Microsoft ramps up telemedicine with $19.7 billion purchase of Nuance

Microsoft will acquire artificial intelligence and cloud computing company Nuance for $19.7 billion, bolstering the telemedicine services that became essential during the pandemic, the tech giant announced Monday......»»

Category: techSource: thestandard thestandardApr 13th, 2021

Local Roundup: & bull; P75B vaccines for teens, adults & bull; Razon s Moderna & bull; Rollout revved

Finance Secretary Carlos Dominguez III on Thursday said the government would likely need around P75 billion to purchase vaccines for approximately 15 million teenagers and 70 million adults in the country......»»

Category: newsSource:  thestandardRelated NewsMay 13th, 2021

MPTC allots P30 billion capex for 2021

Metro Pacific Tollways Corp. is alloting more than P30 billion for capital expenditures for this year as it ramps up construction of vital infrastructure projects which are set for completion in the next two years......»»

Category: financeSource:  philstarRelated NewsApr 25th, 2021

Government questioned over failure to procure PPEs for frontliners

A House leader yesterday questioned the government’s failure to purchase high-grade personal protective equipment for frontline health workers despite the P2-billion allocation under the Bayanihan laws last year......»»

Category: newsSource:  philstarRelated NewsApr 14th, 2021

Makati subway builder signs deals to acquire construction site

Philippine Infradev Holdings Inc. said Tuesday it signed new deals for the financing and purchase of lots that will be used in the $3.7-billion Makati City Subway Project......»»

Category: financeSource:  thestandardRelated NewsMar 10th, 2021

Budget chief: Philippines ready to spend P73 billion for vaccine purchase

The government is ready to spend as much as P73 billion to provide COVID-19 vaccines to about 60 million Filipinos – or enough to enable the country to achieve herd immunity, the Department of Budget and Management said yesterday......»»

Category: newsSource:  philstarRelated NewsDec 5th, 2020

DoF to borrow $300M to buy COVID vaccine

Middle- to high-income Filipinos could pay for their own coronavirus vaccine, President Rodrigo Duterte said Tuesday night, as he revealed a plan to borrow US$300 million (about P15 billion) to purchase the cure to COVID-19 for all Filipinos......»»

Category: newsSource:  thestandardRelated NewsNov 11th, 2020

AREIT buys P5.1-B office mall

AREIT Inc., the real estate investment trust sponsored by Ayala Land Inc., has acquired a mall and office development in Pasig City from the real estate giant for P5.1 billion.                 In a disclosure to the Philippine Stock Exchange, AREIT said it is buying The 30th, a 76,000 square meter commercial development located along Meralco Avenue in Pasig City. “The asset will increase AREIT’s portfolio to 246,000 square meters of GLA from 170,000 square meters and will contribute to its net income and dividends in 2021,” AREIT said. The 30th is a commercial development that was planned and developed by Ayala Land and completed in 2017. The office building is fully occupied predominantly by BPO companies. The 30th includes an amenity retail podium which will be operated and leased by Ayala Land from AREIT. Simultaneous to the acquisition of the building by AREIT, ALI will assign the long-term land lease to AREIT. AREIT wil lease office spaces to tenants, and the retail podium to Ayala Land under a fixed lease as operator of the retail spaces. The acquisition will be funded through debt. It will be a cash purchase with the installment schedule to be agreed by the parties. Currently, AREIT has no debt thereby allowing it to acquire assets that are yeld accretive through leverage. “This demonstrates AREIT’s ability to grow its portfolio and add value to its shareholders while its Sponsor, Ayala Land, Inc. can recycle the capital for its real estate projects in the Philippines,” AREIT said......»»

