Nearly 80% of budget already with government departments
Philstar - 2016-03-13
After that, funds may be disbursed. Nicholas Antonio Mapa, research officer and economist at Bank of the Philippine Islands, is hoping the Aquino administration would spend on its last six months in office. "I would want them to hit their targets given ...

Aboitiz completes solar plant in Negros
thestandard.com.ph - 2016-03-13
Aboitiz Power Corp. said unit San Carlos Sun Power has completed the construction and commissioning of a 59-megawatt solar power project in Negros Occidental. Aboitiz Power said the plant was now exporting power to the Visayas grid, joining other players ...

Panlilio, lawyers sued over Boracay lot dispute
thestandard.com.ph - 2016-03-13
A Boracay property owner filed a libel suit against Boulevard Holdings Inc. chairman Jose Marcel Panlilio for a series of media reports that allegedly maligned her in questioning her planned, court-sanctioned public auction of a beachfront lot to settle ...

BSP requires big banks to submit recovery plans
Manila Bulletin - 2016-03-13
Metropolitan Bank and Trust Co., and Bank of the Philippine Islands are on that list. "The BSP, unlike the monetary authorities in Hong Kong and Singapore, will not publicly disclose which banks are classified as DSIBs or their respective additional loss ...

CEMEX Holdings raising P40B from IPO
Manila Bulletin - 2016-03-13
CEMEX Holdings Philippines, Inc. (CHP), the first company to seek for regulatory ... CEMEX is listed in both the Mexican Stock Exchange and New York Stock Exchange. It was in its latest disclosure in these bourses where CEMEX first announced the planned ...

PNB profit up 15% to P6.8 B in 2015
Philstar - 2016-03-13
MANILA, Philippines - Earnings of listed Philippine National Bank (PNB) grew 15 percent last year, mainly due to higher earnings from its core business. The bank owned by tobacco and airline magnate Lucio Tan booked a net income of P6.8 billion ...

Big Food Illegally Hid Funders of Campaign to Kill GMO-Labeling Effort, Judge Rules
FORTUNE - 2016-03-13
"There is one, and only one, reasonable inference that can be drawn from the facts before this court: that the GMA intentionally took steps to create and then hide the true source of the funds...from the voting public of Washington State," the judge wrot

How Emma Imperial is making solar power and housing affordable
entrepreneur.com.ph - 2016-03-13
(UPDATED) 'A woman's innovative idea can change the world, and you cannot take that away from her,' says the female CEO of Imperial Homes Corporation. (UPDATED) "I've not yet seen a woman that is one of the biggest developers in the country, most of them ...

Trader says RCBC forged his signature
MSN - 2016-03-12
Likewise, Esguerra said Go also filed a motion to lift the freeze order issued by the Court of Appeals against his legitimate accounts in BDO Unibank Inc. and East West Banking Corp. Go also sought the help of the National Bureau of Investigation (NBI ...

Taipan Gotianun dies at 88
Philstar - 2016-03-12
He was 88. Gotianun was a Chinese-Filipino entrepreneur who founded Filinvest Development Corp. (FDC), which owns most of property giant Filinvest Land Inc. (FLI) and the East West Bank. Both FDC and FLI have yet to make disclosures on his death ...

Two tycoons pass away
thestandard.com.ph - 2016-03-12
Before he was named ambassador to Laos by then President Gloria Macapagal Arroyo, Cabangon established and thrived a business empire that now includes Fortune Life Insurance Co. Inc., Eternal Plans Inc., Isuzu GenCars Inc., Citystate Savings Bank and ...

Inside the game-changing data center that connects Seattle to Asia
Big News Network - 2016-03-12
The deal bolsters Bellevue infrastructure company Centeris' 86-acre center with Kirkland-based Wave's fast-growing fiber network to create what the companies call the first transpacific broadband data and fiber hub.

Two tycoons pass away
Manila Standard Today - 2016-03-11
First to go was Filipino-Chinese tycoon Andrew S. Gotianun Sr., founder of Filinvest Development Corp., who died on Thursday at the age of 88, followed by former ambassador Antonio Cabangon-Chua who passed away Friday at the age of 81. Gotianun was the ...

