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  • Gov’t subsidies rise nearly threefold in Feb

    April 23, 2017 4:06 PM 6

    State subsidies to government-owned and -controlled corporations (GOCCs) have risen by almost threefold in February due to the National Irrigation Administration (NIA), data from the Bureau of the Treasury showed. Based on the latest Cash Operations Report released by the Treasury, the national government’s total subsidies disbursed to several state-owned

  • Construction seen to fuel Phl growth

    April 23, 2017 4:00 PM 4

    MANILA, Philippines - The construction industry is expected to continue playing an important part in the Philippines’ projected economic growth, especially as the country embarks on the “golden age” of infrastructure. Construction Industry Authority of the Philippines (CIAP) undersecretary Ruth Castelo said the industry is seen growing its share of total

  • Gov’t subsidies to GOCCs hit P10B in Feb

    April 23, 2017 4:00 PM 4

    MANILA, Philippines - State owned and controlled firms received almost P10 billion in subsidies from the government in February 2017, data from the Bureau of the Treasury (BTr) showed. According to Treasury data, subsidies to government-owned and-controlled corporations (GOCC) reached P9.99 billion in February, more than three times higher than the P2.658 billion

  • Coffee lover? Learn more about your favorite brew at this shop

    April 22, 2017 9:04 PM 2

    Over the years, the Philippines has grown a coffee culture of its own as evidenced by a number of coffee shops that give their own spin to the usual cup. A break from the usual coffee shops, Coffee Science Center focuses on quality-based coffee farming in an effort to give customers the best brew. Whether you are looking for a coffee sensory workshop

  • United CEO Munoz will not chair board in 2018 following passenger furor

    April 22, 2017 2:08 AM 6

    United Continental Holdings Inc said on Friday Chief Executive Oscar Munoz will not become chairman in 2018, under an amendment to his employment agreement approved after an uproar over the treatment of a passenger. In a reversal of his earlier employment agreement, Munoz has opted to leave “future determinations related to the Chairman position to the discretion

  • United CEO Munoz no longer to become chairman

    April 22, 2017 1:44 AM 5

    NEW YORK–United Airlines said Friday it no longer plans to name chief executive Oscar Munoz chairman as it revised its compensation program following an uproar over its treatment of a passenger. Munoz and the airline were slammed with heavy criticism after a passenger was violently dragged off a United flight earlier this month in an incident that sparked

  • Oscar Munoz Won’t Get Planned Promotion to Chairman of United

    April 22, 2017 1:05 AM 5

    The chief executive of United Airlines, Oscar Munoz, became a casualty of the public relations crisis gripping the air carrier, as the company that runs the airline said on Friday that he would not ascend as planned to the role of chairman. The company, United Continental Holdings, is also adjusting its incentive compensation program for senior executives

  • Infra spending up 8.3% in Jan-Feb

    April 21, 2017 5:41 PM 4

    Spending on infrastructure rose 8.3 percent year-on-year to P69.6 billion during the first two months mainly as the government built more roads and flood control projects, the Department of Budget and Management said. End-February expenditures on infrastructure and other capital outlays increased from P64.3 billion a year ago, which the DBM attributed

  • Globe signs P8-b loan deal with BDO

    April 21, 2017 2:03 PM 4

    Globe Telecom Inc. said on Friday it borrowed money anew from a local bank to finance part of its capital expenditures this year. The company, controlled by conglomerate Ayala Corp., said it signed a 10-year, P8 billion term loan facility with BDO Unibank Inc. “The loan shall be used to finance the company’s capital expenditures and general corporate

  • Monetary Board closes Ragay bank

    April 21, 2017 1:47 PM 4

    THE Monetary Board, the policy-making body of Bangko Sentral ng Pilipinas, closed another financially-ailing rural bank based in Camarines Sur, the fourth bank shut down since the start of the year . State-run PDIC said in a statement Friday the Monetary Board prohibited Rural Bank of Ragay (Camarines Sur) from doing business in the Philippines. The board