Top 7 thrift banks continue to dominate
Philstar - 2016-05-31
BPI Family Savings Bank, the Philippine Savings Bank (PSBank) and RCBC Savings Bank (RSB) defended their top three spots, but the next four have recorded huge leaps based on the five-year compounded average growth rate (CAGR). The next four dominant thrift ...

LP eyes coalition to ensure Drilon will keep senate presidency
Philippine Daily Inquirer - 2016-05-31
"We have a solid group here," the Senate leader said. Asked if the LP would then coalesce with other groups to get the majority in the chamber, Drilon said: "Why do we have to coalesce? We are a group of seven, we can add six, we can ...

San Miguel says it barely made money from telco divestment
Rappler - 2016-05-31
Vega owns an 87% stake in Liberty Telecom Holdings Incorporated, the unit formed by San Miguel. Vega also owns direct and indirect stakes in companies including Bell Telecommunication Philippines Incorporated, Eastern Telecom Philippines Incorporated ...

San Miguel says it barely made money from telco divestment
Rappler - 2016-05-31
MANILA, Philippines - San Miguel Corporation barely made money from its decision to sell telecommunication assets to Philippine Long Distance Telephone Company (PLDT) and Globe Telecom, Incorporated. San Miguel president and chief operating officer Ramon S.

RCBC names new officials after bank heist probe
Rappler - 2016-05-31
MANILA, Philippines - Rizal Commercial Banking Corporation (RCBC) is filling up key management positions, as it moves on from the $81-million bank heist involving the funds owned by the Bangladesh central bank last February. Maria Christina Alvarez ...

PSEi down anew on lack of leads
interaksyon.com - 2016-05-31
The benchmark Philippine Stock Exchange index (PSEi) declined 62.74 points ... asset sale and Philippine Long Distance Telephone Company-Globe Telecom Inc. buy-in in the "absence of other leads at the corporate front." All counters finished in negative ...

PSE proposes PPP listing rules
Manila Bulletin - 2016-05-31
The Philippine Stock Exchange, Inc. (PSE) is opening the equities market to support infrastructure growth in the country with the release of its draft Public Private Partnership (PPP) Supplemental Listing and Disclosure Rules. In a statement, the PSE said ...

Five young researchers in NorMin win BPI-DOST Science awards
news.pia.gov.ph - 2016-05-31
University of Santo Tomas, and Xavier University. DOST, in partnership with the BPI Foundation, set up the Science Awards to inspire, recognize, and support the most outstanding young scientists and innovators from across the Philippines. Three exceptional ...

The wRap
Rappler - 2016-05-31
PLDT Chairman Manny Pangilinan says SMC wanted to divest from the telco business while the telco giants were keen on acquiring it. The deal gives the two telcos access to more radio frequencies but also involve returning frequencies to the government that ...

Buyout Boom: Not just a slice, Private Equity funds now want more or even the whole pie
Economic Times - 2016-05-31
Its $1.2 billion offer -- valued at about 2.2 times Alliance ... company fully. Interestingly this also has had a positive rub off on professional managers as well who are also seeking to break out of traditional safety nets to get a direct shot at equity ...

Pump prices up today
MSN - 2016-05-31
Petron Corp. has yet to issue an advisory but is expected to make a similar increase in the price of its fuel products. In separate advisories, Eastern Petroleum, Phoenix Petroleum Philippines and PTT Philippines raised gasoline prices by 35 centavos per ...

Top 7 thrift banks continue to dominate
MSN - 2016-05-31
BPI Family Savings Bank, the Philippine Savings Bank (PSBank) and RCBC Savings Bank (RSB) defended their top three spots, but the next four have recorded huge leaps based on the five-year compounded average growth rate (CAGR). The next four dominant thrift ...

Maynilad allots P42-billion capex through 2018
MSN - 2016-05-31
Ramoncito S. Fernandez, Maynilad president and chief executive officer, said in a statement that with the capital expenditure (capex) for 2016 to 2018, "we hope to ramp up our massive investments by accelerating the completion of new projects so we can ...