ABS-CBN taps IBM to transform information technology system
thestandard.com.ph - 2016-03-11
ABS-CBN Corp. said Friday it signed a partnership agreement with IBM as part of a strategy to modernize the information and technology network of the broadcast company. ABS-CBN under the agreement will transfer its application management services to IBM.

Market climbs; Melco, ICTSI up
thestandard.com.ph - 2016-03-11
Seventeen of the 20 most active stocks ended in the green, led by casino operator Melco Crown (Philippines) Resorts Corp., which surged 9.8 percent to P2.80. Port operator International Container Terminal Services Inc. climbed 3.8 percent to P66.30 ...

Ayala bond offering
thestandard.com.ph - 2016-03-11
Conglomerate Ayala Corp. plans to raise as much as P20 billion through a bond offering to finance capital spending requirements up to 2019. Ayala Corp. chief finance officer Jose Teodoro Limcaoco said in a briefing the company would raise at least P10 ...

Senate summons Tan, Go, Deguito
Philippine Daily Inquirer - 2016-03-11
Melco Crown Philippines/City of Dreams Casino chair Clarence Chung; Philippine Amusement and Gaming Corp. chair Cristino Naguiat; AMLC Chair and Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr.; Securities and Exchange Commission Chair Teresita ...

RCBC branch manager barred from leaving PH
Philippine Daily Inquirer - 2016-03-11
Deguito, manager of the Rizal Commercial Banking Corp. (RCBC) branch on Jupiter Street in Makati City, was already aboard Philippine Airlines Flight 432 to Tokyo together with her husband and son when immigration authorities came aboard and took them off ...

RCBC branch manager barred from leaving PH
Philippine Daily Inquirer - 2016-03-11
Deguito, manager of the Rizal Commercial Banking Corp. (RCBC) branch on Jupiter Street in Makati City, was already aboard Philippine Airlines Flight 432 to Tokyo together with her husband and son when immigration authorities came aboard and took them off ...

LT Group profit jumps 50% to P6.6 B
Philstar - 2016-03-11
MANILA, Philippines - The LT Group Inc. (LTG) reported a 50 percent jump in its profit last year to P6.6 billion, mainly driven by the strong performance of its banking, tobacco and real estate units. Philippine National Bank contributed P3.51 billion or ...

Ayala Corp. sets P20-B bond float
Manila Bulletin - 2016-03-11
Ayala Corporation reported that it is seeking the shelf registration of P20 billion worth of bonds with the Securities and Exchange Commission (SEC) which it plans to issue within three years. In a disclosure to the Philippine Stock Exchange, the firm said ...

ERC clears Meralco on rate increase in February
Manila Bulletin - 2016-03-11
The regulator of the power industry has finally cleared Manila Electric Company (Meralco) on the questioned factors relating to its P0.42 per kilowatt hour (kWh) rate hike in February billing. Energy Regulatory Commission (ERC) chairman Jose Vicente B.

Metro Retail shelling out P500M for Wellworth assets
Inquirer - 2016-03-11
In a disclosure yesterday, the SSI Group--which owns 50 percent of SIAL Specialty Retails Inc. (SIAL) that sold the assets to MRSGI--said the assets included fit-out, furniture, fixtures and equipment of the department stores at Fairview Terraces Mall ...

RCBC chief offers to go on leave
Rappler - 2016-03-11
Bantug, chairman, president, and CEO, Leisure and Resorts World Corporation/Midas Hotel and Casino; and Clarence Chung, chairman and president, Melco Crown Philippines/City of Dreams Casino. The alleged account holders, including Filipino-Chinese ...

Former ambassador Antonio Cabangon-Chua passes away
Philippine Daily Inquirer - 2016-03-11
Businessman and former ambassador Antonio Cabangon-Chua passed away on Friday ... READ: Cabangon-Chua group set to take over RPN-9 He was also the founder of Citystate Savings Bank, Fortune Life Insurance Co., Inc., Eternal Plans, Inc., Citystate ...

