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  3. February
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February 2017

Boracay Newcoast projects entice business and real-estate investors

(philstar.com) Updated February 15, 2017 – 1:20pm http://www.philstar.com/real-estate/2017/02/15/1668016/boracay-newcoast-projects-entice-business-and-real-estate-investors It seems that the island is already perfect as it is. But Megaworld’s Global-Estate Resorts Inc. brings the island to a whole new level. There’s more to look forward to in Boracay with the development of an integrated tourism property inspired by the world’s best beach neighborhoods. […]

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San Miguel offering P20B in retail bonds

By: Doris Dumlao-Abadilla Philippine Daily Inquirer 12:14 AM February 16, 2017 http://business.inquirer.net/224622/san-miguel-offering-p20b-retail-bonds Conglomerate San Miguel Corp. has launched a new offering of retail bonds worth as much as P20 billion, raising fresh funds to refinance debt and fund massive capital outlays. SMC’s fixed rate bond offering consists of five-year bonds priced to yield 4.8243 percent […]

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Local stocks continue to weaken as higher U.S. interest rates loom

By: Doris Dumlao-Abadilla Philippine Daily Inquirer 12:18 AM February 16, 2017 http://business.inquirer.net/224624/local-stocks-continue-weaken-higher-u-s-interest-rates-loom The local stock barometer fell below the 7,200 mark Wednesday as investors digested the latest stream of local corporate earnings reports and a looming US interest rate increase. Declining for the second straight session, the Philippine Stock Exchange index (PSEi) lost 32.54 points […]

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DENR chief cancels 75 mining contracts

By Louise Maureen Simeon and Rhodina Villanueva (The Philippine Star) Updated February 15, 2017 – 12:01am http://www.philstar.com/headlines/2017/02/15/1672432/denr-chief-cancels-75-mining-contracts MANILA, Philippines – Seventy-five more mining contracts have been cancelled in an intensified government crackdown on mines deemed destructive to watersheds. The cancelled contracts – representing almost a third of the country’s contracts for undeveloped mines – include […]

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PLDT putting up P1-B Mindanao fiber optic link

By Louella Desiderio (The Philippine Star) Updated February 16, 2017 – 12:00am http://www.philstar.com/business/2017/02/16/1672583/pldt-putting-p1-b-mindanao-fiber-optic-link MANILA, Philippines – PLDT Inc. is set to complete this year the nearly P1 billion fiber optic cable link that directly connects the provinces of Agusan to Davao, providing reliable connectivity to more homes and businesses in Mindanao. Spanning nearly 320 kilometers, […]

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Cebu Pacific launches Masbate, Romblon flights

ABS-CBN News Posted at Feb 15 2017 03:23 PM http://news.abs-cbn.com/business/02/15/17/cebu-pacific-launches-masbate-romblon-flights MANILA – Cebu Pacific said its subsidiary, Cebgo, launched on Wednesday direct flights between Manila and the island provinces of Masbate and Romblon. Cebgo now flies daily between Manila and Masbate and four times weekly between Manila and Tablas in Romblon using ATR 72-600 aircraft, […]

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Vigan airport reopens for commercial flights

Bryan Realgo, ABS-CBN News Posted at Feb 15 2017 04:29 PM http://news.abs-cbn.com/business/02/15/17/vigan-airport-reopens-for-commercial-flights VIGAN – The airport in this northern city will reopen for commercial flights this week after an eight-year hiatus due to low demand, the tourism office said. Platinum Skies, controlled by former governor Luis “Chavit” Singson, will open flights between Manila and Vigan […]

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DOTr reviews San Miguel’s P700B Bulacan airport

By: Miguel R. Camus Philippine Daily Inquirer 03:45 PM February 15, 2017 http://business.inquirer.net/224608/dotr-reviews-san-miguels-p700b-bulacan-airport MANILA — Conglomerate San Miguel Corp.’s new international “aerotropolis” in Bulacan province would cost about P700 billion to build and can be completed within six years. Those were some of the details revealed on Wednesday by Department of Transportation (DOTr) Undersecretary Roberto […]

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Ayala Land nets P20B

By DORIS DUMLAO-ABADILLA Philippine Daily Inquirer 12:28 AM February 16, 2017 http://business.inquirer.net/224633/ayala-land-nets-p20b Property giant Ayala Land Inc. breached the P20-billion profit milestone last year, as the double-digit expansion in earnings from residential development and mall operations brought net profit to a new record. ALI grew its net profit last year by 19 percent to P20.9 billion. […]

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Ayala leisure unit spending P15 B for 9 new Seda hotels

By Catherine Talavera (The Philippine Star) Updated February 16, 2017 – 12:00am http://www.philstar.com/business/2017/02/16/1672580/ayala-leisure-unit-spending-p15-b-9-new-seda-hotels MANILA, Philippines – The hotel and resorts arm of Ayala Land Inc. is spending P15 billion over the next two years for the development of nine hotels under its Seda brand. In a media briefing yesterday, Seda group director for sales and […]

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