THE cost of traffic congestion in Metro Manila has ballooned, preliminary data from Japan International Co-operation Agency (JICA) showed. In his presentation during the 36th Joint Meeting of the Philippines and Japan Economic Cooperation Traffic demand now stood at 13.4 million trips a day, he said. “If we do nothing, it will become P5.4 billion a day in 2035,” Ito told the participants of the meeting in Makati City. With the ballooning traffic cost, the government’s “Build, Build, Build” or BBB infrastructure program was in the right direction, he said. “With BBB, traffic cost will be reduced to P3 billion a day. And with additional projects, it will be reduced to P2.4 billion a day,” he added. The Duterte government plans to spend P8 trillion to P9 trillion on public infrastructure, to usher the “Golden Age of Infrastructure” in the Philippines.The Build, Build, Build program seeks to modernize the country’s … [Read more...] about Metro Manila traffic cost balloons to P3.5B/day
Metro
Cave-in at south China metro construction site kills 8
BEIJING: Eight people were killed and three were missing after a cave-in at a construction site for a new metro line in Foshan city in southern China's Guangdong province, the city's transport bureau said on Thursday. The municipal government in Foshan said the collapse occurred at 8.40pm Wednesday and that nine workers were rescued and were in stable condition.Foshan is in the industrial heartland of Guangdong province, close to the financial hub of Hong Kong.The site of the collapse was in a central area of the city beneath an eight-lane road. An area the size of two basketball courts sunk to a depth of 6 metres, according to state broadcaster CCTV.Water had been entering the site from leaks in pipes, which workers attempted to plug but ultimately caused a burst that led to the collapse, CCTV said.The line under construction runs for 23km through the city north of the provincial capital of Guangzhou, also known as Canton.The rapid expansion of subway networks in Chinese cities has … [Read more...] about Cave-in at south China metro construction site kills 8
Loblaw, Walmart, Sobeys, Metro, Giant Tiger allegedly involved in alleged bread price-fixing scheme: Court documents
Canada’s largest grocers, including Sobeys Inc. and Metro Inc., were allegedly involved in the 14-year scheme to fix bread prices, according to court documents unsealed on Wednesday.The two companies continue to deny involvement in the criminal scheme, made public in December.Loblaw Companies Ltd. and George Weston Ltd. have admitted their participation and received immunity from prosecution from the Competition Bureau.The court documents released Wednesday provide more details on how the scheme allegedly worked: the agreed-upon price increases were on average, about 10 cents per product per year, with seven cents going to the suppliers and three cents to the retailers.The pattern became known colloquially as “the 7/10 convention.” … [Read more...] about Loblaw, Walmart, Sobeys, Metro, Giant Tiger allegedly involved in alleged bread price-fixing scheme: Court documents
Metro announces increase in automation to combat minimum-wage hikes
MONTREAL—Metro Inc. will soon test scan-and-go technology and increase the number of self-checkout machines in its grocery stores as it looks to offset higher minimum wages in Ontario and Quebec.The scan-and-go system — still at the experimental stage — allows customers to scan items as they put them in their shopping cart and pay as they leave the store.Walmart has scan-and-go technology in some Canadian stores while Amazon is also testing its own system.Metro says it will run a scan-and-go pilot project at an undisclosed Quebec store, despite some past reliability problems.The Montreal-based company will also add more self-checkout machines, particularly in Ontario where the minimum wage was increased to $14 an hour and is projected to rise to $15 next January. … [Read more...] about Metro announces increase in automation to combat minimum-wage hikes
Metro takeover, generic-drug changes weigh down Jean Coutu’s profits
MONTREAL—The Jean Coutu Group Inc. reported a drop in its third-quarter profit compared with a year ago, weighed down by costs related to the sale of the company to Metro Inc. and changes affecting its generic drug business.The pharmacy chain says it earned $42.1 million or 23 cents per share for the quarter ended Dec. 2, compared with a profit of $51.2 million or 28 cents per share a year earlier.Revenue totalled $758.9 million, down from $763.7 million in the same quarter a year earlier.In November, Jean Coutu shareholders voted 99.9 per cent to a takeover offer by Metro in a stock-and-cash deal worth $4.5 billion, or $24.50 per share.The transaction is expected to close later this year. … [Read more...] about Metro takeover, generic-drug changes weigh down Jean Coutu’s profits