Philippines lifts Uber suspension after it pays nearly $10m in penalties


Uber paid a penalty of $3.72 million and another $5.87 million as financial assistance to drivers as demanded by the regulator.

Philippines: Menlo Capital ventures into telco with PT&T acquisition

Menlo Capital is the majority shareholder of MRC Allied, a PH listed company.

Exclusive: PH innovation hub Launchgarage to raise VC fund in 2018

The early-stage fund will focus in the areas of fintech, agritech, aquatech, and BPO enterprise software applications.

Philippines says will lift one-month Uber suspension if $3.7m fine paid

The regulator halted¬†Uber’s operations for a month from Aug. 14 for disregarding a directive to stop accepting new driver applications.

Philippines: UnionBank okays Bautista’s appointment as president and CEO

Bautista will take on the new role on January 1, 2018.

PH conglomerate Sterling Paper buys online firms Openovate, Galleon.ph

Sterling now owns 85 per cent of both Manila-based firms.

Japan Tobacco to buy Philippine cigarette maker Mighty Corp for $936m

Mighty is the second largest local tobacco company with 23% share in the Philippines.

ADB okays $3.8b funding support for infra, social services in Philippines

The Philippines can get about $3.8 billion in loans, and another $21.8 million in non-lending financing from ADB.

Philippines: PawnHero bags $9.7m financing, partners PLDT fintech arm

PawnHero will be the first digital pawnshop service to be available in the Lendr marketplace.

Philippines: MGHI to take over agribusiness conglomerate Calata

MGHI is acquiring 81 per cent stake in Calata.