Export and Industry Bank collapses
Rappler - 2012-04-27
one of the Philippines' most high profile bank closures, itself collapsed. On Friday, April 27, Export and Industry Bank, also known as Exportbank, declared a bank holiday a day after the policy-making body of the Bangko Sentral ng Pilipinas (BSP ...

PSBank says Corona trial has no impact on profit
Rappler - 2012-04-27
MANILA, Philippines - The impeachment trial of Chief Justice Renato Corona had no impact on the earnings of Philippine Savings Bank (PSBank), one of the banks where Corona maintains deposit accounts. In fact, PSBank's net income shot up 94% in the first ...

Manila Water completes Balara plant upgrade
Philstar - 2012-04-25
MANILA, Philippines - Ayala-led Manila Water Company Inc. has completed the P300-million process and capacity upgrade of its oldest plant, the Balara Water Treatment Plant 1. Manila Water said in a statement yesterday that the project improved the capacity ...

Metrobank elects Ty as new chair, Dee as president
Rappler - 2012-04-25
MANILA, Philippines - Changes at the top at Metropolitan Bank & Trust Co. (Metrobank) were confirmed on Wednesday, April 25, ending speculations on who will be the new leaders at the country's second largest bank. After the annual stockholders meeting ...

With bigger reserves than Malampaya, Recto Bank drilling a go
Rappler - 2012-04-25
MANILA, Philippines - A unit of Philex Mining Corp. announced on Wednesday, April 25, that it will proceed with a $75-million drilling program at the contested Recto Bank after new data showed an "improvement in the resources" of the gas-rich area. In a ...

Philippines Eyes Natural Gas In Disputed South China Sea
International Business Times - 2012-04-24
Philippine exploration company Philex Petroleum Corp. said Tuesday that it has found a larger-than-expected reserve of natural gas under the Reed Bank, which sits some 90 miles from the Philippine island of Palawan. But the area is the site of tensions ...

Philex confirms discovery at Recto Bank
interaksyon.com - 2012-04-24
Officials of Atok-Big Wedge Co. had told shareholders during its annual meeting that a report from experts commissioned to assess Service Contract (SC) 72 in Reed Bank has yielded a "world-class discovery." According to Energy Undersecretary Jay Layug ...

UFL partners with Megaworld for new football homefield
interaksyon.com - 2012-04-24
The United Football League struck a deal to use the artificial pitch that will be constructed by real estate giant Megaworld Corporation at McKinley Hill in Taguig City. The field will be known as the McKinley Hill Football Field. Present at the contract ...

Local News | Sun.Star
Sun Star - 2012-04-23
SAN SIMON -- The Philippine National Police (PNP) and the Philippine Drug Enforcement Agency (PDEA) has cleared five barangays here where Quezon Road, the alleged location of illegal drug factories, crosses through.

Atok-Big Wedge shifts focus to oil, gas exploration
Inquirer - 2012-04-23
Atok-Big Wedge Co., the mining and oil unit of the group of former Trade Minister Roberto Ongpin, will focus its resources on oil and gas exploration instead of mining and is particularly upbeat on its new investment in the Sampaguita offshore gas discovery.

'World-class discovery' in Recto Bank, Philippine oil exploration company announces
interaksyon.com - 2012-04-23
Officials of Atok-Big Wedge Co. told shareholders during its annual meeting that a report from experts commissioned to assess Service Contract (SC) 72 in Reed Bank has yielded a "world-class discovery." Walter Brown, Atok vice chairman, said the board ...

Recto Bank natural gas reserves bigger than those in Malampaya -- DoE
interaksyon.com - 2012-04-23
Officials of Atok-Big Wedge Co. had told shareholders during its annual meeting that a report from experts commissioned to assess Service Contract (SC) 72 in Reed Bank has yielded a "world-class discovery." According to Energy Undersecretary Jay Layug ...

