Bus pickpockets victimize woman, foreigner
Philippine Daily Inquirer - 2013-01-20
Rodriguez Street Jr. in Cubao, Quezon City, lost her cell phone to three men at 10:30 p.m. Guerra said she was about to alight from a passenger bus in front of the PBCom Tower on Ayala Avenue when an unidentified man blocked her path while two other men ...

Union Bank sets aggressive expansion for City Savings
Philstar - 2013-01-20
MANILA, Philippines - Union Bank of the Philippines plans to aggressively expand the network of City Savings Bank in Luzon, a top bank official said. Justo Ortiz, Union Bank chairman and chief executive officer, said they plan to expand the existing 30 ...

COCKTALES | Market set to elevate ZestO owner to billionaire status
interaksyon.com - 2013-01-20
more than P9.6 billion. Originally named Total Savings Bank, the PBB was one of the two thrift banking licenses awarded by the Bangko Sentral to two aspiring taipans, the other one was for Citystate Savings Bank of insurance and media magnate Antonio ...

PNB-Allied Bank merger moves closer to completion
philstar.com - 2013-01-19
MANILA, Philippines - The merger between Philippine National Bank (PNB) and Allied Banking Corp. is expected to be completed next month, a disclosure to the Philippine Stock Exchange (PSE) said. PNB informed the PSE that it had already secured approval ...

SMC grants P1.5-B cash dividend to preferred stockholders
Philstar - 2013-01-18
SMC is into power (SMC Global), beer (San Miguel Brewery Inc.), packaging (San Miguel Yamamura Packaging Corp.), liquor (Ginebra San Miguel Inc.), petroleum (Petron Corp.), food and beverage (San Miguel Pure Foods Co. Inc.), airline (Philippine Airlines ...

Manila Jockey Club gets HK consortium for tourism project
Inquirer - 2013-01-18
MANILA, Philippines-The Manila Jockey Club group has taken in a consortium of Hong Kong-based investors as a strategic partner in its hotel and tourism estate unit MJC Investments Corp. (MIC) to beef up new capital needed to develop an entertainment hub ...

PNB, Allied to merge in Feb after getting final OK
Rappler - 2013-01-18
MANILA, Philippines (UPDATED) - Philippine National Bank (PNB) will finally merge with Allied Banking Corp. by February after hurdling the remaining stumbling blocks to the transaction. In a disclosure to the Philippine Stock Exchange on Friday ...

Manila Jockey Club gets HK consortium for tourism project
Inquirer - 2013-01-18
MANILA, Philippines-The Manila Jockey Club group has taken in a consortium of Hong Kong-based investors as a strategic partner in its hotel and tourism estate unit MJC Investments Corp. (MIC) to beef up new capital needed to develop an entertainment hub ...

PNB, Allied Bank cleared for merger next month
interaksyon.com - 2013-01-18
MANILA - Philippine National Bank (PNB) on Friday said its planned merger with Allied Banking Corp can proceed next month, after securing all regulatory approvals, the last of which are from the United Kingdom's Financial Services Authority (FSA ...

HK investment banker buys into Manila Jockey Club unit
Rappler - 2013-01-18
MANILA, Philippines - A group of Hong Kong-based investors is acquiring a 33% stake in a unit of Manila Jockey Club, one of Asia's oldest racing clubs, which will pursue casino, entertainment, and other tourism-related ventures, as well as develop the San ...

Hong Kong group set to invest in Manila Jockey Club unit
interaksyon.com - 2013-01-18
MANILA - The property development arm of Manila Jockey Club Inc is set to receive a fresh capital infusion from a consortium of foreign investors. In a disclosure to the Philippine Stock Exchange, MJC Investments Corp said its board accepted the offer of a ...

Hong Kong group set to invest in Manila Jockey Club unit
interaksyon.com - 2013-01-18
MANILA - The property development arm of Manila Jockey Club Inc is set to receive a fresh capital infusion from a consortium of foreign investors. In a disclosure to the Philippine Stock Exchange, MJC Investments Corp said its board accepted the offer of a ...

