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  • Higher power rates in August

    March 2, 2014 4:10 PM 47

    MANILA, Philippines - Power rates will go up by at least 3.8 centavos per kilowatt-hour starting August, this time owing to an increase in the rates of the National Power Corp. Napocor originally planned to implement the higher universal charge for missionary electrification (UCME) last February but opted to defer this for six months or until July as the Supreme

  • Philippines Customs trumpets surge in revenues, but fails to hit target in 2013

    March 2, 2014 2:39 PM 41

    MANILA (Mindanao Examiner / Mar. 2, 2014) - The Philippines Bureau of the Customs has announced a 5% hike in its 2013 collections with a total of P304.5 billion in revenues compared to the previous year, but still failed hit its P340 billion target. It attributed the surged in collections to improvements in operational efficiency and reforms towards

  • PH stock market seen retreating this week on profit taking

    March 2, 2014 2:33 PM 30

    By: Darwin G. Amojelar, March 2, 2014 7:40 PM MANILA – Philippine share prices may pull back this week as investors book profits after a strong rally last week. "For the past days, the momentum has been fueled by the local corporate earnings and gradual lifts from foreign developments. Given its sudden surge in the 6,400 level, we expect

  • Metrobank eyes 16 pct loan growth this year

    March 2, 2014 1:25 PM 37

    By: Maricel E. Burgonio, March 1, 2014 11:56 PM MANILA - Metropolitan Bank and Trust Co (Metrobank) expects to maintain its loan growth in the mid-teens this year, mostly driven by the corporate sector. Metrobank investor relations department head Juan Placido T. Mapa III last week said loan growth could replicate last year’s 16 percent

  • JG Summit cuts capex, eyes profit boost from Meralco

    March 2, 2014 12:28 PM 42

    By: Krista Angela M. Montealegre, March 2, 2014 8:25 PM MANILA - JG Summit Holdings Inc is cutting its capital spending program this year as the Gokongwei-led conglomerate expects earnings to be buoyed by its investment in Meralco. JG Summit senior vice president Bach Johann Sebastian last week told reporters that the company is earmarking

  • ‘Mining’ our own business

    March 2, 2014 12:17 PM 101

    The launch of TV5’s new documentary series titled “Yaman ng Bayan” highlights the fact that God has blessed this nation with abundant wealth — from the beautiful and talented Filipinos down to natural resources as seen from impressive beaches, majestic mountains, fantastic flora and fauna and mineral resources. But more than showcasing the beauty of our assets

  • Noy: Power lack to persist

    March 2, 2014 6:18 AM 45

    MANILA, Philippines - The power shortage will persist, especially in Mindanao, as new power plants are expected to become operational only by 2015, President Aquino said yesterday. The President’s admission came on the heels of a massive power outage in Mindanao that disrupted business and civil service. Aquino likened the current grid in Mindanao to a narrow

  • Ayala Land opens mall in QC residential area

    March 2, 2014 5:19 AM 58

    By: William Alzona, March 1, 2014 11:04 PM MANILA – Ayala Land Inc (ALI) last Friday opened its newest shopping center in a big residential area in Quezon City that already hosts malls of two other big players in the property business. In a press conference, ALI president Antonino Aquino said the 5.8-hectare Fairview Terraces offers nearly

  • BSP cites educators for integrating savings program in school subjects

    March 2, 2014 12:58 AM 34

    MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has cited teachers across the country for integrating savings program into school subjects to educate children about money management. The Guro ng Pag-asa, a joint program by the central bank and the Department of Education, encourages educators to fuse savings, money management, and entrepreneurship

  • Domestic cargo volume expands 12.4% in 2013

    March 1, 2014 4:09 PM 23

    MANILA, Philippines - The volume of cargo carried by local airlines in the domestic market posted a double-digit growth of 12.4 percent amid the extensive and expanding route network as well as multiple daily flight schedules. Data released by the Civil Aeronautics Board (CAB) showed domestic cargo traffic reached 229.98 million kilograms last year or 25.34 million