Subic-bound vessel helps decongest Manila ports
Philippine Daily Inquirer - 2014-08-28
Bureau of Customs and port operators International Container Terminal Services Inc. and Asian Terminals Inc. The number may still increase in the next few days. Businessmen affected by the congestion have blamed it on the expanded daytime truck ban ...

Vivant gets stake in Aboitiz Power unit
Manila Bulletin - 2014-08-28
A unit of Vivant Corp. has acquired a stake in the subsidiary of Aboitiz Power Corp., proponent of a 300-megawatt coal-fired power plant in Cebu. A disclosure to the Philippine Stock Exchange on Thursday said that Therma Power, Inc. (TPI) entered into a ...

Emperador to replace Philex Mining in PSE main index
Manila Bulletin - 2014-08-28
Greenergy Holdings Incorporated (GREEN) will then be excluded from the industrial index. Likewise, composition of the Holding Firms index will be reduced to 14 with the removal of AbaCore Capital Holdings, Inc. (ABA), Minerales Industrias Corporation (MIC ...

Emperador a blue chip under revised PSE index
Philstar - 2014-08-28
will be reduced to 14 with the removal of AbaCore Capital Holdings Inc., Minerales Industrias Corp. and Solid Group Inc. The property index, on the other hand, will see two additions in Starmalls Inc. and Suntrust Home Developers Inc. while A. Brown Co ...

Philex Mining allowed to resume Padcal operations 2 years after tailings leak
Philippine Daily Inquirer - 2014-08-28
MANILA, Philippines--The Mines and Geosciences Bureau has allowed Philex Mining Corp. to finally resume its operations in its Padcal mine in Benguet, roughly two years after the company was slapped with a cease and desist order. In an Aug. 27 letter to ...

How to fix the education system? Think like a businessman
Rappler - 2014-08-28
Our principal target was to go to areas where there is no government schooling," TCF director Ateed Riaz said at a discussion with Philippine businessmen and journalists organized by Phinma Education on Thursday, August 28. In 2002, the group built 100 ...

Henry Sy keeps top spot in PH's list of billionaires
News Philippines Yahoo - 2014-08-28
These were Ricardo Po of Century Pacific Group ($770 million); Dean Lao of D&L industries ($625 million); Raul and Jose Concepcion and family of Concepcion Industrial and RFM Corporation; and pawnshop titan P.J. Lhuiller, $180 million. The 50 richest ...

Unfazed by big-format casinos, Philweb sets sights oustide metro, across Asia-Pacific
interaksyon.com - 2014-08-28
MANILA - Philweb Corp will expand its e-game business in the Asia-Pacific region. On the sidelines of the company's stockholders' meeting, Philweb president Dennis Valdes told reporters that the online-gaming firm is looking at Myanmar, Palau, Nepal, Sri ...

Phinma subsidiary to acquire more schools ahead of listing
interaksyon.com - 2014-08-28
MANILA - The education arm of Phinma Corp is looking to acquire schools and new ventures ahead of a planned listing in the Philippine Stock Exchange in the next three years. In a briefing on Thursday, Phinma Education chief financial officer Daisy ...

Max's Group to raise up to P5B from share sale
interaksyon.com - 2014-08-28
MANILA - Max's Group Inc plans to raise nearly P5 billion when it taps the equity market for the first time since taking over Pancake House Inc (PHI). In a statement, the casual dining store operator said the follow-on offering aims to generate up to P4.6 ...

Century Properties sells P2.7-b bonds
Manila Standard Today - 2014-08-28
Century Properties Group Inc. successfully raised P2.7 billion from a bond offering, its issue manager said Wednesday. BDO Capital and Investments Corp. president Eduardo Francisco said in a text message the bond issue was met by strong demand, prompting ...

Technology Resource Center (TRC) Training Schedule September 2014
businessdiary.com.ph - 2014-08-28
Lecture/Hands-on: artwork preparation, mesh stretching, t-shirt/fabric printing, hand cut and photographic stencil making, finishing-curing and drying. Lecture/Hands-on: techniques of hilot that will identify weak points in the body; how to apply ventosa ...

