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The PSE’s first IPO might be delayed until next quarter
A report from Iris Gonzales of The Philippine Star said that the Citicore Renewable Energy Corp. IPO might be moved from late March to sometime in Q2 to be more “in line with the expected lowering of interest rates” and to give CREC more time to “complete some remaining regulatory requirements”......»»
ADB lends $20 million for affordable housing project
The Asian Development Bank is extending up to $20 million worth of loans to Lhoopa Inc. to bankroll its affordable housing project in the Philippines......»»
ADB lends P2.4 billion to iSON for buildup of telco towers
The Asian Development Bank is extending P2.4 billion in loans to iSON Tower Limited Inc. to bankroll the construction and operation of 800 shared telecommunication towers in the country......»»
ADB OKs $400,000 assistance to Philippines for offshore wind projects
The Asian Development Bank is extending $400,000 to the Philippines to support the development of offshore wind ports in the country......»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
FACT CHECK: Vlog posts misleading facts and photos of BBM’s infra projects
While the video accurately listed the pending infrastructure of the administration, it incorrectly used photos that were taken from other countries to refer to certain local projects......»»
The biggest infra company
San Miguel Corp. president and CEO Ramon S. Ang and Metro Pacific Investments Corp. chair, president and CEO Manuel V. Pangilinan are talking to merge their respective tollways operations – SMC Tollways (under San Miguel Infrastructure Holdings) and Metro Pacific Tollways Corp. MPIC......»»
More Infra Needed as BPO Workers Rises to 1.7 Million Workers by End of 2023
The business process outsourcing in the Philippines employed a total of 1.7 million workers and generated revenues worth at least 35 billion USD at the end of 2023, according to a report. But for the local industry not to get left behind by other countries, stakeholders want continued investment in infrastructure, real estate, reliable internet, […].....»»
P173-M infra projects in Cotabato barangays up
The Cotabato provincial government has enlisted the support of the local communities in monitoring 24 new infrastructure projects, costing P173 million, in different barangays intended to boost the investment potentials of the province......»»
Davao Bus Project to begin major infra construction
FOLLOWING the ceremonial signing of civil works contracts for the construction of the Davao Bus Project’s infrastructure facilities (e.g. terminals, depots and bus stops), the City Government of Davao extended its gratitude to the Department of Transportation (DOTr) and appealed to the agency to guarantee appropriation necessary to deliver the project on time......»»
Philippine Infradev COO claims Makati Subway Project not very affected , that project will still continue
Philippine Infradev COO Georgina Monsod gave an interview with Hitoshi Iemura of Global Strategy Real Estate that was posted on Youtube on Nov. 28, 2023, where she spoke about the September court decision that altered the land distribution between Taguig and Makati, and about how that might impact INFRA’s crown jewel project, the Makati City Subway......»»
Daily Gospel, February 1
This is the Daily Gospel for today, February 1, 2024, Thursday of the Fourth week in Ordinary Time. Holy Gospel of Jesus Christ according to Saint Mark 6,7-13. Jesus summoned the Twelve and began to send them out two by two and gave them authority over unclean spirits. He instructed them to take nothing for.....»»
Bomb scare at NAIA delays Japan flight
On Wednesday, Japan-bound Philippine Airlines (PAL) flight, PR412, was delayed for five hours due to a bomb threat call received by airport authorities from an unidentified woman......»»
Stocks sink on rising geopolitical tensions
The stock market took its deepest plunge for the year as concerns over escalating geopolitical tensions overseas and delayed rate cuts at home prevailed......»»
Peso may outperform peer currencies this year
The peso is seen outperforming other currencies in the region this year, but is not likely to strengthen against the dollar due to expectations of delayed rate cuts and the Philippines’ trade deficit, according to British banking giant HSBC......»»
Brgy captain of 76-A questions delayed food distribution for fire victims
THE head of Barangay 76-A raises concern over food assistance for residents affected by the two fire incidents that occurred on Sunday, April 7, 2024......»»
Brgy captain of 76-A questions delayed food distribution for fire victims
THE head of Barangay 76-A raises concern over food assistance for residents affected by the two fire incidents that occurred on Sunday, April 7, 2024......»»
Baltimore bridge collapse could lead to delayed shipments, higher shipping costs
The closure of the Port of Baltimore in the US following the collapse of the Baltimore key bridge is expected to lead to shipment delays and higher shipping costs......»»
China sidetracked as funding source for PNR Bicol
The government is taking another funding route for the Philippine National Railways South Long Haul, also called the PNR Bicol instead of China. It is seeking the assistance of the Asian Development Bank instead to pursue the long-delayed rail project......»»
Eight players share first-round lead at Puerto Rico Open
(Photo credit: Jim Cowsert-USA TODAY Sports) Eight players shared the lead at 7-under 65 following Friday morning's conclusion of the rain-delayed first round at the Puerto Rico Open in Rio Grande. Scott Piercy and Joe Highsmith were the leaders in the clubhouse when play was halted for darkness on Thursday, following a nearly two-hour rain delay. Friday started with 54 players completing the opening round and saw six o.....»»