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85-468: The Manila Electric Company ( PSE :  MER ), also known as Meralco ( / m ɜːr ɑː l k oʊ / , Tagalog: [mɛˈɾalkɔ] , stylized in uppercase ), is an electric power distribution company in the Philippines. It is Metro Manila 's only electric power distributor and holds the power distribution franchise for 39 cities and 72 municipalities, including the whole of Metro Manila and

170-417: A 100% increase in electric rates, with continuous increases throughout Romualdez' management. A rate adjustment clause, which allowed MERALCO to adjust its rates depending on crude oil increase or higher dollar exchange rates, was also introduced. In 1977, MSC was renamed First Philippine Holdings Corporation . By 1978, all of the Philippines' major power plants were owned and operated by Napocor, including

255-546: A 170-strong fleet of streetcars, before switching over to buses later in that decade. The company operated 52-miles of trams until World War II. The equipment and tracks of the system was severely damaged during the war and had to be removed. By 1915, electricity generation and distribution became the main MERALCO's main income generator, overtaking its public transportation operations in terms of revenue. In 1919, it changed its official name to Manila Electric Company. By 1920,

340-408: A central city and its suburbs, which may or may not include the entirety of a metropolitan area. Population figures given for one metro area can vary by millions. There has been no significant change in the basic concept of metropolitan areas since its adoption in 1950, although significant changes in geographic distributions have occurred since then, and more are expected. Because of the fluidity of

425-703: A city"), plural: aires d'attraction des villes . The official translation of this statistical area in English (as used by INSEE) is "functional area". The AAV follows the same definition as the Functional Urban Area (FUA) used by Eurostat and the OECD , and the AAVs are thus strictly comparable to the FUAs. The AAV replaced in 2020 the metropolitan statistical area called aire urbaine (AU). The AU, which

510-697: A company that is also listed on the exchange ( PSE :  PSE ), which is responsible for managing the entire stock exchange, and currently has a total of 285 listed companies. The main index for the PSE is the PSE Composite Index (PSEi) composed of thirty (30) listed companies . The selection of companies in the PSEi is based on a specific set of criteria ranging from total capitalization to minimum number of stockholders upon its planned listing. There are also six additional sector -based indices. The PSE

595-681: A district in Kocaeli province and thus in the jurisdiction of the Kocaeli Metropolitan Municipality, is arguably within the metro area of Istanbul with many of its residents commuting to Istanbul for work and the Marmaray, a commuter rail line, extending into the district. The district however, as previously mentioned, is not a part of Istanbul's provincial limits, and thus not subject to the jurisdiction of its metropolitan municipality. The word metropolitan (municipality)

680-431: A harmonised definition of the metropolitan area, and the goal was to have an area from which a significant share of the residents commute into the city, a concept known as the "functional urban region". France's national statistics office, INSEE , names an urban core and its surrounding area of commuter influence an aire d'attraction d'une ville    [ fr ] (or AAV, literally meaning "catchment area of

765-577: A high degree of economic and social integration with the core as measured by commuting ties. The OMB then defines a Combined Statistical Area as consisting of various combinations of adjacent metropolitan and micropolitan statistical areas with economic ties measured by commuting patterns. The Office of Management and Budget further defines a core-based statistical area (CBSA) to be a geographical area that consists of one or more counties (or equivalents) anchored by an urban center of at least 10,000 people plus adjacent counties that are socioeconomically tied to

850-528: A metropolitan area, it is sufficient that a city or cities form a nucleus with which other areas have a high degree of integration. A metropolitan area is commonly known and characterized by a high concentration in service sector labor and enterprises. Macroeconomics views metropolitan areas as trade regions of economic significance. The Greater Johannesburg metropolitan area is the fourth largest metropolitan area in South Africa . Its population

935-471: A normal Italian province. The list of metropolitan areas in Sweden is collated based on statistics of commuting between central municipalities and surrounding municipalities and taking into account existing planning cooperation in the country's three geographic regions. They were defined around 1965. In 2005, a number of further municipalities were added to the defined areas. The word metropolitan describes

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1020-571: A policy of serving prior disconnection notice. The 2.4 GHz band is mostly used by Wi-Fi and Bluetooth. In 1993, the National Telecommunications Commission allocated the 2.4 GHz band for the exclusive use by Meralco in Metro Manila, Central Luzon , and Calabarzon for the operation of their Supervisory Control and Data Access (SCADA) system which controls and monitors Meralco’s substations. This has made