Search on for outstanding students
Philippine Daily Inquirer - 2013-01-17
TOSP is a commitment of RFM Foundation, RFM Corporation, CHEd, National Book Store, PLDT and TOSP Alumni Community. Interested participants may address their queries to Marnie Racaza of CHEd-7 at (0932) 5617136 or marnieracaza@yahoo.com, Metodio Jr ...

Otto Energy eyes additional oil from Galoc field in 2H
interaksyon.com - 2013-01-17
Ltd. (26.8 percent), Nido Petroleum Ltd (22.8 percent), Oriental Petroleum and Minerals Corp and Linapacan Oil Gas and Power Corp (7.7 percent), The Philodrill Corp (7.2 percent) and and Forum Energy Philippines Corp (2.2 percent).

3 DENR execs sued for graft, suspended for 1 year over land survey plans
Philippine Daily Inquirer - 2013-01-16
MANILA, Philippines--Ombudsman Conchita Carpio Morales has indicted for graft and suspended for one year without pay three regional officials of the Department of Environment and Natural Resources (DENR ... application of the DMCI Holdings, Inc. (DMCI).

Amid rise of casinos, Sta. Ana race track operator mulls future of horseracing
interaksyon.com - 2013-01-16
MANILA - Philippine Racing Club Inc said its horseracing business is "stabilizing," as the company looks to develop its large property in Cavite. Simeon Cua, PhilRacing president and chief executive officer, told reporters that horseracing "has not grown ...

Judge approves Patrick Dempsey's bid to buy Seattle coffee chain Tully's
New York Daily News - 2013-01-15
The "Grey's Anatomy" star won a bankruptcy auction earlier this month, but AgriNurture Inc., which had teamed up with Starbucks for a combined bid of $10.6 million, filed an objection. Dempsey's company, Global Baristas LLC, put in a bid for $9.2 million.

Puregold buys 2 grocery chains
Rappler - 2013-01-14
MANILA, Philippines - Two more supermarket chains will be added to the portfolio of Puregold Price Club Inc., owned by businessman Lucio Co. Puregold said in a Philippine Stock Exchange disclosure Monday, January 14, it is buying Company E Corp., which ...

Ayala Land mulls reviving Pasig River ferry service
Rappler - 2013-01-13
MANILA, Philippines - Real estate developer Ayala Land is looking at the possible re-introduction of ferries along, and the rehabilitation of, the Pasig River to ease traffic within the city. Ayala Land recently launched its P20-billion development plan ...

Sta. Ana comes full circle with Circuit
philstar.com - 2013-01-11
The Sta. Ana Turf Club, the forerunner to what is now the Philippine Racing Club, started when enterprising Filipinos and Americans decided to introduce thoroughbred horse-racing here. The hippodrome closed in 2008. Fast-forward to today, Ayala Land ...

PetroEnergy Resources says Gabon oil consortium to expand production
interaksyon.com - 2013-01-11
MANILA - PetroEnergy Resources Corp (PERC) and its foreign partners are set to expand their oil production facilities in Gabon. PERC said in a statement that the Etame Marin consortium, where the Philippine listed firm has a 2.535 percent interest ...

Road to Exportbank rehab 'getting more difficult'
Rappler - 2013-01-10
MANILA, Philippines - The rehabilitation efforts for the now-closed Export and Industry Bank (Exportbank) are facing serious hurdles, according to the state deposit insurer, citing difficulty in obtaining the consent of some depositors and creditors.

Menlo Capital to become top share holder of MRC Allied
Philstar - 2013-01-10
MANILA, Philippines - Listed holding firm MRC Allied Inc. will convert as much as P1 billion in debts into equity for a major creditor as it prepares for its tourism venture in Cebu. Investment house Menlo Capital will become the largest shareholder in MRC ...

Philex Petroleum coal unit suspends mining operations
Philstar - 2013-01-10
"Brixton Energy and Mining Corp. (BEMC), a wholly owned subsidiary of Philex Petroleum Corporation, has recently been adversely affected by the significant drop in coal prices. In response to this unexpected change in market conditions, it has been ...

MVP-led Philex Petroleum unit suspends coal mining biz
Rappler - 2013-01-10
MANILA, Philippines - Falling coal prices has led the group of Manuel V. Pangilinan to suspend its Mindanao coal mining operations for about 6 months. In a disclosure on Wednesday, January 9, Philex Petroleum Corp. told the exchange that its coal mining ...

