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Semirara to continue search, rescue in Antique mine

Semirara Mining and Power Corp said it received this morning a copy of the Department of Environment and Natural Resources’ (DENR) cease and desist order from undertaking any activity in the Panian in Antique, which its open-pit wall had collapsed and killed 9 miners last week. In a disclosure to the Philippine Stock Exchange (PSE), […]

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RFM to preterminate P252M long-term loan

Food and beverage company RFM Corporation said it is pre-terminating its remaining P252 million long-term loan this week due to a stronger cashflow. This will bring down long term debt to zero, making RFM long term loan debt-free. It also made a payment last May on its long-term loan amounting to P280 Million. “The stronger […]

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Meralco plans to form RE subsidiary

Power utility giant Manila Electric Company (Meralco) is still unperturbed on the expansion front – with a renewable energy (RE) subsidiary being planned as its next investment game plan in the sector. “Meralco will create a renewables unit separate from the legacy power plants to take a look at the prospects of renewables and including […]

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‘Contestable customers’ participation in retail competition still fledgling

At the voluntary phase of retail competition and open access (RCOA) in the restructured electricity sector, the participation of contestable customers (CCs) was still fledgling at just 36.5-percent level, entailing then that the industry players would need to step up when it comes to enticing more participants on that sphere. It was gathered that at […]

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Airlines need 558,000 new pilots over 20 years – Boeing

New York – Commercial airlines will need to recruit and train 558,000 new pilots over the next 20 years to meet rising travel demand, according to a Boeing forecast released Monday. About 40 percent of the new commercial pilots, or 226,000, will be needed in the Asia Pacific region, according to the report. The demand […]

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PNR hopes to resume city service this week

The government is optimistic that the Philippine National Railways (PNR) can resume its intercity operation late this week. This as the State-run PNR said it has already resolved almost all of the findings of the third-party consultant that was hired to assess the operational safety of the government-owned tracks. “So far, we have complied to […]

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Otto-led consortium prepares to drill oil well in South China Sea

An Australian-Filipino consortium led by Otto Energy Ltd. is set to drill a deep-water exploratory well in the South China Sea, a company director said on Monday, in the hope of discovering commercially viable oil reserves. Australia’s Otto, operator of Service Contract 55 (SC55) with a 78.18 percent interest in the permit issued by the […]

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The numbers look good

I found it difficult to believe that the budgetary deficit of the national government had shrunk to 0.58 percent of GDP (gross domestic product)  in 2014.  It was at 3.7 percent of GDP in 2004 and at 1.4 percent in 2013. I had to recompute the ratios several times for fear that I was making […]

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Lockheed Martin buying fabled helicopter maker Sikorsky for $9B

New York – Lockheed Martin said it will buy Sikorsky Aircraft, the storied US maker of the Black Hawk helicopter, in an all-cash $9-billion deal with United Technologies. ”Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,” said Marillyn Hewson, Lockheed Martin chairman, […]

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Isuzu Phils. sales surge nearly 60% in first half

Isuzu Philippines Corporation (IPC) sales  soared almost 60 percent in the first half of the year compared to the same period last year. Based on data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), IPC has enjoyed a 58.2-percent sales growth for the first half of […]

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