Business

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Pilipinas Shell Petroleum Corp. is pushing through with its plan to build  an import regasification terminal for liquefied natural gas (LNG) in the Philippines, with the final investment decision for the project to come out in the next 12 months. The decision that the project is commercially feasible came one…

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The construction of Belle Grande Manila Bay Casino Resort, the $1.3-billion joint venture project of Melco Crown Philippines (MCP) and Belle Corp. in Parañaque City, is still on track to meet the companies’ target opening date in mid-2014. “We are still on target. Our opening date will be mid-2014, that…

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Ericsson said on Friday that it has completed its installation of around 250 Long Term Evolution (LTE) sites in Northern and Southern Luzon for Smart Communications Inc. “We can confirm that some of the sites we tested registered downlink speeds of up to 50 megabytes per second, in real time…

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LE BOURGET: An Airbus airliner flew from southern France to the Paris Air Show on Thursday (Friday in Manila) with one fuel tank partially filled with farnesane, a biofuel made from sugar cane as the industry experiments with green technology. The gambit was to show that the fast-growing air transport…

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SM Development Corp. (SMDC) recently topped off its 27-storey residential tower in Quezon City, which forms part of its four-tower residential development in the area. The Tower C, which is part of the SMDC’s four-tower M Place @ South Triangle (MPST) development, covers an area of almost a hectare between…

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PARIS: Rising temperatures, storms linked to climate change, and growing competition for water and land point to tough times ahead for the business sector, but also a chance for profitable innovation, the United Nations (UN) said on Friday. Citing the ravages of floods in Australia in 2010-2011 which cost insurer…

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The government wants to further increase its cut from the gross revenues of mining projects, the Department of Environment and Natural Resources (DENR) said on Friday. Environment Secretary Ramon Paje told reporters that the economic committee of the interagency Mining Industry Coordinating Council (MICC) has agreed to further increase government’s…

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A key official of the Department of Transportation and Communications (DOTC) said on Friday that “economic dictates” is the main factor behind the decision to raise the fares of the three rail systems in Metro Manila. “Well, there is never have a right time for fare hike right? But as…

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The prospective bidders for the P17.5-billion Mactan Cebu International Airport (MCIA) has requested the Department of Transportation and Communications (DOTC) for two more months to submit their proposals. “Bids and Awards Committee [BAC] will consider the proposal to push back the timetable,” said DOTC Undersecretary Jose Perpetuo Lotilla. Representatives of…

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An investment banking firm is expecting that the Philippine economy will maintain the robust growth it recorded at the start of the year. “The Philippine economy’s stellar performance of 7.8-percent expansion in GDP [gross domestic product] in the first quarter is a sign that we are on the right track.…