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  • PSALM’s Universal Charge To Hike Meralco Rates This Month
    Myrna M. Velasco
    03/09/2013 - 00:00
    Main Business
    The scheduled pass-on of the universal charge (UC) of the Power Sector Assets and Liabilities Management Corporation (PSALM) for stranded contract costs (SCC) will slightly raise the charges to be billed by Manila Electric Company (Meralco) this month by P0.101 per kilowatt hour.
  • BSP Issues Rules Restricting Banks’ Non-Deliverable Forwards In Pesos
    Lee C. Chipongian
    03/09/2013 - 00:00
    Main Business
    The Bangko Sentral ng Pilipinas (BSP) yesterday issued the official circular that further restricted banks’ non-deliverable forwards (NDF) in peso and allowed banks two more months to comply with the new rules.
  • Gov’t Gets Tourism, Employment Grants
    Chino S. Leyco
    03/09/2013 - 00:00
    Main Business
    The Asian Development Bank (ADB) is providing the Philippine government with $12.7 million worth of grants to fund a pilot youth job placement program and improve skills in the country’s tourism sector.
  • Philippines Backs Japan ADB Nominee
    Chino S. Leyco
    03/09/2013 - 00:00
    Main Business
    The Philippine government is supporting the nomination of Japan’s Vice Minister of Finance Takehiko Nakao to replace Haruhiko Kuroda as president of the Asian Development Bank whose headquarters are located in Metro Manila. 
  • Petron Hikes Fundraising To $750-M
    Myrna M. Velasco
    03/09/2013 - 00:00
    Main Business
    The fund raising of Petron Corporation via the issuance of undated subordinated capital securities had been increased up to $750 million, the company has noted in its disclosure to the local bourse.
  • Toledo Power Secures P7-B Funding
    Myrna M. Velasco
    03/09/2013 - 00:00
    Main Business
    The 82-megawatt capacity expansion of Toledo Power Company (TPC) has finally secured P7.0 billion financing from a syndicate of local banks.
  • Consumer Guide: Sachets Pros And Cons
    03/09/2013 - 00:00
    Main Business
    Groceries, retailers, and sari-sari stores sell shampoos cheaper by sachets than by bottles. The trend of the prices is as packs go smaller, so does the price per quantity of the products.
  • Eurotunnel’s Ferry Strategy At Risk
    Chris Jasper (Bloomberg)
    03/09/2013 - 00:00
    Shipping
    Channel Tunnel operator Groupe Eurotunnel SA’s plan to boost cargo revenue by running ferries alongside the 30-mile subsea rail route risks unraveling amid opposition from antitrust regulators and shipping companies.
  • Orient Overseas Profit Climbs 63%
    Jasmine Wang (Bloomberg)
    03/09/2013 - 00:00
    Shipping
    Orient Overseas (International) Ltd., owner of Hong Kong’s biggest container line, posted a 63 percent increase in full-year profit that beat analyst estimates as freight rates rose.
  • CEB Network Adds Camiguin, Masbate
    Emmie V. Abadilla
    03/09/2013 - 00:00
    Shipping
    The Philippines’ largest national flag carrier, Cebu Pacific (CEB) has launched its two newest island destinations, Camiguin in Northern Mindanao and Masbate in the Bicol Region, which brings the local destinations it serves to 34, on 62 city-pairings or routes. 
  • DP World Selling HK Assets
    03/09/2013 - 00:00
    Shipping
    Dubai port operator DP World Limited is selling stakes in two container terminals and a logistics center in Hong Kong for $742 million as it continues asset disposals in non-core international markets.
  • Airlines Welcome Tax Relief From New Law
    03/09/2013 - 00:00
    Shipping
    The Board of Airline Representatives (BAR), the association of foreign and local airlines in the Philippines, welcomed the signing into law recently by President Benigno S. Aquino III of RA No. 10376 that repeals the common carriers tax and the Gross Philippine Billings in support of the targets of Philippine tourism. 
  • HEALTH ISSUE
    Reuters
    03/09/2013 - 00:00
    Opinion
    Fighting the tobacco industry’s tactics in the world’s poorest countries and ensuring the best vaccines get to those most in need are key to cutting the number of cancer deaths worldwide, according to a report by specialists in the disease.
  • Firm’s CSR Makes Farmers Rich
    Zac B. Sarian
    03/09/2013 - 00:00
    Agriculture
    Big companies with a well-focused Corporate Social Responsibility (CSR) could transform the lives of poor farmers, making them financially independent and proud of their achievement.
  • CA Orders Lawyers Of Suspended Cebu Governor To Explain Side
    Rey G. Panaligan
    03/09/2013 - 00:00
    Main News
    The Court of Appeals (CA) has ordered the lawyers of suspended Cebu Gov. Gwendolyn Garcia to explain why they should not be punished for indirect contempt for improper conduct.
  • Altas Seek 7th NC Title
    Kristel Satumbaga
    03/08/2013 - 21:17
    Sports
    Defending champion University of Perpetual Help tries to enhance its status as one of the best cheer dance schools in the country as it shoots for a fourth straight title today in the 88thNCAA Cheerleading Competition at the Mall of Asia Arena in Pasay City.
  • Painters Beat Up Batang Pier
    Waylon Galvez
    03/08/2013 - 21:17
    Sports
    Rain or Shine rookie Chris Tiu scored a career-best 16 points, 10 of which came in the pivotal fourth quarter as the Elasto Painters extended their winning streak to five with a 103-95 win over Globalport in the PBA Commissioner’s Cup last night at the Smart Araneta Coliseum.
  • PSA To Honor Ilonggo Booters
    03/08/2013 - 21:16
    Sports
    Despite the influx of Fil-foreign players, two proud sons of football hotbed Western Visayas made the most impact for the sport in the year that was.
  • Lim Rips Foe, Reaches Finals
    kristel satumbaga
    03/08/2013 - 21:15
    Sports
    Top seed Albert Lim Jr. inched closer to winning the Ajay Pathak Memorial Cup/ITF 14-Under Development Championships 2013 Division I byr dumping his rival in the semifinals at the Rizal Memorial Tennis Center.
  • MVPSF’s Panlilio Joins NGAP Board
    03/08/2013 - 21:14
    Sports
    The National Golf Association of the Philippines’ board convened yesterday and unanimously voted to put MVP Sports Foundation president Al S. Panlilio as treasurer in place of the resigned Abe Rosal.