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Firm tapped to monitor Grab compliance

The country's antitrust body appointed an international firm to track and audit Grab Philippines, a move which would see if Grab is indeed committing to its agreement with the government to pr.....»»

Category: newsSource: philippinetimes philippinetimesOct 11th, 2018

PCC taps UK firm to keep track of Grab’s ‘voluntary commitments’

THE Philippine Competition Commission (PCC) tapped a United Kingdom-based audit firm to monitor Grab Philippines’ (MyTaxi.PH, Inc.) fulfillment of its voluntary commitments in relation to its acquisition of Uber Philippines in March. The post PCC taps UK firm to keep track of Grab’s ‘voluntary commitments’ appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsOct 10th, 2018

PCC taps independent auditor for Grab compliance

The Philippine Competition Commission (PCC) has appointed Smith & Williamson to serve as the independent third party firm to track and audit for 12 months Grab Philippines’ compliance with the antitrust body’s commitment decision......»»

Category: financeSource:  philstarRelated NewsOct 12th, 2018

Competition watchdog approves Grab-Uber deal

THE PHILIPPINE COMPETITION COMMISSION (PCC) has cleared Grab Philippines’ (MyTaxi.PH Inc.) acquisition of the local business of Uber and Uber Systems, Inc., but will monitor for a year the former’s compliance with quality and pricing standards it had committed to. The post Competition watchdog approves Grab-Uber deal appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 10th, 2018

Man City faces repercussions for misleading UEFA on finances

By Rob Harris, Associated Press LONDON (AP) — European soccer's leadership has an initial conclusion on leaked Manchester City correspondence: The club has been misleading UEFA over its finances. With the power to ban clubs from the Champions League, the consequences from UEFA could be severe for the Premier League champions. UEFA discovered from reading internal emails from City, which were published by German media outlet Der Spiegel last month, the extent of schemes by the club to allegedly cover up the true source of income in a bid to comply with Financial Fair Play regulations, a person with direct knowledge of the situation told The Associated Press. The person spoke on condition of anonymity because they were not authorized to discuss the situation publicly while UEFA conducts a review of the City case. City has been transformed into an English soccer power in the decade since being bought by Sheikh Mansour bin Zayed Al Nahyan, a deputy prime minister of the United Arab Emirates and a member of Abu Dhabi's royal family, winning the Premier League three times since 2012. But unfettered spending on players has been restricted by European soccer's governing body — regardless of the owners' wealth. City has already been punished by UEFA for violating FFP, striking an agreement in 2014 that saw the team fined rather than banned from the Champions League for inflated sponsorship deals with companies linked to the club or its ownership. UEFA publicly said last month that evidence from "Football Leaks" could lead to past cases being re-opened. The person with knowledge of the situation said it was more feasible to use the leaks to re-assess the candor of club executives and as a basis to judge City's compliance with FFP in the current three-year assessment period. That covers 2015 when Der Spiegel said emails were being sent internally at City showing the manipulation of sponsorship revue from Etihad Airways, the state-owned airline from Abu Dhabi, which is the naming rights sponsor of City's stadium and training campus as well as appearing on jerseys. The sponsorship was said to generate 67.5 million pounds (about $85 million) annually for City. But City's holding company — the state-backed Abu Dhabi United Group — channeled 59.9 million pounds back to Etihad, according to Jorge Chumillas, the club's chief financial officer, in an internal email to club director Simon Pearce. City has not disputed the authenticity of any emails published by Der Spiegel over the last month. Given the fresh insight into City's financial dealings, UEFA President Aleksander Ceferin has said there was a "public interest" in the correspondence being leaked, while questioning how it was obtained. "We are assessing the situation. We have an independent body working on it," Ceferin said Monday. "Very soon you will have the answers on what will happen in this concrete case." FFP was the flagship policy of Michel Platini, Ceferin's predecessor as UEFA president, and introduced at the height of the global financial crisis in attempt to prevent clubs from becoming unsustainable. Since July 2011, UEFA has monitored the accounts of all clubs entering its two club competitions. The first period UEFA assessed clubs for compliance with FFP was 2011-13, when owners were allowed to cover losses up to 45 million euros. The leaks showed how City allegedly tried to artificially raise its revenue, in one case by 30 million euros, according to emails from 2013 reported by Der Spiegel. Abu Dhabi United Group was alleged to be sending cash to a shell vehicle which was created to supposedly buy the right to use players' images in marketing campaigns. There were further examples that Sheikh Mansour could have been the source of sponsorship revenue for Abu Dhabi state-owned companies like investment firm Aabar. Der Spiegel cited a 2010 email to Aabar from Pearce, the City director who also works for Abu Dhabi's Executive Affairs Authority. "As we discussed, the annual direct obligation for Aabar is GBP 3 million," Pearce wrote. "The remaining 12 million GBP requirement will come from alternative sources provided by His Highness." Seeing internal City correspondence has given UEFA a greater insight into the conduct of the club and its officials. A 2014 email from City lawyer Simon Cliff to a colleague showed the death of UEFA's lead FFP investigator being celebrated: "1 down, 6 to go." UEFA is examining whether to open disciplinary cases against individuals at City involved in attempts to provide a misrepresentation of club finances to the governing body's FFP accessors, another person with direct knowledge of the situation said. The person, who did not identify any individuals, spoke to the AP on condition of anonymity because they were not authorized to publicly discuss the City case. A challenge for UEFA is getting City to provide information from related companies in Abu Dhabi that the leaks show are central to compliance with FFP. City has repeatedly declined to respond to the specific allegations in the leaks, dismissing a month of negative headlines by saying: "The attempt to damage the club's reputation is organized and clear." But City has had no such qualms using its website to cast aspersions on the reputations of other clubs over their ability to comply with FFP. City has used the media watch section on its website to cite unsubstantiated news reports, including a claim in 2016 that "Inter Milan are looking to circumnavigate FFP" and speculation this year that if Paris Saint-Germain "are found to have broken FFP regulations they face being booted out of the Champions League." Those pages were deleted from its website after City was approached for comment by the AP......»»

