METROBANK’S power generating arm, Global Business Power Corp., switched on yesterday the extension of the 60-megawatt coal plant of its subsidiary Toledo Power Corp. in Toledo City.
GBP Chairman Francisco Sebastian said the P10.2-billion new plant, TPC1-A, will supply the power requirements of Carmen Copper Corp.’s mining expansion projects starting on Dec. 26 this year.
A REAL estate group is calling for the immediate enactment of housing-related bills for the sustainable growth of the local property sector.
The Chamber of Real Estate and Builders’ Associations, Inc. (Creba), through its advocacy council, has been pushing for the creation of a housing department and other market reforms.
INSURANCE company Manulife Philippines considers the Visayas their fastest-growing region in the country, proven by the quick expansion of its branches.
Manulife formally inaugurated yesterday their Stellar Region’s office on the 14th floor of the Keppel Building in Cebu Business Park, and the company’s president and CEO and senior vice president were present to show their support.
CHINA - based tire manufacturer Aeolus Tyres Co. Ltd. expects growth in the Philippine market, considering strong automotive sales.
WE KNOW this by now, and we acknowledge this fact: overseas Filipino workers (OFWs) are indeed the new heroes of the country.
RESPONDENTS Danilo T. Canonero, Antonio N. Esquivel and Cezar I. Belza filed a complaint against DNB Electronics & Communication Services (DNB), the business name of petitioner Diones N. Belza, for constructive illegal dismissal and non-payment of separation pay. The labor arbiter (LA) found for respondents and held DNB liable for illegal dismissal and consequently the payment of backwages and separation pay.
NOTHING is stopping Philippine technology startups from making it big worldwide. That was the key insight shared by visiting investors, venture capitalists, and startup founders during the recently wrapped-up “Geeks on a Plane” tour, which made its last stop in Manila last week after three days of surveying the local startup scene.
IF there is a province in the country that can show it can be competitive with Southeast Asia, Cebu is it, the president of the People Management Association of the Philippines (PMAP) said.
Josephus Jimenez, who welcomed over a thousand delegates to the opening of the 51st annual PMAP Conference at the Waterfront Hotel and Casino Cebu City Wednesday, said that long before the Spanish established Cebu as a province, it was already trading with the likes of China, India, Borneo and Taiwan.
A COMPANY will shell out P550 million for the construction of the pavilion that will host delegates of the International Eucharistic Congress this coming 2016.
Duros Land Properties Inc. (DLPI) will build the 10,000 square meter pavilion to accommodate 15,000 people inside the compound of the Archdiocesan seminaries on Pope John Paul II Ave. in Mabolo, Cebu City.
A NEW pastry destination opened in Cebu recently. Treat Street Café said it will serve customers only “finest quality” of cakes, pastries and coffee.
The 15-square meter dessert kiosk at the 2nd floor of Ayala Center Cebu’s Expansion Wing is owned by cake designer Trina Ang Kokseng, also the woman behind “Cake Couture by Trina.”
INTEL announced that they would ship a new PC processor that will have eight cores.
Actually I saw this announcement buried deep in stories. There used to be a time when every announcement of a new processor that was faster was greeted with applause. But right now, it is more of a yawn. After all, we are most likely using a very small percentage of our CPU and more often than not, the complaints you will hear is more about the Internet speed or disk transfer speed. Intel released their eight cores over a year after AMD and they did not even see that affecting their sales.
Clint Fabiosa & Ana Liza Villamor
ONE of the big tourism players in Cebu, the JPark Island Resort Cebu, formerly known as Imperial Palace, will be bringing its water park facilities to Luzon in 2015.
JPark Island Resort president Justin S. Uy said the P1.2 billion project will sit in an eight-hectare property in Sta. Rosa, Laguna and will retain the name JPark Island Resort.
SINGAPORE-based property developer Syntech Properties, Inc. announced the development of a 37-hectare retirement village in Balamban, Cebu.
Syntech Properties, led by director Janice Ngiam-Chong, paid a courtesy call to Balamban Mayor Ace Binghay to discuss the project, which is now in the documentary and ground work stages.
THOUGH he is more known for winning the Pinoy Big Brother challenge in 2011, Jan Slater Young has been busy doing other things.
Aside from working in their family business, Young and his small team of three have been developing a chat app that he hopes will take off globally.
A NEW township will rise in the southern part of Mactan Island.
Johndorf Ventures Corp. (JVC) has consolidated its properties in Barangays Babag and Calawisan in Lapu-Lapu City into a masterplan for a consolidated township.
