Asian Terminals expands Batangas operations
Philstar - 2013-02-13
MANILA, Philippines - Listed port operator Asian Terminals Inc. (ATI) is expanding its operations at the Batangas Port by providing integrated ports and logistics services at the Batangas Container Terminal (BCT). At the recently concluded Ports and ...

Alliance Select seeks changes in by-laws ahead of Singapore listing
interaksyon.com - 2013-02-12
MANILA - Alliance Select Foods International Inc said it is amending its articles of incorporation to accommodate its expanding business and prepare for its listing in the Singapore stock market. In a disclosure to the Philippine Stock Exchange (PSE), the ...

Philippine Business Bank eyes P3.19B from public offering
Philstar - 2013-02-11
CEBU, Philippines - Through its initial public offering this month, the Yao thrift bank aims to raise P3.19 billion to achieve its plans of reaching 100 branches nationwide by the end of 2013 and expanding its coverage to small and medium enterprises as ...

Philex enters $25-M insurance settlement for Padcal tailings spill
Philstar - 2013-02-11
MANILA, Philippines - Philex Mining Corporation has entered into a $25 million settlement agreement with Chartis Philippines Insurance Inc, to defray the expenses incurred for the tailings spill incident in its Padcal copper-gold mine in Benguet last year.

7-Eleven to accept Air Asia ticket payment
Balita - 2013-02-11
MANILA, Feb. 11 -- Low cost carrier AirAsia Inc. has partnered with leading convenience store, 7-Eleven for payment of airline tickets starting February 28. Freddy Herrera, AirAsia Inc. Commercial head, said payment of AirAsia promo fares will be made ...

Coal Asia completes exploration at Davao Oriental mine ahead of schedule
interaksyon.com - 2013-02-11
MANILA - Coal Asia Holdings Inc said commercial production in its mine in Davao Oriental will begin earlier than expected, adding that a reevaluation of its coal reserves and resources is underway. In a statement, the coal miner said the target date to ...

PNB, Alllied Bank merge today
interaksyon.com - 2013-02-11
MANILA - (UPDATED 2:45 p.m.) After years of talks and several regulatory hurdles, the Philippine National Bank (PNB) and Allied Banking Corp finally merged on Monday. In a disclosure to the Philippine Stock Exchange, PNB, the surviving entity in the merger ...

Coal Asia's Davao mine to open ahead of target date
GMA Network - 2013-02-10
Coal Asia Holdings' mine in Davao Oriental is likely to begin commercial production in October, three months ahead of its original target date of January 2014, the company said in a statement. The early completion of drilling and exploration activities ...

Philex to claim $25-M insurance after mine leak
Rappler - 2013-02-08
MANILA, Philippines - Philex Mining Corp. is set to collect US$25 million (about P1 billion) in insurance claims following its Padcal mine spill incident in August 2012. In a disclosure to the stock exchange on Friday, February 8, the country's biggest ...

ORE unit fined P375,000 for pollution in Palawan nickel mine
interaksyon.com - 2013-02-08
MANILA - The mining unit of Oriental Peninsula Resources Group Inc (ORE) has been slapped with a P375,000 penalty after a silt overflow in its nickel operations in Palawan. In a disclosure to the Philippine Stock Exchange, ORE said silt overflowed in one ...

Ayala Land unit to retail power
Rappler - 2013-02-08
The Ayala group has been slowly beefing up its energy portfolio. Holding firm Ayala Corp has a power arm, AC Energy Holdings Inc, which has recently entered into an agreement with A. Brown Co.'s (ABC) subsidiaries to build a 135 megawatt (MW) power plant ...

Citinickel pays P375,000 fine for Palawan mine spill
Rappler - 2013-02-08
In a disclosure to the stock exchange on Friday, February 8, Citinickel's parent, Oriental Peninsula Resources Group Inc., said it has also constructed additional silting pond to prevent a similar incident in the future. "Yes we confirm that there was an ...

Mega casino to open in March
philstar.com - 2013-02-07
The $1.2-billion Solaire Manila of publicly listed Bloomberry Resorts Corp. has initially hired 400 Filipinos with working experiences in casino hotels across the globe to serve its high-end gaming clients. The casino hotel is situated in the Entertainment ...

Boulevard Holdings nears completion of Puerto Galera project
Philstar - 2013-02-07
MANILA, Philippines - Listed property developer Boulevard Holdings Inc. (BHI) said it expects to complete by June the expansion of its resort project in Puerto Galera. In a disclosure to the Philippine Stock Exchange (PSE) yesterday, BHI said it would ...

Foreign investor raises stake in Victorias Milling
Manila Standard Today - 2013-02-07
A company based in British Virgin Islands further increased its stake in sugar producer Victorias Milling Co. Inc. VMC said in a filing with the stock exchange Premier Network International Ltd. of British Virgin Islands purchased another 157.5 million ...

