A total 108 delegates from wholesale travel agents from all over the world are coming to the Philippines for the upcoming 10th Philippine Travel Exchange (Phitex 2010) to forge deals with the different sectors of the local tourism industry.
Tourism Secretary Alberto A. Lim said that the delegates who will be coming in are large representations [...]

The Philippine Development Foundation-USA (PDF), newly formed US-based Filipino development group is pushing for Philippine government to grant incentives for the creation of technology business incubators and business parks in order to nurture start-up investments in commercially-viable research and development fields in drug-making, food production and software.

The Department of Trade and Industry (DTI) announced that it will finally implement its plan that took four years in inception, of a paperless business registration system.  Program manager of DTI’s Philippine Business Registry (PBR), Whilner Morales, said the paperless business registration system would be implemented both in the local and national levels. “Anybody can [...]

A P600-million regional tobacco leaf warehouse was inaugurated recently by Philip Morris Philippines Manufacturing Inc. (PMI) at the Subic Techno Park inside the Subic Freeport Zone. The said facility cements the place of the Philippines as tobacco leaf warehouse hub of Philip Morris in the Asia Pacific region.
Armand C. Arreza, Subic Bay Metropolitan Authority (SBMA) [...]

Nido Petroleum Ltd. sold its first oil from the Tindalo oil field off Palawan. The Australian firm has sold to a buyer in South Korea some 230,000 barrels for crude oil cargo. Joanne Williams, Nido deputy managing director, said the sale was confirmed by the joint venture’s marketing agent, Trafigura Pte Ltd., with the lifting [...]

It’s called BOSS, short for business one-stop shop, an initiative by the Quezon City Government that aims to lessen the burden of businessmen when securing business permit. Launched last Friday, officer-in-charge for the Business Permit and Licensing Office Pacifico F. Maghacot, Jr. said they are expecting to have at least 12,000 new businesses within the [...]

With online social network getting more popular these days, leading mobile communication giant Smart Communications offered a new product that will allow prepaid subscribers to update their social network accounts like Friendster, Twitter and Facebook, in its new all-in-one load bundle.
The new service from, which is called Smart Buddy’s AllTxt Combo Plus, is a perfect [...]

Cognizant, another world-leading company engaged in the technology, consulting and business process outsourcing (BPO) services is expanding its operations in the Philippines. From its present manpower of approximately 200 employees, the company said its planned expansion will accommodate as much as 600 more personnel.
R Chandrasekaran, president and managing director of Global Delivery, Cognizant said, “Within [...]

JPMorgan Chase & Co. opened two new Global Service Centers (GSC) in the Philippines this year, as part of its expansion in the country. The two new GSC will provide support for the New York listed company’s business lines and customers around the world, bringing to four the company’s GSCs in the Philippines.
The latest GSC, [...]

A recent survey conducted by one of the leading financial publications in Asia showed the Philippines as the third cheapest tourist destination in Southeast Asia. The survey was made by FinanceAsia, one of the leading business publications in the region, which utilized Mandarin Oriental’s rack rates as basis for the reader’s outlook.

Investment banker Philip Sevilla has been appointed by President Aquino as Finance undersecretary for Privatization and the Corporate Affairs Group, as confirmed by Finance Secretary Cesar Purisima recently. Sevilla will be taking over the portfolio which was previously handled by Crisanta Legaspi. He will be handling the difficult task of helping raise revenues for the [...]

The country’s biggest oil refiner and retailer, recently disclosed that for the first half of 2010, it has already spent more than P6 billion for its capital expenditure projects and debt repayments. Petron Corp., in its disclosure to the Philippine Stock Exchange (PSE), said it used the proceed from its preferred share issuance early this [...]

Convergys Corp., the largest private employer in the Philippines, is planning to hire additional 3,600 new employees as it expands its five existing sites in the country to bring their total number of workforce to 25,000 by the end of 2010. Marife Zamora, country manager of Convergys Philippines, said the expansion is meant to meet [...]

The country’s power sector, including renewable energy projects, is likely to get a big boos from the World Bank (WB). WB’s private sector arm, the International Finance Corp. (IFC), is looking at pouring in more than $300 million in investment to the said industry in the Philippines.
IFC resident representatives to the Philippines, Jesse Ang, said [...]

The second Philippine-Russian business forum exhibition will be held on October 21 to 24, 2010 and will be hosted by Cebu City. The business forum, which aims to promote tourism, trade, investment and greater economic and socio-cultural exchanges between the Philippines and Russia, will take place at the Cebu International Convention Center (ICC) in Mandaue [...]

The IP E-Game Ventures, Inc., the online gaming unit of listed information technology firm IPVG Corp., is getting ready to go public after fulfilling the requirement of the Philippine Stock Exchange (PSE) to be listed by way of introduction last February of this year.

Nestlé Philippines Inc., the Philippine unit of Swiss food and beverage giant Nestlé, is not going to pull out of the country and relocate in Indonesia as earlier reported. In fact, John Miller, chairman and chief executive officer (CEO) of Nestlé Philippines, said they are investing in a new facility south of Manila.

La Filipina Uy Gongco Corp., a relatively unknown local company owned by businessman Alfonso Uy, seems to be just a short step away from clinching the deal to acquire the Mariveles Grains Terminal of Asian Terminal Inc. (ATI).  La Filipina has beaten conglomerate San Miguel Corp. (SMC) in its bid for the purchase of ATI’s [...]

The Philippine Stock Exchange (SEC) has approved and issued the listing rules for real estate investment trusts (REIT), thus giving way for a new investment instruments.  According to the SEC, the rules should spur interest from the investing public. REIT will use pooled capital of investors to buy and manage income-generating property and mortgage loans.

Figaro Coffee Co., a 100-percent Filipino-owned company established in 1993 whose product lines include specialty roasted local coffee varieties and various coffee-related paraphernalia. Currently, the largest Filipino-owned coffee company, with 65 coffee shop outlets nationwide, 35 of which are franchise-owned, and 30 are company-owned.
For 2010, the company plans to increase its 65 outlets by 18 [...]