PDIC to liquidate failed Exportbank
Rappler - 2013-04-16
MANILA, Philippines (UPDATED) - With no white knight to help it get back on its feet, Export and Industry Bank (Exportbank) will close its doors for good. State-run insurer Philippine Deposit Insurance Corp. (PDIC) announced Tuesday, April 16 ...

Local stocks slide lower for second straight session
interaksyon.com - 2013-04-16
Most active stocks of the day were SM Investments, Ayala Corp, Ayala Land, PLDT and BDO Unibank. Top gainers were Imperial Resources "A", DFNN, ATN Holdings "A", Bankard, and Shang Properties. Biggest losers were Mabuhay Vinyl, Republic Glass, Liberty ...

Local stocks slide lower for second straight session
interaksyon.com - 2013-04-16
Most active stocks of the day were SM Investments, Ayala Corp, Ayala Land, PLDT and BDO Unibank. Top gainers were Imperial Resources "A", DFNN, ATN Holdings "A", Bankard, and Shang Properties. Biggest losers were Mabuhay Vinyl, Republic Glass, Liberty ...

Anchor Land allots P5b for new projects
Manila Standard Today - 2013-04-16
Property developer Anchor Land Holdings Inc. said Monday it has earmarked P5 billion this year to pursue new residential and commercial projects after booking a record net income and revenues in 2012. Anchor Land chairman Stephen Lee said in a statement ...

Anchor Land 2012 income jumps 22% to P1-B
Rappler - 2013-04-15
MANILA, Philippines - Property company Anchor Land Holdings Inc. posted a 22% jump in its 2012 net income to P1.03 billion from P841.7 million on the back of strong performance of its commercial and residential projects. In a disclosure to the PSE on ...

Metrobank, PSBank to add 30 branches in 2013
Rappler - 2013-04-15
"The plan is to add at least 30 branches in 2013. The idea is to open (these branches ... The 30 additional branches will be for parent Metrobank and thrift arm Philippine Savings Bank (PSBank). The expansion project will bring the company's consolidated ...

BIR: Kris Aquino, Smart top taxpayers
Philstar - 2013-04-15
The Manila Electric Company (Meralco) paid P8.3 billion in taxes while oil giant Shell Philippine Exploration retained its 2010 third-place ranking with P6.26 billion worth of taxes. Top 10 taxpayers: Top corporate taxpayers In 2010, Aquino was only the ...

PCGG to sell Imelda Marcos jewelry, Pasig prime property in next 2 years
Philippine Daily Inquirer - 2013-04-14
The shares of stock to be sold are those in Benguet Consolidated Inc., Lepanto Consolidated Mining Co., Oriental Petroleum ... Philodrill Corp., Showa United Food Inc., Philippine Oil Geothermal Energy Inc., Trans-Asia Oil and Mineral Corporation, Phil.

PCGG to sell Imelda Marcos jewelry, Pasig prime property in next 2 years
Philippine Daily Inquirer - 2013-04-14
... to be sold are those in Benguet Consolidated Inc., Lepanto Consolidated Mining Co., Oriental Petroleum and Mining Corp., Radio Phils. Network Inc., Marcventures Holdings Inc., Atlas Consolidated Mining and Development Corp., PAL Holdings Inc ...

36-yr-old embraces farming, sees huge potential
Philippine Daily Inquirer - 2013-04-13
Businessman Antonio Tiu of AgriNurture Inc., the first and only purely agricultural ... share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

San Carlos BioPower breaks ground for bagasse-fired plant
Philstar - 2013-04-13
The company, controlled by listed firm Greenergy Holdings Inc., would start the construction of the project to meet its December 2014 target completion date, said DOE director Mario Marasigan. Biomass facilities are becoming more popular. These facilities ...

Lopez Holdings nets P4.5b
Manila Standard Today - 2013-04-13
Conglomerate Lopez Holdings Inc. said Friday net income in 2012 grew 13.5 percent to P4.53 billion from P3.99 billion in 2011, on higher earnings from equity investments. LHI has investments in power generation, manufacturing, real estate and broadcasting.

