By Matikas Santos
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.
By Daxim L. Lucas
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.
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.