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Mactan-Cebu airport modernization given green light

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A group of businessmen asked the Supreme Court on Monday to stop a private consortium from undertaking the multibillion-peso expansion and rehabilitation project for the Mactan-Cebu International Airport (MCIA) that the Department of Transportation and Communications awarded last April. FILE PHOTO

The Department of Transportation and Communication (DOTC) has given the go signal for the upgrade of the Mactan-Cebu International Airport (MCIA) with the formal signing of the concession agreement with the winning consortium GMR-Megawide Tuesday.

Posted: April 22nd, 2014 in Latest Business Stories | Read More »

High cost of modernization takes toll on Globe income

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One step back, two steps forward. This was how Globe Telecom Inc. characterized its latest financial performance after it reported a 30-percent decline in its net earnings last year—despite having booked higher sales—as it accelerated spending for its ongoing network modernization program.

Posted: February 7th, 2013 in Editor's Pick,Headlines | Read More »

Modernization program pushes Globe capex to P11.7B in first 6 months

Ayala-led Globe Telecom said aggressive expansion efforts pushed its first-half capital expenditure (capex) to P11.7 billion, or about $273 million, the highest for the company in any six-month period, as its network modernization and IT transformation program went into full swing.

Posted: August 27th, 2012 in Headlines | Read More »

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