THE Philippine Institute of Interior Design will be joining for the first time a real estate firm in Cebu.
“The Cebuano market is a good niche for design and every Filipino deserves a really good space. That is why we create trendy and functional space for all – from low end to high end,” said Hermie Ray Oplado, president of the Philippine Institute of Interior Design (PIID)-Cebu Chapter.
AS IT aims to become the shipbuilding capital of the Philippines and mother shipyard in Southeast Asia, Balamban-based Tsuneishi Heavy Industries (Cebu) Inc. (THICI) unveiled yesterday four new ship models it described as “economical and environment-friendly” vessels.
The company also disclosed that they aim to reduce carbon dioxide (CO2) emissions by 40 percent by 2020. Its current CO2 emission rate stood at 23 percent.
THE Philippine peso today is overvalued and this is causing the country to lose its competitiveness in the world market, according to an economics expert.
The peso is currently “overvalued by 20 percent to 30 percent,” a situation that is counterproductive to government efforts to achieve sustained economic growth, alleviate poverty, and generate employment, said Dr. Victor Abola, program director of the Strategic Business Economics Program of the University of Asia & the Pacific.
FOR eight years, underemployment in the Philippines increased by an average of .10 percent annually, leaving one in every five employed persons underemployed, a recent study released by the Bureau of Labor and Employment Statistics found.
The survey, which sought to find trends and the profile of the country’s underemployed from 2006 to 2013, found that underemployment was at its peak in 2012 and that the substantially underemployed ranged from 6.6 million to 7.5 million.
TO INCREASE trade between the Philippines and Israel, the Israel Chamber of Commerce will be holding a special seminar for Filipino exporters in April. The invitation is open to all Filipino exporters and will happen in Israel, an official said.
Embassy of Israel Head of Economic and Trade Relations to the Philippines Doron Hemo said the seminar is in line with the three-day Agritech event on April 28, 2015 in Israel.
WHAT was popularly called the “Kamuning House” of the Genson family on Gov. M. Roa St., Capitol Site is now a 43-room business hotel.
Called Pillows Hotel, the eight-storey building is owned and operated by Genus Tandem Development Ventures Inc. of the Gandionco and Genson families. The Gandioco family is behind Mang Tinapay, Doki Realty and 7Eleven -Tabunok branch.
A LUXURY bungalow developer in Singapore will be developing a 32-storey condominium project in Cebu City that will be completed in three years.
Wei Kiat Construction Pte Ltd established its Philippine counterpart Wei Kiat Management and Development Corp in December 2012 with its flagship project, La Nivea at Nivel Hills.
Pursuant to Section 244 of the Tax Code and in relation to Section 27 of Republic Act No. 8792, otherwise known as the “Electronic Commerce Act”, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 6-2014 on September 8, 2014, which prescribes the mandatory use of electronic BIR Forms (eBIRForms) in filing all tax returns by non-Electronic Filing and Payment System (eFPS) filers.
This regulation covers non-EFPS filers as follows:
“WHEN you stop talking, you stop solving!”
One of the objectives of family businesses is to keep the enterprise alive throughout the succeeding generations. Right from the founding stage, to the sibling partnership and cousin consortium, the family members from each of the generations would have to remain united for the purpose of both maintaining healthy family ties, and pushing for the survival and expansion of the family business through tough times.
RISING commodity prices, political issues and higher household expenses led consumer sentiment for the third quarter to weaken, according to the Bangko Sentral ng Pilipinas Consumer Expectations Survey.
ISUZU Cebu Inc, the dealership company of Isuzu Philippines Corp. in Regions 6 and 7, registered a 41 percent growth in sales this year. From roughly 1,300 vehicles sold in 2013, it has sold 1,972 vehicles as of early September 2014. The report came from ICI general manager Steve M. Gingco last Friday. ICI has long been named as the best provincial dealer of IPC, officials said. Also this year, ICI is the national best sales champion.
TOP tourist destinations like Cebu are advised to gear up for the projected boom in travel by Muslim tourists, on the back of growing affluence of the Muslim middle class.
THE first time I used a phone I wasn’t able to dial the number. I was in grade school and with a friend who was asked by his mother to call his dad at his office. We went to the emergency room at a nearby hospital, the only phone we could use at that time.
MORE than just growing their loans portfolio, a commercial bank believes that by making their products available in a mall setting, they will be reaching more clients.
The Bank of the Philippine Islands (BPI) opened the BPI Auto, Housing and Lifestyle Madness event yesterday in the Ayala Center Cebu. It will run throughout the whole weekend.