By TED CORDERO, GMA News
Published March 10, 2021 4:15pm Gokongwei-led Cebu Air Inc., the operator of budget carrier Cebu Pacific, said Wednesday it has successfully raised P12.5 billion from its issuance of peso-denominated convertible preferred shares, to finance its financial obligations. In a disclosure to the Philippine Stock Exchange, Cebu Air said it has ended the stock rights offer of 328,947,368 non-voting, non-participating convertible preferred shares as an “entitlement rights” at a price of P38 per entitlement right. “Accordingly, the Entitlement Rights have been fully subscribed and paid,” the company said. The listing date for the offer shares is tentatively set on March 29, 2021.
Telecommunications duopoly challenger DITO Telecommunity Corp. on Wednesday said that those who own handsets which are not included in the initial list of compatible phone models it released can still enjoy its network services.
Meralco slashes power rates for 2nd straight month in March By TED CORDERO, GMA News
Published March 9, 2021 11:03am Customers of the Manila Electric Co. (Meralco) can expect lower monthly electricity bills this month as the distribution utility is slashing anew the electricity rates, reflecting the government-mandated refund to its consumers. On Tuesday, Meralco said it is reducing household power rates by P0.3598 per kilowatt-hour (kWh), bringing the overall rate to P8.3195/kWh in March from P8.6793 in February. This is the second consecutive month that the power distribution firm implemented rates reduction. The P0.3598/kWh rate rollback is equivalent to a decrease of around P72 in the total bill of residential customers consuming 200 kWh.
Senate agri panel seeks declaration of nationwide state of emergency amid ASF problem By ERWIN COLCOL, GMA News
Published March 9, 2021 12:55pm The Senate agriculture committee is calling on the Department of Agriculture (DA) to recommend to President Rodrigo Duterte the declaration of a state of emergency in the entire country amid the threat of the African swine fever (ASF). During its meeting on Tuesday, the panel approved the motion of Senator Francis Pangilinan calling for a declaration of state of emergency in the island of Luzon in light of the ASF threat. We move that [the] DA recommend to the Office of the President the declaration of a state of emergency in Luzon so that public funds may be realigned to address the state of emergency, he said.
McDonald s Philippines to vaccinate restaurant crews for free By JON VIKTOR D. CABUENAS, GMA News
Published March 9, 2021 2:30pm McDonald s Philippines has purchased close to 100,000 doses of COVID-19 vaccines from AstraZeneca, as the fast-food chain operator said it plans to inoculate its employees for free. According to Golden Arches Development Corp. (GADC), half of the vaccines will be donated to the government and administered by the Department of Health (DOH) in accordance with the government s allocation framework. With the health and safety of people being our top priority, we will be providing the COVID-19 vaccine for free for our frontliners crew and managers, in all company-owned restaurants nationwide, said president and chief executive officer Kenneth Yang.