TODAY'S BUSINESS HEADLINES

SWIFT discloses more cyber thefts, pressures banks on security 31-Aug-16, 8:17 PM | Jim Finkle, Exclusive for Reuters

Processing of biz permits at LGUs now cut to 2 days 31-Aug-16, 10:22 AM | Jose Bimbo F. Santos, InterAksyon.com

S. Korea's Hanjin Shipping seeks court-led restructuring 31-Aug-16, 7:13 PM | Agence France-Presse

CA stops PCC probe of PLDT-Globe buyout of San Miguel's telco assets 30-Aug-16, 4:25 PM | Brian Maglungsod, InterAksyon.com

DOTr bares new plans to ease NCR traffic congestion 15-Aug-16, 3:57 PM | Gerard dela Peña, Bloomberg TV Philippines

Sky Cable blocks extension of rival's permit in Makati

InterAksyon.com means BUSINESS

MANILA, Philippines – The cable TV company of the Lopez group is blocking a rival’s bid to operate in Makati City.

Sky Cable Corp. has asked the National Telecommunications Commission (NTC) to recall the provisional authority it issued to Cable Link & Holdings Corp.

Sky Cable said allowing Cable Link to operate in Makati would lead to a duplication of service.

In blocking Cable Link’s permit, Sky Cable cited Section 5 of Executive Order 436, which prohibits the grant of a permit should the new entrant cause “ruinous competition.”

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