APC Group unit bags extension of geothermal exploration contract in Kalinga
interaksyon.com - 2013-01-10
In a disclosure to the Philippine Stock Exchange, APC Group Inc, the parent firm of Aragorn Power, said the government approved the one-year extension of the geothermal renewable energy service contract (GRESC). "The extension, which is allowed under the ...

From word war, Ongpin-BSP drama shifts to legal battle
Rappler - 2013-01-10
The freeze order issued by the court resulted in a big erosion in the value of his shareholdings in publicly listed companies PhilWeb Corp., Alphaland Corp., Atok Big Wedge Co. Inc., ISM Communications and Philippine Bank of Communications, Ongpin claimed.

Local Kuok unit unloads P74-M stake in Caylabne firm
Philstar - 2013-01-09
In a disclosure to the Philippine Stock Exchange, Shang Properties Inc. said it "has agreed to sell its equity in Exchange Properties Resources Corp. (EPRC) to EPRC, representing 35 percent of the equity of EPRC." No further details were provided and ...

Century Properties offers to buy back P800-M shares
Rappler - 2013-01-08
MANILA, Philippines - Luxury property developer Century Properties Group Inc. (CPG) announced its public offer to buy up to P800 million worth of its shares to enhance shareholders' value. In a statement on Tuesday, January 8, the Antonio-led firm said ...

Alcantara group says power projects lifted 2012 profit
Rappler - 2013-01-07
MANILA, Philippines - Alsons Consolidated Resources Inc., the listed holding firm of the Alcantara group, said Monday, January 7, its 2012 earnings probably grew by double digits from the year before on the back of ongoing power projects. In a disclosure ...

COCKTALES | Madrigal-Vazquez feud spills over to California
interaksyon.com - 2013-01-06
PBCom disclosed Friday that, as a result of the capital restructuring of the 74-year-old bank, the Ongpin Group composed of the ex-chairman, ISM Communications and banker-nephew Eric Recto had trimmed down their combined stake to 45.7 percent from 78.63 ...

P219-B capital raised via PSE in 2012 a record high
Rappler - 2013-01-03
MANILA, Philippines - The capital funds raised at the Philippine Stock Exchange (PSE) hit a record high in 2012, buoyed by foreigners flocking to safe-havens and investor confidence in the country improved. In a statement on Thursday, January 3 ...

Calapan Ventures Plans to Build Water System for Philippine City
Bloomberg - 2013-01-03
Calapan Ventures Inc., a unit of Jolliville Holdings Corp., plans to invest about 320 million pesos ($8 million) to build a water system in La Union, the utility said in a statement to the Phillipine Stock Exchange.

Trans-Asia acquires Holcim stake in Bulacan power plant
Philstar - 2013-01-03
MANILA, Philippines - Listed power producer Trans-Asia Oil and Energy Development Corp. has acquired the stake of partner Holcim Philippines Inc. in a diesel power plant in Bulacan province. In separate disclosures, the companies said Trans-Asia purchased ...

PSE suspends trading in 7 non-compliant firms
Philstar - 2013-01-03
Three other firms whose public ownership were below the required 10 percent -- Philcomsat Holdings Corp., Cosmos Bottling Corp. and Nextstage Inc. - were already under trading suspension prior to the Dec. 31, 2012 deadline. Non-compliant firms were ...

Lucio Co-led Puregold to increase outlets to 200 by 2014
Rappler - 2013-01-03
MANILA, Philippines - Supermarket chain operator Puregold Price Club Inc. led by businessman Lucio Co, is eyeing to expand its nationwide reach to 200 outlets -- or 44 more -- in the next two years. In a statement on Thurssday, January 3, Puregold ...

Ongpin decries BSP's 'unfair' treatment
Rappler - 2013-01-03
Ongpin, himself a former member of the BSP's Monetary Board during the Marcos years, said in a December 28 letter to the current Monetary Board that he resigned as chairman of the Philippine Bank of Communications (PBCom) board since he didn't want the ...

