EEI sets ₱4-billion preferred share offering to fund awarded projects
Engineering firm EEI Corp. is raising ₱4 billion through the issuance of preferred shares by way of private placement to pay off loans and finance the construction of projects it has recently secured. In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, July 15, the firm said its board of directors approved the issuance of 40 million series E preferred shares with a par value of ₱0.50 each from its unissued preferred shares at an offer price of ₱100 per share. The preferred shares will be cumulative, non-voting, non-participating, non-convertible, and non-reissuable. They will be perpetual unless EEI exercises its sole option to redeem them five years from the date of issuance. “The net proceeds of the offer shall be used to fund the company’s general corporate and working capital requirements, financing of recently awarded projects, and settlement of loan obligations,” EEI said. The construction giant kicked off 2026 with a strong start by bagging ₱1.6-billion worth of contracts for major real estate construction projects in January and February. EEI President and Chief Executive Officer (CEO) Henry D. Antonio said the new projects bring EEI closer to meeting its 2026 order book targets and reinforce its presence in the high-growth residential and hospitality...
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AI company behind FAA's SMART tool denies link to ground stop, Duffy confirms
Air Space Intelligence (ASI), the company behind a recently deployed Federal Aviation Administration (FAA) AI tool, denied any link to the nationwide ground stop issued Friday afternoon. “The current ground stop is not based on or a result of the SMART system, any product of ASI or our integration with FAA and ATC,” the company...
Duffy, Mullin call for $50B air travel 'overhaul' in fiery ground stop briefing
Trump administration officials reupped their calls for a multi-billion-dollar investment into updating the U.S.'s "incredibly old" air traffic control systems, calling out Congress for "[kicking] the can down the road" on improvements they argued could have prevented Friday night's nationwide ground stop. “What we have is an incredibly old air traffic control system,” Transportation Secretary...
Two Venices, one problem: What Kerala can learn from Macao’s tech makeover
Macao has a replica of Venice built inside a casino resort, complete with gondolas and a painted sky. Kerala has Alappuzha, which tourism brochures have called the Venice of the East for longer than anyone can remember. Two small places, two Venices, and one shared headache: both are tired of being known for one thing. […] The post Two Venices, one problem: What Kerala can learn from Macao’s tech makeover appeared first on e27.
Shop, scan, save: how to use OCBC overseas QR payments in 7 destinations
Travellers can unlock perks at merchants in 7 countries and stores like Don Quijote, Shake Shack and 7-Eleven, without juggling multiple apps or loyalty programmes.
Live updates: FAA lifts nationwide ground stoppage
Editor's Note: Sens. Bernie Sanders (I-Vt.) and Elissa Slotkin (D-Mich.) earlier this week said they would not back Sen. Chuck Schumer (D-N.Y.) for another term as Democratic leader. Slotkin has said she is seeking change, and that a new leader would need to show a plan for the first 100 days. An earlier version of...
Uber reports US driver's license information stolen during data breach
Uber disclosed this week an unauthorized third party improperly accessed the ride-hailing platform's data, according to a notice shared by the California attorney general’s office. In the notice, dated Nov. 10, the company said a service provider notified them of the incident a month prior. The platform then conducted an investigation, which found the unauthorized...
Microsoft Outlook outage: perils of relying on big tech
“I hope this email finds you well.” It apparently has not. Filipinos woke up today to an outage of Microsoft cloud services including Microsoft Outlook, MS Teams, and Office 365, the premiere suite for the backbone of most global enterprises across different industries. It has been more than 12 hours since the outage and Microsoft
What if paying bills turned into a psychological horror game?
MANILA, Philippines – When the theme for the Filipino Horror Game Jam 2026 dropped, Angelo Barrera and the team at Mithika Games figured they’d end up making something with ghosts or local folklore. Then somebody pitched an idea as a half-joke: what about household bills? Electric bills, rent, and grocery receipts don’t exactly sound like
Trump 'gaslighting' over Huang controversy: Kara Swisher
Left-leaning journalist Kara Swisher criticized President Trump’s response to former Nvidia CEO Jensen Huang’s scandal involving an extramarital affair with a suspected Chinese spy, saying the president is downplaying the seriousness of the allegations. “He has to say nothing's going on here … because if there were, he's in real trouble,” Swisher told CNN’s Kaitlan...
Bessent: Treasury pushed to blacklist Megaspeed, but 'Commerce has the pen'
Treasury Secretary Scott Bessent is pointing the finger at Commerce Secretary Howard Lutnick over the Trump administration's failure to place Nvidia customer Megaspeed on a U.S. trade blacklist for national security concerns. When pressed Friday over who was behind the decision, Bessent told CNBC, "Treasury, War, USTR [U.S. Trade Representative] and State … were in...
White House sends CFTC, SEC nominations to Senate
President Trump on Thursday nominated two officials each to the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Trump nominated Democrat Kristin Johnson and Republican Steven Levine to the SEC, with their respective terms set to expire in 2029 and 2030. Johnson previously served as a commissioner at the CFTC, after...
Will Jensen Huang’s downfall tip the scales against open-source AI?
Jensen Huang’s abrupt resignation from Nvidia has cast uncertainty over the US chip giant’s multibillion-dollar investments in open-source artificial intelligence, while potentially depriving Chinese developers of one of their most influential advocates in Washington. His departure could prompt Nvidia to scale back spending on open-weight models and their supporting infrastructure, analysts said, although strong commercial incentives would likely keep the company committed to the broader...
