ICTSI unit to develop multipurpose terminal in Nigerian Port By JON VIKTOR D. CABUENAS, GMA News
Published March 4, 2021 12:00pm Razon-led International Container Terminal Services Inc. (ICTSI) has inked a lease agreement to develop a multipurpose terminal in Nigeria s Port of Onne. In a regulatory filing on Thursday, ICTSI said its subsidiary International Container Terminal Services Nigeria Ltd. (ICTSNL) will take charge of the project in agreement with the Nigerian Port Authority. The multipurpose terminal will be designed to handle containers as well as general cargo, including project, heavy lift, and roll-on/roll-off cargoes, the disclosure read. ICTSNL will also develop and equip Berths 9, 10, and 11 of the Federal Ocean Terminal of the Onne Port Complex in the Rivers State.
Globe working with CurvaNet satellite for remote local areas By JON VIKTOR D. CABUENAS, GMA News
Published March 4, 2021 3:01pm Ayala-led Globe Telecom Inc. is now working with broadband technology manufacturer Curvalux to possibly tap its low earth orbit satellite project for remote areas in the Philippines. The telco said Curvalux s satellite broadband constellation CurvaNet will be able to deliver broadband internet services to areas beyond the reach of any telecom towers through its low-cost, solar-powered customer terminal. Curvalux is a division of technology firm Airspace Internet Exchange (AirspaceIX) involved in wireless broadband, with a system designed specifically for operators and internet service providers (ISPs).
By JON VIKTOR D. CABUENAS, GMA News
Published March 4, 2021 6:07pm Food maker Monde Nissin Corporation which owns the Lucky Me! brands is set to generate some P63 billion, in what could be the biggest initial public offering in the Philippine market to date. Monde Nissin plans to offer 3.6 billion shares at as much as P17.5 apiece based on its prospectus filed with the Securities and Exchange Commission (SEC) dated March 2, 2021. It has also set an overallotment option of 540 million shares. The company s Asia-Pacific Branded Food and Beverage Business includes instant noodles, biscuits, oyster sauce, and yogurt drinks under the brands Lucky Me!, SkyFlakes, Fita, Nissin, M.Y San Grahams, Mama Sita s, and Ditch Mill.
Budget carrier Cebu Pacific is eyeing to raise at least P16 billion through tapping loans from various banks in a bid to sustain its operations, which was hit by the COVID-19 pandemic.
By TED CORDERO, GMA News
Published March 3, 2021 8:27pm
Photo: AIIB China-backed multilateral lender Asian Infrastructure Investment Bank (AIIB) on Wednesday dismissed criticisms that the East Asian powerhouse is using loans to make countries fall into a debt trap, amid lingering concerns and distrust over Beijing’s diplomatic policy to let poorer and developing countries borrow from Chinese banks. During the virtual forum for Philippines-China Relations of the Association for Philippines-China Understanding (APCU), AIIB president Jin Liqun was asked to comment about the alleged “debt-trap diplomacy” of Beijing. As a result, for instance, Sri Lanka was forced to surrender control of its main southern port in the town of Hambantota to a Chinese firm as part of a plan to convert $6 billion of loans that the country owes China into equity.