Real estate sector fastest growing industry in Cebu
Philippine Daily Inquirer - 2013-01-02
Monera, Cebu Holdings, Inc.president. Cebu Holdings, Inc. is an affiliate of Ayala Corporation engaged in real property development, ownership and management. Their projects include the Cebu Park Districts - Cebu IT Park and Cebu Business Park which ...

Premiere buys into operator of future serviced apartment in Makati
interaksyon.com - 2013-01-02
MANILA - As part of its diversification, Premiere Horizon Alliance Corp is investing in a company that has an interest in an upcoming boutique serviced apartment project in Makati. In a disclosure to the Philippine Stock Exchange, Premiere Horizon said it ...

San Miguel Brewery considers delisting from PSE
Rappler - 2013-01-02
Trading in the company and 6 other public float-deficient firms was suspended on Wednesday. The 6 firms include: Three companies -- Philcomsat Holdings Corp., Cosmos Bottling Corp. and Nextstage Inc. -- which also fall short of the public float rule were ...

Ongpin leaves PBCom
Inquirer - 2013-01-02
MANILA, Philippines-Former Trade Minister Roberto V. Ongpin has stepped down as director and co-chair of commercial bank Philippine Bank of Communications. PBCom disclosed to the Philippine Stock Exchange a letter from Ongpin quitting these posts dated ...

Bourse suspends trading in 7 listed firms that fall short of public float rule
interaksyon.com - 2013-01-02
Trading of shares in Philcomsat Holdings Corp, Cosmos Bottling Corp and Nextstage Inc remain suspended for other disclosure violations. Public ownership in these three companies also falls below the 10 percent minimum required by the local bourse.

Destiny Cable's sale to Sky Cable OKd
Rappler - 2012-12-31
"The sale of cable TV and broadband Internet assets and subscribers of DCI, SBC and UNI to Sky Cable will mean incremental EBITDA to Sky Cable of about P350 million per year," ABS-CBN Corp., which owns Sky Vision, stated in a disclosure to the stock ...

PSEi retreats below 5,800
interaksyon.com - 2012-12-27
Top gainers were Cirtek, First Abacus and Benguet Corp, while the biggest losers were Southeast Asia Cement, Mabuhay Holdings and Easycall Communications. "The local mart corrected as investors booked profits following a record close yesterday," said ...

BDO International sells 10% JV stake to Indian partner Haribhakti
Economic Times - 2012-12-27
MUMBAI: BDO International, the $6-billion Belgium-based audit and accounting firm, will call off its four-year joint venture BDO India with Haribhakti Consulting by selling its 10% stake to its Indian partner, a senior company officials said. "We have ...

BDO International sells 10% JV stake to Indian partner Haribhakti
Economic Times - 2012-12-27
MUMBAI: BDO International, the $6-billion Belgium-based audit and accounting firm, will call off its four-year joint venture BDO India with Haribhakti Consulting by selling its 10% stake to its Indian partner, a senior company officials said. "We have ...

BDO ends non-life insurance joint venture with Generali
interaksyon.com - 2012-12-26
MANILA - BDO Unibank Inc has dropped its non-life insurance business with Generali Philippines. In a statement, BDO said it would give up its three-year joint venture starting January 1, 2013, as the lender would focus instead on life insurance. "After ...

Fiery Christmas Eve in Manila, Pasig
Philippine Daily Inquirer - 2012-12-24
The blaze spread to the neighboring Ongsiako and Sun Master commercial buildings before firemen declared it under control around 10 a.m. The three buildings housed the local branches of Asia United Bank and PSBank, as well as stockrooms and shops that sell ...

COCKTALES | Ford-Mazda divorce simmers over signage
interaksyon.com - 2012-12-24
The Gerodias Suchianco Estralla law firm has virtually taken over the board of the Cyber Bay Corp. after San Miguel's Ramon S. Ang and lawyer Peter Suchianco stepped down as chairman and president, respectively, of the listed but dormant developer.

3 hurt as firecrackers trigger 10-hour fire in Divisoria
Philippine Daily Inquirer - 2012-12-24
The fire also damaged the signage of Philtrust Bank across Tabora Street but it was quickly put out. The estimated cost of damage was not available as of press time but police said the fruits alone would cost millions of pesos. Radio reports said at least ...