Key personalities invited in Senate probe on money laundering
Philippine Daily Inquirer - 2016-03-11
Resorts World Corporation/Midas Casino Hotel and Melco Crown Philippines/City of Dreams Casino. Officials of the Anti-Money Laundering Council led by Bangko Sentral ng Pilipinas Governor Amado Tetangco Jr. and Securities and Exchange Commissioner Teresita ...

Key personalities invited in Senate probe on money laundering
Philippine Daily Inquirer - 2016-03-11
READ: 6 probed for money laundering The list also included other officials of RCBC, Philippine National Bank, East West Bank and Banco de Oro; heads of Solaire Resort and Casino Manila, Resorts World Corporation/Midas Casino Hotel and Melco Crown ...

William Go: RCBC branch manager forged my signature in $81-M money laundering
Philippine Daily Inquirer - 2016-03-11
William Go, one of the businessmen linked to the $81-million money laundering, claimed on Friday that his signature was forged by Maia Santos-Deguito, the branch manager of the Rizal Commercial Banking Corp. at Jupiter Street where the transaction happened.

Billionaire Henry Sy, Lazada Team Up on Philippine Online Retail
Bloomberg - 2016-03-11
Internet access and the use of smartphones have also been rising, encouraging EBay Inc., Alibaba Group Holdings Inc ... outpacing the 1.4 percent gain in the benchmark Philippine Stock Exchange Index. More Filipinos are accessing the Internet, including ...

TG panel summons 21 respondents to $100M money laundering probe
interaksyon.com - 2016-03-11
MANILA - The powerful Senate Blue Ribbon Committee, chaired by Senator Teofisto Guingona III on Friday summoned top officials of the Anti-Money Laundering Council, privates banks and casinos to appear before a US$100-M money laundering probe. Appearing ...

Makati mayor orders probe on alleged Ayala mauling incident
news.pia.gov.ph - 2016-03-11
MAKATI CITY, 11 March (PIA) -- Mayor Kid Peña has ordered the Makati Parking Authority (MAPA) to conduct further investigation on the brawling incident between their traffic enforcer and a pedestrian yesterday afternoon at the corner of Geronimo and H.V ...

COCKTALES | Breakaway Pascual drug group fights new family feud amid funding pain
interaksyon.com - 2016-03-11
That was when, as the cliche goes, the rubber finally met the road. Listed Harbor Star Shipping Services has acquired a World War II-era floating dry-dock in Guam and is towing the 622-foot-long, 124-foot-wide floating garage for ships to the Philippines.

PhilHealth Express opens at Robinsons Galleria
news.pia.gov.ph - 2016-03-11
CEBU CITY, March 11 (PIA) -- As the Philippine Health Insurance Corporation (PhilHealth ... with PhilHealth Express Offices--Robinsons Galleria, Robinsons-Fuente, Ayala Center Cebu, SM City Cebu, and J Centre Mall. The Philippine Information Agency ...

Ayala eyes opportunities in Indonesia
MSN - 2016-03-10
The conglomerate also has interests in real estate, banking, manufacturing and automotive. Ayala Corp. shares added P2.50 or 0.33% to close at P757 each on Friday.

Metro Retail shells out P499M for WellWorth dept stores
philstar.com - 2016-03-10
MANILA, Philippines - Gaisano-led Metro Retail Stores Group Inc. (MRSGI) has agreed to pay P499 million to the joint venture of the Ayala and Tantoco groups for the purchase of WellWorth department stores at Fairview Terraces Mall and UP Town Center Mall.

Ayala group 2015 profit jumps 20% to P22.3B
Inquirer - 2016-03-10
Bank of the Philippine Islands reported net earnings of P18.2 billion in 2015, up 1.1 percent. Manila Water posted a 2 percent-growth in consolidated net income to P6 billion. Integrated Micro-Electronics Inc. reported flat net income of $28.8 million.

Car firm ventures in financing
Inquirer - 2016-03-10
Called MMPC Auto Financial Services Corp. (MAFS), the joint venture is expected to be operational by June, with a representative of Sojitz taking the helm. MAFS has a capital stock of P750 million and is 40-percent owned by BDOLF, a subsidiary of BDO.