MJC Investments board approves buy-in by Hong Kong group
interaksyon.com - 2013-02-06
MANILA - MJC Investments Corp (MJCI) told the Philippine Stock Exchange on Tuesday that it has accepted the offer of Hong Kong-based investors to buy into the company and help finance its hotel project in Manila. In a disclosure, the listed company said ...

MJC Investments board approves buy-in by Hong Kong group
interaksyon.com - 2013-02-06
MANILA - MJC Investments Corp (MJCI) told the Philippine Stock Exchange on Tuesday that it has accepted the offer of Hong Kong-based investors to buy into the company and help finance its hotel project in Manila. In a disclosure, the listed company said ...

Who charges most for transactions through other banks' ATMs?
News Philippines Yahoo - 2013-02-06
Philippine Bank of Communications and Philippine Veterans Bank. Related story: Philippines up 10 notches in 'economic freedom' list Among universal and commercial banks, only Citibank Philippines charges no fees for clients who make withdrawals using other ...

SM MOA Celebrates Chinese New Year With Arts, Craft Exhibit
News Philippines Yahoo - 2013-02-05
Chan Lim, a Family of Artists and Students, is a group of artists and engineers bound together by a common interest in the arts and sciences. They have been ... Grace Christian College owners James Tan and Judith Tan, Mr. Chan Lim and Alex Lim of the ...

Senate sets inquiry on Philex mining spill
Philippine Daily Inquirer - 2013-02-05
MANILA, Philippines--The Senate has set an inquiry into the "unprecedented" mine spill that occurred at a mining site of Philex Mining Corporation in the province of Benguet last August 2012. "On August 2012, the country witnessed a mine tailings ...

Senate sets inquiry on Philex mining spill
Philippine Daily Inquirer - 2013-02-05
MANILA, Philippines--The Senate has set an inquiry into the "unprecedented" mine spill that occurred at a mining site of Philex Mining Corporation in the province of Benguet last August 2012. "On August 2012, the country witnessed a mine tailings ...

PLDT gives up control of largest Filipino-owned BPO
Rappler - 2013-02-05
In a disclosure to the Philippine Stock Exchange on Tuesday, February 5, PLDT, still the country's most valuable firm, said it entered into an agreement to sell SPi Global Holdings Inc. (SPi), the largest Filipino-owned BPO and among the world's top 100 ...

PBB sets IPO price at P31.50
philstar.com - 2013-02-03
MANILA, Philippines - Thrift lender Philippine Business Bank (PBB) has finalized the selling price for its shares, with an expected P3.19 billion to be raised from its initial public offering (IPO). "First Metro Investment Corp. and SB Capital Investment ...

Political ad spending to hit P2B; GMA 7, ABS-CBN to get bulk
Philippine Daily Inquirer - 2013-02-01
ABS-CBN Broadcasting Corp. and GMA Network Inc. roughly have a 60-40 share of political ad revenues in broadcasting, although GMA has more profits than ABS-CBN (P2.971 billion to P2.5976 billion). In comparison, political ads soared to P5 billion in the ...

Victorias Milling posts 39% hike in net profit
philstar.com - 2013-02-01
MANILA, Philippines - Listed sugar miller Victorias Milling Co. (VMC) registered a 39-percent growth in net income to P556 million for the financial year ending in August 2012 despite lower milling tonnage. Production data showed that ending Aug. 31,2012 ...

Political ad spending to hit P2B; GMA 7, ABS-CBN to get bulk
Philippine Daily Inquirer - 2013-01-31
ABS-CBN Broadcasting Corp. and GMA Network Inc. roughly have a 60-40 share of political ad revenues in broadcasting, although GMA has more profits than ABS-CBN (P2.971 billion to P2.5976 billion). In comparison, political ads soared to P5 billion in the ...

Tax evasion raps filed vs Ryan Bang
Rappler - 2013-01-31
BIR investigation disclosed that Bang received P993,451.59 in 2010 from the following: ABS-CBN Corp. (P852,274.00), KP & PR & EMS, Inc. (P58,823.53), Summit Publishing Company, Inc. (P2,352.94) and Studio 23, Inc. (P80,001.00). In the year 2011 ...

i-Remit expands network
Inquirer - 2013-01-31
MANILA, Philippines--Cash transfer firm i-Remit Inc. has expanded its local remittance network by signing a partnership with pawnshop operator Eight Under Par Inc., commonly known as Palawan Pawnshop. "The agreement allows a tie-up of the two companies ...

I-Remit ties up with Palawan Pawnshop
Inquirer - 2013-01-30
MANILA, Philippines-The cash transfer company i-Remit Inc. has expanded its local remittance business by signing a partnership with pawnshop operator Eight Under Par Inc., more commonly known as Palawan Pawnshop. "The agreement allows a tie-up of the ...

I-Remit partners with Palawan Pawnshop
interaksyon.com - 2013-01-30
MANILA - I-Remit Inc has partnered with the operator of Palawan Pawnshop to expand its branch network in the Philippines where beneficiaries can pick up their cash remittances. In a disclosure to the Philippine Stock Exchange, the country's largest ...

