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ABC Prime’s three tower project to rise in downtown Cebu City

Marc Cosep 01/25/2020

Cebu will soon have a new landmark as new property developer ABC Prime is developing a three-tower mixed used project in downtown Cebu City. Adding to the expanding boom of towers in the city, ABC Prime’s Tower…

Cordova land price increases with expected opening of CCLEX next year

Delta Dyrecka Letigio 01/24/2020

CEBU CITY, Philippines — Cordova is already feeling the economic impact that the Cebu-Cordova Link Expressway (CCLEX) is expected to bring on 2021.  Mayor Mary Therese Cho said on Thursday, January 22, 2020, during the progress visit…

28K businesses register for two-year business permit

Delta Dyrecka Letigio 01/23/2020

CEBU CITY, Philippines — As of mid-January 2020, the Cebu City Business Processing and Licensing Permit Office (BPLO) has recorded 28,000 businesses in the city to have availed of the two-year business permit.  This is more than…

UC renews ties with Momotarakai to help address job demands in Japan

Marc Cosep 01/23/2020

The University of Cebu (UC) strengthened ties with a Japanese employer to help address the growing job demands in Japan. UC president Augusto Go signed a Memorandum of Agreement (MOA), renewing its nine-year contract with the Momotarakai…

SEC orders three more online lending firms to stop illegal operations

Irene R. Sino Cruz 01/23/2020

CEBU CITY–The Securities and Exchange Commission (SEC) has ordered three more online lending firms to stop their illegal operations. SEC, in an emailed press statement, said Peso Tree, Pesoalo and Pinoy Cash Loan did not have the…

Stakeholders’ dialog needed to address concerns on Airbnb — hotel exec

Irene R. Sino Cruz 01/17/2020

CEBU CITY— While Airbnb do have an impact on hotels occupancy, a hotel executive sees the need to come up with a win-win solution for all those offering accommodations. Katherine Angala, general manager for Diamond Suites and…

AEV to issue first-ever dollar denominated bonds to finance offshore expansion

Irene R. Sino Cruz 01/13/2020

CEBU CITY—The Aboitiz Equity Ventures Inc. (AEV) aims to raise $400 million through the issuance of its fixed rate, US dollar-denominated unsecured notes. The issuance of the notes will be made through AEV International PTE Ltd., its…

itel eyes stronger presence of its smartphone products in Cebu, VisMin areas

Irene R. Sino Cruz 01/13/2020

CEBU CITY, Philippines—The competition in the budget phone market in Cebu is expected to be tighter when itel Mobile Philippines implements its aggressive marketing strategy here. itel, an emerging smartphone brand in the Philippines, banks on its…

AEV raises $400M via offshore bond offering

Doris Dumlao-Abadilla - Philippine Daily Inquirer 01/11/2020

Conglomerate Aboitiz Equity Ventures Inc. (AEV) has raised $400 million from an offshore bond offering, partly to refinance its takeover of Singapore-based agribusiness firm Gold Coin Management Holdings Ltd. AEV’s wholly owned subsidiary AEV International Pte. Ltd.…

Lapu-Lapu passengers given more ferry boat choices with new Topline Express route

Norman V. Mendoza 01/08/2020

LAPU-LAPU CITY, Philippines — More boats will now be available for passengers taking the ferry from Pier 3 in Cebu City to Muelle Osmeña wharf in Barangay Poblacion in Lapu-Lapu City after Topline Express opened a ferry…

DOLE-7 urges employers to implement new minimum wage 

Irene R. Sino Cruz 01/06/2020

    CEBU CITY, Philippines — Employers in Central Visayas have to implement the new wage rates that took effect on January 5. Salome Siaton, regional director of the Department of Labor and Employment in Central Visayas,…

DOLE-7: Court orders status quo, not suspension, pending resolution of petition of Bohol biz groups

Irene R. Sino Cruz 01/06/2020

CEBU CITY — The Bohol Regional Trial Court has ordered that a status quo on the minimum wage be maintained pending resolution of the petition of two business groups opposing the reclassification of Tagbilaran City. Salome Siaton,…

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