Category: newsSource: NewsOct 24th, 2020

Roque to Congress: Consult Palace on increasing budget for vaccines

Any congressional move to raise the proposed 2021 budget for the coronavirus vaccine should at least be done in consultation with the Executive branch, according to a Palace official.  Presidential Spokesperson Harry Roque (RESIDENTIAL PHOTO / MANILA BULLETIN) Presidential spokesman Harry Roque said while they respect Congress’ wisdom to hike the vaccine budget for the next year, the issue on its funding source must also be addressed. “The power of purse is vested in Congress. We will bow to the wisdom of Congress should they deem it fit to increase the budget for the vaccine, and of course, may pagkukuhanan po iyan (there will be a funding source for that),” he said during a Palace press briefing Thursday. “So we hope that Congress will at least confer with the Executive kung saan nila kukunin iyong pondo para itaas ang budget for the vaccine (on where the funds will be obtained to raise the budget for the vaccine),” he added. Nonetheless, Roque affirmed the administration’s resolve to ensure the country has adequate funds for the vaccine procurement once the life-saving drug becomes available.“We join Congress in our desire that we should have sufficient funds to pay for the vaccine, which according po to (Philippine) Ambassador (to China) Chito (Sta. Romana) is really forthcoming in the near future,” he said.The House of Representatives has reportedly introduced several amendments to its approved 2021 national budget, including a higher budget for the purchase of COVID vaccines to P8 billion.  In the original Palace-backed P4.5 trillion national budget proposal, at least P2.5 billion has been allocated for the COVID-19 vaccination program under the Department of Health’s budget. House Majority Leader Martin Romualdez, who leads a small group in charge of amendments to the budget bill, said the additional P5.5 billion to augment the vaccine budget aims to ensure safe and effective vaccine will be available to Filipinos. “This is to support President Rodrigo Duterte’s program to strengthen the country’s health care system. We believe that vaccines play a very crucial role in keeping the population safe and healthy from the pandemic,” the Leyte lawmaker said.  On the part of the Senate, Senator Panfilo Lacson disclosed plans to increase funding for the coronavirus vaccine under the proposed 2021 national budget. Last week, the President said the government has the funds to buy the coronavirus vaccine once it is available but would need more money to vaccinate all Filipinos. Duterte earlier vowed to give priority to the poor, the police and military personnel in the distribution of free vaccines.  He said the country will buy the most affordable vaccine to be sold in the market given the government’s limited resources. .....»»

Category: newsSource: NewsOct 22nd, 2020

House: Amendments include hike in vaccine budget

The House of Representatives has increased the budget for the purchase of COVID-19 vaccines next year to P8 billion......»»

Category: newsSource:  philstarRelated NewsOct 21st, 2020

Memorial lot investments yield good ROI – Golden Haven

Investing in a memorial lot offers higher yield, according to the top executive of Golden Haven Memorial Park. Red Rosales, chief operating officer of the country’s first integrated memorial parks, reported of the huge price valuation of Golden Haven lot owners. Investing in Golden Haven lots now will grant you high returns in the future. When its Golden Haven Memorial Park, Las Pinas first opened in 1984, memorial lots cost only P5,000. “Today that value has gone up to P378,000, showing an impressive 2,240 percent increase or 67 percent increase per annum,” said Rosales. Golden Haven Memorial Park in Las Piñas, a 15-hectare property that features elements of Spanish architecture and a beautiful Butterfly Garden for people of all ages to enjoy. When the park first opened in 1984, memorial lots at this location cost P5,000. The Villar Group owned Golden Haven has also other memorial park investments in other locations. The Golden Haven Cebu, the most beautiful memorial park in the country inspired by Italian design, costs only P25,000 per plot in 2005. Today, a lot at Golden Haven Cebu costs P232,000, an increase of over 828 percent in value or a 46 percent increase per annum. This mountaintop sanctuary maximizes the enchanting surroundings with its various amenities such as the Pope John Paull II Memorial Hill, the Garden Plaze, the Imperial Gardens, among others. Still another choice place is the Golden Haven Memorial Park in Cagayan de Oro which is known for its majestic replica of the famed Christ the Redeemer statue at Rio de Janeiro, Brazil. In 2007, memorial plots at this beautiful location cost P33,000. Today, those plots now cost P89,000, boasting a 170 percent increase in value.  Under normal circumstances, Rosales said that investing in a memorial lot might be the last thing on many people’s minds. After all, the pursuit of leisure and other mundane affairs often take precedence over matters like a final resting place—for themselves or for those they love.          However, Rosales said that realizing how fragile and unpredictable life is may motivate people into making smart decisions now such as investing in a memorial lot at any of Golden Haven’s premier locations. Families go to Golden Haven Memorial Parks not just to visit those long gone but also to forge new happy memories together. “Because there is no telling what lies ahead for all of us, now is actually the best time to invest in a beautiful final resting place that befits the wonderful memories we shall leave behind. In this regard, there is no better choice than a prime lot at any of Golden Haven Memorial Park’s many locations across the country,” he said.  But people do not just buy a memorial lot, they now choose parks that are strategically located, beautifully designed, and high potential for growth.    According to Rosalies, families go to Golden Haven Memorial Parks not just to visit those long gone but also to forge new happy memories together. “Golden Haven inspires this through its elegant architecture that complement the park’s picturesque naturescapes,” said Rosales.  Golden Haven has more going for it than its beautiful parks and tranquil settings that honor the dearly departed. As with any piece of real estate, memorial lots at Golden Haven increase in value over time. “With an annual appreciation of 20 percent, investing in Golden Haven lots now will grant you high returns in the immediate future,” he said. The pandemic also presents opportunities for clever investors—both seasoned and beginners—to purchase properties while price increases have been temporarily halted. He said that many developers are now offering incredibly flexible terms and even substantial discounts to prospective property seekers. They can come in at a low cost—with no risks involved—but with a proven high return on their investments. “Nowhere is this more evident than at Golden Haven, one of the most trusted names in the deathcare industry,” he said. As it works towards having a memorial park in every Filipino’s hometown, Golden Haven now boasts of thirty beautiful and enticing sites across the country, offering memorial lots that make perfect low-risk and safe investments. For the numbers do not lie when it comes to Golden Haven. Rather, they tell a story of continuous growth. Golden Haven is a subsidiary of publicly listed Golden Bria Holdings Inc., currently positioned as the third largest real estate company in the country in terms of market capitalization valued at more than P200 billion......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

