New York's Plaza Hotel to go on sale next month: Bloomberg
MSN - 2016-03-15
David and Simon Reuben hold the mortgage on the five-star hotel and scheduled a foreclosure auction for April 26, Bloomberg said, citing a source.

New York's Plaza Hotel to go on sale next month: Bloomberg
MSN - 2016-03-15
David and Simon Reuben hold the mortgage on the five-star hotel and scheduled a foreclosure auction for April 26, Bloomberg said, citing a source.

Pure Foods earnings rise 24% to P4.8B
MSN - 2016-03-15
Higher volumes, better selling prices, new products, and improved distribution fueled the growth, San Miguel Pure Foods said. Similarly, the agro-industrial business -- feeds, poultry and Monterey meats -- generated P72.6 billion in revenues or an increase ...

Why the Philippines' Best-Performing Stock Is So 'Unpredictable'
Bloomberg - 2016-03-15
"San Miguel has become very complex and unpredictable in terms of the direction of ... chief investment officer at Union Bank of the Philippines, with about $844 million in assets under management. "The preferred shares is a different story, and ...

First Gen rescinds Avion gas plant deal
thestandard.com.ph - 2016-03-15
Prime Meridian Powergen Corp., a wholly-owned subsidiary of First Gen Corp., on Tuesday terminated the turnkey contract with Istroenergo Group a.s., or IEG, and its Philippine branch Energy Project Completion Ltd. to build the 97-megawatt Avion open-cycle ...

Republic opens new factory in Bulacan
thestandard.com.ph - 2016-03-15
Republic Cement, a cement manufacturer owned by Aboitiz Equity Ventures and CRH Plc. of Ireland, said Tuesday it opened a new cement finish mill at its Norzagaray plant in Bulacan, which will boost annual capacity by 850,000 metric tons. Republic Cement ...

Audit Committee of DoubleDragon Properties Corp.
Bloomberg - 2016-03-15
Edgar Sia II 7 Relationships Chairman, Chief Executive Officer, Chairman of Executive Committee and Member of Audit Committee Tan Caktiong 39 Relationships Co-Chairman, Co-Chairman of Executive Committee and Member of Audit Committee Ferdinand Sia 7 ...

Boulevard : Jose Marcel Panlilio, attorneys goes in court over Boracay lot row
4 Traders - 2016-03-15
Mila Yap-Sumndad said she owns the property and has filed a libel suit against Jose Marcel Panlilio, head of Boulevard Holdings Inc. (BHI), the publicly listed property developer that owns Fridays Boracay for questioning her court-sanctioned public auction ...

Local stocks end higher
Inquirer - 2016-03-15
the notable gainers included DoubleDragon (+4.4 percent), Melco Crown (+3.17 percent) and Robinsons Retail Holdings (+1.43 percent). Ayala Land Inc., Ayala Corp. and Petron all declined by more than 1 percent. Metrobank and BDO Unibank also slipped.

New Semirara coal field operational by year-end
Philstar - 2016-03-15
MANILA, Philippines - Consunji-led Semirara Mining and Power Corp. will start production at its new coal field in Semirara Island by year-end after securing an environmental clearance, its top official said. In a disclosure to the Philippine Stock ...

Globe partners with Bharti Airtel
Philstar - 2016-03-15
MANILA, Philippines - Ayala-led Globe Telecom Inc. has partnered with Bharti Airtel to provide affordable call services to the Philippines. In a statement yesterday, Globe said the tie-up with Bharti Airtel Ltd. would provide Airtel customers from around ...

Airlines too victimized by extortion at NAIA
Philstar - 2016-03-15
GOTCHA By Jarius Bondoc (The Philippine Star) | Updated March 16 ... culpability for misdeeds at the Ninoy Aquino International Airport that he heads? Global airlines want to know, as Honrado allegedly "harasses" their personnel and operations.

Delay prompts First Gen to scrap Avion contract
Philstar - 2016-03-15
MANILA, Philippines - Lopez-owned First Gen Corp. has scrapped the contract with its Slovakian contractor over the delay in completing its 97-megawatt (MW) Avion open cycle natural gas-fired power plant in Batangas. In a disclosure to the Philippine ...