Emperador to replace Philex Mining in PSE main index
Manila Bulletin - 2014-08-27
Greenergy Holdings Incorporated (GREEN) will then be excluded from the industrial index. Likewise, composition of the Holding Firms index will be reduced to 14 with the removal of AbaCore Capital Holdings, Inc. (ABA), Minerales Industrias Corporation (MIC ...

Trans-Asia Petroleum gets minority stake in Calauit oil field
Manila Bulletin - 2014-08-27
Trans-Asia Petroleum Corporation (TAPET), a subsidiary of listed Trans-Asia Oil and Energy Development Corp., has exercised its option to acquire a minimal interest in the Calauit oil field ahead of its official entry in the Philippine Stock Exchange (PSE ...

Trans-Asia Petroleum exercises option to buy into Calauit oil field
interaksyon.com - 2014-08-27
MANILA - Trans-Asia Oil & Energy Development Corp has exercised its option to acquire a minimum stake in Frontier Oil Corp's exploration block in offshore Busuanga, Palawan. In a disclosure to the Philippine Stock Exchange, Trans-Asia said that subsidiary ...

Cosco confirms Liquigaz buyout
Philstar - 2014-08-27
MANILA, Philippines - Cosco Capital Inc. confirmed yesterday that it acquired liquefied petroleum gas (LPG) supplier Liquigaz earlier this month at a cost of about $80 million. In a disclosure to the Philippine Stock Exchange, the investment vehicle of ...

Emperador replaces Philex in PH stock index
interaksyon.com - 2014-08-27
The holding firms index will be reduced to 14 with the removal of AbaCore Capital Holdings Inc (ABA), Minerales Industrias Corp (MIC), and Solid Group Inc (SGI). The property index will see two additions in Starmalls Inc (STR) and Suntrust Home ...

Emperador replaces Philex in PH stock index
interaksyon.com - 2014-08-27
The holding firms index will be reduced to 14 with the removal of AbaCore Capital Holdings Inc (ABA), Minerales Industrias Corp (MIC), and Solid Group Inc (SGI). The property index will see two additions in Starmalls Inc (STR) and Suntrust Home ...

Lucio Co completes takeover of Liquigaz
interaksyon.com - 2014-08-27
In a disclosure to the Philippine Stock Exchange, Cosco Capital Inc has completed the acquisition of 90 percent of the outstanding shares of Liquigaz Philippines Corp. The remaining 10 percent is in the hands of PR Gaz Inc. Cosco said the acquisition of ...

Lucio Co completes takeover of Liquigaz
interaksyon.com - 2014-08-27
In a disclosure to the Philippine Stock Exchange, Cosco Capital Inc has completed the acquisition of 90 percent of the outstanding shares of Liquigaz Philippines Corp. The remaining 10 percent is in the hands of PR Gaz Inc. Cosco said the acquisition of ...

India claws back BPO business from arch-rival Philippines
ZDNet - 2014-08-26
India's nemesis, the Philippines. Apparently, the Americans did a better ... snapping up business from India's public sector banks including Bank of Baroda, Union Bank of India and Bank of India, including the setting up of a 1,200-seat delivery center ...

PSE says trading on 5 listed firms remains suspended
Inquirer - 2014-08-25
The five companies (and their respective trading symbols) are: Gotesco Land Inc. (GO); Marsteel Consolidated Inc. (MC); Metro Alliance Holdings & Equities Corp. (MAH); Picop Resources Inc. (PCP); and Primetown Property Group Inc. (PMT). The PSE ...

Paxys mulls over delisting
Inquirer - 2014-08-23
Business process outsourcing (BPO) holding firm Paxys Inc. is bracing for a potential delisting from the Philippine Stock Exchange as its public ownership may fall below the requirement after a tender offer by its subsidiary. In a report to the PSE Friday ...

Harbor Star vessel seized
Manila Standard Today - 2014-08-22
Harbor Star Shipping Services Inc., a leading provider of harbor assistance, salvage and towing services, said one of its tugboats was seized by the Bureau of Customs, for alleged misdeclaration or underdeclaration. Harbor Star said in a disclosure to the ...