Sta Lucia ventures into home building
philstar.com - 2013-04-12
Its project Colinas Verdes, a masterplanned community in San Jose del Monte, Bulacan is a joint venture with Araneta Properties Inc. Sta. Lucia has also partnered with the Yulo family for Carmel Ridge and Morning Fields at Carmeltown in Calamba and ...

Maynilad to build P166.5-M Cavite pump station
Rappler - 2013-04-12
The money will be directed towards the improve of its services in Muntinlupa, Las Piñas, Parañaque and Cavite. Maynilad is jointly owned by Manny Pangilinan's Metro Pacific Investments and and Consunji-led DMCI Holdings. In Metro Manila, Maynilad's ...

MPIC, Ayala, SMC, Sy vie for MRT-LRT ticketing system
Rappler - 2013-04-12
MANILA, Philippines - The country's largest conglomerates are among the 9 groups that have been submitted documents to the Department of Transportation and Communications (DOTC) to qualify for the P1.72 billion automated ticketing system for the Metro Rail ...

AG Finance plans IPO
Manila Standard Today - 2013-04-10
The company is also offering tuition assistance program. Other IPO applications filed with the SEC are those of Asia United Bank, Discovery World Corp. and Henga Group Holdings Corp. The first company to list this year was Philippine Business Bank.

PCGG hounds past execs: Return excess pay, allowances or face graft raps
Philippine Daily Inquirer - 2013-04-10
Ten former government-appointed directors in two sequestered companies risk being haled to court for the excessive pay and allowances they allocated for ... Soriano Corp. (Anscor) shares in 2006. The Ombudsman also took Sabio to account for not liquidating ...

Cement makers asked to explain price hike
philstar.com - 2013-04-09
Trade Undersecretary Zenaida Maglaya cited Holcim Philippines Inc. which has raised its selling price to P218 per bag from P195 last year. Likewise, Lafarge Republic Inc. which sells the Republic brand and Cemex Philippines Group of Companies which carries ...

PBCom launches personal loans
Philstar - 2013-04-09
MANILA, Philippines - The Philippine Bank of Communications (PBCom) is offering PBCom Personal Loan, a personal loan package to assist clients with finance needs that may fall beyond their day-to-day expenses. The PBCom Personal Loan is a cash solution ...

Cop survives violent carjacking
philstar.com - 2013-04-07
Tonga said Ramal met Dalusong at Ever Gotesco Mall and another man boarded the vehicle as it reached Barangay Plazang Luma in Arayat. As Ramal drove through a dimly lit portion of Barangay Camba in the same town, the second man he picked up pointed a ...

More car sales after PH credit upgrade
Rappler - 2013-04-06
Berjaya Auto, which distributes Mazda cars in the Philippines, has positive sales projections for ... it is still competitive against Japanese and Korean cars. Car sales in the country grew by 42% to 26,588 units in January-February 2013 compared to ...

Ten tech startups win P5 million funding each
smart.com.ph - 2013-04-06
Winners will also receive services, mentoring and assistance from IdeaSpace partners such as Amazon, Asian Institute of Management, Freelancer.com, Ionics, IPO Philippines, Microsoft Philippines, Adamson University and the University of the Philippines ...

Philex names new CEO
Philstar - 2013-04-05
Austin also serves as a director of Philex Petroleum Corporation and is a director and president of the Silangan Mindanao Mining Co. Inc. Austin will head the company at a time of recovery of its copper-gold mine in Padcal, Benguet which suffered a massive ...

SM agrees to preserve historic Philamlife Theater
Philippine Daily Inquirer - 2013-04-05
Music lovers can rest easy after residential property developer SM Development Corp. (SMDC) said it would "save and preserve" the "culturally historic" Philamlife Theater in Manila following pleas from heritage conservation advocates. In a ...

BPI launches first online queuing system for bank transactions
Balita - 2013-04-05
MANILA, April 5 -- The Bank of the Philippine Islands (BPI) unveiled on Friday the BPI Express ... the official launching at the Main Dining Hall of the 1851 Club, BPI Head Office Building, Makati City. "BPI leverages on the uses of technology to ...

