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Water concessionaires seek to raise rates to fund P183-B capex
BusinessWorld - 2018-08-02
On Aug. 1, the Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) posted the separate business plans of the two companies for the fifth regulatory period covering 2018 to 2022. Included in the plans are the projected spending for the ...

Metro Pacific core profit jumps 10% in 1 st half
BusinessWorld - 2018-08-02
MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld ...

MPIC unit completes deal for 12% stake in Air21
BusinessWorld - 2018-08-02
THE logistics unit of Metro Pacific Investments Corp. (MPIC) has completed its acquisition of a 12% stake in logistics services provider Air21, in line with its goal to become the leading player in the sector within the next two years. Metropac Movers ...

Grab raises $2B to fight ride-hailing competition
BusinessWorld - 2018-08-02
SINGAPORE -- Ride-hailing firm Grab said on Thursday it has raised $2 billion from investors to expand its offerings including electronic payments, food delivery and courier services as it fights fierce competition in the fast-growing sector. Around half ...

Security Bank rationalizes branches in digital push
BusinessWorld - 2018-08-02
SECURITY BANK Corp. is easing its branch expansion as it rationalizes its existing network amid its digitalization push. Alfonso L. Salcedo, Jr., Security Bank president and chief executive officer, said the bank will open less branches this year as it ...

Fed holds rates steady, on track for hike in Sept.
BusinessWorld - 2018-08-02
"Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly," the Fed said in a unanimous statement following the conclusion of its latest two ...

Lawmakers vying for top minority post will defer to House Speaker on leadership decision
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Questions on who would lead the Minority in the House of Representatives continue, but this time, members of two out of three opposing blocs said they would defer to the Speaker should the issue remain unresolved.

Roque: U.S. indictment strengthens case vs. Napoles
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Malacañang on Thursday welcomed a United States federal grand jury indictment of Janet Lim-Napoles as it bolsters the case against the alleged pork barrel scam mastermind. "The charge of money laundering ...

My passion made possible
BusinessMirror - 2018-08-02
I WAS in Singapore recently to attend the Second Asia Business Meet (ABM) and the opening of the Eighth Singapore MICE Forum (SMF) as a hosted buyer in my capacity as secretary general of the Association of Development Financing Institutions in Asia and ...

401 employees lose jobs as PhilHealth fail to re-accredit BOLMSH
Sun Star - 2018-08-02
THE employees union of the Bacolod Our Lady of Mercy Specialty Hospital (BOLMSH) hit the Philippine Health Insurance Corporation (PhilHealth) for having no mercy on them by not acting on time on the motion for reconsideration of the hospital regarding its ...

Delay in RCEP just part of bid to forge best deal-NZ envoy
BusinessMirror - 2018-08-02
The diplomat, however, argued RCEP economies have to be liberal with restrictions on foreign investment, as this will assist the ease of doing business in their countries and will produce "commercially meaningful market access" for parties involved.

Emperador income grows 19% to P3.2B in H1
BusinessMirror - 2018-08-02
LIQUOR maker Emperador Inc. said its income rose 19 percent during the first six months of the year, as international sales helped cushion the impact of a softening domestic market. The company said its income for the period reached P3.2 billion ...

Jellyfish sting kills Fil-Italian girl in Caramoan island
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- A trip to the beach took a deadly turn when a young Filipino-Italian girl was stung by a venomous jellyfish off the tourist town of Caramoan in Camarines Sur province. Seven year-old Gaia Trimarchi y Cabanlong ...

Philippines targeted in latest attack
Sun Star - 2018-08-02
"It is very important for the Philippines, both in the government and in the business sector, to integrate cyber security into its risk management practices," said David Maciejak, director of security research for Fortinet. "The threat landscape is ...

Autohub group opens its 3rd Nissan dealership
BusinessMirror - 2018-08-02
CALL it business instinct, but when this writer asked Autohub President Willie Tee Ten why they chose Taytay, Rizal, as the location of their third Nissan dealership, he said, "We believe that east of Metro Manila is the next big thing in terms of growth."

House panel approves TRAIN 2, hopes to dampen inflation impact
BusinessWorld - 2018-08-02
It would also repeal exemptions under the National Internal Revenue Code on government-owned and controlled corporations (GOCC), educational institutions and hospitals, regional or area headquarters (RHQs), regional operating headquarters (ROHQs), income ...

Authorities arrest Islamic cleric considered a 'person of interest' in Basilan car bomb attack
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Government operatives have detained an Islamic cleric considered "a person of interest" in the Basilan car bomb attack that killed 10 people, officials said Thursday. Col. Gerry Besana, spokesman of the military ...

Sotto files TRAIN 2 bill
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- A bill for the second tranche of the Duterte administration's tax reform program has been filed in the Senate. Senate President Vicente "Tito" Sotto filed on Thursday Senate Bill 1906 to introduce reforms in the ...