Customs seizes Harbor Star tugboat
interaksyon.com - 2014-08-22
MANILA - The Bureau of Customs (BoC) has ordered the seizure of an imported tugboat owned by Harbor Star Shipping Services Inc for alleged misdeclaration. In a disclosure to the Philippine Stock Exchange, Harbor Star Shipping Services Inc said it ...

Customs seizes Harbor Star tugboat
interaksyon.com - 2014-08-22
MANILA - The Bureau of Customs (BoC) has ordered the seizure of an imported tugboat owned by Harbor Star Shipping Services Inc for alleged misdeclaration. In a disclosure to the Philippine Stock Exchange, Harbor Star Shipping Services Inc said it ...

Customs seizes Harbor Star tugboat
Inquirer - 2014-08-22
MANILA, Philippines--Harbor Star Shipping Services Inc., a leading provider of harbor assistance, lighterage, salvage and towing services in the country, is at odds with the Bureau of Customs over a tugboat importation. In a disclosure to the Philippine ...

Galoc oil field consortium exploring additional wells, says Nido Petroleum
interaksyon.com - 2014-08-21
Besides Nido, other consortium members are Australia's Otto Energy Ltd, Kuwait Foreign Petroleum Exploration Co, Oriental Petroleum & Minerals Corp-Linapacan Oil Gas & Power Corp, The Philodrill Corp, and Forum Energy PLC.

3,000 Zambales residents protest vs. closure of 4 mining firms
Manila Standard Today - 2014-08-21
STA. CRUZ, Zambales-- More than 3,000 residents of this province, including miners, scholars and community leaders have staged simultaneous protests against the closure of four mining sites that led to hundreds of job losses. Residents and workers ...

Melco Crown to bring in global nightclub brands
philstar.com - 2014-08-20
MANILA, Philippines - Macau-based casino giant Melco Crown Entertainment Ltd. will be bringing in global entertainment brands to its planned integrated resort complex in the Philippines, recently adding internationally acclaimed nightclub brands of The ...

Trans-Asia Petroleum to raise funds through stock rights offering
interaksyon.com - 2014-08-20
MANILA - Trans-Asia Petroleum Corp is planning to undertake a stock rights offering after it completes its stock market debut. The unit of Trans-Asia Oil & Energy Development Corp is eyeing to raise roughly P500 million from a rights offering before the ...

Trans-Asia Petroleum to raise funds through stock rights offering
interaksyon.com - 2014-08-20
MANILA - Trans-Asia Petroleum Corp is planning to undertake a stock rights offering after it completes its stock market debut. The unit of Trans-Asia Oil & Energy Development Corp is eyeing to raise roughly P500 million from a rights offering before the ...

Martin Lorenzo group to venture into real estate
Rappler - 2014-08-20
MANILA, Philippines - CAT Resources and Asset Holdings Inc., the company owned by businessmen Martin Lorenzo and Fernando Cojuangco that bought into Central Azucarera de Tarlac Inc. (CAT), plans to venture into industrial and residential development ...

Integrated Micro-Electronics board clears follow-on offering
interaksyon.com - 2014-08-20
MANILA - Integrated Micro-Electronics Inc (IMI) is gearing up for its much delayed follow-on offering to meet the post-listing requirement of the Philippine Stock Exchange. The Ayala-led semiconductor firm told the exchange that its board of directors ...

Tender offer made for P964-M Paxys shares
Manila Bulletin - 2014-08-18
Business process outsourcing firm Paxys Inc. reported that its subsidiary Paxys N.V. is making a tender offer for Paxys Inc. shares held by minority shareholders for about P964 million. In a disclosure to the Philippine Stock Exchange, Paxys said its board ...

Tender offer made for P964-M Paxys shares
Manila Bulletin - 2014-08-18
Business process outsourcing firm Paxys Inc. reported that its subsidiary Paxys N.V. is making a tender offer for Paxys Inc. shares held by minority shareholders for about P964 million. In a disclosure to the Philippine Stock Exchange, Paxys said its board ...

Basic Energy hopeful on Indonesian well
Manila Bulletin - 2014-08-18
Oil manifestation has been upping the ante for local firm Basic Energy Corporation on eventual production at one of its drilled petroleum wells in Indonesia. The company, in a disclosure to the Philippine Stock Exchange, has noted that subsequent wire ...

