BULLISH on the Cebu real estate market, Taft Property hopes to strengthen its presence in Cebu while also looking to expand in areas in the Visayas and Mindanao.
GLOBE Telecom’s telecommunication infrastructure in Leyte Province will be completely restored next month, a company official said.
“We are not yet at 100 percent (restored) but the target completion is towards the beginning of April,” said vice president for prepaid business Maria Louisa G. Cabreira.
FIVE star hotel resort Shangri-La’s Mactan Resort and Spa has added more recreational activities to attract more guests and expand its health and wellness offering.
The resort recently launched its Jogging Trail and Zipline Park at the Ocean Terraces.
HIGH-END fashion specialty retailer Stores Specialists Inc. (SSI) announced they are bringing in at least 12 new international brands in the country this year on the back of the strong retail infrastructure and thriving tourism and travel industries.
“The space at the moment is limited but there new malls being developed, which is a good sign that the market is ready to take more stores and international brands,” said Anthony T. Huang, SSI executive vice-president.
DUE to inadvertence, input taxes on purchase of services on credit incurred by a valued-added tax (VAT) registered taxpayer were not declared in its quarterly VAT return, resulting in payment of higher output tax than it otherwise should not have paid. Considering that the taxpayer already received a letter of assessment, it could no longer amend its VAT return for the subject quarter to include the undeclared input taxes.
FOR business to grow big, it must be able to serve the small. Napoleon Nazareno, president and chief executive officer of PLDT and its subsidiary Smart Communications, has proven this twice in his career and hopes to do the same in addressing the digital divide in the country.
FROM pawnshops and money transfer to food, Michel Lhuillier has now ventured into the hardware business, opening a hardware store in Cebu last Thursday. Bargain by M.Lhuillier is a 400-square meter store located on 38 Gorordo Ave., Cebu City. It is a partnership between Lhuillier, DSK Asia president and chief executive officer Alain Descombels and Alliance Francaise de Cebu director Louis Thevenin.
The hardware store sells a mix of kitchen wares, house tools, home decors and personal accessories, among many other items.
MOBILE isn’t the future; it’s the present. That’s the gist of recently-released Internet usage reports.
Last month, more Americans used smartphones and tablets than desktops or laptops to access the Internet, according to a study by analytics company comScore.
THE Department of Trade and Industry (DTI) 7 assured the public that the supply and prices of basic consumer goods in the region remain stable despite the daytime truck ban recently implemented in Manila.
But the agency expects that the truck ban will affect the flow of deliveries to Cebu.
BUSINESS confidence declined in the first quarter of 2014, but stayed in positive territory, the latest Business Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) found.
MANILA—The Philippines posted a lower budget gap of P164.1 billion in 2013 from P242.8 billion the year before, after revenues posted a big jump compared to expenditures.
Data released by the Department of Finance (DOF) Friday showed that the deficit last year was lower by P73.9 billion than the P238 billion ceiling or 31 percent lower year-on-year.
AS IT expands its portfolio, AboitizLand Inc. is pioneering the development of solar-powered homes, with one of its residential projects in Cebu implementing the system for the first time.
AboitizLand assistant vice president for sales Audie G. Villa said during the launch yesterday that it has partnered with Enfinity to install solar panels in its Almiya community in Canduman, Mandaue City. He described the company as the world’s leading solar panel developer.
ON A high projection, the Philippines could have two million foreign “ecotourists” and over 12 million domestic ecotourists by 2016, according to the National Ecotourism Strategy and Action Plan.
DAIKIN Airconditioning Philippines, Inc. reported strong sales of its models for large buildings, with the country’s robust business process outsourcing (BPO) sector. The company sees Cebu as one of its “continuously growing” markets.
Hans Carlo Letigio, Daikin Philippine’s manager for Visayas and Mindanao, said Daikin’s Variable Refrigerant Volume (VRV) III, which are used for large buildings, hit sales of P100 million in Visayas and Mindanao in 2013. The figure is a tenfold increase from its P10 million sales in 2011. In 2012, the company recorded P21 million in revenues for VisMin.
IT’S March and that means a lot of people are graduating and will soon be looking for a job. This year’s batch is lucky – the economy has been growing well and there are a lot of advertisements by many companies looking for applicants. I interview numerous people on a weekly basis and, in the last few years, have probably scanned and interviewed hundreds if not thousands of applicants.
What are the things you should do as an applicant?
