UK renews warning vs travel to parts of Mindanao due to â terrorismâ
MSN - 2014-05-12
The United Kingdom on Tuesday renewed its warning to its nationals against travel to parts of Mindanao, following what it called the kidnapping of two foreigners off Sulu Sea. In a May 13 update to its travel advice on the Philippines, the UK government ...

United Spirits stock down almost 3 per cent on bourses
Economic Times - 2014-05-12
The United Spirits board had recommended that its indirectly owned subsidiary United Spirits (Great Britain) Ltd consider the sale of Whyte & Mackay Group to Emperador UK Ltd, a unit of Emperador Inc, "for an enterprise value of 430 million pounds", the ...

Philippine distiller Emperador buys Scottish whisky-maker
Economic Times - 2014-05-12
Emperador is a wholly-owned subsidiary of Alliance Global Group, a Philippine conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants.'

Vivant to invest in Misamis Oriental coal-fired power project
interaksyon.com - 2014-05-12
MANILA - Vivant Corp is looking to buy into a coal-fired power project in Misamis Oriental. In a disclosure to the Philippine Stock Exchange, Vivant said unit Vivant Integrated Generation Corp (VIGC) has signed a subscription agreement with Minergy Coal ...

Sensex up over 500 points; Nifty hits 7,000; top ten stocks in focus
Economic Times - 2014-05-12
At 10:30 a.m.; the stock was trading 2.8 per cent lower at Rs 40.05. United Spirits Ltd: United Spirits Ltd agreed to sell its Whyte & Mackay scotch whisky unit to Emperador Inc in a 430 million pound ($729 million) deal that satisfies UK antitrust ...

Filinvest Group ramp up hotel investments
interaksyon.com - 2014-05-12
MANILA - Gotianun-led Filinvest Development Corp (FDC) is ramping up its investments in the hospitality sector. FDC president Josephine Gotianun-Yap last week told reporters that the holding firm has five to seven hotels in the pipeline. One of the ...

Mindanao power business props up Alsons
interaksyon.com - 2014-05-12
MANILA - Earnings of Alsons Consolidated Resources Inc (ACR) in the first quarter inched higher from a year ago as the company's power generation business continues to cash in from Mindanao's electricity shortage. In a disclosure to the Philippine Stock ...

Stocks to retest 7,000 this week
Manila Standard Today - 2014-05-12
Top losers were Concrete Aggregates Corp. "A" shares, which dipped 38.9 percent to P36.05; Berjaya Philippines Inc., which declined 23.4 percent to P21.60; and Keppel Philippines Holdings Inc. "B" shares, which decreased 14.6 percent to P4.61.

Manila Bay Clean-Up run slated on July 13
Manila Standard Today - 2014-05-11
MANILA Broadcasting Company will mount the fourth Manila Bay Clean-Up Run on July 13. The event is open to all interested participants and will feature races in the 3K, 5K, 10K, and 21K divisions for both men and women. Trophies and cash prizes will be ...

San Miguel Pure Foods posts higher revenues
MSN - 2014-05-10
The food and beverage unit of diversified conglomerate San Miguel Corp. (SMC) posted higher revenues in the first nine months of 2014, driven by robust agro, milling, and dairy businesses. San Miguel Pure Foods Co. Inc. (SMPF) said revenues in the first ...

Philippines' Emperador to buy Whyte & Mackay for $726 million
Economic Times - 2014-05-10
MUMBAI: United Spirits Ltd (USL), owned by the world's biggest distiller Diageo, agreed to sell its Whyte & Mackay spirits business to Philippines-based brandy maker Emperador Inc. for $726 million (Rs 4,358 crore). The board of United Spirits recommended ...

Philippines' Emperador to buy Whyte & Mackay for $726 million
Economic Times - 2014-05-10
MUMBAI: United Spirits Ltd (USL), owned by the world's biggest distiller Diageo, agreed to sell its Whyte & Mackay spirits business to Philippines-based brandy maker Emperador Inc. for $726 million (Rs 4,358 crore). The board of United Spirits recommended ...