1105-473: A population exceeding one million as a metropolitan area as per the Code of Criminal Procedure, 1973 . In Indonesia , the government of Indonesia defines a metropolitan area as an urban agglomeration where its spatial planning is prioritised due to its highly important influence on the country. Jakarta , Surabaya , Bandung , Semarang , Medan , Makassar , Palembang are important metropolitan area in

1190-632: A retail store in order to sell electric home appliances. During the Second World War , the Japanese occupying forces forcibly transferred all of MERALCO's assets and holdings to the Japanese-controlled Taiwan Power Company . By war's end, most of the former Meralco facilities had been destroyed. AGECO was reorganized as General Public Utilities Corporation or GPU in 1946. MERALCO's autobus franchise

1275-472: A similar attraction at a smaller scale for a region, the concept of a regiopolis and a respective regiopolitan area, or regio, was introduced by German professors in 2006. In the United States, the term micropolitan statistical area is used. A metropolitan area combines an urban agglomeration with the contiguous built-up areas, which are not necessarily urban in character but are closely bound to

1360-473: A trading floor moot. PSE also said that the closure of the trading floor was done to embrace digitalization. The PSE has eight constituent indices: The PSEi is the main index of the PSE, while the All Shares Index is the broader index of the exchange. The remaining six indices are sector indices based on a company's main source of revenue . Although listed in an index, companies are listed on

1445-532: Is a metropolitan area in the United Arab Emirates. It consists of the combined, greater urban areas of Dubai, Ajman, and Sharjah. The urban areas at the northeast end of Dubai flow into those of Sharjah, which in turn are contiguous with those of Ajman. The total population is about 5.9 million people as of 2023 The European Union 's statistical agency Eurostat has created a concept named larger urban zone (LUZ). The LUZ represents an attempt at

1530-470: Is generally only used as an administrative distinction in Turkey. The United Kingdom 's Office for National Statistics defines " travel to work areas " as areas where "at least 75% of an area's resident workforce work in the area and at least 75% of the people who work in the area also live in the area". The European Union 's ESPON group has compiled a separate list of metropolitan areas which covers

1615-577: Is located in Luzon ), Metro Cebu (which is located in Visayas ), Metro Davao (which is located in Mindanao ), and Greater Manila Area (which is the largest metropolitan area of Manila ). The official definition of each area does not necessarily follow the actual extent of continuous urbanization. For example, the built-up area of Metro Manila has long spilled out of its officially defined borders into

1700-572: Is not tabulated on the level of these Areas, but instead at the municipality or state level. In Canada, a census metropolitan area (CMA) or census agglomeration (CA) consists of one or more neighboring municipalities centered around a core population. A CMA requires a total population of at least 100,000, with 50,000 or more residing in the core, while a CA requires a core population of at least 10,000. Both are determined using data from Canada's Census of Population Program, and surrounding municipalities must demonstrate strong economic integration with

1785-550: Is overseen by a 15-member board of directors, chaired by José T. Pardo. On February 3, 1936, the Securities and Exchange Commission announced that it had "relinquished control of the Manila Stock Exchange." The Philippine Stock Exchange was formed on December 23, 1995, from the merger of the Manila Stock Exchange (MSE) (established on August 12, 1927, based on Muelle de la Industria, Binondo , Manila ) and

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1870-610: The International Labour Organization , the OECD , and the World Bank have agreed on a common methodological framework for delimitation of urban and rural areas, which contains a definition of metropolitan areas called the Functional urban area . It is defined as a city and its commuting zone, which is a contiguous area of spatial units that have at least 15% of their employed residents working in

1955-779: The Islamabad Capital Territory ; two are located in Sindh , including Karachi , the largest metropolitan area in the country, and Hyderabad ; one in Khyber Pakhtunkhwa : Peshawar ; and the final in Balochistan : Quetta . The Philippines currently has three metropolitan areas defined by the National Economic and Development Authority (NEDA). These metropolitan areas are separated into three main geographical areas; Metro Manila (which

2040-579: The JG Summit Group with 29.56%, for a combined 75.02% control of MERALCO. In 2014 and 2015, MERALCO requested the 16th Congress to tackle the extension of its franchise early, although its renewal was not due until six years later, in 2020. Meralco is facing a Philippine legislative inquiry/investigation for alleged excessive pricing. The government has considered a plan to take over Meralco, to reduce electricity bills. Meralco and National Transmission Corporation (TransCo) blamed each other for

2125-805: The Paris metropolitan area ( Paris ). In other cases, metropolitan areas contain multiple centers of equal or close to equal importance, especially in the United States; for example, the Dallas–Fort Worth metropolitan area has eight principal cities. The Islamabad–Rawalpindi metropolitan area in Pakistan, the Rhine-Ruhr in Germany, and the Randstad in The Netherlands are other examples. In

2210-1245: The Pasig Regional Trial Court. The May 29 National Association of Electricity Consumers for Reform (Nasecore) complaint accused Meralco of "illegally declaring as income ₱889 million in consumers' money, which represents interest from meter and bill deposits consumers had been paying since 1995." No bail was recommended for all the accused, 2006 officers of Meralco, to wit: Meralco chairman and CEO Manuel Lopez, executive vice president and chief financial officer Daniel Tagaza, first Vice-resident and treasurer Rafael Andrada, vice president and corporate auditor and compliance officer Helen De Guzman, vice president and assistant comptroller Antonio Valera, and senior assistant vice president and assistant treasurer Manolo Fernando; 2006 Meralco directors Arthur Defensor Jr., Gregory Domingo, Octavio Victor Espiritu, Christian Monsod, Federico Puno, Washington Sycip, Emilio Vicens, Francisco Viray and former Prime Minister Cesar Virata . Nasecore's complaint accusing Meralco of "illegally declaring as income 889 million pesos in consumers' money, which represents interest from meter and bill deposits consumers had been paying since 1995,"

2295-594: The United States , the concept of metropolitan statistical areas has gained prominence. The area of the Greater Washington metropolitan area is an example of statistically grouping independent cities and county areas from various states to form a larger city because of proximity, history and recent urban convergence. Metropolitan areas may themselves be part of a greater megalopolis . For urban centres located outside metropolitan areas that generate

2380-635: The exurbs that form Mega Manila . The name "Meralco" is an acronym for Manila Electric Railroad and Light Company , which was the company's official name until 1919. Organized in 1891 and beginning operations in late 1900, La Electricista was the first electric company to provide electricity to Manila towards the close of the Spanish era . La Electricista had built a central power plant on Calle San Sebastian (now Hidalgo Street ) in Quiapo, Manila . On January 17, 1895, its streetlights were turned on for

2465-777: The Bio Bio Region, with a population of about a million people living in it. Smaller "metropolitan" areas are known as conurbations. Conurbaciones tend to have a bit over 200.000 inhabitants to be considered as such. An example is the Conurbacion de Rancagua, which considers the area shared by the city of Rancagua, and the adjacent smaller towns of Machalí, Gultro and Graneros. Metropolitan areas are known as zonas metropolitanas in Mexico. The National Population Council (CONAPO) defines them as: As of 2018, there are 74 zonas metropolitanas in Mexico. 75.1 million people, 62.8% of

2550-573: The Cultivation and Development of Modern Metropolitan Areas ( 关于培育发展现代化都市圈的指导意见 ) on Feb 19, 2019, in which a metropolitan area was defined as "an urbanized spatial form in a megalopolis dominated by (a) supercity(-ies) or megacity(-ies), or a large metropolis playing a leading part, and within the basic range of 1-hour commute area." In India , a metropolitan city is defined as one with a population more than four million. In policing jurisdiction, state governments can declare any city or town with

2635-672: The ERC prescribed schedule and has allocated enough funds for the said refund. Meralco is also involved in the GSIS-Meralco bribery case . On October 6, 2008, the Pasig Regional Trial Court Branch 71 dismissed the syndicated estafa case filed against the Meralco board of directors, for the prosecution failed to establish all the elements of syndicated estafa . Presiding Judge Franco Falcon, pointed out in

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2720-515: The Greater Johannesburg metropolitan area houses roughly ten times the population of its core municipal city of Johannesburg , which contained 957,441 people as of the 2011 census. The IBGE defines also "Immediate Geographic Areas" (formerly termed microregions ) which capture the region "surrounding urban centers for the supply of immediate needs of the population". Intended for policy planning purposes, as of March 2021 census data