Hope of tax hike delay lifts Japan stocks
MSN - 2016-05-31
At the end of Monday's trading session, 195 stocks had closed higher, while 23 stocks finished lower. Technology stocks, including Panasonic, Sony and Sharp, were all in positive territory, as well as banking stocks. As for consumer-related shares ...

Filipino children call for end to violence
news.pia.gov.ph - 2016-05-31
The PNCC is a biennial event which serves as the venue for children to discuss the issue and concerns that they are facing. It was composed of participants from different sectors which include Children with Disability (CWD) and Indigenous People (IP).

San Miguel's sale of telco business: Will consumers benefit?
Rappler - 2016-05-31
MANILA, Philippines - San Miguel Corporation's (SMC) move to dispose all its telecommunications assets to the Philippine Long Distance Telephone Company (PLDT) and Globe Telecom, Incorporated is not your typical corporate deal. The 3 companies are all ...

San Miguel fetches P70b for telco assets
thestandard.com.ph - 2016-05-30
San Miguel Corp. fetched P70 billion for its telecommunication assets which it sold to the duopoly of Philippine Long Distance Telephone Co. and Globe Telecom Inc. PLDT and Globe said Monday they jointly acquired 100-percent equity interest in San Miguel ...

PLDT sells 25% stake in Meralco
thestandard.com.ph - 2016-05-30
PLDT Communications and Energy Ventures Inc. and Metro Pacific Investments Corp. on Monday signed a sales purchase agreement for the latter to acquire a further 25 percent stake in Beacon for P26.2 billion. Beacon owns 35 percent of Manila Electric Co. and ...

Alliance Select to hike UK sales
thestandard.com.ph - 2016-05-30
Alliance Select Foods Inc. plans to sell more tuna products to the United Kingdom to further expand its presence in the European Union. Alliance Select said in a statement with the Philippines obtaining a GSP+ (generalized system of preferences plus ...

Market climbs; PLDT, Globe Telecom advance
thestandard.com.ph - 2016-05-30
led by PLDT and Globel Telecom Inc., after San Miguel Corp. agreed to a $1.5-billion deal to sell its telecommunication assets. The Philippine Stock Exchange Index rose 52.66 points, or 0.7 percent, to 7,464.34 on a value turnover of P15.4 billion.

First full-service hospital of ALI opens in Bulacan
Inquirer - 2016-05-30
Iloilo City. Upcoming facilities include QualiMed Hospital in Sta. Rosa, Laguna (opening in first quarter of 2017); QualiMed Clinic in Cebu IT Park, Cebu City (opening in third quarter of 2016), and QualiMed Clinic in Bonifacio Global City, Taguig (opening ...

8990 Holdings unveils new residential project in Cebu
Inquirer - 2016-05-30
Mass housing developer 8990 Holdings has unveiled a new medium-rise residential development project in Cebu, targeting the working class in the city of Mandaue. The project--Urban DECA homes (UDH) Hernan Cortes--is the fourth project to be launched by ...

Fuel prices up anew
Philippine Daily Inquirer - 2016-05-30
Phoenix Petroleum, PTT Philippines, Eastern Petroleum and Unioil increased gasoline prices by 35 centavos per liter and diesel by 40 centavos per liter. These firms do not sell kerosene.

BDO declares cash dividends of P1.09b
thestandard.com.ph - 2016-05-30
Union Bank, P54.677 billion; Chinabank, P54.136 billion; Security Bank, P53.161 billion; and Development Bank of the Philippines, P37.661 billion. BDO had total deposits of P1.601 trillion last year, followed by Metrobank at the second spot with P1.106 ...

Alliance Select to hike UK sales
Manila Standard Today - 2016-05-30
Alliance Select Foods Inc. plans to sell more tuna products to the United Kingdom to further expand its presence in the European Union. Alliance Select said in a statement with the Philippines obtaining a GSP+ (generalized system of preferences plus ...