United Spirits to Sell Whyte & Mackay to Philippine's Emperador
NDTV - 2014-05-09
India's United Spirits Ltd said it had agreed to sell its Whyte & Mackay British whisky business to a unit of Philippine's Emperador Inc for an enterprise value of $729 million (Rs 4,374 crore at 1 dollar = 60 rupees). The Indian spirits maker is being ...

PNB, BPI shares up on merger speculation
philstar.com - 2014-05-09
PNB, after completing its merger with Allied Banking Corp., is seen as a good potential takeover target. Currently the fourth largest lender in the country, PNB has an extensive distribution network of 656 domestic branches and offices and 859 automated ...

Philippines' Emperador all set to buy Whyte & Mackay spirits business
Economic Times - 2014-05-09
The acquisition will allow Alliance Global's distillery arm Emperador Inc, makers of the eponymous brandy, to gain a global portfolio of scotch whiskey, malt and grain distilleries and brands. It will also take the company beyond its home market ...

Philippines' Emperador all set to buy Whyte & Mackay spirits business
Economic Times - 2014-05-09
The acquisition will allow Alliance Global's distillery arm Emperador Inc, makers of the eponymous brandy, to gain a global portfolio of scotch whiskey, malt and grain distilleries and brands. It will also take the company beyond its home market ...

Emperador finalizes £430M acquisition of Whyte & Mackay
Rappler - 2014-05-09
MANILA, Philippines - Emperador Inc., through its wholly owned subsidiary, Emperador UK Limited, has already completed the acquisition of 100% stake in Whyte & Mackay Group Limited and its subsidiaries ("Whyte & Mackay") - dubbed as the single ...

San Miguel to pitch airport proposal to PNoy next week
interaksyon.com - 2014-05-08
On the sidelines of Ginebra San Miguel Inc's (GSMI) stockholders meeting on Thursday, SMC president Ramon Ang told reporters that an appointment with President Benigno Aquino III has been re-scheduled to May 13. "All set. Ready na," Ang said. Ang was ...

Ginebra's Jan-Mar revenue up a fifth
interaksyon.com - 2014-05-08
During the company's stockholders meeting on Thursday, Ginebra San Miguel Inc (GSMI) president Bernard Marquez said the company posted an operating income of P44 million in the first quarter of the year, reversing losses in the prior year. Revenues jumped ...

Megaworld adding more hotels in upcoming Mactan township
interaksyon.com - 2014-05-08
MANILA - Megaworld Corp is beefing up its hotel portfolio in Cebu with the expansion of its township on Mactan Island. In a disclosure to the Philippine Stock Exchange, the upscale condo builder owned by billionaire Andrew Tan said it is pouring P8 billion ...

Purefoods grows Jan-Mar profit by a quarter on higher sales volume, prices
interaksyon.com - 2014-05-07
In a disclosure to the Philippine Stock Exchange, San Miguel Pure Foods Co Inc said its net income attributable to equity holders of the parent company jumped 24 percent year-on-year to P870 million in the January to March period. Consolidated revenues ...

Ayala Land Q1 earnings up 25%
Rappler - 2014-05-06
MANILA, Philippines - Property giant Ayala Land Inc. earned P3.46 billion in the first quarter of the year, 25% more than what it booked the previous year. The company said all its business units performed strongly during the period. "The solid ...

Century Tuna maker's share price soars in market debut
Rappler - 2014-05-06
MANILA, Philippines - Shares of canned tuna manufacturer Century Pacific Food Inc. jumped as high as 16.7% in their market debut, owing to strong growth prospects. Century Pacific opened at P15.50 per share and hit as high as P16.04 before closing at P15.20.

Philex Petroleum may revive talks with CNOOC over Recto Bank
interaksyon.com - 2014-05-06
MANILA - Philex Petroleum Corp may revive talks with China National Offshore Oil Co. Ltd. (CNOOC) over an oil and gas prospect off the West Philippine Sea. "I think given the settlement between the Philippines and Hong Kong, maybe there's a favorable ...

2 towns hosting Padcal project agree to equally divide Philex Mining's tax payments
interaksyon.com - 2014-05-06
MANILA - Two neighboring towns that claim jurisdiction over Philex Mining Corp's Padcal copper-gold mine have agreed to set aside their border dispute and equally divide business taxes that have accrued over the years. In a statement, Philex Mining said it ...