2805-664: The López Family, and the need to amend the Electric Power Industry Reform Act (EPIRA) of 2001. Oscar López said that if the GSIS would buy the Meralco shares, they must buy in whole cash, while many businessmen also said that taking over Meralco is not the way to reduce electrical price, which depends on the national government and the President. The issue was also seen as a purposeful diversion from

2890-861: The MakTrade system. The system was acquired from the New York Stock Exchange . On June 22, 2015, the PSE launch its new trading system, the PSEtrade XTS, which will replace the PSEtrade system acquired from the New York Stock Exchange . The new trading system will be acquired from the NASDAQ In 2016, The Marquee Awards of Alpha Southeast Asia magazine recognized PSE as the Best Stock Market in Southeast Asia for

2975-700: The Makati Stock Exchange (MkSE) (established on May 15, 1963, based in the Makati Central Business District , within Ayala Tower One ). Both exchanges traded the same stocks of the same companies. In June 1998, the Securities and Exchange Commission (SEC) granted the PSE a "Self-Regulatory Organization" (SRO) status, which meant that the bourse can implement its own rules and establish penalties on erring trading participants (TPs) and listed companies. In 2001,

3060-541: The Manila Electric Company. March 24 thus is marked annually as the company's anniversary. The Manila Electric Company acquired both La Electricista and the Compañía de los Tranvías de Filipinas , a firm that ran Manila's horse-drawn tramways which was founded in 1882. Construction on the railed tramway began that same year. In addition to acquiring La Electricista's Calle San Sebastian power plant,

3145-535: The Metro Manila plants that MERALCO had built beforehand in the 1960s. By the end of the Martial Law period in 1981, MERALCO expanded even further into Cavite and western parts of Laguna, Rizal and Quezon provinces, as well as parts of southern Bulacan. Meralco Foundation's control of MERALCO lasted until the People Power Revolution in 1986 when it defaulted on its payments under the terms of

3230-619: The New Supersonic Industrial Corp. in Valenzuela , shut off the electricity in the factory and Yu's residence. The Court of Appeals later ruled that Meralco violated the law when it cut off the electric supply of a consumer without notice; the decision later upheld by the Supreme Court in late June 2023, with Yu being entitled to ₱150,000 in damages. The court said that a written notice must be given to

3315-792: The PSE under the First Board, Second Board or the Small and Medium Enterprises Board based on market capitalization . As of March 28, 2022, the Philippine Stock Exchange has 281 listed companies with a total market capitalization of Php18.25 trillion. There are 126 active trading participants registered at the PSE. The PSE also offers Exchange Traded Funds through the First Metro Philippine Equity Exchange Traded Fund, Inc., and also has various REIT companies listed in

3400-556: The PSE was transformed from a non-profit, non-stock, member-governed organization into a shareholder-based, revenue-earning corporation headed by a president and a board of directors and on December 15, 2003, listed its own shares on the exchange (traded under the ticker symbol PSE ). On March 28, 2022, The Philippine Stock Exchange launched the PSE Thematic Index Series, with two new indices, namely PSE Dividend Yield Index, and PSE MidCap Index. On January 4, 1993,

3485-528: The Philippine Stock Exchange permanently closed its trading floor in Bonifacio Global City on Friday, June 24, 2022; it would start floor-less trading the following Monday, June 27, 2022. PSE made the decision following the COVID-19 lockdowns in 2020 and 2021; according to the organization, the pandemic and the lockdowns proved that off-site transactions can be made, thus making the existence of

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3570-515: The Philippine's first hydroelectric power plant, the 23MW Botocan Hydro Station. At the time, this plant was one of the largest engineering projects in Asia and constituted the largest single private capital investment in the Philippines. The additional capacity allowed the company to begin hooking up customers throughout the metropolitan area . To drive demand for more power, MERALCO also opened

3655-690: The Philippines for Architecture José María Zaragoza , was built during this period. The Meralco Theater within it was inaugurated shortly thereafter, in March 1969. In September 1972, President Ferdinand Marcos , who had begun feuding with the Lopezes, declared Martial Law , acquiring and consolidating power and effectively extending his beyond the constitutional term limit which would have forced him to step down in 1973. A few weeks later in November 1972, he issued Presidential Decree № 40, which nationalized

3740-511: The U.S. and seven for Puerto Rico) and 541 Micropolitan Statistical Areas (μSAs – 536 for the U.S. and five for Puerto Rico). The 169 Combined Statistical Areas (166 for the U.S. and three for Puerto Rico) each comprise two or more adjacent Core Based Statistical Areas. The Office of Management and Budget defines a Metropolitan Statistical Area as one or more adjacent counties or county equivalents that have at least one urban area of at least 50,000 population, plus adjacent territory that has

3825-520: The adjacent provinces of Bulacan , Rizal , Laguna , and Cavite known as Greater Manila Area . The number of metropolitan areas in the Philippines was reduced from 13 in 2007 to the current three based from the 2017–2022 Philippine Development Plan by NEDA. The other 10 metropolitan areas were Metro Angeles , Metro Bacolod , Metro Baguio , Metro Batangas , Metro Cagayan de Oro , Metro Dagupan , Metro Iloilo–Guimaras , Metro Butuan , Metro Naga , and Metro Olongapo . Dubai - Sharjah - Ajman (DSA)

3910-690: The center by employment or other commerce. These outlying zones are sometimes known as a commuter belt and may extend well beyond the urban zone to other political entities. For example, East Hampton, New York , on Long Island is considered part of the New York metropolitan area . In 2020, the European Commission , the Food and Agriculture Organization , the United Nations Human Settlements Programme ,

3995-583: The central municipality governing local services in a province with more than 750.000 residents in Turkey , like Istanbul and its metropolitan municipality, the Istanbul Metropolitan Municipality . There are 30 officially defined "metropolitan municipalities" in Turkey. This classification, however, is only used for administrative purposes, and sometimes contradicts the colloquial use of the term "metro area". As an example, Gebze,

4080-481: The city. In practice, the parameters of metropolitan areas, in both official and unofficial usage, are not consistent. Sometimes they are little different from an urban area, and in other cases, they cover broad regions that have little relation to a single urban settlement; comparative statistics for metropolitan areas should take this into account. The term metropolitan can also refer to a county -level municipal government structure, with some shared services between

4165-686: The company built its own turbine rotated by water steam generating electricity plant on Isla Provisora (later becoming the Manila Thermal Power Plant ), which lighted the railed tram system and eventually also provided the electric service. By 1906, the Manila Suburb Railway were founded and later merged with the Manila Electric Company. Forming the Manila Electric, Railway and Lighting Company. The name Manila Electricity, Lighting and Railroad Company (MELARCo)

4250-442: The company's power capacity had grown to 45 million kWh. In 1925, MERALCO was acquired by the utility holding company Associated Gas and Electric , which had begun a massive expansion throughout the United States and Canada . With AGECO's financial backing, MERALCO began acquiring a number of existing utility companies in the Philippines, enabling the company to expand beyond Manila. By 1930, MERALCO had completed construction of

4335-418: The company, but other areas, mostly rural municipalities, are served by electric cooperatives. In Batangas, only Santo Tomas , the First Philippine Industrial Park and First Industrial Township SEZ both in Tanauan , Batangas City , San Pascual and parts of Laurel (Barangays of Niyugan and Dayap Itaas) and Calaca (parts of Barangay Cahil) which facing Tagaytay–Nasugbu Highway are served by Meralco, and

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4420-406: The consumer at least 48 hours prior to Meralco's disconnection of its electric service on grounds cited under Section 4(a) of Republic Act No. 7832 ; in that case, a consumer's right to due process was violated. Spokesperson Joe Zaldarriaga, in a statement, said that Meralco will respect and abide by the said decision; however, he said that the incident occurred when Meralco was already implementing

4505-406: The core, measured by commuting patterns. There are three metropolitan areas in Chile, the biggest and most important one is the Gran Santiago in the Santiago Metropolitan Region, with over 7 million inhabitants, making it the largest and most populated urban area in Chile. The other two metro areas are Gran Valparaiso in the Valparaiso Region with almost a million inhabitants, and Gran Concepción in

4590-480: The country population, live within a metropolitan area. As of February 28, 2013, the United States Office of Management and Budget (OMB) defined 1,098 statistical areas for the metropolitan areas of the United States and Puerto Rico . These 1,098 statistical areas comprise 929 Core-Based Statistical Areas (CBSAs) and 169 Combined Statistical Areas (CSAs). The 929 Core-Based Statistical Areas are divided into 388 Metropolitan Statistical Areas (MSAs – 381 for

