LRTA Board yet to award Cavite LRT extension project

MANILA – The Light Rail Transit Authority (LRTA) Board has yet to award the P65 billion Light Rail Transit Line 1 (LRT-1) Cavite Extension project to a consortium led by Ayala Corp. and Metro Pacific Investments Corp. (MPIC).Full article

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SM Group completes consolidation of gaming assets into Sinophil

As of 07/24/2014 9:02 AM
MANILA - Listed firm Sinophil Corp. has completed several transactions that allowed it to transition into the holding company for the gaming assets of the SM Group. Full article

Gov't open to converting BNPP into gas-fired facility

As of 07/24/2014 9:00 AM
MANILA - The government is open to proposals to convert the mothballed Bataan Nuclear Power Plant (BNPP) into a natural gas-powered facility to meet the country’s growing energy needs. Full article

SC asked to void MWSS deals with Maynilad, Manila Water

As of 07/23/2014 7:38 PM
The Abakada Party-List group urged the Supreme Court to void the two concession agreements entered into by the Metropolitan Waterworks and Sewerage System with Maynilad Water Systems, Inc. and Manila Water Company, Inc. for being unconstitutional. Full article

DPWH waiting for Palace decision on CALAX bid controversy

As of 07/23/2014 7:23 PM
MANILA, Philippines – The Department of Public Works and Highways (DPWH) is now waiting for a decision from Malacanang on the controversy surrounding the bidding of the Cavite-Laguna Expressway (CALAX) project.   Full article

5 PH banks ordered to produce Luy's bank documents

As of 07/23/2014 5:40 PM
MANILA, Philippines (UPDATE) – The Sandiganbayan first division has issued subpoenas to the legal departments of five banks to produce the bank accounts and bank history of pork barrel scam whistleblowers Benhur Luy, Arthur and Gertrudes Luy, Marina Sula, and Merlina Sunas. Full article

Cebu Pacific seeks more flights to UAE

As of 07/23/2014 4:45 PM
Gokongwei-led budget carrier Cebu Pacific is seeking more flight entitlements to the United Arab Emirates. Full article

PDIC takes over rural bank in Misamis Occidental

As of 07/23/2014 4:37 PM
MANILA, Philippines – The Philippine Deposit Insurance Corporation (PDIC) took over a rural bank in Misamis Occidental and assured depositors that all valid deposits shall be paid up to the maximum deposit insurance coverage of P500,000. Full article

Gov't urged to resolve Visayas power woes

As of 07/23/2014 4:20 PM
MANILA, Philippines – Government is being urged to immediately intervene and resolve the power situation in Visayas. Full article

Meralco customers warned vs bogus 'bayad centers'

As of 07/23/2014 4:13 PM
MANILA, Philippines – Manila Electric Co. (Meralco) has issued a warning against bogus payment centers after receiving several complaints from customers whose payments were not remitted or paid to the power utility. Full article

Malaysia's CIMB eyes banking business in PH

As of 07/23/2014 3:59 PM
CIMB Group Holdings Bhd, Malaysia's second largest lender, is keen on setting up a banking business in the Philippines as part of its growth strategy in Southeast Asia in anticipation of the ASEAN integration in 2015. Full article


This billionaire wants you to have a 3-day work week

Mexican businessman Carlos Slim attends the 20th annual meeting of the Circulo de Montevideo Fundation in Luque, Paraguay July 17, 2014. Photo by Jorge Adorno, Reuters

A three-day work week is something Mexican telecom billionaire Carlos Slim believes all employees should have.

Business Specials

Do's and don'ts when renting a home

Do's and don'ts when renting a home

Before you sign that house rental contract, here are some points to keep in mind: