OMG names new platforms director
marketing-interactive.com - 2013-05-23
Her career in online advertising began at Yehey! Corporation where she first worked as a web coordinator back in 2007 and got promoted to digital marketing services manager in the same year. Among the brands she handled are Sara Lee, Burger King ...

MVP group eyes Davao for palm oil production
Rappler - 2013-05-22
"We're still waiting for the assessment of Indofood with regards to a potential palm oil plantation," he said during the Philex Petroleum Corporation annual stockholders meeting on Tuesday, May 21. He added assessment results and development updates will ...

Hotel operators turn in mixed results in Q1
Philstar - 2013-05-21
MANILA, Philippines - Waterfront Philippines Inc., Shang Properties Inc. and Grand Plaza Hotel Corp. (GPHC), three listed property firms involved in the hotel business, reported mixed results in the first quarter. In a disclosure, GPHC said its net income ...

DMCI Holdings profit slips 31% to P1.85 B in 1st qtr
Philstar - 2013-05-21
MANILA, Philippines - Consunji-led DMCI Holdings Inc. said its first-quarter profit sank by a third, weighed down by lower income contribution from its coal, nickel and construction businesses. In a regulatory filing, DMCI Holdings said its core earnings ...

BCDA mulls raps vs SM over Taguig mall
Rappler - 2013-05-21
MANILA, Philippines - The Bases and Conversion Development Authority (BCDA) may file a case against Henry Sy-owned SM Prime Holdings Inc. for the "illegal" building of SM Aura and excavation beside the mall in Bonfacio Global, Taguig City. In a phone ...

Belle looks beyond gaming, eyes M&As to attain conglomerate status by next year
interaksyon.com - 2013-05-21
Aside from owning Belle Grande Manila Bay and developing upscale residential projects in Tagaytay and Batangas, the firm owns 35 percent of Pacific Online Systems Corp and 46.59 percent of APC Group Inc, which was reportedly being eyed by SM group as the ...

Free vocational training for out-of-school youth up
Balita - 2013-05-20
Without fanfare, the Malampaya Foundation ... Philippines, Inc., Technical Education and Skills Development Authority, Batangas Association of Guaranteed Metals and Engineering Technology, Lacorte Manpower Training Center and Concept Institute for Career ...

Century Properties profit up 10% in Q1
Rappler - 2013-05-20
MANILA, Philippines - The company responsible for bringing businessman Donald Trump and celebrity Paris Hilton to design prime real estate in the Philippines, Century Properties Group (CPG), reported a double-digit growth in its net income in the first ...

Fitch retains BDO, BPI, DBP, Landbank credit ratings
philstar.com - 2013-05-18
BDO Unibank Inc., Bank of the Philippine Islands (BPI), Land Bank of the Philippines and Development Bank of the Philippines (DBP) all kept their long-term issuer default, viability and support ratings, with stable outlooks. The action followed upgrades to ...

Incumbent PSE board wins fresh mandate
interaksyon.com - 2013-05-18
Other firms that have sought regulatory approval to conduct initial public offering (IPO) are Harbor Star Shipping Services Inc, Discovery World Corp, Hengda Group Holdings Corp and Travellers International Hotel Group Inc. "There's quite a robust ...

AgriNurture spending P1 billion to expand banana plantation, cold storage facilities
interaksyon.com - 2013-05-18
MANILA - AgriNurture Inc (ANI) is setting aside P1 billion to expand its banana production as well as cold storage businesses. "We are aggressive in terms of expanding our banana plantation and cold storage, easily our capital expenditure for that would ...

Asia United Bank climbs 9.5% on its PSE debut
GMA Network - 2013-05-17
Lender Asia United Bank Corp. jumped as much as 9.5 percent on its market debut on Friday after an oversubscribed public offer, the first listing since the country won investment rating upgrades from two agencies this year. The medium-sized bank's overseas ...

Anchor Land Q1 income jumps 13% to P295-M
Rappler - 2013-05-17
MANILA, Philippines - Upscale property developer Anchor Land Holdings Inc. posted a 13% growth in first quarter earnings on strong residential sales and rental revenues. In a statement to the Philippine Stock Exchange on Friday, May 17, Anchor Land said ...

2GO turns in a profit after more people travel by sea
interaksyon.com - 2013-05-16
In a disclosure to the Philippine Stock Exchange, 2GO Group Inc said it earned P59.44 million in the January to March period, a turnaround from last year's P213.22 million net loss. Consolidated revenues increased by seven percent to P3.5 billion from last ...

Liberty Telecom narrows loss on lower expenses
interaksyon.com - 2013-05-16
MANILA - Liberty Telecoms Holdings Inc narrowed its losses in the first quarter on lower operating expenses. In a disclosure to the Philippine Stock Exchange, Liberty Telecoms said losses dropped by 17.69 percent to P301.88 million in the January to March ...

Liberty Telecom narrows loss on lower expenses
interaksyon.com - 2013-05-16
MANILA - Liberty Telecoms Holdings Inc narrowed its losses in the first quarter on lower operating expenses. In a disclosure to the Philippine Stock Exchange, Liberty Telecoms said losses dropped by 17.69 percent to P301.88 million in the January to March ...

A third of listed stocks in public hands at end-March, PSE says
interaksyon.com - 2013-05-16
At end-April, Philcomsat Holdings Corp (9.60 percent), Southeast Asia Cement Holdings Inc (2.41 percent), Cosmos (1.79 percent), Nextstage Inc (1.20 percent), PAL Holdings Inc. (0.55 percent), and PNOC Exploration Corp (0.21 percent) have yet to cross the ...

A third of listed stocks in public hands at end-March, PSE says
interaksyon.com - 2013-05-16
At end-April, Philcomsat Holdings Corp (9.60 percent), Southeast Asia Cement Holdings Inc (2.41 percent), Cosmos (1.79 percent), Nextstage Inc (1.20 percent), PAL Holdings Inc. (0.55 percent), and PNOC Exploration Corp (0.21 percent) have yet to cross the ...

ABS-CBN, GMA-7 benefit from politics
Rappler - 2013-05-15
On Wednesday, May 15, ABS-CBN Corp and GMA Network Inc. announced that their January-to-March earnings jumped 66% and 55%, respectively. The two expect healthy overall 2013 financial performance to be better than non-election years, like 2012, when their ...

US-based fund manager invests in ABS-CBN
interaksyon.com - 2013-05-15
After the completion of the share and PDR subscriptions, Lopez will hold 56 percent of the outstanding common shares and will retain voting control of 79 percent of all outstanding shares. ABS-CBN said the funds raised will be used to expand the ...

US-based fund manager invests in ABS-CBN
interaksyon.com - 2013-05-15
After the completion of the share and PDR subscriptions, Lopez will hold 56 percent of the outstanding common shares and will retain voting control of 79 percent of all outstanding shares. ABS-CBN said the funds raised will be used to expand the ...

ABS-CBN raises P4-B via US-based private equity, parent
Rappler - 2013-05-15
ABS-CBN said CIPEF will infuse the funds by subscribing to ABS-CBN Holdings Corp.'s newly issued Philippine Deposit Receipts (PDR). ABS-CBN Holdings will in turn subscribe to the same number of newly issued common shares of ABS-CBN Corp. PDRs are financial ...

PetroEnergy's Maibarara geothermal project bags UN clearance to trade carbon credits
interaksyon.com - 2013-05-14
In a disclosure to the Philippine Stock Exchange, PetroEnergy Resources Corp said the Secretariat of the UN Framework Convention on Climate Change confirmed that the Maibarara geothermal power project has been registered effective December 26, 2012 as a ...

Spencer Savings Bank Proudly Participates in the Nutley Chamber of Commerce's 15th Annual 5K Fun Run/Walk
USA Patch - 2013-05-13
This post was contributed by a community member. Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., kicked off its 5K summer run series, by participating in the Nutley Chamber of Commerce's 15th Annual 5K Fun Run/Walk on Sunday ...