4675-503: The country's electric generation and transmission. A few more weeks after that, Marcos had Lopez' son and namesake, Eugenio "Geny" Lopez, Jr. arrested without formal charges, claiming that the younger Lopez had been involved in an alleged assassination attempt against him. Geny's arrest became a bargaining chip which eventually compelled the Lopezes to sell their controlling share of Meralco Securities Corporation to Marcos' associates late in 1973. Ownership of Meralco Securities Corporation

4760-436: The country. For urban centers outside metropolitan areas, that generate a similar attraction at smaller scale for their region, the concept of the Regiopolis and respectively regiopolitan area or region was introduced by German professors in 2006. In 2001 Italy transformed 14 provinces of some of the country's largest cities into Metropolitan Cities . Therefore, the territory of the Metropolitan City corresponds to that of

4845-424: The country. Currently, there are 10 metropolitan cities in Indonesia that have been recognized by the government. https://en.wikipedia.org/wiki/Category:Metropolitan_areas_of_Malaysia Pakistan has nine metropolitan areas with populations greater than a million. Five of these are entirely in Punjab including Lahore , Faisalabad , Gujranwala , Multan ; one ( Islamabad-Rawalpindi is split between Punjab and

4930-578: The electric facilities and other assets of the Communications and Electric Development Authority, one of two companies that distributed power in Cavite Province for much of the 1970s and 80s. Between 2009 and 2012, the López Group would reduce its 33.4% holdings in MERALCO by selling most of its shares to the First Pacific Group . By 2012, the López Group's holdings in MERALCO would be reduced to 3.95%. The First Pacific Group, through Beacon Electric Asset Holdings Inc. and Metro Pacific Investment Corporation , currently holds 45.46% share in MERALCO, followed by

5015-507: The exchange's property index. Metropolitan area Metropolitan areas in the United States are delineated around the core of a core based statistical area which is defined as an urban area , (this is different than the urban core ) and consists of central and outlying counties, as the terms central city and suburb are no longer used by the census bureau due to suburbanization of employment. In other countries metropolitan areas are sometimes anchored by one central city such as

5100-426: The first time and by 1903, it had about 3,000 electric light customers. On October 20, 1902, during the American Colonial Period, the Second Philippine Commission began accepting bids to operate Manila's electric company, and by extension, providing public lighting to the city and its suburbs. Detroit entrepreneur Charles M. Swift was the sole bidder and on March 24, 1903, was granted the original basic franchise of

5185-420: The former Manila Stock Exchange started the computerization of its operations using the Stratus Trading System (STS) with a company called Equicom. On June 15, the former Makati Stock Exchange adopted the MakTrade trading system. Both systems were linked on March 25, 1994, to produce a One Price-One Market exchange. Two years later, on November 13, 1995, the implementation of the Unified Trading System (UTS) allowed

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5270-1026: The functional extent of a city as it contains the majority of the commuting population. GCCSAs replaced "Statistical Divisions" used until 2011. Other metropolitan areas in Australia include cross border cities or continuous built-up areas between two or more cities that are connected by an extensive public transport network that allows for commuting for work or services. In Bangladesh , the large population centres which have significant financial, political and administrative importance are considered to be as Metropolitan cities, which are governed by City Corporations . In total, there are 12 city corporations in Bangladesh. 4 of them ( Dhaka North City Corporation , Dhaka South City Corporation , Narayanganj City Corporation , Gazipur City Corporation ) are part of Dhaka Metropolitan Area . In China , there used to be no clear distinction between megalopolis ( 城市群 , lit. city cluster) and metropolitan area ( 都市圈 ) until National Development and Reform Commission issued Guidelines on

5355-405: The high power rates. Meralco also blames high power generation costs, high transmission costs and government taxes imposed on the electricity sector from power generation to distribution. Government Service Insurance System (GSIS) President Winston García, however, blamed Meralco's inefficiency, its "bloated bureaucracy" and its sourcing of power from independent power producers (IPPs) also owned by

5440-456: The highest record close. However, on December 12, 2012, almost ten months after, it neared the 5,800 mark closing in 6,000 near the end of the year. On January 7, 2013, the PSE Composite gets to all-time record at 6,000 mark. In March it again broke another record by ending the trading day at 6,847.47 after Fitch Group upgraded the Philippines for the first time to investment grade status . On May 10, 2013, it achieved its 29th record close for