Cebu Holdings to issue P5B in long-term bonds
Inquirer - 2014-05-05
Ayala-led Cebu Holdings Inc. is debuting on the local bond market and has obtained a triple-A credit rating from local credit watchdog Philippine Ratings Services Corp. on its proposed debt issue of as much as P5 billion. In a statement, Philratings said ...

Century Pacific sets PSE debut this week
philstar.com - 2014-05-05
DoubleDragon Properties Corp. was the first firm to conduct an IPO this year, while Top Frontier Investment Holdings Inc., the majority shareholder of diversified conglomerate San Miguel Corp., listed by way of introduction in January. The IPO price of P13 ...

Lucio Co holding firm completes Office Warehouse acquisition
interaksyon.com - 2014-05-03
MANILA - The listed holding firm of businessman Lucio Co has completed the acquisition of office and school products retailer Office Warehouse Inc. The purchase of 100 percent of Office Warehouse marked the foray of Cosco Capital Inc into specialty ...

Belle eyes control of Pacific Online
Philstar - 2014-05-02
Early this year, Abacus Consolidated Resources & Holdings Inc. trimmed its stake in Pacific Online to seven percent from 15 percent, with Belle buying the block to increase its shares to 43 percent of outstanding shares. Ocier said Belle already has the ...

EDC scales up Ilocos Norte wind power project
interaksyon.com - 2014-05-02
MANILA - Energy Development Corp (EDC) has increased the generating capacity of the Burgos wind power project in Ilocos Norte. In a disclosure to the Philippine Stock Exchange, the country's largest geothermal producer said it will install an additional 21 ...

Singapore's sovereign wealth fund invests in Century Tuna maker
interaksyon.com - 2014-05-02
MANILA - Singapore's sovereign wealth fund has invested in Century Canning Corp ahead of the listing of the latter's subsidiary, Century Pacific Food Inc. In a disclosure to the Philippine Stock Exchange, Century Pacific said Government of Singapore ...

Korea ferry disaster, Lawis Ledge collision
Sun Star - 2014-04-30
AUG.16 last year, the passenger ferry mv 2Go collided with the cargo ship Sulpicio Express Siete off Lawis Ledge, Talisay City. At least 137 people were killed; 29 were missing. Last April 16, the South Korean passenger ferry mv Sewol capsized. At least ...

Andrew Tan's holding firm posts record earnings in 2013
Rappler - 2014-04-30
MANILA, Philippines - Alliance Global Group Inc. (AGI), the holding firm of billionaire Andrew Tan, said Wednesday, April 30 its 2013 earnings hit a record, fueled by the strong performance of its real estate and liquor businesses. In a disclosure to the ...

Korean semicon giant to raise P2.15B via IPO
philstar.com - 2014-04-30
MANILA, Philippines - Phoenix Semiconductor Philippines Corp., a unit of a South Korean semiconductor giant, is taking advantage of the recovery in global electronics industry to raise P2.15 billion from an initial public offering (IPO). The debut of ...

Alphaland sells stake in Shangri-La hotel for P1.7B
Rappler - 2014-04-30
In a disclosure to the Philippine Stock Exchange, Alphaland said it sold its stake in the 5-star hotel to subsidiaries of Shang Properties Inc. for P1.7 billion. Shang Properties is the local property unit of Malaysia's Kuok Group. The sale followed ...

A sneak peek at the new Chef Creations by Chef Claude Tayag
MSN - 2014-04-29
According to Jose Victor Paterno, Philippine Seven Corporation President and CEO, "It made perfect sense to partner with Chef Claude, as he is one of the foremost advocates of Filipino cuisine to the world. He knows exactly how to bring out familiar ...

Is a monorail system the solution to traffic woes?
Sun Star - 2014-04-29
It will also involve a lot of land acquisition and road-widening ... to Fuente Osmeña then to Colon St., to Plaza Independencia to SM City Cebu, Mabolo, Ayala, I.T. Park, UP Cebu and to Escario. The route, he said, will be a loop. As for the north ...