Senate probes $81-M money laundering
Manila Bulletin - 2016-03-15
but were stumped by executives of Rizal Commercial Banking Corporation (RCBC) who declined to discuss details of the transactions of the four bank account holders now being investigated for money laundering publicly, invoking either the Bank Secrecy Law or ...

SGK's David A. Schawk To Speak At PRIMEXEAST 2016
The Street - 2016-03-15
CHICAGO, March 15, 2016 /PRNewswire/ -- SGK, a division of Matthews International Corporation, and a leading global brand ... in New York City. PRIMEX - the Idealliance Print & Interactive Media Exchange conference series - brings together media executives ...

RCBC branch manager invokes right vs self-incrimination at Senate probe
Philippine Daily Inquirer - 2016-03-15
The branch manager of Rizal Commercial Banking Corporation (RCBC), who is at the center of the $81-million money laundering controversy, repeatedly invoked her right against self-incrimination, when she faced at a Senate investigation on Tuesday.

Bank execs face off at Senate
Philstar - 2016-03-15
chairman and president of Melco Crown Philippines and City of Dreams Casino. Businessman William Go, Michael Cruz, Jessie Lagrosas, Alfred Vergara, Enrico Vasquez and Kam Sin Wong (Kim Wong), all of whom were identified as bank account holders in RCBC were ...

Metrobank elevates mobile app experience
Philstar - 2016-03-15
MANILA, Philippines - The Metropolitan Bank & Trust Co. (Metrobank) will be introducing several applications (apps) for mobile banking transactions beyond the basics this year. Mark Perez, Metrobank Retail Banking Group head, said mobile is one of the ...

Telecom Italia Uses ADVA FSP 3000 in Major Metro Deployments
MSN - 2016-03-15
ROME, March 15, 2016 (GLOBE NEWSWIRE) -- ADVA Optical Networking announced today that Telecom Italia has deployed the ADVA FSP 3000 with multi-degree ROADM technology throughout its large-scale metropolitan networks. Italy's leading telecommunication and ...

Sustainable skylines: The future of green architecture in Metro Manila
Rappler - 2016-03-15
During a recent press conference, ArthaLand shed light on the importance of sustainable growth for urbanized cities such as Metro Manila. The boutique developer brought in Jonathan Stein and Ame Engelhart, Hong Kong- and USA-based architects from the firm ...

Oranza nears Ronda 2016 title
Philstar - 2016-03-15
The event, organized by LBC Express, is sanctioned by PhilCycling and sponsored by Manny V. Pangilinan Sports Foundation, Petron and Versa Radio-Tech 1 Corp. with Maynilad, NLEX and Wheeltek Motor Sales Corp. as minor sponsors.

Company Overview of Philex Petroleum Corporation
Bloomberg - 2016-03-15
Philex Petroleum Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported operating revenue of PHP 22,057,000 against PHP 77,286,000 a year ago. Gross ...

PAL aims to become 5-star airline by 2020
MSN - 2016-03-14
Shares in PAL Holdings, Inc. -- the operator of the airline -- were unchanged at P4.80 each on Tuesday. PAL and another Philippine carrier Cebu Pacific have three-star rankings based on the Skytrax World Airline Rating, the leading international airline ...

Republic Cement opens new Norzagaray plant
Manila Bulletin - 2016-03-14
Republic Cement & Building Materials, Inc., a leading cement and construction solutions provider in the country, has commissioned its newest cement Finish Mill at its Norzagaray Plant in Bulacan. In a disclosure to the Philippine Stock Exchange, the firm ...

April water rates to rise due to forex volatility
thestandard.com.ph - 2016-03-14
Customers of Maynilad Water Services Inc. and Manila Water Company Inc. will pay higher rates in April because of the fluctuation in the peso-dollar exchange rate, the two concessionaires said Monday. Maynilad and Manila Water said the water rate hike was ...