San Miguel Corp Q1 profits drop 51%
Rappler - 2013-05-13
However, the company reported a 2% increase in market share due to positive consumer response to marketing programs. San Miguel Pure Foods Company Inc. was off to a solid start as consolidated revenues for the first three months reached P23.0 billion ...

San Miguel Pure Foods plans to sell more shares
philstar.com - 2013-05-13
MANILA, Philippines - Ramon S. Ang-led San Miguel Corp. (SMC) is planning to sell more shares in its food and beverage giant San Miguel Pure Foods Co. Inc. (SMPF). PAL Holdings Inc., to which SMC is a significant minority, will also sell shares to remain ...

Soldier killed by NPA in Negros Oriental
Rappler - 2013-05-13
According to Patrimonio, the guerrillas are suspected of having killed five soldiers in a May 5 attack near Sipalay City and destroying properties belonging to Philex Mining Corporation in Negros Oriental. - Rappler.com

The wRap
Rappler - 2013-05-13
Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government implemented a higher excise tax on alcohol products. "Our beer and hard liquor business, we were greatly ...

Taiwan to PH: Respond or else
Rappler - 2013-05-13
Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government implemented a higher excise tax on alcohol products. "Our beer and hard liquor business, we were greatly ...

Would you buy a Greek bank?
CNN Money - 2013-05-10
If a Greek bank came knocking on your door and asked for money ... Greek branches and operations of French banking group Societe Generale and Portugal's BCP Millenium in exchange for shares. SocGen will own a 0.5% stake in Piraeus. BCP will own a 4.7% ...

Gin, beer sales down due to sin tax
Philstar - 2013-05-10
Conglomerate San Miguel Corp. (SMC), which owns Ginebra San Miguel Inc. and San Miguel Brewery Inc. (SMB), recorded substantially lower sales volume in the first quarter, its top executive said. Ć¢EURoeI think our beer and hard liquor businesses were ...

PDIC files raps vs Exportbank officers
Rappler - 2013-05-10
MANILA, Philppines - The state deposit insurer has filed a criminal complaint against the former chairman and 5 other officers of the troubled Export and Industry Bank (Exportbank) for conducting "unsafe and unsound" banking. In a statement on Friday ...

Exportbank execs face criminal raps
philstar.com - 2013-05-10
MANILA, Philippines - The Philippine Deposit Insurance Corp. filed on Thursday criminal charges against executives of the closed Export and Industry Bank for violating the PDIC Charter and the General Banking Law of 2000. Jaime C. Gonzales, the bank's ...

The wRap
Rappler - 2013-05-10
The opposition welcomed efforts to resolve the crisis, but said Assad's departure was non-negotiable. Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government ...

The wRap
Rappler - 2013-05-10
The opposition welcomed efforts to resolve the crisis, but said Assad's departure was non-negotiable. Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government ...

Former allies square off for mayorship
Sun Star - 2013-05-09
Number two, I will definitely institutionalize an office--whether it is a quasi-corporation or not ... most reputable and richest investor you can find in the Philippines: Ayala. Then we brought in so many, within the period of two years, Cebu had Ceboom ...

Sin tax dampens San Miguel liquor sales
Rappler - 2013-05-09
MANILA, Philippines - Ginebra San Miguel Inc, the beverage arm of diversified conglomerate San Miguel Corp, experienced a 30% drop in volume sales after the government implemented a higher excise tax on alcohol products. Speaking on the sidelines of the ...

Ayala Land boosts presence in Cebu
Rappler - 2013-05-09
"All the brands there are going strong in terms of sales take up," said Ysmael. Cebu Holdings Inc., a 49.8% owned unit of Ayala Land, has so far developed two sites in Cebu: the 50-hectare Cebu Business Park and the 27-hectare Cebu I.T. Park. On the ...

