Arjay L. Balinbin

LBC Express net loss widens to P144M

LBC Express net loss widens to P144M

LBC Express Holdings, Inc. saw its attributable net loss for the third quarter of the year widen to P144.11 million from a loss of P64.22 million in the same period a year ago, mainly due to higher non-operating expenses. The company’s service revenue for the period went up 1% to …

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Cebu Air losses shrink to P2.5B

Cebu Air losses shrink to P2.5B

CEBU AIR, Inc. (CEB), the listed operator of budget carrier Cebu Pacific, announced on Thursday that it managed to cut its attributable net loss for the third quarter of the year to P2.54 billion from a loss of P8.20 billion in the same period last year. The company’s revenues for …

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Grab-Move It deal falls below threshold for regulatory review

Grab-Move It deal falls below threshold for regulatory review

THE Philippine Competition Commission (PCC) said on Tuesday that Grab Philippines’ acquisition of motorcycle taxi firm Move It does not require its approval.  “Based on an initial assessment by the PCC, Grab Philippines’ acquisition of Move It likely did not breach the thresholds for compulsory notification,” PCC Officer-in-Charge Chairman Johannes …

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Starlink PHL operation moved to middle of 2023

EdgeConneX-Aboitiz first data center to start construction next year

STARLINK Internet Services Philippines, Inc. of Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is expected to start serving remote communities in the Philippines by the middle of 2023, the Department of Information and Communications Technology (DICT) said. “Starlink will be operational here in the Philippines by middle of next year,” …

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