SEEING the “growing affluence” of Cebu and the surrounding areas in the Visayas and Mindanao, Sun Life’s investment arm is increasing its efforts to promote its fund products to potential investors in the area.
Valerie Pama, Sun Life Asset Management Co., Inc. president, said their sales from the Visayas and Mindanao were the fastest growing in the company, with gross sales in the region up 121 percent in 2013 from the previous year.
PUBLICLY-listed Security Bank underwent re-branding and will now focus on retail banking or consumer financing, top officials said yesterday.
“Security Bank. You Deserve Better,” is the bank’s new brand promise. It said it exemplifies the bank’s intent to expand the primary target market exponentially to include various customer-centric programs and initiatives to address the growing retail banking segment.
LOCAL real estate developer Primary Homes Inc. is adding 129 condominium units to Cebu’s lineup of residential projects with the launching of The Courtyards in Banawa.
The P300-million condominium project will introduce “Cebu’s first walk-up condominium,” a seven-cluster low density condominium project with each building having only three to four storeys.
APART from creating more high-paying jobs to achieve inclusive growth, economists also hope that micro, small and medium enterprises get the right kind of support to be able to grow and, in turn, provide more jobs.
MANILA-based independent eyewear and lifestyle brand Sunnies by Charlie reported “skyrocketing sales” in all of its outlets since its introduction to the market in October 2013.
As of its official launch of the eyewear in SM City Cebu last Saturday, the company generated sales of P130,000, an indication the local brand earned the interest of the Cebu market, said Eric Dee Jr., finance director.
CEMENT manufacturer Cemex Philippines remains optimistic that growth in the cement industry will continue to grow stronger this year on the back of the robust construction industry and high government spending.
“We expect the growth to continue this year,” said Paul Arcenas, Cemex Philippines vice president for strategic planning at the sidelines of yesterday’s Build Unity launching rebuilding program of Cemex Philippines Foundation for the communities in northern Cebu.
MORE than four months after the 7.2-magnitude earthquake hit Bohol in October last year, the area has suffered a significant decrease in tourist arrivals.
Carmen Bohol Mayor Jun Turibio told Sun.Star Cebu recently that the number of tourists visiting the world-famous Chocolate Hills located in their town has decreased by “almost 50 percent.”
TIGERAIR Philippines is offering a P10 Graduation Sale from March 10 to 12 for all domestic flights.
“Take advantage of this spectacular promo in time for graduation. We believe there is no better gift than a gift of travel for those deserving students. With this special, super low rate, surely they will find the best destination in the Philippines where they can enjoy, relax and be able to plan for their next career move,” said Tigerair Philippines VP for Commercial Joey Laurente.
I WAS interviewed yesterday by a television news program about the BIR’s ad campaign reminding professionals that their non-payment of proper taxes poses a burden to employed individuals getting compulsory tax deductions that are remitted to government coffers.
There was protest from the targeted professionals on these ads such as doctors, who denounced their being tagged as tax evaders. Bureau of Internal Revenue (BIR) Commissioner Kim Henares, however, pointed out in interviews that there are indeed doctors who don’t issue official receipts, among other violations.
TOP officials of a Manila-based securities brokerage firm urged young professionals in Cebu to invest in the stock market instead of putting their money in the bank.
BEING a business process management company, recruitment is one of the things Convergys takes seriously. And rather than let applicants do all the hard work, they hope things can be easier if they can submit their applications using their smartphones.
AN enterprise registered with the Philippine Economic Zone Authority (Peza) under the five percent preferential tax rate is entitled to exemption from national and local taxes, including value-added tax (VAT). Being exempt from VAT, a Peza-registered enterprise may not register as a VAT taxpayer.
DESPITE the widespread destruction wrought by two big calamities on the Philippines, Socio-economic Planning Secretary Arsenio Balisacan said the Philippines will still be meeting its targets and remain one of the best performing economies in the region.
DEVELOPER AboitizLand Inc. has purchased Lima Land, Inc. the industrial park operator of the 450-hectare Lima Technology Center in Malvar, Batangas.
AboitizLand president and chief executive officer Andoni Aboitiz said the company will be pouring in P3 billion for the development of the industrial park.
THE Cebu Chamber of Commerce and Industry (CCCI) on Friday said it will help create business chambers in provincial areas to increase its network and facilitate entrepreneurial development, particularly in areas affected by the calamities.