Category: sportsSource:  abscbnRelated NewsDec 5th, 2018

BPI taps Illinois-based firm for new headquarters

Ayala-led Bank of the Philippine Islands (BPI) has tapped Illinois-based Skidmore, Owings & Merrill LLP (SOM) to do the plan for its new headquarters at the corner of Ayala and Paseo de Roxas avenues in Makati City......»»

Category: financeSource:  philstarRelated NewsDec 3rd, 2018

‘Coliform high in Panglao, El Nido beaches’

“Very high” levels of coliform have been found at popular resorts in Panglao in Bohol and in El Nido in Palawan, according to an inter-agency body tasked to monitor tourist attractions and ensure their compliance with environmental laws......»»

Category: newsSource:  philstarRelated NewsDec 1st, 2018

House OKs expanded anti-sexual harassment bill | News

The House of Representatives has approved on third and final reading a bill that seeks to expand the definition of sexual harassment and strengthen mechanisms to monitor policy compliance against thes.....»»

Category: newsSource:  manilanewsRelated NewsNov 13th, 2018

House approves expanded anti-sexual harassment bill

  Stiffer penalties may soon await those who will commit sexual harassment in the workplace or while in training and in educational institutions after the House of Representatives approved on Monday night the "Expanded Anti-Sexual Harassment Act." With 162 voting in the affirmative, and zero negative and abstention, the chamber approved on third and final reading House Bill (HB) No. 8244.   The bill aims to expand the definition of sexual harassment, strengthen the mechanisms to monitor compliance with policies against sexual harassment in the workplace and in educational and training institutions, as well as prescribe penalties for violations. It also seeks to repe...Keep on reading: House approves expanded anti-sexual harassment bill.....»»

Category: newsSource:  inquirerRelated NewsNov 13th, 2018

Grab launches food service, brings Crave City to BGC

MANILA, Philippines – In a bid to be the "everyday super app," Southeast Asia ride-hailing giant Grab officially launched "GrabFood" on Wednesday, November 7. GrabFood is the firm's food delivery service that allows users to order from restaurants through the app and brings it directly to their doorstep, ........»»

Category: newsSource:  rapplerRelated NewsNov 7th, 2018

Leaks reveal Man City deal to hide player costs from UEFA

By Graham Dunbar, Associated Press GENEVA (AP) — Manchester City created a shell company for a commercial deal to disguise tens of millions of dollars in income from UEFA investigators, according to club documents cited by a German magazine. Der Spiegel cites internal Man City correspondence to show the team's holding company, state-backed Abu Dhabi United Group, paid the shell firm to "buy" player image rights from the club. The magazine reported that Man City officials detailed a long-term search for "creative solutions" to hiding expenses and evading UEFA monitoring of spending on players. Man City risked Champions League expulsion in 2014 if a UEFA club finance panel had found it had severely breached "Financial Fair Play" rules, designed to curb overspending on player costs. Critics say FFP protects storied clubs from ambitious rivals with new and wealthy owners. Der Spiegel is leading the Europe-wide publication of the "Football Leaks" documents. In recent days, European media have detailed plans shaped by Real Madrid for a breakaway European Super League kicking off in 2021, and how FIFA President Gianni Infantino has intervened in its independent ethics committee's work. Der Spiegel also reported last Friday that Man City threatened to destroy UEFA with legal action before reaching a 2014 settlement to forfeit 20 million euros ($22.8 million) in prize money. Man City has not disputed the authenticity of the documents, and said an "attempt to damage the club's reputation is organized and clear." Asked about what was reported in Der Spiegel, Man City manager Pep Guardiola said Tuesday: "Of course I trust the club, what they have done. Of course we want to follow the rules. UEFA, FIFA and the Premier League, they do what they have to do. Believe me, I'm completely honest, I don't know what happened, I'm a manager, focused on the pitch, the locker room." "I'm part of the club, I support the club," added Guardiola, who was speaking at a news conference ahead of City's Champions League match against Shakhtar Donetsk on Wednesday. "We want to do what we have to do in terms of the rules." Since Man City was bought with Abu Dhabi sovereign wealth in 2008, a team long in the shadows of more glamorous Manchester United has overtaken its rival on the field. City achieved this spending more than 1 billion pounds ($1.3 billion) to win a first Premier League title in 2012. This rise coincided with UEFA creating rules — in consultation with the European Club Association — to limit spending within a club's ability to generate revenue. Der Spiegel cited Man City documents in which officials wrote: "Without significant additional revenues ... UEFA FFP compliance WILL NOT be achieved." City CEO Ferran Soriano complained in one memo that ECA members were pushing for the UEFA rules — which many thought could curb the rise of Man City and Qatari-owned Paris Saint-Germain. "We will need to fight this," Soriano wrote, according to the magazine, "and do it in a way that is not visible, or we will be pointed out as the global enemies of football." Man City apparently wanted to shift some costs away from the club and helped set up a shell company called Fordham Sports Management with two British investors. It was supposedly used as a vehicle to disguise payments to players for the right to use their image in marketing campaigns. Der Spiegel said this helped turn almost 30 million euros ($34 million) into revenue instead of a cost, for the purpose of UEFA's investigation of club accounts......»»