5525-407: The merger of the Manila Stock Exchange and the Makati Stock Exchange . Including previous forms, the exchange has been in operation since 1927. The PSE's headquarters is located at the Philippine Stock Exchange Tower , located along the One Bonifacio High Street complex in Bonifacio Global City . The Philippine Stock Exchange is currently owned and managed by The Philippine Stock Exchange, Inc.,

5610-426: The new headquarters of the PSEi, located in One Bonifacio High Street, Bonifacio Global City , replacing the two trading floors in Metro Manila : one at its headquarters at the PSE Plaza Ayala Triangle, Ayala Tower One in the Makati Central Business District (Makati Stock Exchange); and one at the Philippine Stock Exchange Centre (Tektite Towers), Ortigas Center in Pasig (Manila Stock Exchange). However,

5695-419: The original turnover of shares in 1973, although it took a five year period before the shares were eventually reverted to the Lopezes in 1991. President Corazon Aquino reverted company ownership to the López Group . She also enacted an executive order that allowed the company to directly compete with Napocor. On March 18, 1989, MERALCO unveiled its new and current corporate logo. In 1990, MERALCO acquired

5780-406: The rest of the province are franchise areas of electric cooperatives. In Pampanga , some barangays in Candaba are served by the company. Philippine Stock Exchange PSE Dividend Yield Index The Philippine Stock Exchange, Inc. ( Filipino : Pamilihang Sapi ng Pilipinas ; PSE :  PSE ) is the national stock exchange of the Philippines . The exchange was created in 1992 from

5865-503: The ruling that the board is not the kind described by the law as being formed to perpetrate an illegal act for the board of directors were elected by stockholders. The court explained, "Therefore, the accused can never be charged of taking part in the commission of syndicated estafa not only because they are not part of a syndicate as contemplated by law in PD 1689, but more so, because there was absolutely no estafa committed." According to Philippine law, to constitute syndicated estafa ,

5950-458: The subject money or property must be received by the offenders. The money represents the accrued interests on the bill and meter deposits, which were paid by Meralco customers, not directly to the board, but to the various Meralco business centers where the customers transacted. Meralco expressed elation over the dismissal. A complaint was filed by Lucy Yu against Meralco which, on December 9, 1999, its representatives, forcibly entering her office at

6035-405: The term "metropolitan statistical area", the term used colloquially is more often "metro service area", "metro area", or "MSA", taken to include not only a city but also the surrounding suburban, exurban and sometimes rural areas, all of which the city is presumed to influence. A polycentric metropolitan area contains multiple urban agglomerations not connected by continuous development. In defining

6120-447: The then-ongoing ZTE NBN scandal and other government issues. A perceived lack of general understanding regarding the issue of system loss, inherent in the business of utilities prompted Meralco's former holding company, First Philippine Holdings, to issue advertisements explaining systems loss. The Department of Justice (Philippines) filed syndicated ( fraud ) charges against Meralco in its August 22, 2008 31-page resolution, filed with

6205-427: The trade guaranty fund. In 2005, the PSE adopted an online daily disclosure system (ODiSy) to improve the transparency of listed companies and ensure full, fair, timely and accurate disclosure of material information from all listed companies. The ODiSy provides a 24/7 online system access for the submission of all types of disclosures. On July 26, 2010, the PSE launched its new trading system, PSEtrade, which replaced

6290-522: The trading day at 8,127.48 On January 26, 2018, PSEi breached through 9000 for the first time, ending at 9,041.20, up by 42.03 points, or 0.47%. Trading on the PSE pre-opens at 9:00 A.M.; opens at 9:30 A.M.; is in recess between 12:00 and 1:30 P.M.; pre-closes at 3:15 P.M.; in run-off from 3:20 P.M.; and closes at 3:30 P.M. The unified trading floor 's final location was the Philippine Stock Exchange Tower (PSE Tower) ,

6375-400: The urban center by commuting. The Australian Bureau of Statistics uses Greater Capital City Statistical Areas (GCCSAs), which are geographical areas designed to represent the functional extent of each of the eight state and territory capital cities. They were designed to reflect labor markets, using the 2011 Census "travel to work" data. Labor markets are sometimes used as proxy measures of