Towing services boost Harbor Star H1 revenues
Philstar - 2014-08-18
MANILA, Philippines - Harbor Star Shipping Services, Inc. reported a 76 percent increase in its first semester net income toP90.828 million from the previous P51.513 million. The company also reported a 30-percent hike in service income to P555.7 million ...

Paxys shares fly after unit offers to buy out minority
interaksyon.com - 2014-08-18
MANILA - Shares in Paxys Inc, a holding company focusing on investments in the business process outsourcing industry, surged on Monday after its wholly owned subsidiary made an offer to buy out the minority stakeholders of the company at a premium.

PBB net income drops 68% to P258 M in H1
philstar.com - 2014-08-17
MANILA, Philippines - Philippine Business Bank (PBB) registered a 68-percent drop in net earnings to P258 million in the first six months of 2014 due to higher spending for branch expansion and lower trading gains. In a statement, PBB president and chief ...

Sta. Lucia Land reports P307-M profit, up 155%
Manila Bulletin - 2014-08-16
Despite seeing its net income increase by nearly a double, listed property developer Sta. Lucia Land, Inc. (SLI) is still way behind its target of project developments this year. To support its growth momentum, the company targeted to start the development ...

Lopez Holdings income up 27% to P1.81B
Philstar - 2014-08-16
Lopez Holdings Inc. said its net income reached P1.81 billion, 27 percent higher than the P1.42-billion profit a year ago. "This was primarily due to the strong performance of First Philippine Holdings Corp. (FPHC) and associates during the period ...

PBCom posts lower net income of P190M
Manila Bulletin - 2014-08-15
The Philippine Bank of Communications (PBCOM) reported a net income of P190.434 million in the first half of the year, representing a 44.5 percent reduction in total operating income versus first half of 2013. In a disclosure to the Philippine Stock ...

Energy watch: No need for emergency powers
philstar.com - 2014-08-15
the group said the government should fast-track the rehabilitation of one unit or 300 megawatts of the Malaya Thermal Power plant in Rizal in time for summer 2015 and facilitate the entry of the 100 MW Avion natural gas plant of First Gen Corp. to early ...

Lucio Co raises stake in PBCom with acquisition of ISM's shares
interaksyon.com - 2014-08-15
MANILA - Businessman Lucio Co is raising his holdings in Philippine Bank of Communications (PBCom) with the acquisition of shares held by ISM Communications Corp. In a disclosure to the Philippine Stock Exchange, ISM said its board of directors accepted ...

Cosco first-half earnings flat on weak contribution from Puregold
interaksyon.com - 2014-08-15
MANILA - Lucio Co-led Cosco Capital Inc registered flat earnings in the first half of the year, weighed down by a lower contribution from retail subsidiary Puregold. In a regulatory filing, Cosco said its earnings attributable to equity holders inched up ...

Amid rising prices, Manila port operators told to prioritize food shipments
interaksyon.com - 2014-08-15
Following food items, PPA, MICT operator International Container Terminal Services Inc and MSH operator Asian Terminals Inc will ship out boxes containing ingredients of other consumer items again to reduce the inflationary effects of congestion to the ...

Regulators clear Century Properties' debt sale
interaksyon.com - 2014-08-15
MANILA - The Securities and Exchange Commission (SEC) has approved Century Properties Group Inc's P3-billion debt sale. In a disclosure to the Philippine Stock Exchange, the property firm of former ambassador Jose EB Antonio said it priced the three-year ...

Filipino Food Giant Fined Over 'Magnolia' Trademark Order
Law 360 - 2014-08-14
Law360, New York (August 14, 2014, 6:26 PM EDT) -- A California federal judge on Wednesday ordered Philippines food giant San Miguel Pure Foods Co. Inc. to pay $20,000 for partially violating a court order barring it from using Ramar International Corp.'s ...

Index reverses early losses on last-minute buying
philstar.com - 2014-08-14
MANILA, Philippines - Last-minute buying reversed early losses and allowed the bellwether index to close in the green for the third straight session. The Philippine Stock Exchange index inched up 0.04 percent or 2.75 points to 6,986.24, while the broader ...