By Lorenz S. Marasigan
The operations of Uber Manila as a transport network company (TNC) are now legal, the Land Transportation Franchising and Regulatory Board said on Wednesday, but its drivers are still required to secure their own accreditation.
THE LATEST NEWS ON WEDNESDAY, AUGUST 19, 2015
Apex Mining Co., Inc. (APX) posted a consolidated net income of P81.7 million for the first half of 2015, a reversal from the loss of P279 million during the same period last year. Parent company net income was P102.7 million, before reflecting a net loss of P25.5 million from wholly-owned subsidiary, Monte Oro Resources and Energy, Inc. and subsidiaries, in the consolidated company accounts. Revenue was 72 percent higher than the same period in 2014, from P685.1 million to P1.178 billion. This was mainly due to higher gold and silver outputs during the period in review.
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Nickel Asia Corp. has acquired 10 percent of Nihao Mineral Resources, Inc. (Nihao) for P404 million. The company considers this transaction an important milestone in line with its growth strategy. This transaction involves 101 million shares of Nihao priced at P4 apiece. Nihao owns various claims unders its own name and its units, including Mina Tierra Gracia, Bountiful Geomines Inc., and Masbate 13 Philippines Inc.
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The Cagayan Valley Region is no longer an illegal logging hotspot, according to an official of the Department of Environment and Natural Resources.
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The Mining Industry Coordinating Council’s proposed tax measure on mining will not benefit local government and indigenous people, according to the Alyansa Tigil Mina, which submitted a position paper on the the proposed measure.
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Aboitiz Renewables Inc. (ARI) has signed a deal with SunEdison Philippines Helios BV (SunEdison) to formalize their partnership in a solar power firm controlled by the subsidiary of Aboitiz Power Corp.
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State-owned Bases Conversion Development Authority will award the best housing design on a residential mixed-income and affordable housing community in Clark Green City, in line with its vision for a “slum-free” city.
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The Bureau of Internal Revenue has broadened its value added tax (VAT) audit program and has added new profiles of taxpayers that will now be considered as taxpayers who are at “high risk” of under-reporting VAT liabilities.