6460-548: The use of a single-order-book system on a MakTrade software where all the orders are posted and matched in one computer. They have nearly 10,000 employees. In October 2004, the Securities Clearing Corporation of the Philippines (SCCP), a clearing and settlement agency for depository eligible trades, became a wholly owned subsidiary of the PSE. The SCCP acts as the settlement coordinator and risk manager for broker transactions as well as administrator of

6545-939: The use of the 2.4 GHz band in the Philippines illegal, in spite of the International Telecommunication Union declaring the 2.4 GHz band as an ISM unlicensed band. On September 12, 2003, the NTC issued Memorandum Circular No. 09-09-2003, which lifted the ban on the 2.4 GHz band. Meralco serves Metro Manila , where it is the sole electricity distributor, as well as some nearby provinces, like Bulacan , Cavite , Laguna , Batangas , Rizal , Quezon . Bulacan , Cavite , and Rizal are solely served by Meralco, but on some provinces, it only serves some parts, like in Laguna, Batangas, and Quezon, where most or some areas are served by electric cooperatives . In Laguna and Quezon, most part of those provinces are served by

6630-465: The year 2015. The Alpha Southeast Asia, Named PSE Again as the Best Stock Market in Southeast Asia in 2017, for 4 Times in 5 Years. In 2019, The PSE has introduced a new index that will help track the overall returns of the main index, The Total Return Index (PSEi TRI), as part of the efforts to create a broader investor base for the market. On March 2, 2012, the PSE Composite hits 5,000 mark

6715-513: The year closing at 7,262.38, surpassing the previous record of 7,215.35 on May 3. On May 15, 2013, the PSEi hit its 30th all-time high of 7403.65 and ending the day at 7,392.2. However, the tapering by the Federal Reserves in the United States caused the PSEi to end at 5,889.83. On April 6, 2015, the PSE Composite the 8,000 mark and closes on another record by ending the trading day at 8,053.74. In 4 days it broke another record by ending

6800-498: Was also considered. Swift was awarded another franchise in 1906 to operate a 9.8 kilometres (6.1 mi) extension line from Paco to Fort McKinley and Pasig and founded the Manila Suburban Railway to operate this franchise. In 1919 this company merged with the Manila Electric Company. This extension was one of the most profitable of MERALCO's lines. By the 1920, MERALCO invested on transportation and owned

6885-554: Was defined differently than the AAV, has now been discarded by INSEE and replaced with the AAV in order to facilitate international comparisons. Metropolitan regions in Germany by definition, are the eleven urban areas that are the most densely populated areas in the Federal Republic of Germany . They comprise the major German cities and their surrounding catchment areas and form the political, commercial and cultural centers of

6970-504: Was immediately refuted by the accused company as the alleged ₱889 million only stemmed from a generally accepted accounting principle of reversing Meralco's earlier provision for meter deposit interests which, earlier set at 10% per annum was deemed too high and was set to the recommended 6%. Meralco also questioned how a syndicated estafa case can arise when it has already announced and committed that it will be refunding to customers who paid meter deposit principals plus interest months ahead of

7055-584: Was over 9.6 million as of the 2011 South Africa Census, in contrast to its urban area, which consisted of approximately 7.9 million inhabitants as of 2011. Conversely, metropolitan municipalities in South Africa are defined as commonly governed areas of a metropolitan area. The largest such metropolitan municipal government entity in South Africa is the City of Johannesburg Metropolitan Municipality , which presided over nearly 5 million people as of 2016. However,

7140-548: Was placed under a newly created shell company called the Meralco Foundation, Inc. , controlled by Marcos' brother-in-law Benjamin Romualdez , which made a downpayment of about $ 1,500 for a "very minimal" total sale price of about $ 28 million (200 million pesos at the prevailing rate). Installment payments were supposed to be due starting two years later. The Meralco Foundation takeover was immediately followed by

7225-575: Was sold to Halili Transport. In 1962, Eugenio López, Sr. of the influential López family of Iloilo put together Meralco Securities Corporation (MSC), which acquired MERALCO, making it wholly Filipino-owned. During 1962-72, he increased MERALCO's power generating capacity by five times with the building of additional power stations in the Manila area with two more planned in Rizal Province . The Meralco Building, designed by National Artist of

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