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Vehicle sales rev up by 23% in February
Vehicle sales accelerated by more than a fifth in February from a year ago, supported by automotive firms’ marketing efforts as well as stable interest rates......»»
Philippine food firms’ sales hit $133 million in Dubai fair
Philippine food companies generated $133 million worth of export sales from a food trade show held in Dubai last month, according to the Center for International Trade Expositions and Missions......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»
UPS expands Clark operations
Logistics giant UPS is expanding operations at the Clark International Airport in Pampanga as part of its $250-million commitment to scale up its Asia-Pacific business......»»
Social Media Firms Shares Soar in Stock Market Debut
India’s GDP Growth Rate Drops to 4.7% in Latest Quarter According to provisional data released by the Central Statistical Office, India’s GDP growth rate has.....»»
Oil price hike expected this Holy Week
Oil firms are expected to implement an increase in pump prices on Holy Tuesday, March 26......»»
Nikon acquires Red Digital Cinema, enters professional video market
Nikon Acquires Red Digital Cinema to Enter Professional Digital Cinema Camera Market In a strategic move to expand into the professional digital cinema camera market,.....»»
Rain or Shine receives 1st-round picks as PBA approves Nambatac trade
Rain or Shine lets go of Rey Nambatac as it acquires a pair of first-round picks from Blackwater.....»»
AREIT acquires Seda LIO
AREIT acquires Seda LIO.....»»
Choco Mucho acquires Tubino
Choco Mucho plucked veteran Royse Tubino recently, hoping that the former Army standout would be the last piece of the championship puzzle the franchise has long sought for in the Premier Volleyball League......»»
PNP acquires P485 million guns, mobility assets
The Philippine National Police has procured firearms and mobility equipment amounting to P485 million......»»
Unity acquires 329 towers from Smart-PLDT & Globe; Enters 2024 with 1,100 Sites
December 22, 2023, MANILA, PHILIPPINES – Unity Digital Infrastructure Inc. (“Unity”) enters 2024 with approximately 1,100 tower sites after recently closing 250 and 79 towers sites from Smart Communications, Inc. (“Smart-PLDT”) and Globe Telecom, Inc. (“Globe”), respectively. Smart-PLDT has transferred 75% of the 650 sale and leaseback tower sites to Unity since getting Philippine Competition […].....»»
PH acquires Japan-built radar system to bolster WPS defense
SAN FERNANDO CITY, LA UNION — The Philippines’ newest detection system for aerial and naval threats in the West Philippine Sea was officially handed over to the Philippine Air Force at a ceremony on Wednesday. Advanced Air and Naval Threat Detection System Handed Over to Philippine Air Force in West Philippine Sea Ceremony The Japanese-built radar.....»»
AREIT acquires P23 billion assets from Ayala Land
AREIT Inc., the real estate investment trust of the Ayala Group, will acquire P23 billion worth of prime commercial properties from its sponsor Ayala Land Inc......»»
AREIT acquires P6.8B industrial land
AREIT acquires P6.8B industrial land.....»»
Monde Nissin acquires funding for meat alternative firm
Monde Nissin Singapore Pte. Ltd., a subsidiary of food and beverage giant Monde Nissin Corp., has secured financial backing from its majority family shareholders for its meat alternative venture, Quorn Foods......»»
