Manila Water Allots P20B for the Next Two Years
Manila Water Co. is earmarking P20 billion for capital expenditures this year and the next. The East Zone concessionaire aims to double 2015’s nearly P6 million revenue by 2020. The …
2,700 Model X Vehicles Voluntarily Recalled by Tesla
Tesla once again voluntarily recalled a vehicle model. Tesla has also made a recall on its Roadster, Model S, and a charging cable before. This time, 2,700 Model X were …
New Literature-Based Social App Arrives
For all the book lovers out there, a brand new social app has appeared on the horizon: Litsy. The startup was founded by Jeff LeBlanc and Todd Lawton, who derived …
Two Satellite Plants Sent to Masbate by DMCI
DMCI, an off-grid electricity supplier, has deployed two satellite diesel-fired plants to Masbate. The satellites have a combined capacity of 175 megawatts, which ensures that enough reliable power will be …
Macay Preparing for Potential Share Sale
Macay Holdings Inc. is gearing up for a potential share sale after moving to boost its capitalization to support future capital requirements. The company managed to secure board approval on …
Spotify has raised $1 billion in debt to battle with Apple Music
Spotify is reportedly raising $1 billion in debt financing from TPG, Dragoneer, and clients of Goldman Sachs, as reported by Wall Street Journal’s Douglas MacMillan. Why? This has something to …
Tinder Now Owns Humin
The ever-famous dating app Tinder has officially acquired Humin, the San Francisco-based startup. Humin co-founders Ankur Jain and David Wyler will now be joining Tinder’s team as VP of Product …
AXA Takes Over Charter Ping An
AXA Life Insurance Corp.’s planned takeover of Charter Ping An Insurance Corp has finally been completed. The intention to acquire Charter Ping An was first announced back in November of …
Property Firms Eyed for MCIA Mixed-Use Project
Megawide Construction Corp. and the Bangalore-based GMR Infrastructure Ltd. plan on talking with property developers by June. The purpose of these talks is Mactan-Cebu International Airport’s mixed-use component, which is …
ALI Plans to Raise P7 Billion Through Fixed-Rate Bonds
Property Giant Ayala Land plans on raising P7 billion by issuing fixed-rate bonds. This will form the second tranche of its P50 billion debt securities program. Net proceeds is expected …