Maynilad in negotiation to buy Calapan Ventures
Manila Standard Today - 2013-05-08
The company, a wholly-owned subsidiary of Jolliville Holdings Corp., distributes water in Oriental Mindoro and Kalinga provinces. Vargas did not say if it was Maynilad or parent firm Metro Pacific Investments Corp. that was interested in buying into ...

Court lifts freeze order on Ongpin bank accounts
Rappler - 2013-05-08
He has a controlling stake in property firm Alphaland Corp. and is the largest single investor in San Miguel Corp. through his company Top Frontier Investment Holdings. His net worth is estimated at $1.2 billion. - Rappler.com

AUB to expand in US, Europe
philstar.com - 2013-05-08
MANILA, Philippines - Asia United Bank (AUB), majority-owned by biscuit manufacturer Rebisco Group, is planning to expand its operations abroad over the next three to five years. In its final prospectus submitted to the Philippine Stock Exchange (PSE), AUB ...

Stocks dip; Alcorn, Boulevard advance
Manila Standard Today - 2013-05-08
Boulevard Holdings Inc. was the biggest gainer among the 20 most active stocks, following reports Ayala Land Inc. was close to acquiring its Cavite beach front property. Boulevard Holdings rose 6.4 percent to P0.20 while Ayala Land declined 0.9 percent to ...

BHP Billiton files force majeure note
Manila Standard Today - 2013-05-06
BHP Billiton owns a 60-percent stake in SC 55 while Trans-Asia Oil and Energy Development Corp. holds 6.82 percent and Otto Energy, 33.18 percent. The Palawan Provincial Board has asked BHP Billiton, as the operator, to submit a comprehensive socio ...

2GO, MCC strengthen freight market leadership position
Balita - 2013-05-06
2GO Group remains the number one, despite the reduction in the number of vessels with cargo capability from 17 down to 13 vessels or an 18-percent reduction in fleet size as of December 2012. The company continued with the rationalization of its fleet with ...

Roxas Holdings' earnings up a third on cost cuts
interaksyon.com - 2013-05-06
MANILA - Roxas Holdings Inc (RHI) on Monday said earnings rose by more than a third in the first semester of its fiscal year on the back of better margins and lower costs. In a statement, the listed sugar conglomerate said it pocketed P171 million in the ...

Asia United Bank IPO priced at P95 a share
Inquirer - 2013-05-04
Asia United Bank, owned by the Ng family behind snack food maker Rebisco Biscuit Corp., has priced its initial public offering (IPO) at the middle of the initial range, resulting in heavy oversubscription for the biggest component of the P8.36-billion issue.

Kuwait firm joins Galoc oil project
Inquirer - 2013-05-04
Otto Energy, which owns the operator, Galoc Production Co. WLL, retained its 33-percent interest; Nido Production (Galoc) Pty Ltd. holds a 22.88-percent interest; Oriental Petroleum and Minerals Corp. and Linapacan Oil Gas and Power Corp. jointly own 7.78 ...

Kuwait Petroleum joins Galoc oil field
Manila Standard Today - 2013-05-04
Nido Production (Galoc) Pty Ltd. holds a 22.87952-percent stake; Oriental Petroleum & Minerals Corp. and Linapacan Oil Gas & Power Corp., 7.78505 percent; The Philodrill Corp., 7.21495 percent; and Forum Energy Philippines Corp., 2.27575 percent.

Aboitiz Equity nets P6.8b
Manila Standard Today - 2013-05-03
Aboitiz Equity Ventures Inc., holding company of the Aboitiz Group, ended the first quarter with core net income of P5.5 billion, up 1.3 percent on the strong contribution of its business segments, except for power which recorded an 11 percent decline in ...

Kuwaiti company joins operator of Galoc oil field
Inquirer - 2013-05-03
Otto Energy, which owns the operator Galoc Production Co. W.L.L., retained its 33-percent interest; Nido Production (Galoc) Pty Ltd. holds a 22.87952-percent interest; Oriental Petroleum and Minerals Corp. and Linapacan Oil Gas and Power Corp., jointly own ...