Industry giant PLDT Inc. is investing $80 million (P3.9 billion) in a new Asia Pacific subsea cable project aimed at boosting internet capacity and speeds. PLDT announced on Monday it joined technology giants such as Facebook and Google in the 12,000-kilometer submarine cable system called Apricot. Set to be fully operational in 2024, Apricot will…
Philippine construction giants and an array of global contractors and engineering companies submitted bids to build a portion of the P345-billion Philippine National Railways’ Calamba project. In a statement on Thursday, the Department of Transportation (DOTr) called it a “record-breaking” turnout as the firms vied for six contract packages for the construction of 40.5 kilometers…
The exodus Philippine Offshore Gaming Operator (Pogo) companies that characterized the woes of the Metro Manila office sector in 2020 has ended and demand for new space is returning, property veteran David Leechiu said on Tuesday. This reversal was partly due to new legislation addressing tax compliance by Pogos, whose operations mainly target gamblers in…
The privately held technology company behind the PayMaya mobile wallet successfully raised , or over P8 billion, to fund its expansion and an upcoming digital bank. Voyager Innovations said on Monday the money came from existing investors PLDT Inc., China’s Tencent, global investment firm KKR and the International Finance Corp., through IFC Financial Institutions Growth…
Globe Telecom users traveling to North America can access 5G roaming services in the coming week as the telco giant gears up for the gradual recovery of the travel sector during the pandemic. In a statement on Thursday, Globe said 5G roaming in Canada would be launched on to be followed by the United States…
Globe Telecom rolled out free wifi in government buildings and select medical facilities in Antipolo, a statement on Friday showed. The telco giant further provides the local government with Automated Mobile Blaster (Amber) services to quickly disseminate information to residents as COVID-19 vaccination efforts are ramped up. The measures were announced as Globe extended its…
GMA Network Inc. chair and CEO Felipe Gozon on Wednesday revived a ratings war with rival ABS-CBN Corp. amid a wave of interest from investors after GMA became the country’s dominant television broadcaster by default. During the firm’s annual shareholders meeting, Gozon touted GMA’s superior TV ratings after ABS-CBN’s broadcast business was shuttered by the…
Food giant Monde Nissin Corp. has bagged global funds as long-term investors in its anticipated P55.9-billion public debut this month. In a statement on Wednesday, Monde Nissin claimed it had secured commitments from 11 cornerstone investors. These were AIA Investment Management Private Ltd., Stichting Depositary APG Emerging Markets Equity Pool, Avanda Investment Management Pte. Ltd.,…
Metro Pacific Tollways Corp. is setting aside about P12 billion this year for capital spending for three expressway projects in southern Metro Manila and neighbouring provinces. Under subsidiary MPT South Corp., the tollroad giant said the largest share or P6.49 billion would go toward the 45-kilometer Cavite Laguna Expressway (Calax) while P5.34 billion would be…
Technology giant Microsoft Corp. said over benefited from its digital skills training program during the COVID-19 pandemic. Launched last year, the initiative reached over people from and involved online courses from GitHub, LinkedIn and Microsoft in the areas of customer service, project management and data analysis. “Skills will be the new currency in the postpandemic…