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  • PAL to mount direct Manila-New York flights starting October

    May 4, 2018 10:55 AM 13

    MANILA - The Philippine Airlines (PAL) will be flying directly from Manila to New York starting October this year, its spokesperson said Friday. The flag carrier will launch flights to the John F. Kennedy Airport in New York starting October 28, said PAL spokesperson Maria Cielo Villaluna. “We are no longer just a Manila-centric airline,” said PAL President

  • Singapore-Kuala Lumpur is world's busiest international air route

    May 4, 2018 8:37 AM 11

    SINGAPORE- The trip between Singapore and the Malaysian capital Kuala Lumpur is the world's busiest international air route, with more than 30,500 flights between the cities in the year to February, a new study showed. There were on average 84 flights daily making the short hop which takes about an hour, according to the study by air travel intelligence

  • Espenilla on rate hike: Inflation data needs 'hard look'

    May 4, 2018 8:02 AM 11

    MANILA - Monetary authorities will take a "hard look" at inflation data during their meeting next week, Bangko Sentral ng Pilipinas Governor Nestor Espenilla said Friday, after the rise in consumer prices quickened for the fourth straight month. Inflation accelerated to 4.5 percent in April, compared to the target of 2 to 4 percent for the full year. Analysts

  • PLDT elevates contractualization case to Court of Appeals

    May 4, 2018 7:31 AM 10

    MANILA - PLDT Inc said Friday it asked the Court of Appeals to review a labor department decision ordering the company to grant regular status to thousands of workers. The company said portions of the decision were "inconsistent" with the law, jurisprudence and evidence submitted to the labor secretary. A petition for certiorari was filed with the appelate

  • Inflation picks up to 4.5 percent in April

    May 4, 2018 1:15 AM 67

    MANILA - Consumer prices rose 4.5 percent in April, Socioeconomic Planning Secretary Ernesto Pernia said Friday, as inflation breached the government's target for the second straight month. Pernia made the announcement on the sidelines of an Asian Development Bank meeting, ahead of the release of official data. Bangko Sentral ng Pilipinas Governor Nestor

  • Bangladesh open to out-of-court settlement over $81M cyber heist

    May 3, 2018 7:17 PM 10

    MANILA/DHAKA - Bangladesh would consider an out-of-court settlement with a bank in the Philippines over $81 million stolen from its accounts in New York by hackers who wired the money to Manila, Bangladesh central bank officials said on Thursday. In one of the world's biggest cyber heists, the hackers stole the Bangladesh Bank money held at the New York Fed in February

  • Metro Pacific’s income climbed 27% to P3.8b in first quarter

    May 3, 2018 11:40 AM 11

    Infrastructure conglomerate Metro Pacific Investments Corp. said Thursday consolidated net income climbed 27 percent in the first quarter to P3.8 billion from P3 billion in the same period last year, on strong volume growth across units and higher ownership in power business. Metro Pacific said that in terms of contribution in net operating income, power

  • SM Prime set to open second Pangasinan mall

    May 3, 2018 11:35 AM 9

    SM Prime Holdings Inc., the country’s leading shopping mall and residential developer, said it will open its second mall in Pangasinan province Friday. SM Prime said in a disclosure to the stock exchange SM City Urdaneta Central, the group’s 69th mall in the Philippines, would open with 42,000 square meters of gross floor area. “We are excited to be a part of Pangasinan’s

  • Economy ‘on right track’ –– solon

    May 3, 2018 11:13 AM 10

    The credit rating upgrade of the Philippines based on the latest Standard & Poor Global Ratings is an affirmation of "correct economic and fiscal policies" under the Duterte administration, a legislator said on Wednesday. In a statement, House appropriations committee chairman Karlo Nograles said the improved credit rating shows that President Rodrigo

  • Manufacturing on the rise

    May 3, 2018 11:12 AM 10

    The country’s manufacturing purchasing managers index, which measures the crucial sector's performance, further rose at the start of the current year's second quarter, IHS Markit reported Wednesday. IHS Markit data showed that manufacturing PMI in April grew to 52.7 from 51.5 in March, reflecting the “robust improvement in the health of the sector