AFP chief welcomes Jonas Burgos probe
Rappler - 2013-04-04
He was abducted by unidentified men on April 28, 2007, in Hapag Kainan restaurant at the Ever Gotesco Mall in Quezon City. (Read: Jonas Burgos: Trapped in a web of lives) Bautista said they will also follow the court's directive to continue the investigation.

SMDC vows to preserve PhilAm Life Theater
Rappler - 2013-04-04
MANILA, Philippines - Petitioners for the preservation of the historic PhilAm Life Theater had their hopes renewed on April 4 when SM Development Corporation (SMDC) announced that it would save the structure. Here is SMDC's official statement: SM ...

Megaworld unveils P65-B Fort Boni township project
Rappler - 2013-04-03
MANILA, Philippines - Megaworld Corp., the property arm of tycoon Andrew Tan, on Wednesday, April 3, launched Township, a 15-hectare mixed-use development in the property firm's Uptown Bonifacio project in Taguig City. Megaworld, the biggest landholder ...

PBCom to offer personal loans to professionals, businessmen, employees
Inquirer - 2013-04-03
MANILA, Philippines--Philippine Bank of Communications (PBCom) seeks to grow its consumer lending portfolio with the rollout of a personal loan package for qualified professionals, business owners and salaried employees. The personal loan package caters ...

Ongpin case no impact on Alphaland - exec
Rappler - 2013-04-03
MANILA, Philippines - High-end property firm Alphaland Corp. was not affected by the move ... listed companies PhilWeb Corp., Alphaland Corp., Atok Big Wedge Co. Inc., ISM Communications and Philippine Bank of Communications. He disclosed his ...

DMCI: Palawan power plant to use clean coal
Manila Standard Today - 2013-04-03
DMCI Power Corp. is building a power plant in Palawan to avert a looming power crisis in the fast-growing province, which thrives on tourism as a main industry. DMCI Power will use the newest and cleanest coal technology in the proposed 15-megawatt coal ...

ORE eyes new smelting plant site
Manila Standard Today - 2013-04-03
Citinickel Mines and Development Corp., the mining unit of listed Oriental Peninsula Resources Group Inc., abandoned its plan to build a smelting plant in Palawan which is experiencing a power shortage. Citinickel president Ferdinand Pallera said the ...

Filinvest new high-rise project provides cosmopolitan lifestyle
Sun Star - 2013-04-02
Academic institutions such as Don Bosco College, Assumption College, Mapua Institute of Technology, Centro Escolar University, and Asian Institute of Management, and hospitals like Makati Medical Center and Ospital ng Makati are within easy reach ...

PGMC asks Aquino to intervene in PCSO lotto row
Rappler - 2013-04-02
MANILA, Philippines - Berjaya-led Philippine Gaming Management Corp. (PGMC), which operates and leases online lottery machines in Luzon, wants President Benigno Aquino III to intervene in its legal row with the state-run Philippine Charity Sweepstakes ...

Lack of power, cool reception in Palawan may derail ORE's nickel processing project
interaksyon.com - 2013-04-02
MANILA - The nickel subsidiary of Oriental Peninsula Resources Group Inc (ORE) plans to build its own processing plant to generate more revenues from its mine in Palawan. Ferdinand Pallera, Citinickel Mines and Development Corp president, said the company ...

Cambodian, Phl conglomerate sign deal to establish new airline
philstar.com - 2013-04-02
The agreement was inked between Cambodian tycoon Kith Meng, president of Cambodia Airlines, and Ramon S. Ang, president of San Miguel Corporation and Philippine Airlines, under the presence of Cambodian Deputy Prime Minister and Cabinet Minister Sok An.

Trans-Asia plans to drill 3 oil wells
Manila Standard Today - 2013-04-02
Trans-Asia Oil and Gas Development Corp., a unit of the Phinma Group, said it will participate in the drilling of three exploration wells in west Palawan, northwest Leyte and Cagayan province this year. Trans-Asia said in a company report the drilling ...

PNB starts renovation of branches
philstar.com - 2013-04-01
MANILA, Philippines - The Philippine National Bank (PNB) has started the renovation of its branches to carry the new retail branch design after its merger with Allied Banking Corp. in February this year. In a statement, PNB said it recently renovated its ...