Landbank approves P4.3 billion loans for palay purchase

Small rice farmers will now have an alternative market for their produce as state-run Land Bank of the Philippines approved P4.3 billion in loans which will be used by local government units to directly purchase palay (unhusked rice)......»»

Category: newsSource:  philstarRelated NewsOct 13th, 2020

Saudi& rsquo;s NCB buying Samba in bank merger valued at $15b

Riyadh, Saudi Arabia---Saudi Arabia’s National Commercial Bank on Sunday said it will purchase rival lender Samba in a deal valued at around $15 billion to create what would be the kingdom’s largest bank......»»

Category: financeSource:  thestandardRelated NewsOct 12th, 2020

Lawmaker defends government importation of PPEs

A ranking congressman yesterday defended the government’s purchase of personal protective equipment from Chinese companies, which Sen. Risa Hontiveros claimed to be overpriced by P1 billion......»»

Category: newsSource:  philstarRelated NewsSep 22nd, 2020

Microsoft buys gaming firm ZeniMax Media for $7.5 billion

Software giant Microsoft on Monday announced would acquire ZeniMax Media for $7.5 billion, marking a major expansion into video gaming that will give it ownership of several best-selling franchises......»»

Category: techSource:  thestandardRelated NewsSep 22nd, 2020

No free vaccines for gov’t officials

A lawmaker has appealed to the Duterte administration to not include high ranking government officials in the free vaccine plan. Agusan del Norte Rep. Lawrence Fortun made the suggestion after the the Duterte administration announced that it will purchase P20 billion worth of vaccines once the same becomes available.    President Rodrigo Duterte said the […] The post No free vaccines for gov’t officials appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsAug 2nd, 2020

PH, Japan sign P75.5-b loans for infra projects

The Philippines and Japan signed on Tuesday two loan agreements worth a combined P75.5 billion (about 154 billion yen) for two big-ticket projects in Visayas and Mindanao under the “Build, Build, Build” infrastructure program as the Duterte administration ramps up infrastructure investments to help the country recover quickly from the coronavirus-induced global economic crisis......»»

Category: financeSource:  thestandardRelated NewsJun 17th, 2020

UnionBank ramps up digitalization

Aboitiz-led Union Bank of the Philippines (UnionBank) is banking on its digitalization strategy and strong balance sheet to weather the current coronavirus disease (COVID-19) pandemic. UnionBank treasurer and chief financial officer Jose Emmanuel Hilado said the bank is allocating P2.5 billion in capital spending for this year, about 70 percent of which is earmarked for […] The post UnionBank ramps up digitalization appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMay 23rd, 2020

LGUs purchase P1.58 billion directly from farmers

Local government units have purchased P1.58 billion worth of agricultural products directly from farmers since the government imposed the enhanced community quarantine in March......»»

Category: newsSource:  philstarRelated NewsMay 8th, 2020

Government to buy P3.3 billion virus test kits ASAP – Duterte

President Duterte has approved the immediate purchase of about P3.3 billion worth of polymerase chain reaction based and rapid testing kits through the Office of Civil Defense, as the government embarks on the mass testing of people for coronavirus disease 2019......»»

Category: newsSource:  philstarRelated NewsApr 14th, 2020

Videoconferencing skyrockets on Microsoft s Teams software

SAN FRANCISCO, USA – The number of calls made using Microsoft's Teams videoconferencing software surged 1,000% in March as people collaborated online due to the coronavirus pandemic, the company said Thursday, April 9. It also said a new record of 2.7 billion "meeting minutes" in a single day had been reached ........»»

Category: newsSource:  rapplerRelated NewsApr 10th, 2020