Infrastructure spending dropped for the fifth straight month in November amid the pandemic. — PHILIPPINE STAR/MICHAEL VARCAS By Beatrice M. Laforga, Reporter STATE SPENDING on infrastructure dropped for the fifth straight month in November as lockdown restrictions continued to hamper construction work. At the same time, a think tank said the government should ramp up spending this year to drive ...

By Charmaine A. Tadalan, Reporter THE BICAMERAL Conference Committee on Tuesday approved the bill strengthening the anti-money laundering law, although a key amendment pushed by Malacañang was not included in the final version. The panel on Tuesday reconciled House Bill No. 7904 and Senate Bill (SB) No. 1945 which amends Republic Act No. 9160 or the Anti-Money Laundering Act (AMLA) ...

The Health department on Tuesday reported 1,357 new coronavirus disease 2019 infections, bringing the total to 504,084. — PHILIPPINE STAR/MICHAEL VARCAS THE HOUSE Committee on Labor and Employment approved in principle the bill that will grant paid leave to workers who contracted the coronavirus disease 2019 (COVID-19) and those placed on floating status during the pandemic. The draft committee report ...

PLDT, Inc. said its fixed broadband download speeds have improved by 78% in 2020 after expansions and upgrades amid a pandemic crisis. Its wireless arm, Smart Communications, Inc., also saw its mobile download speeds improve by 71%. “As of  2020, PLDT’s average fixed broadband download speeds were at 32.20 Mbps (megabits per second), whereas Smart’s average mobile download speeds were ...

LISTED port operator International Container Terminal Services, Inc. (ICTSI) on Tuesday said it had completed a berth expansion project at the Manila International Container Terminal (MICT), raising the terminal’s annual capacity by 10% to 3.3 million TEUs (twenty-foot equivalent units). ICTSI added another 150 meters to MICT Berth 7, “creating a 600-meter contiguous berth together with the adjacent Berth 6 ...

CEMEX Holdings Philippines, Inc. has positioned its large heating device as it builds the cement production line that would add 1.5 million metric tons of cement to the firm’s annual capacity. The company in a statement on Tuesday said it invested $235 million or P11.3 billion into the new cement line, which would increase output to 3.4 million metric tons ...

PILIPINAS SHELL Petroleum Corp.’s solar farm in Tabangao, Batangas has been supplying power to the listed oil company’s import terminal since December, its top executive said on Monday. In a virtual event with reporters, Pilipinas Shell President and Chief Executive Officer Cesar G. Romero said the solar facility, which is part of the import terminal’s integrated energy system, has produced ...

WWW.FACEBOOK.COM/PG/FAREASTERNUNIVERSITY FAR EASTERN University, Inc. (FEU) posted a 27.8% increase in net income attributable to parent company equity holders to P589.33 million for its end-November quarter due to higher revenues and lower operating expenses. In a regulatory filing, FEU reported a 6.8% rise in total revenues to P1.25 billion for the September-November second quarter. The listed educational institution’s fiscal year ...

1 of 2 BALLET.PH BALLET PHILIPPINES’ (BP) latest entry in its library of video collections shows the dialogue inherent between structures and people, as exemplified in a Filipino home. The four minute short film is titled Galvanized House, a reference to the galvanized sheets used in the roofs of many of this country’s homes. Presentation notes read, “Galvanized House is ...

ASTI Business Services, Inc. (ABSI), the first subsidiary of Globe Telecom, Inc.’s Asticom Technology, Inc., a shared services company, is hoping to break into the multi-billion peso shared services market, as it aims to earn at least P500 million annually, the Ayala-led telecommunications firm said. “We are looking at an P11.25-billion market for the local IT-business service outsourcing (BSO) market ...