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THE Department of Transportation and Communications (DOTC) said on Monday that it is studying the proposal of San Miguel Corp.’s Universal LRT Corp. (ULC) to build a second common station at SM North EDSA that would connect Metro Rail Transit Line 3 and the future MRT-7. DOTC Secretary Emilio Joseph…

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Profit margins at the country’s two dominant telecommunication players are expected to narrow next year as revenues from text messages continue to shrink, Fitch Ratings said in a forecast. The rating agency said profitability for Philippine Long Distance Telephone Co (PLDT) and Globe Telecom Inc. would slip as lower-margin data…

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AYALA Corp. (AC) is expecting to post 25 to 30 percent growth in net income for 2014 on the back of increased projects in power and infrastructure and the strong performance of its telecommunications business. “Last year, we have about P14 billion [core] net income. So this year, we want…

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Soon-to-be listed mobile content provider Xurpas Inc. is projected to rack up P379 million in net income for 2015 on the back of a fast-growing smartphone market. Martin Villalon, SB Capital Investment Corp. director, said in a briefing on Friday that that SB Equities Inc., a subsidiary of Security Banking…


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Lopez-owned First Gen Corp. has reported a 37.7 percent jump in net income from January to September on the back of higher earnings from natural gas and geothermal power plants. Net income for the nine-month period rose to $162.8 million from the year-earlier level of $118.2 million, the company said.…

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Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, has opened 15 new branches to widen its banking operations in the country and bring its total branch network to 239. In a statement on Monday, PSBank said it opened the new branches from June to early November…

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State-run National Food Authority (NFA) on Tuesday slammed the charges raised by an activist lawyer and a farmers’ cooperative on the alleged overprizing of rice imported from Vietnam, saying that the accusations are “patently false and baseless.” NFA Administrator Orlan Calayag said that accusations raised by Lawyer Argee Guevarra, which…

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A former patient of the state-run Philippine General Hospital (PGH) has left a P250,00 debt to PGH because of the suspended release of the Priority Development Assistance Fund (PDAF), a lawmaker said on Tuesday. Rep. Dan Fernandez of Laguna province made the disclosure on the same day that he announced…

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THE camp of detained businesswoman Janet Lim-Napoles on Tuesday challenged the Anti-Money Laundering Council (AMLC) to also freeze the bank accounts of all lawmakers linked to the alleged pork barrel scam. Lawyer Lorna Kapunan, Napoles’ legal counsel, said the congressmen and senators’ bank accounts should also be scrutinized by AMLC…

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THE Philippine National Police (PNP) has formed several tracker teams as it intensify its manhunt operations against Reynald Lim, brother of Janet Lim-Napoles, the businesswoman in the center of the multi-billion ‘pork barrel’ scam. Lim is Napoles co-accused in the serious illegal detention charges filed by Benhur Luy, Napoles’s former…

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GOVERNMENT agencies should go slow on the abolition of government owned and controlled corporations (GOCC) being implicated in the priority development assistance fund (PDAF) controversy because the move might also take away needed documents that could help in the ongoing investigation, a lawmaker said on Tuesday. Sen. Francis “Chiz” Escudero,…