Belle's Pagcor City casino project faces delay
Rappler - 2012-04-22
The investors consider the road a worthwhile investment since it will cut down travel time between the casinos and the airport. Gana said, "It will obviously help the Pagcor city in terms of infrastructure." - Rappler.com

UP graduation rites include protest by militant students, BOR members
Philippine Daily Inquirer - 2012-04-22
The higher education institution gave an honorary degree to Lopez Holdings emeritus chair Oscar Lopez. Just like his father, the late Eugenio Lopez Sr., Lopez received a Doctor of Laws honoris causa from the university. Lopez was given the honorary degree ...

AgriNurture more than doubles earnings, exports
interaksyon.com - 2012-04-22
MANILA, Philippines - AgriNurture Inc. (ANI) more than doubled its profit last year on the back of "solid gains" across units comprising its "farm-to-plate model," the company's chief executive Antonio Tiu said. In a statement, Tiu said the company earned ...

JAZA: Ayala Corp will go into mass market
Rappler - 2012-04-21
MANILA, Philippines - Known for quality products and catering to upscale consumers, Ayala Corp is embarking on a new business strategy. The Philippines' oldest conglomerate is expanding its offerings to "lower and lower income groups in the country," CEO ...

Ex-Pagasa chief Yumul in Atok mining board
Rappler - 2012-04-20
MANILA, Philippines - Former weather bureau chief Graciano Yumul Jr. is now a director of Atok-Big Wedge Co. Inc, the mining firm controlled by businessman Roberto Ongpin. At the annual stockholders' meeting of Atok on Friday, April 20, Ongpin introduced ...

BDO leasing arm expects pickup in business, ups capex
interaksyon.com - 2012-04-19
MANILA, Philippines - BDO Leasing and Finance Corp. told the Philippine Stock Exchange that it is "better positioned" for growth this year as companies plan to increase their capital expenditure given the positive outlook on the economy. The company ...

Philippine Stocks: Benguet Corp., Geograce Resources, SM Prime
Bloomberg - 2012-04-11
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila. The Philippine Stock Exchange Index fell for a fourth day, losing 0.1 percent to 5,017.44, the ...

SM uproots trees in Baguio, triggers protests
Rappler - 2012-04-11
Trees intercept and absorb pollutants," Prof John Tacloy, professor at the Benguet State University College of Forestry, told Rappler in a January interview. The Luneta Hill area from which the trees will be moved is one of the few areas in the city where ...

E-Games sees sustained growth
Philstar - 2012-04-10
MANILA, Philippines - IP E-Game Ventures Inc., the listed online gaming subsidiary of IP Ventures Inc., is banking on its retail business through Internet cafés and online games for continuous growth this year. Additional revenues will come from new hotel ...

Income Tax Filing Deadline Extended
News Philippines Yahoo - 2012-04-10
The BIR-listed AABs include Philtrust Bank, China Bank, Citibank, the Development Bank of the Philippines, EastWest Bank, HSBC, MetroBank, Philippine National Bank, Philippine Veterans Bank, Rizal Commercial Banking Corporation (RCBC), Land Bank of the ...

Kris Aquino is one of the highest paid celebrities and taxpayers for 2010
pep.ph - 2012-04-09
ABS-CBN Corp. chairman and CEO Eugenio "Gabby" Lopez III is at No. 248 with a total taxable income of P18.4 million and paid P5.8 million in taxes. OTHER CELEBS. Other celebrities and personalities who are also on the list are: Kim Chiu (No. 131 ...

Philippine Equity Movers: Jollibee Foods, Philex Mining, TKC
Bloomberg - 2012-04-04
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila. The Philippine Stock Exchange Index fell 0.4 percent to 5,038.92. Jollibee Foods Corp. (JFC PM ...

Former SC justice joins Citystate Savings
Philstar - 2012-04-03
MANILA, Philippines - Citystate Savings Bank has elected former Supreme Court Justice Jose R. Melo as a member of its board of directors. Melo will sit as an independent director of the bank. Amb.Antonio L. Cabangon Chua is the board chairman. Melo was ...

PNOC to jump-start Batman 1 project
interaksyon.com - 2012-04-01
Among the companies that had expressed interest in the project were San Miguel Corp., Abacus Consolidated Resources & Holdings Inc., PTT, Marubeni Corp., Gazprom and Petrochina Co. Ltd. The first phase of Batman 1 involves the installation of 100 ...