Truckers eye suit to stop port booking system
Philstar - 2016-03-14
The Port of Manila is run by Asian Terminals Inc. (ATI) while the MICP is operated by International Container Terminal Services Inc. (ICTSI). Ribao added that the idea for TABS only surfaced during the height of the port congestion problem in Metro Manila ...

Laguna Lakeshore project bidding moved to March 28
Philstar - 2016-03-14
... Miguel Holdings Corp.; and Team Trident (composed of Trident Infrastructure and Development Corp., Aboitiz Equity Ventures Inc., Ayala Land Inc., Megaworld Corp., and SM Prime Holdings Inc.). Palacios said the postponement of bid submissions for the ...

Water rates in NCR, nearby areas to rise slightly
Inquirer - 2016-03-14
Customers of Maynilad Water Services Inc. and Manila Water Co. Inc. should see a slight increase of at least 15 centavos and 59 centavos, respectively, on their bills starting April. The two concessionaires of the Manila Waterworks and Sewerage System ...

April water rates to rise due to forex volatility
thestandard.com.ph - 2016-03-14
Customers of Maynilad Water Services Inc. and Manila Water Company Inc. will pay higher rates in April because of the fluctuation in the peso-dollar exchange rate, the two concessionaires said Monday. Maynilad and Manila Water said the water rate hike was ...

Del monte pacific Turns around with $42-m 9-mo profit
Manila Bulletin - 2016-03-14
Del Monte Pacific Limited (DMPL) reported a turnaround with a net income of US$41.9 million in the nine-month period ending January, 2016 from the US$23.9-million loss suffered last year. In a disclosure to the Philippine Stock Exchange, DMPL said this ...

Broken CCTV cameras, fake documents raise doubts on RCBC branch
Philippine Daily Inquirer - 2016-03-14
All closed-circuit television (CCTV) cameras of Rizal Commercial Banking Corp. (RCBC) on Jupiter Street in Makati City were "not functioning" on the day the alleged $81-million stolen funds were withdrawn from the bank, Senator Teofisto Guingona III ...

Star Cinema brings 8-hour Lav Diaz movie to Philippine theaters
Philstar - 2016-03-14
MANILA, Philippines - Star Cinema, the film production arm of ABS-CBN Corporation, is bringing the Berlinale Film Festival Silver Bear-winning "Hele sa Hiwagang Hapis" closer to the Filipino people through a nationwide screening starting Black Saturday ...

Chinese Stocks Climb Amid Major Deals And State Promises As Other Economic Indicators Fall Short Of Market
International Business Times - 2016-03-14
Not only did shares of China Vanke Co. rise 10 percent after it signed a memorandum of understanding with Shenzhen Metro Group for the transit company to become a major investor in the real estate group, but shares of China Overseas Land and Investment ...

Broken CCTV cameras, fake documents raise doubts on RCBC branch
Philippine Daily Inquirer - 2016-03-14
All closed-circuit television (CCTV) cameras of Rizal Commercial Banking Corp. (RCBC) on Jupiter Street in Makati City were "not functioning" on the day the alleged $81-million stolen funds were withdrawn from the bank, Senator Teofisto Guingona III ...

Telstra's San Miguel Philippines telco deal falls through
MSN - 2016-03-14
Last year Telstra said it had envisaged investing up to $US1 billion in the potential joint venture with San Miguel Corporation, a conglomerate most famous internationally for its beer brewing, but which claims to account for about 6 per cent of The ...

San Miguel Corp, Telstra end joint venture plan
Rappler - 2016-03-14
MANILA, Philippines - The country's most diversified conglomerate, San Miguel Corporation (SMC), and Australia's biggest phone and Internet provider, Telstra Corporation, have ended talks over a planned joint telecommunications venture in Philippines ...

Shell lauds Globe for championing environmental sustainability
Inquirer - 2016-03-13
arm of Globe Telecom, in fostering innovation and harnessing technology for environmental sustainability. Student teams were challenged to stretch the boundaries of fuel efficiency in a real-world urban environment, and winners were determined by the ...

RFM : raises P100 million from sale of treasury shares
4 Traders - 2016-03-13
Food and beverage firm RFM Corp. said it raised some P100 million from the sale of its 25-million treasury shares. The company on Monday said in its disclosure to the Philippine Stock Exchange it sold the treasury shares at P4 apiece on Friday, the same ...

