GMR Airports International said that it has entered into an agreement to sell its stake in the Mactan Cebu International Airport in Lapu-Lapu City, Cebu in the Philippines to Aboitiz InfraCapital for INR 1389.9 crores. The deal involves GMR Airports’ stake in GMR Megawide Cebu Airport Corporation (GMCAC), which is a joint venture between the […]
Japan’s Mitsubishi UFJ Financial Group (MUFG) and MUFG Bank have agreed to buy 100% of HC Consumer Finance Philippines (HC Philippines) and 85% of the shares of Home Credit Indonesia (HC Indonesia), both subsidiaries of Home Credit (HC) for around €596 million (nearly ¥87 billion). The acquisition is part of MUFG and MUFG Bank’s strategy […]
Indian conglomerate Larsen & Toubro (L&T) said that its construction arm has won orders for its multiple businesses, worth in the range of INR 1,000 to 2,500 crores. Larsen & Toubro’s water and effluent treatment business has won a contract from the Rural Drinking Water & Sanitation Division, Karnataka. The contract is for constructing drinking […]
Tiger Resort, Leisure and Entertainment (operating as Okada Manila), a casino resort in the Philippines, has agreed to merge with 26 Capital Acquisition Corp., a Miami-based blank check company, in a deal that values the former at $2.6 billion. The deal enables Okada Manila to become a publicly-traded company, which is expected to trade on […]
Infosys said that UnionBank of the Philippines (UBP) will move from an on-premises deployment to Infosys Finacle Digital Banking Solution Suite on Cloud. According to the Indian IT giant, more than eight million customer accounts will be considered for shifting to the new software-as-a-service (SaaS) platform. The migration is expected to help UnionBank of the […]
Tata Consultancy Services (TCS) said that it will help Converge ICT Solutions, a fiber broadband provider in the Philippines, in further boosting the customer experience (CX) for its subscribers. According to the Indian IT services provider, Converge ICT Solutions is growing its fiber network aggressively to address the pent-up demand for broadband services in the […]
UPC Renewables and AC Energy have selected Siemens Gamesa to supply, install, and commission 32 turbines for the 160MW Balaoi & Caunayan wind project in the Philippines. Balaoi & Caunayan is being developed by UPC Renewables and AC Energy in Pagudpud, Ilocos Norte province on Luzon Island with an investment of PHP 11.4 billion ($230 […]
Royal Dutch Shell is executing a deal worth up to $460 million to sell its interest in the Malampaya gas project in the Philippines to Malampaya Energy XP, a subsidiary of Udenna Corporation. The deal is being carried out by the company’s subsidiary Shell Petroleum whose 45% stake in Service Contract 38 (SC38) offshore licence […]
Moderna has agreed to supply the Philippines with seven million additional doses of Covid-19 Vaccine Moderna, to take the confirmed order commitment to the Asian country to up to 20 million doses. The US biotech company said that the seven million additional doses have been secured under a partnership with the private sector. Currently, the […]
The Asian Development Bank (ADB) has sanctioned $25 million to help the government of the Philippines to buy COVID-19 vaccines in 2021. The financing is provided from the $125 million Health System Enhancement to Address and Limit COVID-19 project, approved by the ADB last August. It will help the Philippine government to pay advance to […]