PNOC to jump-start Batman 1 project
interaksyon.com - 2012-04-01
Among the companies that had expressed interest in the project were San Miguel Corp., Abacus Consolidated Resources & Holdings Inc., PTT, Marubeni Corp., Gazprom and Petrochina Co. Ltd. The first phase of Batman 1 involves the installation of 100 ...

Fernando Zobel de Ayala survives triathlon crash
Philippine Daily Inquirer - 2012-03-31
Business tycoon Fernando Zobel de Ayala crashed on his bicycle during the Pico de Loro Triathlon event in Nasugbu, Batangas, Saturday and was evacuated by helicopter to Manila for treatment. He is now reported to be in stable condition. The 52-year-old ...

Fernando Zobel de Ayala survives triathlon crash
Philippine Daily Inquirer - 2012-03-31
Zobel de Ayala also chairs Ayala Land Inc. and Manila Water Co. Inc. and is a director at Bank of the Philippine Islands, Globe Telecom and Integrated Micro-Electronics. He is a veteran of local and international events in triathlon--a competition that ...

Globalport eyes $200 million for acquisitions
Philstar - 2012-03-29
MANILA, Philippines - Publicly-listed Globalport 900 is looking to acquire five new domestic ports and three international facilities this year as it is set to raise at least $200 million to finance a nationwide network of ports. In an interview ...

36. Medco Health Solutions
CNN Money - 2012-03-29
In the fourth quarter alone, Medco saw a 15% increase from the previous quarter in mail orders for generic drugs, reaching a record $20.1 million in sales. In July, Express Scripts Inc. announced its plans to acquire the company for $29.1 billion ...

Port operator plans $200 million share sale for acquisitions abroad
interaksyon.com - 2012-03-28
CLARK FREEPORT, Philippines - Globalport 900 Inc. plans to raise $200 million by the end of the year to acquire seaports in Visayas and Mindanao. Michael Romero, chairman of the company once called MIC Holdings Inc., told reporters that the proceeds of ...

Port operator plans $200 million share sale for acquisitions abroad
interaksyon.com - 2012-03-28
CLARK FREEPORT, Philippines - Globalport 900 Inc. plans to raise $200 million by the end of the year to acquire seaports in Visayas and Mindanao. Michael Romero, chairman of the company once called MIC Holdings Inc., told reporters that the proceeds of ...

ORE to triple nickel production
Philstar - 2012-03-26
MANILA, Philippines - Publicly-listed Oriental Peninsula Resources Group Inc. (ORE) will triple production of its nickel mining unit this year as tight supply in the region has upped demand for this prized metal. Caroline Tanchay, chairman and president of ...

Trans-Asia eyeing 20% hike in 2012 profit
interaksyon.com - 2012-03-26
Fransisco Viray, Trans Asia Oil and Energy Development Corp. president, said the company expects net income to increase by 20 percent this year once open access and the company's new power plants are up and running on account of a projected increase in ...

Testimonials of Bachelor of Secondary Education Graduates from the Philippines
finduniversity.ph - 2012-03-26
I am an English as a Second Language (ESL) Teacher. This kind of job teaches foreigner where their first language is not English like Japanese and Korean. We teach them the "Macro skills" that includes Reading, Speaking, Listening and Writing. Also, we ...

Ombudsman orders dismissal of 14 DOF execs in tax scam
Philstar - 2012-03-24
Filsyn Corp., Hi-Lon Manufacturing Co., Canlubang Spinning Mills, Pacific Mills, Inc., Golden Dragon Textile Mills, Inc., First Unity Textile, Padoson Stainless Steel, Pacific Mills and Pilipinas Shell Petroleum Corp. Morales also ordered the filing of ...

GMA unit forms JV with Manila Jockey Club
Philstar - 2012-03-24
MANILA, Philippines - Media solutions firm GMA New Media Inc. and Manila Jockey Club have formed a P100-million joint venture corporation as part of efforts to expand the market of the present horse-racing industry. The new firm called Gamespan Inc ...