DOTC to issue new Mactan-Cebu airport bidding rules Feb 1
Rappler - 2013-01-30
Submission and opening of qualification documents was also moved to February 27 from 18. The old rules would have disqualified Cebu Pacific owner JG Summit Holdings Inc. and Philippine Airlines owner San Miguel Corp. from the bidding, leaving only the ...

Lucio Tan holding firm acquires 2 shareholders of Allied Bank
interaksyon.com - 2013-01-29
MANILA - The holding firm for Lucio Tan's businesses has bought shares in two stockholders of Allied Banking Corp as part of its asset restructuring. In a disclosure to the Philippine Stock Exchange, LT Group Inc said it subscribed to 380 million shares of ...

Megaworld taps i-Remit to collect payments of property buyers abroad
interaksyon.com - 2013-01-29
MANILA - Megaworld Corp has signed up I-Remit Inc to improve collection of payments from property buyers based abroad. In a disclosure to the Philippine Stock Exchange, I-Remit said it inked a memorandum of agreement with Megaworld whereby the country's ...

Grand dame of Tagaytay
philstar.com - 2013-01-29
CEBU, Philippines - The Taal Vista Hotel is turning 75 in a couple of years ... Elizabeth T. Sy, President of SM Hotels and Conventions Corporation, shares that several improvements are underway and other refurbishment plans will soon be executed according ...

Phoenix Petroleum grows more than a quarter in 2012
interaksyon.com - 2013-01-29
MANILA - Phoenix Petroleum Philippines Inc on Tuesday said its revenue grew over a quarter last year on account of its expansion. In a disclosure to the Philippine Stock Exchange, Phoenix said its sales increased 26 percent to P34.7 billion in 2012 ...

PSEi climbs to new record at 6,192.42
interaksyon.com - 2013-01-28
Top gainers were iRipple, Philippine Tobacco and Cebu Holdings, while the biggest losers were Jolliville Holdings, Apex Mining and CEU. "There's really a lot of demand for Philippine equities. We're getting a lot of publicity especially with the recent ...

Alliance Select forms Singapore subsidiary
philstar.com - 2013-01-27
MANILA, Philippines - Listed tuna and salmon processor Alliance Select Foods International Inc. has created a Singapore-based subsidiary in preparation for listing in the Singapore bourse. In a disclosure, Alliance Select said it formed wholly-owned ...

Galoc oil field production hits 10M barrels
Inquirer - 2013-01-26
Ltd. (26.84473 percent); Oriental Petroleum and Minerals Corp. and Linapacan Oil Gas and Power Corp. (7.78505 percent); Philodrill Corp. (7.21495 percent), and Forum Energy Philippines Corp. (2.27575 percent).

Alliance Select forms Singaporean unit
interaksyon.com - 2013-01-25
MANILA - After a buying spree of fish processors abroad, Alliance Select Foods International Inc on Friday said it has established a Singaporean unit that would hold its investments. In a disclosure to the Philippine Stock Exchange, the food processor said ...

Puregold spends P300 M to beef up portfolio
philstar.com - 2013-01-22
MANILA, Philippines - Grocery chain Puregold Price Club Inc. spent roughly P330 million to beef up its portfolio by acquiring Eunilaine and Grocer E. In a disclosure, Puregold said it bought 290,000 common shares of Company E Corp. representing its total ...

Cirtek bucks electronics industry downtrend
Rappler - 2013-01-22
MANILA, Philippines - Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Inc. said its earnings grew by double digits last year, defying industry trend. The publicly listed company told the stock exchange on Tuesday, January 22 ...

PNB eyes strategic investor after merger with Allied Bank
Inquirer - 2013-01-21
MANILA, Philippines--Philippine National Bank, the banking arm of tycoon Lucio Tan, may take in a strategic investor only after completing its merger with Allied Banking Corp. within the next 18 to 24 months. Acting PNB president Omar Mier said any merger ...

Robinsons Bank to expand branch network
Philstar - 2013-01-21
On the sidelines of the Banko Sentral ng Pilipinas annual BankersâEUR(TM) Night Friday, JG Summit Holdings Inc. president Lance Gokongwei said Robinsons Bank will put up 30 new branches in restricted areas in Metro Manila over the next three years.

Pepsi launches coffee table book
philstar.com - 2013-01-21
MANILA, Philippines - A newly launched Pepsi-Cola Products Philippines Inc. coffee table book revealed that it was an unselfish desire of a young United States Air Force soldier to share with Filipino consumers his passion for the famous brand of soft ...

Sy group won't control SM-Waltermart venture
Rappler - 2013-01-21
The joint venture deal was forged amid stiff competition from Lucio Co-owned Puregold Price Club Inc., which plans to expand its stores to 200 by 2014. - Rappler.com

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 ...

MJCI secures fresh funding
philstar.com - 2013-01-19
"Our parent company, Manila Jockey Club Inc., remains as the controlling shareholder of the corporation," MJCI said, adding that additional shares will be listed in the local bourse. The transaction value was not disclosed. In October, Manila Jockey ...