Fieldfresh Foods extends maternity leave up to 22 weeks
The Economic Times - 2016-03-10
NEW DELHI: To promote gender diversity at work place, Fieldfresh Foods, a joint venture between Bharti Enterprises and Del Monte Pacific, has enhanced maternity benefits from twelve to 22 weeks. As per the new policy, maternity leave for women employees ...

Stocks rise as index breaks 7,000 points
thestandard.com.ph - 2016-03-10
Alliance Global Group Inc. of tycoon Andrew Tan advanced 4.6 percent to P16.10, while First Gen Corp. of the Lopez Group jumped 6.8 percent to P21.25. Asian investors turned positive again Thursday, as they turn their attention to a European Central Bank ...

Ayala group earmarks P174 capex this year
The Daily Tribune - 2016-03-10
Conglomerate Ayala Group is earmarking P174 billion for its capital expenditures this year mainly to support real estate and telecommunications businesses and yield sustained growth. This after the group booked a 20-percent surge in profit to P22.3 billion ...

Philippine Bank Claims Innocence In Bangladesh-Federal Reserve Money Laundering Controversy
International Business Times - 2016-03-10
"I condemn as malicious and actionable insinuations that the top management of the bank knew of and tolerated alleged money laundering activities in one branch," Rizal Commercial Banking Corp. (RCBC) President Lorenzo Tan said in a statement. "My track ...

Startup competition accepts application until March 18
Inquirer Technology - 2016-03-10
IdeaSpace Foundation Inc., the startup incubator and accelerator program of the PLDT group, is accepting applications for its annual competition until March 18. It held its first feedback session on March 3 to help applicants improve their presentation on ...

Ayala Corporation beats target net income ahead of plan
Rappler - 2016-03-10
Equity earnings contribution from Ayala Corporation's business units - including Ayala Land, Incorporated; Globe Telecom, Incorporated; Bank of the Philippine Islands; and Manila Water Company, Incorporated - reached P28 billion ($600.20 million ...

Metro Retail pays P499M for Wellworth assets
Inquirer - 2016-03-10
In a disclosure by the Tantoco family-led retailer SSI Group - which owns 50 percent of SIAL Specialty Retails Inc. (SIAL) that sold the department store assets to MRSGI - said the assets included fit-out, furniture, fixtures and equipment of the ...

Data Entry/Researcher/Photographer
www.onlinejobs.ph - 2016-03-10
I am a graduate of Bachelor of Science in Information Technology at FEU-East Asia College. I have 3 months experience in data entry, web research and MS Office. And 3 years experience in Photography and creative Design. I am honest, a good team player and ...

Xurpas acquires 23% of HK firm
Manila Standard Today - 2016-03-09
Xurpas Inc. said it acquired a 23.53-percent interest in Micro Benefits Ltd., a Hong Kong-based company providing mobile human resource solutions to top Chinese firms, for $10 million. Xurpas said in a disclosure to the stock exchange the investment into ...

Xurpas acquires 23% of HK firm
thestandard.com.ph - 2016-03-09
Xurpas Inc. said it acquired a 23.53-percent interest in Micro Benefits Ltd., a Hong Kong-based company providing mobile human resource solutions to top Chinese firms, for $10 million. Xurpas said in a disclosure to the stock exchange the investment into ...

Part 2 - The Bourses of ASEAN: A round-up of development in 2015
JD Supra - 2016-03-09
There were only four IPOs on PSE in 2015, the most recent being property developer, Italpinas Development Corporation, in December. Arguably, PSE faces two main challenges when it comes to driving further growth. Firstly, the Philippine banking sector is ...

AboitizPower books P17.6 B profit in 2015
Philstar - 2016-03-09
MANILA, Philippines - AboitizPower Corp., the power generation arm of the Aboitiz Group, booked five percent higher profits last year as improved power generation and distribution business results offset foreign exchange losses. AboitizPower disclosed ...

30-year sequestration of Philcomsat lifted
Philstar - 2016-03-09
In turn, Philcomsat owns 81 percent of PSE-listed Philcomsat Holdings Corp., 19 percent of which is owned by some 2,000 private shareholders. SINCE 1986, the PCGG has sequestered and plundered POTC and Philcomsat without impleading them in the original ...