14 DOF execs linked to P82-M tax credit scam axed
interaksyon.com - 2012-03-24
Morales said the IMCMI's certificates were transferred to other corporations such as Wise & Co., Bush Boake Allen Phils, Filsyn Corporation, Hi-Lon Manufacturing Company, Canlubang Spinning Mills Inc., Golden Dragon Textile Mills Inc., First Unity Textile ...

13 Finance execs ordered sacked
Philippine Daily Inquirer - 2012-03-23
Filsyn Corporation, Hi-Lon Manufacturing Co., Canlubang Spinning ... Bus Line), Candido Potenciano (president of the Batangas Laguna Tayabas Bus Company), Joselito Tengco (manager of Baliwag Transit Inc.), three counts each; Henry Tumala, (president ...

13 Finance execs ordered sacked
Philippine Daily Inquirer - 2012-03-23
The TCCs were also transferred to various corporations such as Wise & Co., Bush Boake Allen Phils., Filsyn Corporation, Hi-Lon Manufacturing Co., Canlubang Spinning Mills, Pacific Mills Inc., Golden Dragon Textile Mills Inc., First Unity Textile ...

P702 million joint venture: Capitol, Ayala ink water pact
Philstar - 2012-03-22
Ayala Corporation has invested in a real estate company and subsidiaries like the Cebu Holdings, Inc. and the Cebu Property Venture and Development Corporation. Ayala thanked Cebu leaders for supporting the project for nearly a decade. The bulk water ...

'Omission in SALN an admission of guilt'
philstar.com - 2012-03-20
Aside from these assets, the prosecution has shown that Corona had P31 million in bank deposits as of Dec. 31, 2010, in addition to an undetermined amount of dollars in five accounts with Philippine Savings Bank. Senators, including Senate President Juan ...

DILG probe team given 45 days to determine cause of Ever Gotesco fire
interaksyon.com - 2012-03-20
MANILA, Philippines -- (UPDATE - 6:12 p.m.) A special task of the Department of Interior and Local Government to investigate the fire that gutted the Ever Gotesco Central Mall in Caloocan City has been given 45 days to determine the cause of the blaze ...

Petron offers to buy out minority owners in Esso Malaysia
Rappler - 2012-03-19
MANILA, Philippines - Local oil refiner and retailer Petron Corp. has offered to buy the remaining 35% stake of minority shareholders in Esso Malaysia Berhad (EMB), its recently acquired unit in Malaysia. In a disclosure on Monday, March 19, Petron said ...

Fire out at Ever Gotesco mall, but questions linger
interaksyon.com - 2012-03-18
MANILA, Philippines - Fire that raged for two days at the Ever Gotesco mall in Monumento, Caloocan City was finally put under control on Sunday, but local officials are pushing a full inquiry. Caloocan Mayor Recom Echiverri said that while the fire has ...

Fire at Ever Gotesco raging 18 hours now, affects LRT operations
interaksyon.com - 2012-03-17
MANILA, Philippines - Fire continues to sweep across a mall in Caloocan City Saturday afternoon, over 18 hours after it started Friday night, and affecting LRT operations. The fire at the Ever Gotesco Grand Central Mall remains at Task Force Delta as of ...

COCKTALES: PNoy relatives oppose Palace sin tax plan
interaksyon.com - 2012-03-16
Bad news for Malacanang: PNoy's closest relatives are opposed to the Palace-proposed sin tax bill. The Cojuangco-controlled Central Azucarera de Tarlac has joined the Philip Morris-San Miguel-Asia Brewery-led lobby in opposing the administration-sponsored ...

Filinvest, Capitol set to ink lot deal on Friday
Philippine Daily Inquirer - 2012-03-14
Last month, Filinvest Development Corp. won the bid for the development of a 10-story building that would soon rise at the site of the former BBRC and the Cebu City Treatment and Rehabilitation Center (CCTRC). BBRC has long been abandoned after the ...

Filinvest, Capitol set to ink lot deal on Friday
Philippine Daily Inquirer - 2012-03-14
THE Capitol will enter into a contract agreement with Filinvest Land Inc. on Friday. Cebu Gov. Gwendolyn Garcia said yesterday that she would be signing the contract with Filinvest to start on the development of the 1.2-hectare lot where the Bagong Buhay ...