Apr 222017

DOTr, DPWH officials open Runway Manila: From (right to left) DOTr Sec. Arthur Tugade, DPWH Sec. Mark Villar and Dr. Andrew Tan led the switch during the opening of the Runaway Manila on Tuesday night (April 18, 2017) at the NAIA Terminal 3 in Pasay City. (PNA photo by Avito C. Dalan)

MANILA, April 18 (PNA) – The 220-meter pedestrian link bridge known as Runway Manila, a PHP1.5 billion project that directly connects Ninoy Aquino International Airport (NAIA) Terminal 3 (T3) with Newport City in Pasay City has been officially opened to the public on Tuesday evening.

Runway Manila was designed by Filipino architects Juan Seriña Jr. and Raymond Hernandez and can accommodate up to 2,000 persons at any time.

It is the country’s first pedestrian bridge with moving walkways that allows the average person to walk the distance between the airport and Newport City in just a few minutes.

The undertaking is a partnership between the Department of Public Works and Highways (DPWH) and Department of Transportation (DOTr) and the Alliance Global Group, Inc.

According to DPWH Secretary Mark Villar, the project only proves that with political will and partnership with the private sector, such undertaking is possible.

“Runway Manila the first pedestrian footbridge going from Newport city to NAIA Terminal 3. This is an air-conditioned footbridge with walkalators and this was begun during December and was finished in April and I think this serve as a great example of what can be done when you combine political will and the private sector when there is cooperation between the two you can complete this infrastructure project at a fast pace,” he said.

The NAIA T3 has the capacity to handle 13 million international passengers annually.

The pedestrian bridge is expected to further ease traffic congestion in the airport and is for the benefit and free use of the public, particularly tourists, who may want secure and convenient alternatives to reach various parts of the metropolis.

Runway Manila is financed by Alliance Global Group, Inc. (AGI), one of the Philippines’ largest conglomerates, with strong interests in the tourism and gaming sector, food and beverage industry, real estate development and quick service restaurants.

“This first of its kind pedestrian bridge is our gift to the Filipino people and increasing number of tourists who come to visit our beautiful country,” said AGI President

Phl bourse tumbles on concerns over US economic stimulus

Economy

Nov 212013

Phl bourse tumbles on concerns over US economic stimulus

MANILA, Philippines (Xinhua) – The Philippine stock market further retreated below the 6,200-level today over concerns that the United States might soon taper its economic stimulus. The bellwether Philippine Stock Exchange index lost 0.53 percent or 32.45 points to 6,122.89, while the broader all-share index fell by 0.70 percent or 26.50 points to 3,737.18. Trading volume reached 853.18 million shares worth P8.54 billion ($196.06 million) with 123 stocks declining, 34 advancing and 41 were unchanged. Of the six counters, only the industrial and the holding firm sectors bucked the trend. “Weakness continue to prevail, following indications of tapering plans in the US,” brokerage 2TradeAsia.com said in its daily stock market comment. Investors are worried that the US Federal Reserves might soon go slow on its $85-billion a month asset purchase program following signs of recovery in the labor market. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This caused major currencies to slide and the Dow Jones to close Wednesday’s session 66.21 points lower. 2TradeAsia.com advises investors to spot for good trading windows in second-tier shares that have breached “oversold zones.” Stocks in the 30-company index were mostly down. Among those sold out were Ayala Land, Inc., Alliance Global Group, Inc. and heavyweight Philippine Long Distance Telephone Co.

Stocks end higher despite of caution

Economy

Oct 032013

MANILA, Philippines (Xinhua) – The stock market extended its rally today even after the fiscal drama in the United States has left many guessing of local investors on the US Federal Reserve’s next move. The bellwether Philippine stock market gained 0.4 percent or 25. 39 points to 6,387.65, while the broader all-share index rose by 0. 14 percent or 5.52 points to 3,842.32. Trading volume reached 921 million shares worth P6.11 billion ($141.74 million) with 72 stocks declining, 62 advancing, and 52 were unchanged. Of the six counters, only the financials and the industrial sectors bucked the trend. “Share prices appeared to poised to take a breather and snapped a two-session run as the continuing fiscal drama in the US left investors clueless,” analyst Justino Calaycay of Accord Capital Equities Corp. said in his daily stock market comment. The latest investment rate upgrade from Moody’s Investor Service nevertheless helped boost investors confidence, especially after the index tumbled by as much as 60 points during the session before clawing back to its closing level. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Calaycay said the three-day rally of the local equities suggest that investors might have shifted gear and are now bullish. “Prudence is still better. There are still many headwinds and obstacles along the way,” he said. Stocks in the 30-company index closed mixed. Among those picked up were Alliance Global Group, Inc., Metropolitan Bank and Trust Co., and heavyweight Philippine Long Distance Telephone Co.

Market drops below 6,000; peso falls

Economy

Jun 242013

MANILA, Philippines – Continuous foreign selling amid external worries dragged the bellwether stock index to a six-month low yesterday and nearer bear market territory. At the same time, the peso hit a fresh 17-month low versus the greenback as investors expect positive data from the US this week to support a pullout of stimulus measures later this year. The Philippine Stock Exchange index (PSEi) sank 3.41 percent or 211.12 points to end at 5,971.05, its lowest since closing at 5,934.05 on Jan. 4. After hitting its 31st all-time high this year at 7,392.20 on May 15, the PSEi has since fallen 19.22 percent. A 20 percent or more decline marks the start of the bear market. Meanwhile, the local currency closed at 43.84 against the dollar, losing 12 centavos versus its close last Friday at 43.72. The close was the peso’s weakest against the US currency since Jan. 16, 2012 when it hit 43.88. Last Friday, the peso touched the 44-level, a two-year low, before it bounced back to close stronger. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We broke down below 6,000 psychological support, trailing regional bourses’ performance,” said Freya B. Natividad, investment analyst at Papa Securities. “I think the weakness stemmed from continued sell-off of foreign fund managers in the local bourse,” she said. Net foreign selling hit P557.77 million yesterday. Justino Calaycay Jr., an analyst at Accord Capital Securities, said attention shifted to the growing weakness of the Chinese economy. “Bears kept its dominance, threatening Read More …

Phl stocks surge on better US jobs data

Economy

Jun 102013

MANILA, Philippines (Xinhua) – The Philippine stock market rallied back to the 6,800 level following the strong gains in US stocks last Friday. The bellwether Philippine Stock Exchange index jumped by 2.59 percent or 173.65 points to 6,875.60. The broader all-share index rallied by 1.96 percent or 81.20 points to 4,229.61. Trading volume reached 1.14 billion shares worth P14.22 billion ($332.63 million) with 123 stocks advancing, 52 declining, and 29 unchanged. All six counters were up. “Buyers resumed to position in equities on Monday, encouraged in part by Wall Street’s overnight ascent,” 2TradeAsia.com said. Dow Jones industrial average index jumped by 207 points last Friday on back of a US labor department report that American employers took in more workers in May. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Monday’s climb, according to analyst Justino Calaycay of Accord Capital Equities Corp., has taken back 40 percent of the values lost during the meltdown. “Yet despite the strong price and index surge, caution remained fairly evident as turnover kept a slack pace,” Calaycay said. Value turnover have been below the five-period and 30-period averages for quite some time and Monday’s action does not show any indication that is to change. Stocks in the 30-company index were mostly up. These include Metropolitan Bank and Trust Co., SM Prime Holdings, Inc., and Alliance Global Group, Inc.