The Department of Transportation (DOTr) successfully activated an additional crew change hub at the Port of Cagayan De Oro on Tuesday, May 31, 2022, bringing a total of 12 hubs in the country, Secretary Art Tugade announced. The hubs include the Port of Manila, Currimao, Poro Point (La Union),...
The Securities and Exchange Commission (SEC) has approved the planned initial public offerings (IPO) of VistaREIT, Inc. of up to P9.18 billion and of Raslag Corporation worth up to P700 million. The Commission En Banc has resolved to render effective the registration statements of VistaREIT and...
A definitive regulation is being sought from the Securities and Exchange Commission (SEC) for the proposed "forward market’" to be instituted in the country’s Wholesale Electricity Spot Market (WESM). The Independent Electricity Market Operator of the Philippines (IEMOP), which is the operating...
Albay 2nd district Rep. Joey Salceda believes that a bigger crackdown on online lending and investment scams is coming sooner than later, thanks to President Duterte's expected signing of the Financial Consumer Protection (FCP) Act. (Maxim Ilyahov/ Unsplash) “I am told by sources in the Palace...
The Securities and Exchange Commission (SEC) now has the power to speed up the resolution of numerous pending cases pertaining to companies with foreign ownership after the amendment of three laws. These amended laws are the Foreign Investments Act (FIA), the Public Service Act (PSA), and the...
The Securities and Exchange Commission (SEC) has ordered three online firms to stop their unauthorized lending activities and their use of abusive collection practices. In an order issued April 26, the Commission En Banc directed Golden Cash, Help Cash, and Grace Cash to immediately cease and...
The pandemic has set back the opening of the P488-billion Metro Manila Subway by three years, to 2025, the Department of Transportation (DOTr) has confirmed. Originally, target start date for partial operations for the subway's first three stations from Valenzuela – Mindanao Avenue Station,...
The Securities and Exchange Commission has convinced technology giant Google to adopt a more stringent approval process for online lending apps in the Philippines as part of the agency’s efforts to tackle illegal and abusive lending practices. In a statement, the SEC said that, effective May 11,...
The Securities and Exchange Commission (SEC) has revoked the corporate registrations of ScentkoWorld Corporation and Brendahl Cruz Holdings, Inc. for illegally soliciting investments from the public through a “buy and earn” program. The SEC Enforcement and Investor Protection Department (EIPD)...
Securities and Exchange Commission (SEC) Associate Commissioner Commissioner Javey Paul D. Francisco has been reappointed and is expected to continue to steer the agency’s initiatives toward improving the ease of doing business in the country. First appointed as SEC commissioner in 2018,...
Philex Mining Corporation is postponing its planned P3.15 billion stock public offering “given the current market volatility to help ensure its success.” In a disclosure to the Philippine Stock Exchange, the firm said it had agreed with issue manager and lead underwriter for the offer BDO...
DOTR Secretary Arthur Tugade during the meeting with DOTr road sectorcteam for the Cebu BRT. The Department of Transportation (DOTr) is fast-tracking the P16.3-billion Cebu Bus Rapid Transit (Cebu BRT) project, which was originally scheduled to operate a crucial segment last year. Transportation...