UnionBank promotes MSME e-commerce
MSN - 2016-03-13
The Ureka Forum, spearheaded by the Union Bank of the Philippines, welcomed 83 new e-commerce small and medium enterprises (SMEs) shops during its second run, held at the Iloilo Convention Center, Iloilo City last month. Most of the entrepreneurs promote ...

UnionBank promotes MSME e-commerce
MSN - 2016-03-13
The Ureka Forum, spearheaded by the Union Bank of the Philippines, welcomed 83 new e-commerce small and medium enterprises (SMEs) shops during its second run, held at the Iloilo Convention Center, Iloilo City last month. Most of the entrepreneurs promote ...

ABS-CBN gets loan to finance expansion
thestandard.com.ph - 2016-03-13
ABS-CBN Corp., the biggest broadcasting comnpany, said it borrowed P4.75 billion from Union Bank of the Philippines to refinance debt and partly fund expansion plans this year. The broadcasting network owned by the Lopez Group said it signed a P4.75 ...

ABS-CBN gets loan to finance expansion
Manila Standard Today - 2016-03-13
ABS-CBN Corp., the biggest broadcasting comnpany, said it borrowed P4.75 billion from Union Bank of the Philippines to refinance debt and partly fund expansion plans this year. The broadcasting network owned by the Lopez Group said it signed a P4.75 ...

Market expected to move sideways
thestandard.com.ph - 2016-03-13
Heavy losers were Manila Broadcasting Co., which fell 20.8 percent to P19; Keppel Philippines Properties Inc., which lost 16.1 percent to P3.74; and BDO Leasing and Finance Inc., which dipped 11.8 percent to P2.75.

Market expected to move sideways
Manila Standard Today - 2016-03-13
Heavy losers were Manila Broadcasting Co., which fell 20.8 percent to P19; Keppel Philippines Properties Inc., which lost 16.1 percent to P3.74; and BDO Leasing and Finance Inc., which dipped 11.8 percent to P2.75.

Market expected to move sideways
thestandard.com.ph - 2016-03-13
BPI Asset Management said in its weekly outlook the bellwether Philippine Stock Exchange index would likely trade between ... Development Corp., which surged 22 percent to P3.11; Xurpas Inc., which jumped 18.1 percent to P18.10; and Melco Crown ...

Govt set to award road link deal in Q3
thestandard.com.ph - 2016-03-13
Other MNTC shareholders are Egis Projects S.A. of France, Leighton Asia Ltd. of Australia and PNCC, which holds the franchise to run the expressway. The government decided to subject the project to a Swiss challenge after the Justice Department issued a ...

Union Bank of Philippines : ABS-CBN inks P4.7 B loan deal with Unionbank
4 Traders - 2016-03-13
MANILA, Philippines ABS-CBN Corp. has entered into a P4.75 billion loan agreement with Union Bank of the Philippines to finance its capital expenditures. "With a maturity of 10 years, the loan is intended to finance the company's capital expenditures," ABS ...

Lucio Tan holding firm reports 50% jump in 2015 net profit
Inquirer - 2016-03-13
CONGLOMERATE LT Group Inc. grew its net profit last year by 50 percent to P6.6 billion on higher earnings from its banking, tobacco and hard liquor businesses. Banking arm Philippine National Bank (PNB) contributed P3.51 billion or 53 percent of total income.

FNI eyeing a second nickel-ore processing plant to hike production
BusinessMirror. - 2016-03-13
GLOBAL Ferronickel Holdings Inc. (FNI) said over the weekend it plans to put up a processing plant in the country to add value to the nickel ore it extracts from its mining operations. FNI Senior Vice President for Investor Relations Ramon Peter E.

RCBC manager ready to tell all
Philstar - 2016-03-13
Mr. Go is very much sure that he never opened an account with RCBC branch. His main account is East West (Bank) from where Dequito came from," Esguerra told The STAR in an exchange of text messages. Go is among the six bank account holders invited by the ...