Koko Pimentel: Senators do not trust Arroyo
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Speaker Gloria Macapagal-Arroyo needs to gain the confidence of senators to achieve the popularity she enjoys in the House of Representatives, Senator Koko Pimentel said today. "The new speaker must win the ...

MPIC books 10% increase in H1 earnings
philstar.com - 2018-08-02
MANILA, Philippines --Infrastructure ... in Beacon Electric Asset Holdings Inc. in 2017; continuing traffic growth on all domestic roads; and steady volume growth coupled with inflationary tariff increase at Maynilad Water Service Inc. In terms of ...

House panel approves in principle TRAIN 2
philstar.com - 2018-08-02
The Department of Finance is targeting to introduce in July this year the rest of the tax reform packages that mainly cover property and capital income taxation. Since the start of 2018, the DOF has submitted Package 2, as well as the reforms on taxes on ...

Asia's ride-hailing market gets another $1 billion investment
CNN Philippines - 2018-08-02
(CNN Money) -- Grab just got another $1 billion to expand its war chest in Asia. The Singapore-based ride-hailing company, which recently bought out Uber's business in southeast Asia, said Thursday that it had raised fresh funding from big investors ...

Police Regional Office 12 cops warn against involvement in crimes
philstar.com - 2018-08-02
GENERAL SANTOS CITY, Philippines -- The Police Regional Office-12 on Thursday warned its personnel of administrative and criminal prosecution if remiss in their sworn duty to uphold law and order at all cost. Chief Superintendent Marcelo Morales of PRO-12 ...

Valenzuela cops caught extorting face criminal rap
philstar.com - 2018-08-02
MANILA, Philippines -- The Valenzuela cops nabbed for extorting from junkshop owners are facing criminal raps before the Department of Justice. The following individuals are facing complaints in violation of Article 294 of the revised penal code of ...

Philippine anti-graft office feels heat as Duterte sacks deputy
Nikkei Asian Review - 2018-08-02
MANILA -- The independence of Philippines' anti-corruption office has come under pressure days before its new czar assumes the post, after President Rodrigo Duterte dismissed the deputy ombudsman for disclosing a probe into his personal wealth. The ...

Authorities arrest teacher allegedly linked to Basilan car bomb attack
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Government operatives have arrested a certain Ustadz Indalin Jainul alias Abdulgani for alleged involvement in the Basilan car bomb attack that killed 10 people, officials said Thursday. The ustadz, or teacher ...

Board OKs wage hike for Cordillera workers
philstar.com - 2018-08-02
BAGUIO CITY, Philippines -- Private sector workers in the highland Cordillera region are getting a P20-P30 daily wage increase. Regional Tripartite Wages and Productivity Board-Cordillera approved the wage hike on July 20 through Wage Order RB-CAR-19.

Pacquiao couple no longer required to pay ?3.29-B cash bond over pending tax case
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) - Boxing champion Senator Manny Pacquiao and his wife Jinkee will no longer have to pay a cash bond worth nearly ?3.3 billion over their pending tax case. The Court of Appeals (CTA) First Division released a ...

Alvarez moves on after ouster
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- For the first time since former House Speaker Pantaleon Alvarez was ousted, he faced some of his colleagues who dropped him for Pampanga Representative Gloria Macapagal Arroyo. Alvarez and other lawmakers met at ...

Garin faces 12th case over dengue deaths
philstar.com - 2018-08-02
MANILA, Philippines -- Another criminal case was filed yesteray against former health secretary Janette Garin and 36 others before the Department of Justice (DOJ) over the deaths of school children immunized with Dengvaxia vaccine. Charges of reckless ...

Lacson: Sara Duterte is my top choice for next leader
CNN Philippines - 2018-08-02
His comment comes amid some lawmakers' confirmation that Duterte-Carpio was behind the controversial ouster of Davao del Norte 1st District Rep. Pantaleon Alvarez as House Speaker. They said the feisty mayor asked representatives for support in ousting ...

Emperador Inc. posts 18% rise in net income in H1
philstar.com - 2018-08-02
MANILA, Philippines -- Emperador Inc. on Thursday reported a first-half net income of P3.2 billion, up 18 percent from the same period last year on the back of strong growth on its international business amid a "soft domestic market." In a statement ...

Facebook and Instagram now reveal how much time you spend in each app
CNN Philippines - 2018-08-02
(CNN) -- Get ready to find out how much time you spend on Facebook and Instagram. A new set of features are starting to roll out to the Facebook and Instagram mobile apps on Wednesday to help you better manage how you spend time on the platforms.

Pangilinan on inviting Mocha Uson to federalism hearings: There are more learned experts
CNN Philippines - 2018-08-02
Metro Manila (CNN Philippines, August 2) -- Senate Constitutional Amendments Committee Chair Kiko Pangilinan is not very keen on inviting Presidential Communications Assistant Secretary Mocha Uson to discuss federalism. Senator Nancy Binay made the ...

U.S. threatens raising tariffs to 25% on $200 billion of Chinese goods
CNN Philippines - 2018-08-02
(CNN) -- The Trump administration is considering increasing the rate of proposed tariffs to 25 percent on an additional $200 billion worth of goods from China. The White House had previously asked the Office of the United States Trade Representative about ...

