Business

Uber vehicles are 'colorum': LTFRB

MANILA – The Land Transportation and Franchising Regulatory Board (LTFRB) is defending its crackdown on vehicles using the Uber service, saying the online transportation service is not authorized to operate in the country.Full article

Top Stories

China launches World Bank rival in Asia

As of 10/24/2014 7:25 PM
Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. Full article

Del Monte Pacific sets $360-M preferred share sale

As of 10/24/2014 5:45 PM
MANILA - Del Monte Pacific Ltd., which is publicly listed in Singapore and the Philippines, is looking to raise $360 million via the sale of preferred shares for debt refinancing, a regulatory filing showed on Friday. Full article

PMFTC to gov't: Fix illicit trade before raising sin tax

As of 10/24/2014 3:34 PM
Philip Morris Fortune Tobacco Corp. said government should first address the issue on illicit cigarette trade before extending the implementation of the sin tax law, which is set to end on 2017. Full article

PNoy urged to solve port congestion, power woes

As of 10/24/2014 3:04 PM
MANILA - Businessmen presented to President Aquino a list of various concerns, urging government to address Manila's port congestion, traffic woes, and ensure adequate power supply, among others. Full article

BIR shuts down Chinese restaurant in QC

As of 10/24/2014 2:16 PM
MANILA – The Bureau of Internal Revenue (BIR) has closed down Chinese restaurant Mandarin Sky in Quezon City for allegedly committing tax violations for taxable years 2011 to 2013. Full article

Petilla: Power shortage means an energy crisis

As of 10/24/2014 12:42 PM
MANILA – Energy Secretary Jericho Petilla rejected some lawmakers' assessment that President Aquino won't need emergency powers to avert a power crisis next year. Full article

Cosco Capital to build community mall in Laguna

As of 10/24/2014 11:06 AM
MANILA – Lucio Co's Cosco Capital Inc. is planning to build a community mall in Binan, Laguna. Full article

August imports down 1.3 pct

As of 10/24/2014 10:47 AM
MANILA (UPDATE) – Total imports in August fell 1.3 percent to $5.49 billion from a year ago, the statistics office said on Friday. Full article

'Cloud' lifts Microsoft earnings above expectations

As of 10/24/2014 9:59 AM
SAN FRANCISCO - Microsoft on Thursday reported quarterly profits ahead of most expectations, as revenues got a boost from its Xbox consoles and Internet "cloud" services for enterprises. Full article

DOTC extends deadline for LRT-2 viaduct extension

As of 10/24/2014 9:57 AM
MANILA, Philippines - The Department of Transportation and Communications (DOTC) has given interested bidders for the first phase of the P9.7 billion extension of the Light Rail Transit line 2 (LRT-2) system more time to prepare their bids. Full article

Profiles

How ex-banker became the biggest OPM vinyl collector

Nestor Vera Cruz. File Photo

MANILA – After spending more than 40 years of his life working in a bank, record collector Nestor Vera Cruz is now spending his days with the music of yesteryears in the background.

Business Specials

Before agreeing to 'terms and conditions', read this

Debt

MANILA – Each time you sign up for a service – say the installation of a simple app or a mobile phone service connection – you will always be asked to agree to its terms and conditions as a matter of procedure. Without checking the box that says you agree to the said terms, you will never be able to get the service. How many of us, though, really bother to read and understand these terms?