To attract more foreign investments, President Rodrigo Duterte has signed Republic Act No 11647 otherwise known as “Act Promoting Foreign Investments”. Republic Act. 11647 is a consolidation of Senate Bill No. 1156 and House Bill No. 300 that was passed by Congress in December 2021. A copy of which is now available to the public. […]
ABS-CBN Corporation and TV5 Network were previously working on closing an investment deal that would allow ABS-CBN to acquire 6.46 million new common shares of TV5, representing 34.99 percent of its total voting and outstanding capital stock, for Php 2.16 billion. Cignal Cable Corporation, in a separate transaction, would also acquire 38.88% equity interest in […]
After finally reaching an agreement, ABS-CBN Corporation and TV5 Network have decided to delay the closing of their investment deal due to political pressures. “To address the issues which have been raised by certain legislators and the National Telecommunications Commission on the proposed investment by ABS-CBN for a minority interest in TV5, ABS-CBN and TV5 […]
Recently, the Congress proposed a measure allowing 100 percent foreign ownership in the telecom industry as well as other public utilities. This prompted foreign telcos to express their intention in entering the Philippine market. On Monday, March 21, Durterte finally signed the said measure amending the Public Service Act. This means that foreigners may now […]
The list is pretty long After wallowing in a duopoly for what seems like forever, Filipinos may finally get their third telco this year. With the release of the the new timeline for the selection of the New Major Player (NMP, AKA third telco) by The Department Of Information and Communications Technology (DICT) and the […]
Earlier, President Rodrigo Duterte reiterated his administration’s stance to drastically improve the country’s telecommunications and power sectors through the allowance of foreign providers. “The only way to make this country move faster to benefit the poor is really to open up communications, the airwaves, and the entire energy sector. My decision now, at this moment […]
OPPO’s ambition of having its own chips kicked off in 2021 with the Marisilicon X imaging NPU, which was used on the Find X5 series and Reno8 Pro for improving image and video post-processing capabilities. The NPU proved to be a big help in improving camera performance in general, and OPPO intends to take another […]
Clark will be the start of the company’s 5G rollout Major news today from PLDT today: the company has officially announced that Smart Communications Inc. (Smart) and Clark Development Corp. (CDC) have signed a memorandum of understanding to launch Clark Freeport Zone (CFZ) as the country’s first Smart 5G City. The telco will fire up the […]
UPDATE: Move It has reached out to us, and gave this statement in response to the presscon held by the four “cause-oriented” civic groups: Move It remains one of the three motorcycle operators, and its accreditation remains it’s own and does not transfer to Grab. This is the same situation in Angkas, one of the […]
DITO CME Holdings Corp. has incurred a huge net loss for the first half of 2022. This is despite the increase in revenue for the same period. During the company’s filing with the Philippine Stock Exchange, DITO said the losses were due to billions of unrealized foreign exchange losses, as well as increases in costs […]
The Department of Trade and Industry (DTI) said they invited several Chinese EV and battery manufacturees to operate in the Philippines. Recently, the DTI participated in the 2022 International Summit on Lithium Battery Technology and Application for Light Electric Vehicles (BLEV 2022) in Guangzhou, China. This is where DTI had the chance to invite Chinese EV […]
European telcos may soon enter the Philippine market, thanks to Congress for passing a measure that allows full foreign ownership in the industry. The proposed measure has made several European companies eye the Philippines. According to Lars Wittig, President of the European Chamber of Commerce of the Philippines (ECCP), the ratification of the bill amending […]