Filipino children call for end to violence
news.pia.gov.ph - 2016-05-30
The PNCC is a biennial event which serves as the venue for children to discuss the issue and concerns that they are facing. It was composed of participants from different sectors which include Children with Disability (CWD) and Indigenous People (IP).

8990 spending P573 M for housing project in Cebu
Manila Bulletin - 2016-05-30
Top local mass housing developer 8990 Holdings, Inc. has launched the P573 million Urban DECA homes (UDH) Hernan Cortes, its fourth project this year and the third medium rise building (MRB) of 8990 in Cebu. Total reservations on the launch were 65 units ...

Calamity damage to energy facilities hikes insurance cost
Manila Bulletin - 2016-05-30
This was indicated by First Gen Corporation chairman Federico R. Lopez; while noting the clobbering climate-related events that struck their facilities in over a decade - with the worst ones just occurring in the last five years. "Over the last 15 ...

MPIC pays P26.2B to PLDT for additional Meralco shares
Manila Bulletin - 2016-05-30
Metro Pacific Investments Corporation has acquired a further 25 percent interest in Beacon Electric Asset Holdings from PLDT Communications and Energy Ventures, Inc. for P26.2 billion. The deal is seen to help PCEV parent company Philippine Long Distance ...

Sarangani plant to boost Alsons income
Manila Bulletin - 2016-05-30
The 105-megawatt Sarangani coal-fed plant of the Alcantara group will shore up its profitability by about R160 million this year, company executives have indicated. According to Alsons Consolidated Resources, Inc. (ACR) chief financial officer Luis R.

Sarangani plant to boost Alsons income
Manila Bulletin - 2016-05-30
The 105-megawatt Sarangani coal-fed plant of the Alcantara group will shore up its profitability by about R160 million this year, company executives have indicated. According to Alsons Consolidated Resources, Inc. (ACR) chief financial officer Luis R.

Robredo can be antipoverty czar
BusinessMirror. - 2016-05-30
According to MPIC Chairman Manuel V. Pangilinan, the partnership "is part of our drive to accelerate the pace of overall participation in the power-generation sector, while allowing Meralco to focus predominantly on the development of its "One Meralco ...

Globe to spend $500 million over five years for data network expansion
interaksyon.com - 2016-05-30
MANILA, Philippines -- Globe Telecom will invest $500 million over a five-year period starting this year to beef up its data network, the Ayala-led telecom said today in a press statement. "A growing number of enterprises today use software applications ...

Philippine Pavilion opens in Venice Architecture Biennale
Inquirer Lifestyle - 2016-05-30
It is one of the top 30 must-see events and exhibitions of the Biennale as mentioned in Wallpaper, a Time Inc. publication ... for Makati Stock Exchange; and MaƱosa & Co. for Tahanang Pilipino or Coconut Palace. The Philippine Pavilion is open to the ...

Big Stars in 7th Star Magic Games
thestandard.com.ph - 2016-05-30
For the second year in a row, the Star Magic Games carried the title Sun vs. Stars title in lieu of its retained partnership with Sun Life Financial Financial. #SunVsStar. Daniel Padilla (third from left) flanked by Hashtags members Elmo Magalona ...

Celebrating all things French
Manila Bulletin - 2016-05-30
Turning 21 next month, the French Film Festival continues to offer an array of diverse films for Filipinos to discover and appreciate. A total of 17 contemporary French films will be screened this time, most of which were released from 2013 to 2016. These ...

Metro Pacific buys additional 25% interest in Beacon from PLDT
Rappler - 2016-05-30
MANILA, Philippines - The board of Metro Pacific Investments Corporation (MPIC) on Monday, May 30, agreed to buy another 25% interest in Beacon Electric Asset Holdings from PLDT Communications and Energy Ventures, Incorporated for P26.2 billion.

COCKTALES | Malacanang proceeds with spruce-up despite Duterte's declarations
interaksyon.com - 2016-05-30
o The Securities and Exchange Commission has reminded Chairman Juan Santos of the Social Security System that he has yet to submit his government clearance since his 2014 appointment as independent director of the House of Investments. Santos, who is also ...