Coal Asia finds P4.1-B reserves in Mindanao
Philstar - 2013-04-01
MANILA, Philippines - Listed Coal Asia Holdings Inc. has found P4.1 billion worth of coal reserves in a portion of its mining area in Mindanao. In an updated evaluation of its mineable coal reserves, Coal Asia said 400 hectares out of its 13,000-hectare ...

Coal Asia cites new study valuing 2 mine sites at P4.1-billion
interaksyon.com - 2013-04-01
MANILA - Coal Asia Holdings Inc on Monday said a new third-party study on three percent of its 13,000-hectare concession area in Davao Oriental valued the mineable reserves at P4.1 billion, allowing the company to recover its investment in less than a year.

Melco names former Genting exec to lead Phl operations
philstar.com - 2013-04-01
MANILA, Philippines - Macau-based casino giant Melco Crown Entertainment Ltd. has appointed a former executive of Genting Malaysia Berhad to lead its Philippine operations. The newly-hired industry expert will drive the profitability and customer ...

Conquering the local mining industry
Philstar - 2013-04-01
The diminutive president and chair of listed mining firm Oriental Peninsula Resources Group Inc. (ORE) is now burrowing deeper into the extractive industry, with big aspirations for two new nickel mines in southern Palawan and intentions of opening new ...

New Makati mall to open in Q4
Rappler - 2013-04-01
MANILA, Philippines - A new standalone mall by the Antonio-led Century Properties group is set to open to the public in the 4th quarter of 2013. In a statement on Monday, April 1, the listed property firm said construction of the Century City Mall in ...

Melco hires Genting exec for PH casino
Rappler - 2013-03-29
... hired a key executive of Genting Malaysia Berhad to head Melco's Philippine casino operations. In a disclosure to the PSE on March 27, Melco Crown (Philippines) Resorts Corp. announced that Dato' Kevin Sim, the executive vice-president for Genting's ...

DPWH Starts 4-Day Reblocking Works
News Philippines Yahoo - 2013-03-27
and the southbound segment from Guadalupe Bridge to San Carlos Seminary along EDSA. Singson said these road sections shall be opened to traffic before 5 a.m. on Monday, April 1 after repair works are completed. The DPWH-National Capital Region district ...

'Monster rally' lifts stock market to new all-time high after Fitch upgrade
interaksyon.com - 2013-03-27
Actively traded stocks were BDO, PLDT, Ayala Corp, SM Investments and URC. Top gainers were Central Azucarera, ATN Holdings and Filipino Fund, while the biggest losers were Global Port, United Paragon and Century Peak. Investors largely anticipated the ...

PH stocks rise for 4th straight day in Holy Week bargain-hunt
Inquirer - 2013-03-27
Other non-index stocks that gained in heavy trade were Boulevard Holdings (+4.58 percent) and LT Group (+1.91 percent). LTG is expected to announce a follow-on equity offering of as much as $800 million after Easter. Don't miss out on the latest news and ...

San Miguel, Lucio Tan in joint bid for Cebu airport
Rappler - 2013-03-26
as well as Lopez-led First Philippine Holdings Corp., Henry Sy's Premier Airport Group, Filinvest Development Corp. and Prime Power Holdings Corp. Foreign firms such as Malaysia Airports Holdings Berhad, Samsung C&T Corp., SG&V Co., Changi Airports ...

Medco prepares entry of investor in possible backdoor listing
interaksyon.com - 2013-03-26
MANILA - Medco Holdings Inc is preparing for the entry of an investor raring to go public through the back door, market sources told InterAksyon.com. On Monday, the Philippine Stock Exchange (PSE) called Medco's attention to the "unusual price movement ...

Phinma unit receives second P300-M loan
Rappler - 2013-03-26
MANILA, Philippines - Phinma Corp. subsidiary Union Galvasteel Corp. (UGC) received its second P300-million, 5-year term loan on Tuesday, March 26. The loan, which came from Security Bank, will be used to refinance a previous loan to reduce interest ...