The Philippine Department of Transportation and Communications said it is eyeing the possibility of rebidding the LRT-1 Cavite extension project under revised terms.
Industry
Itau to contest USD8 billion tax charges
Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
EU Commission conducts investigation on Belgian aid to Wallonia airports
The European commission seek to prove that the Belgian aid to Wallonia airports was illegal. The European Commission (EU) called for an investigation into the Belgian aid for several airports in the Wallonia region.
US regulator okays ICE takeover of NYSE Euronext
The US Securities and Exchange Commission approved the takeover by IntercontinentalExchange of NYSE Euronext.
Cuadrilla Resources temporarily stops drilling as anti-fracking protests escalate
Cuadrilla Resources suspended its oil drilling exploration in Balcombe as anti-fracking protests intensified.
Latest News
China Resources Land Ltd bagged the right to buy a commercial site in Shenzhen for USD 1.8 billion. China Resources Land Ltd won the right to buy a commercial site in Shenzhen.
Japan Tobacco International said they will continue to grow in the Philippines despite higher taxes on cigarettes.
Retail company Macy's blamed shoppers' current spending habits for its second quarter sales.
Political unrest in Egypt affected both small-scale and large scale business. Observers fear it would get even worse.
Sources told Reuters if the government's anti-trust case against the AMR-US Airways merger prospers, AMR would have to go back to the drawing board and investors would suffer.
Cisco Systems announced it would be whittling down its workforce by 5%. Cisco Systems Inc announced it would be reducing its workforce by 5%. The move would affect 4,000 jobs.
India's INS Sindhurakshak exploded in Mumbai, killing up to 18 sailors trapped inside. India's Russian-made naval submarine exploded while moored in Mumbai.
India's biggest producer Tata Steel is looking for a comeback with a 30% rise in share price this year, prompting an industry observer to suggest that investors sell their Tata stake now.
As the dispute over terms of the retransmission contract between CBS and Time Warner Cable rages on, government representatives and federal regulators are considering to take action to end the dispute at the soonest possible time.