Developer of Nabas wind farm seeks ERC permit to build power transmission facility in Aklan
interaksyon.com - 2014-04-29
MANILA - The consortium led by PetroEnergy Resources Corp (PERC) has asked regulators to allow it to put up its own transmission facilities to connect the Nabas wind farm in Aklan to the Panay Island power grid. In its application to the Energy Regulatory ...

PSE halts trading on Marcventures after gov't suspends subsidiary's Surigao nickel project
interaksyon.com - 2014-04-29
MANILA - The Philippine Stock Exchange (PSE) implemented a trading halt on Marcventures Holdings Inc pending its disclosure of additional information on the suspension of its subsidiary's mining operations in Surigao del Sur. Earlier in the day ...

Davao coal mining operations endorsed
MSN - 2014-04-28
LISTED Coal Asia Holdings, Inc. has secured state endorsement for its mining operations in Davao Oriental, the firm said in its disclosure yesterday. Coal Asia said it reported its resource estimates within its coal operating contact (COC) to the Energy ...

Security Bank says Q1 net income up 17% to  P1.43B
MSN - 2014-04-28
Security Bank Corp. reported a net income of P1.43 billion in the first quarter, up 17-percent from a year earlier, boosted by the growing core businesses of loans and deposits. Total resources expanded by 46 percent to P377 billion in the same ...

Security Bank says Q1 net income up 17% to  P1.43B
MSN - 2014-04-28
Security Bank Corp. reported a net income of P1.43 billion in the first quarter, up 17-percent from a year earlier, boosted by the growing core businesses of loans and deposits. Total resources expanded by 46 percent to P377 billion in the same ...

PH stock market slumps on selling pressure
interaksyon.com - 2014-04-28
Top gainers were Bogo Medellin, Global Port 900, Makati Finance and Unioil Resources, while the day's biggest losers were Benguet, Roxas & Co, Yehey!, Waterfront Philippines and Primex.

Property developer to question tax deficiency assessment
MSN - 2014-04-27
PHILIPPINE Realty and Holdings Corp. (Philrealty) is girding for a legal battle with the government, after the Bureau of Internal Revenue (BIR) informed it of a P530.133-million tax deficiency, the company said in a brief disclosure yesterday.

Howie Severino steps down as GMA News Online chief
Rappler - 2014-04-27
MANILA, Philippines - Award-winning journalist Howie Severino is stepping down as vice president for multimedia journalism of GMA Network Inc. and editor-in-chief of its online news arm, sources confirmed to Rappler. Severino made the announcement before ...

Aliwan Fiesta
Manila Standard Today - 2014-04-26
Participants to the 12th Aliwan Fiesta show their stuff during the cultural extravaganza hosted by the cities of Manila and Pasay, the Cultural Center of the Philippines, Star City and the Manila Broadcasting Company. EY ACASIO

Holcim earnings climb 17% to P1.67B in Q1
philstar.com - 2014-04-26
MANILA, Philippines - The ongoing construction boom continued to bouy the income and revenues of cement maker Holcim Philippines Inc. in the first quarter. In a disclosure, Holcim Philippines said its profits climbed 17 percent to P1.67 billion in the ...

MB names Basilio C. Yap new Chairman
News Philippines Yahoo - 2014-04-25
The Manila Bulletin Publishing Corporation Board of Directors has elected Mr. Basilio C. Yap as Director and appointed him as its new Chairman after the passing of the philantrophist Don Emilio T. Yap Sr. In the same meeting, the MB Board of Directors also ...

MB names Basilio C. Yap new Chairman
Manila Bulletin - 2014-04-25
He is also currently holding various positions in other companies including Chairman, President and Director of US Automotive Co., Inc., Usautoco, Inc., Philtrust Realty Corporation, Manila Prince Hotel, Cocusphil Development Corporation, U.N. Properties ...

George Stephanopoulos renews ABC contract
CNN Money - 2014-04-25
Stephanopoulos, one of the network news division's most important players, will continue to co-host "Good Morning America" on weekdays and host "This Week" on Sundays. The new deal for Stephanopoulos solidifies the "GMA" cast, which has gone through a ...