8990 Holdings: Housing the Filipino People
BusinessMirror. - 2016-05-30
THE financial crisis in 1997 and 1998 brought down many companies, among them property developers. Some of those that survive then became busy keeping themselves afloat. Atencio Many of these firms, some noted for developing mass housing, decided to go up ...

MPIC hikes stakes in Meralco, Global Power
interaksyon.com - 2016-05-30
MANILA - Metro Pacific Investments Corp. (MPIC) has increased its interest ... interest in Beacon Electric Asset Holdings, which owns 35 percent of Meralco and 56 percent of Global Power. MPIC now holds a 75-percent interest in Beacon Electric while ...

105-bed QualiMed hospital opens in Bulacan
Inquirer - 2016-05-30
THE AYALA Land Inc. (ALI)-Mercardo consortium unveiled on Monday a 105-bed general hospital at Altaraza Town Center in San Jose Del Monte, Bulacan, the first brand-new full-service hospital under the QualiMed healthcare network to be built in Luzon.

MPIC buys another 25% in Beacon Electric for P26.2B
Manila Bulletin - 2016-05-30
Infrastructure firm Metro Pacific Investments Corp. (MPIC) has agreed to acquire an additional 25% interest in Beacon Electric Asset Holdings Inc. for P26.2 billion ($563 million) from PLDT Communications and Energy Ventures Inc. (PCEV), a subsidiary ...

San Miguel selling telco assets to PLDT, Globe Telecom
Rappler - 2016-05-30
This is a developing story. Please refresh this page for updates. MANILA, Philippines - San Miguel Corporation (SMC) is selling its telecommunication assets to PLDT and Globe Telecom, the company said Monday, May 30. PLDT and Globe will each acquire half ...

Panasonic likely to achieve over 30% sales growth in 2016
BusinessMirror. - 2016-05-30
JAPANESE electronic technologies and solutions provider Panasonic is bullish on meeting its 2016 sales-growth target in the Philippines, mainly due to improved consumer products performance and unique advertising and marketing initiatives. "Last year our ...

DOF told: Hold payment of P82-B claims to water firms
MSN - 2016-05-29
... in abeyance its payment of over P82 billion in compensation to water concessionaires Maynilad Water Services and Manila Water Co. Inc., according to the Department of Justice (DOJ). In a five-page letter to Finance Secretary Cesar Purisima, the DOJ ...

PSE defers consumer index launching
thestandard.com.ph - 2016-05-29
Among the consumer or consumer-related stocks listed with the PSE are Universal Robina Corp., Maxs Group Inc., Jollibee Foods Corp., Puregold Price Club Inc., Robinsons Retail Holdings Inc., Pepsi Cola Products Philippines Inc., Century Pacific Food Inc ...

SMC sells telco assets to PLDT, Globe
Inquirer - 2016-05-29
INDUSTRY giants Philippine Long Distance Telephone Co. (PLDT) and Globe Telecom will jointly buy out the telecommunications assets of conglomerate San Miguel Corp. in a deal expected to cement their duopolistic hold on the local market amid the growing ...

BOI-approved investments up 64% in first 4 months of 2016
news.pia.gov.ph - 2016-05-29
MAKATI CITY, May 30 -- Buoyed up by the remarkable investments approved in April 2016, investments approved by the Philippine Board of Investments ... in April include GMR Megawide Cebu Airport Corporation (with P16.75 Billion), a PPP project for the ...

Emirates launches flights between Cebu and Dubai
Inquirer - 2016-05-29
For the first time, Emirate Airlines will embark on a daily two-stop, circular service in the Philippines, briefly stopping over at Clark from Cebu before continuing to Dubai, a gateway to the Middle East and capital of the United Arab Emirates (UAE).

PAL to seek Duterte help in settling row with Kuwait
Inquirer - 2016-05-29
FLAG carrier Philippine Airlines will seek the assistance of the incoming Duterte administration to help settle an air row with Kuwait. PAL president Jaime Bautista said the issue had to do with fifth freedom rights PAL had sought to use between Dubai ...