REICELENE JOY IGNACIO

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The Department of Transportation said it wants to terminate the P3.8 billion contract of Busan Universal Rail Inc. (BURI) as maintenance provider of the Metro Rail Transit-3. “The position of the Department of Transportation is it is a must to terminate the contract,” Transport Undersecretary for rails and toll roads…

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The development, operations and maintenance of five regional airports via public-private partnership (PPP) has been terminated by the government, and will be funded instead under General Appropriations Act (GAA) or with official development assistance (ODA). “We received confirmation that the procurement of the much-anticipated regional airport PPP Projects (New Bohol,…

IN METRO MANILA AND CEBU CITY

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Only one out of five high school graduates in Metro Manila and Cebu City lands a job within a year of leaving school, a study by the Asian Development Bank said. Despite the Philippines’ average annual growth of 6.3 percent between 2010 and 2016, indicating an improvement in the employment…

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The government’s Community Mortgage Program may have neglected poor families, according to a study released by state-owned think-tank Philippine Institute for Developmental Studies (PIDS). The CMP fund is the mortgage financing program of the Social Housing Financing Corp. that assists legal associations of underprivileged and homeless citizens, called community associations…

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BMI Research maintains a constructive view of medium-term economic outlook for the Philippines even if the gross domestic product (GDP) grew at a slower pace of 6.4 percent in the first quarter of 2017 from 6.6 percent a year earlier. “Despite the growth moderation, we maintain a constructive view of…

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Lawmakers have warned two major airline companies in the Philippines that their franchises will be reviewed in Congress if they do not address complaints of costly fare and delayed flights. “The reason you can operate is that our bosses, the Filipino people, allow you to do so. Do not take…

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The Land Transportation Office (LTO) is set to meet tint manufacturers this week to determine the allowable grade of tints for cars. “Assistant Secretary [LTO chief Ed] Galvante will talk to tint manufacturers this week to determine which grade of tint is allowable,” Land Transportation Franchising and Regulatory Board spokesman…

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THE Philippines is not in danger of falling into a debt trap, according to the Department of Budget and Management, in light of fears raised by economists after President Rodrigo Duterte was able to secure $18 billion in loans from China and Japan. The money will be used by the…

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CHELSEA Logistics Corp. (CLC) signed a $220-million bridge loan agreement with the Bank of China Ltd. on Thursday as it positions itself to become a major player in the country’s logistics industry. CLC founder and Chairman Dennis Uy said CLC will earmark proceeds from the bridge loan for its acquisition…

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LISTED Harbor Star Shipping Services, Inc. said it has entered into a three-year lighterage service contract with Palau Sea & Air Transport Agency to provide exclusive logistics in transporting construction equipment and materials from the Philippines to Palau, Micronesia and the Marshall Islands. The equipment and materials will be used…

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