Barangay, SK polls in Marawi set on September 22
philstar.com - 2018-08-02
MANILA, Philippines -- The barangay and Sangguniang Kabataan (SK) elections in Marawi will be held on Sept. 22. The poll body decided to push through with the elections after the area was found "stable," James Jimenez, spokesman for the Commission on ...

Metro Manila under 'heightened alert' after Basilan explosion - police
CNN Philippines - 2018-08-01
ISIS, through a statement carried by its news agency, claimed responsibility for the Tuesday "suicide bombing" attack in Lamitan City. But both the military and police have yet to verify this.

Guidance and mentorship
philstar.com - 2018-08-01
Even bigger than our pilot launch in SM Mall of Asia. We were joined by a roster of mentors including Tessie Sy-Coson (SM Investments Corp.), Michael Tan (LT Group Inc.), George Barcelon and Bing Limjoco (Philippine Chamber of Commerce and Industry), Rex ...

Davao workers to get P56 wage hike
philstar.com - 2018-08-01
Davao City and the provinces of Davao Oriental, Davao del Norte, Davao del Sur, Davao Occidental and Compostela Valley comprise the Davao region. The Department of Labor and Employment had earlier announced salary increases this year in regions where wage ...

PNR reopens Caloocan-Dela Rosa line
philstar.com - 2018-08-01
MANILA, Philippines -- The Philippine National Railways (PNR) reopened yesterday its train service from Caloocan City to Dela Rosa in Makati after it was shut down in 1997. Transportation Secretary Arthur Tugade said the project was in line with the ...

Factory output slows in July 2018
philstar.com - 2018-08-01
This also led firms to raise selling prices anew in July. As inflationary pressures remain elevated, business output expectations for the remainder of the year fell to the lowest in survey history. IHS Markit principal economist Bernard Aw said firms are ...

Credit, liquidity growth ease in June 2018
philstar.com - 2018-08-01
MANILA, Philippines -- Credit growth eased for the second straight month in June as the Bangko Sentral ng Pilipinas (BSP) delivered back-to-back rate hikes to curb rising inflationary pressures. BSP Governor Nestor Espenilla Jr. said preliminary data ...

Three Ukrainians arrested for hacking over 100 US companies
YAHOO! - 2018-08-01
Washington (AFP) - Three Ukrainians have been arrested for hacking more than 100 US companies and stealing millions of credit and debit card numbers, the Department of Justice announced Wednesday. Dmytro Fedorov, 44, Fedir Hladyr, 33, and Andrii Kolpakov ...

Cops kill 12 suspects in Bulacan overnight raids
philstar.com - 2018-08-01
MANILA, Philippines -- Six alleged drug dealers and six robbery suspects were killed in police operations in Bulacan from Tuesday night until yesterday morning. Eugenio Tan, Alden Gerobeise, a certain Ogag, an alias Keng-Keng, Mark Manalang and Dex Dispo ...

Missed Visits, Uncontrolled Pain, and Fraud: Report Says Hospice Lacks Oversight
Medscape - 2018-08-01
Elderly patients spent over two weeks in uncontrolled pain or respiratory distress. Acute care was rare on weekends. And recruiters went door to door pitching fraudulent schemes, luring healthy patients to sign up for hospice in exchange for free ...

Paradoxes, Pitfalls Persist in HIV Remission Research
Medscape - 2018-08-01
AMSTERDAM -- HIV DNA levels were similar whether patients recently diagnosed with HIV were treated with a kick-and-kill approach that involved a vaccine plus a latency-reversing agent or treated with a traditional antiretroviral therapy, findings from a ...

NFA interagency council pushes for rice importation
philstar.com - 2018-08-01
NFA, however, has yet to submit its proposal as it is still awaiting the latest data on production forecast from the Department of Agriculture, household rice inventory from the Philippine Statistics Authority and the weather outlook from PAGASA for the ...

DM Wenceslao 1st half earnings up 42% to P970 million
philstar.com - 2018-08-01
MANILA, Philippines -- D.M. Wenceslao & Associates Inc. (DMW) reported a 42 percent increase in net income to P969.8 million in the first half on strong growth of its core leasing business. DMW chief executive officer Delfin Angelo Wenceslao said ...

Apple's ride to $1 trillion: The magic number that gets it there
Business Insider - 2018-08-01
SAN FRANCISCO (Reuters) - Apple is close to becoming the first publicly listed U.S. company valued at $1 trillion, but figuring out exactly how close requires doing a little math. Based on Apple's Tuesday earnings release, the magic number that gets the ...

Facebook, Instagram roll out new tools to manage time online
Upi.com - 2018-08-01
Aug. 1 (UPI) --Facebook announced new tools Wednesday designed to help users manage their time online, amid concerns from mental health experts about potential overuse. The new tools for Facebook and Instagram include a daily reminder that gives users an ...

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