Category: sportsSource:  abscbnRelated NewsNov 7th, 2018

Grab expands service to Tacloban 

Ride-hailing firm Grab started its operation in Tacloban, boosting its expansion plan in the country as it teamed up with Lhuillier Taxi with 55 units, allowing riders in the area...READ MORE The post Grab expands service to Tacloban  appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsOct 26th, 2018

Grab to Lower Surge Rates for Holiday Season

Ridesharing firm Grab Philippines is set to lower the surge rate on its fares amid increasing demand for ride among its passengers for the holidays, a company official said Monday. “If you see that prices are always surging due to lack of supply and higher demand, that surge cap would be further brought down to […].....»»

Category: newsSource:  metrocebuRelated NewsOct 23rd, 2018

Uber to appeal Singapore competition watchdog s penalty

SINGAPORE - Months after Uber Technologies sold its Southeast Asian business to the Singapore-based firm Grab, both the companies were slapped with a huge penalty by Singapore's competition wat.....»»

Category: newsSource:  philippinetimesRelated NewsOct 22nd, 2018

Uber to challenge anti-competitive penalty in Singapore

SINGAPORE - Months after Uber Technologies sold its Southeast Asian business to the Singapore-based firm Grab, both the companies were slapped with a huge penalty by Singapore's competition wat.....»»

Category: newsSource:  manilanewsRelated NewsOct 22nd, 2018

Exercise, recipe videos coming to a Grab ride near you

MANILA, Philippines – Exercise videos and recipe videos are coming soon to Grab rides in the Philippines.  Singapore-based out-of-home advertising firm IDOOH International and fitness-oriented tech company Active8me are partnering with Grab to provide in-vehicle screens that show instructional fitness videos and recipe videos. It aims to promote wellness and ........»»

Category: newsSource:  rapplerRelated NewsOct 15th, 2018

Grab Expands Mobile Wallet Services

Ridesharing firm Grab has expanded its mobile wallet services in the country to paying utility bills, food delivery orders, store purchases and restaurant bills. This, as the Bangko Sentral ng Pilipinas has licensed the firm to operate as an electronic money issuer last August. In its statement, Grab said that its users will now be […].....»»

Category: newsSource:  metrocebuRelated NewsSep 28th, 2018

Blockchain firm partners with Grab on rewards

LOCAL blockchain company LoyalCoin said it has partnered with Grab Philippines (MyTaxi.PH, Inc.) to allow riders to pay for their trips through a crypto digital wallet called LoyalWallet. The post Blockchain firm partners with Grab on rewards appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 24th, 2018

Grab blames LTFRB for ‘supply crisis’

The Land Transportation Franchising and Regulatory Board (LTFRB) apparently has a bone to pick with ridesharing firm Grab after the transport network company (TNC) blamed the supposed “supply crisis” in the sector on the government......»»

Category: newsSource:  philstarRelated NewsSep 17th, 2018

Anti-trust body OKs Grab-Uber deal, with conditions

The Philippine Competition Commission has cleared Grab’s acquisition of Uber, although this is still subject to compliance with the conditions set for service quality and pricing standards......»»

Category: newsSource:  philstarRelated NewsAug 11th, 2018

Ride-sharing firm asks LTFRB to drop Grab accreditation for ‘unfair’ business practices

A transport network vehicle service (TNVS) on Friday announced that it would be filing a petition against competitor Grab Philippines before the Land Transportation Franchising and Regulatory Board (LTFRB) not to renew its certificate of accreditation for alleged “unfair” business practices. In a press briefing, Hype, through its legal counsel John Coluso, cited the high [...] The post Ride-sharing firm asks LTFRB to drop Grab accreditation for ‘unfair’ business practices appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsAug 10th, 2018