Neither estafa nor qualified theft (2)
In Balerta v. People, the Court found that juridical possession as an element of the crime of estafa by misappropriation was not present because the accused was a cash custodian with no independent right or title to the funds received: In the case at bench, there is no question that the petitioner was handling the funds lent by Care Philippines to BABMPC. However, she held the funds on behalf of BABMPC. She had mere physical or material possession over the funds but held no independent right or title, which she could set up against BARMPC. The petitioner was nothing more than a mere cash custodian. Hence, the Court finds that juridical possession of the funds as an element of the crime of estafa by misappropriation is absent in the instant case. In Reside v. People, the Court came to a similar conclusion and held that the accused, a school principal tasked to receive tuition fees and forward these to the school, did not have juridical possession over the funds received. In the case at bench, it cannot be gainsaid that the petitioner, in addition to her duties as principal, was authorized to receive or collect matriculation fees from the parents and/or students enrolled in TGWSI. Per a verbal agreement with De Dios, the petitioner shall forward all payments received together with the remittance voucher slips to the school. As it happens, the money merely passes into the petitioner’s hands, and her custody is only until the same is remitted to the school. Consequently, as principal and temporary cash custodian of TGWSI, the petitioner acquires only physical or material possession over the unremitted funds. Thus, being a mere custodian of the unremitted tuition fees and not, in any manner, an agent who could have asserted a right against TGWSI over the same, the petitioner had only acquired material and not juridical possession of such funds and, consequently, cannot be convicted of the crime of estafa as charged. The prosecution alleged that petitioner Medina was responsible for collecting remittances from the Department of Education, accepting premium payments from PPSTA members, and depositing these payments in PPSTA’s bank account, as instructed by the PPSTA Treasurer. The record is bereft of any allegation or proof that petitioner Medina had any independent right or title to these funds that she could set up against PPSTA. Contrary to the findings of the CA, petitioner Medina was not a “trustee” of the PPSTA members’ payments, as she received these sums as an employee of, and on behalf of, her employer. Consequently, petitioner Medina only had material and not juridical possession of these funds, and she cannot be convicted for estafa under Article 315 (b) (l) of the Revised Penal Code or RPC. Second, jurisprudence holds that a conviction for simple or qualified theft (in lieu of estafa) is possible if all the elements of theft are alleged in the information. However, the evidence on record needs to be more sufficient to convict petitioner Medina of theft, whether simple or qualified. Simple theft is committed when the following elements concur: (1) taking of personal property; (2) that the said property belongs to another; (3) that the said taking be done with intent to gain; (4) that it be done without the owner’s consent; (5) that it be accomplished without the use of violence or intimidation against persons, nor of force upon things; and (6) that it be done with grave abuse of confidence. Theft becomes qualified when committed with grave abuse of confidence, among other qualifying circumstances enumerated in Article 310 of RPC. (To be continued) The post Neither estafa nor qualified theft (2) appeared first on Daily Tribune......»»
Metro Pacific unit acquires control of Antipolo hospital
Metro Pacific Health the largest group of private hospitals in the Philippines, has acquired a majority stake in Antipolo Doctors Inc., the owner and operator of Antipolo Doctors Hospital......»»
PLDT acquires Savannah Davison for PVL campaign
The PLDT High Speed Hitters have secured the commitment of Filipino-Canadian Savannah Davison ahead of the upcoming PVL conference......»»
Fruitas acquires Foodpanda tools
Backed by a newly-acquired top-notch technology, listed food and beverage kiosk operator Fruitas Holdings Inc., through its wholly-owned subsidiary Fly Kitchen Inc., is growing its cloud kitchen business to better serve the growing customer demand. In a stock exchange report on Tuesday, Fruitas Holdings disclosed that it bought out culinary equipment and technology formerly utilized by Foodpanda to support the planned expansion. “We are pleased to announce this tactical purchase of top-quality kitchen equipment from Foodpanda. This decision reflects our dedication to providing outstanding gastronomic experiences to our patrons,” Fruitas Holdings president and chief executive officer Lester Yu said. Foodpanda is a global food delivery service provider in 40 countries across five continents. Cloud only for delivery A cloud kitchen prepares food exclusively for delivery or takeout, without any dine-in customers. It is a cost-effective way for restaurants to expand their existing business or launch a new virtual brand. According to Fruitas, the acquisition will particularly enable Fly Kitchen’s menu expansion with new methods, processes, and flavors. By using cutting-edge equipment, the company can streamline its operations — from food preparation to presentation, resulting in even higher service and product quality. The advanced kitchen equipment will likewise give Fly Kitchen the freedom to experiment with new recipes, which will excite the taste buds of its loyal consumers and new customers. The kitchen equipment will open the door for the company to collaborate with and prepare third-party brands that would fit well with its present cloud kitchen operations. Starting with a single stall opened in 2002, the Fruitas group now operates over 25 brands in its portfolio, including food concepts such as Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, and Juice Avenue, among others. The group also recently launched Fruitas dairy-based ice cream and the Soy & Bean soy product line. The post Fruitas acquires Foodpanda tools appeared first on Daily Tribune......»»