Higher gold prices globally, coupled with the central bank’s investment income, helped the Philippines’ gross international reserves (GIR)—its stock of United States (US) dollars and other foreign currencies—recover last month from its modest decline in July. Preliminary data from the...
While Andrew Tan’s Travellers International Hotel Group Inc. (TIHGI) is taking majority control over the development of the $1.25-billion Westside Integrated Resort, its foreign-controlled partner Suntrust Resort Holdings Inc. is still infusing ₱3.2 billion into the project in line with its...
In line with its transformation into an infrastructure conglomerate, Asiabest Group International Inc. is offering shares worth up to ₱24.66 billion and acquiring the infrastructure and real estate companies of its chairman, Francis Lloyd Chua, for ₱15 billion. In a disclosure to the Philippine...
Aboitiz Construction has completed the design and construction of the new berth of DICT Bulk Terminal, Inc. (DBTI), a joint venture between the Floirendos’ Davao International Container Terminal, Inc. (DICT) and Philcement Corp. of Phinma Corp. Located in Panabo City, Davao del Norte, the...
Andrew Tan’s Travellers International Hotel Group Inc. is taking majority control over the development of the Westside Integrated Resort, as its foreign-controlled partner Suntrust Resort Holdings Inc. has agreed to reduce its stake in the project to 20 percent due to financial challenges. In a...
The Bases Conversion and Development Authority (BCDA) said it has yet to receive an updated offer from Metro Pacific Tollways Corp. (MPTC) for its proposed acquisition of the government’s 50-percent stake in Subic-Clark-Tarlac Expressway (SCTEX). BCDA President and Chief Executive Officer (CEO)...
CEBU CITY – The primary runway of the Mactan-Cebu International Airport (MCIA) was reopened after it was closed on Tuesday, Aug. 26. The Mactan-Cebu International Airport Authority (MCIAA) confirmed that the primary runway was opened at 11:30 a.m. on Wednesday, Aug. 27. The primary runway was...
DAVAO CITY – Acting Davao City Mayor Sebastian Duterte said he prefers Singapore’s Changi Airport to take over the Davao International Airport operations through a public-private partnership. In a recent interview with Alvin & Tourism at The Hague, Netherlands, after he visited his father,...
CEBU CITY – Flight schedules at the Mactan-Cebu International Airport (MCIA) were affected due to runway condition checks. In an 6:20 p.m. advisory on Tuesday, Aug. 26, the Mactan-Cebu International Airport Authority (MCIAA) said “teams are conducting inspections and necessary repairs as...
The Philippine Red Cross (PRC) welcomed International Committee of the Red Cross (ICRC) President Mirjana Spoljaric Egger at its national headquarters in Manila, reaffirming the strong humanitarian partnership between the two organizations. Spoljaric, the first woman to lead the ICRC, was received...
New NAIA Infra Corp. (NNIC), the private operator of the Ninoy Aquino International Airport (NAIA), said the scheduled hike in passenger service charges (PSC) next month is not an arbitrary move but rather in pursuit of a government mandate. “The PSC adjustment is a government-mandated,...
The nation will commemorate the 42nd anniversary of the martyrdom of Senator Benigno “Ninoy” Aquino Jr. this year with a solemn wreath-laying ceremony at Ninoy Aquino International Airport (NAIA) Terminal 1 in Parañaque City. In a statement issued Tuesday, August 19, the National Historical...
