The Department of Transportation and Communications (DOTC) sent invitations to qualified parties to submit an expression of interest for the interim contract (4+1 years) of the operations and maintenance of Light Rail Transit (LRT) 1 and Metro Rail Transit (MRT) 3 system.

Multinational firm Johnson & Johnson was fined by the United States authorities $70 million on for bribing doctors in Europe and paying kickbacks for contracts under a United Nations (UN) relief program in Iraq.
According to the US Department of Justice and Securities and Exchange Commission, the cosmetics and drug giant has paid doctors and hospitals [...]

The Department of Trade and Industry said that many among our exporters are not really aware of the trade opportunities under the country’s free trade agreements (FTA). That is why it is intensifying its information awareness campaign focusing on the government’s priority exports.
Gregory L. Domingo, DTI Secretary, said that the basic information awareness campaigns from [...]

A survey of the businesses in the Philippines will be conducted by the National Statistics Office (NSO) this year. The project called, the Annual Survey of Philippine Business Industry (ASPBI), will start as soon as the NSO personnel have finished with their training for the conduct of ASPBI, according to NSO-Cordillera Regional Director Olivia Gulla. [...]

Trans-Asia Oil and Energy Development Corp., a publicly listed firm, recently signed a contract with SEM-Calaca Power Corp. for the purchase of Trans-Asia of power generated from the Consunji-led Calaca Power Corp. Trans-Asia, in its disclosure submitted to the Philippine Stock Exchange (PSE) said it signed on Wednesday the contract “to purchase generated energy,” which [...]

SkyCable allotted P1.5 billion funds for its capital expenditure for 2011 for its Cable Television (CATV) business. Half of the said amount will be used for the roll-out of its digital TV service nationwide and the other half for boosting its broadband subscriber growth, according to company marketing head Rodrigo Montinola.
A subsidiary of network giant [...]

The Negros Navigation Co., Inc. is expecting to end up with a net income of P1 billion for 2011. A complete turnaround from its previous result last year when it ended up with loss of half a billion.
Nenaco president and chief executive officer Sulficio Tagud said that this is on the back of projected consolidated [...]

Vista Land and Lifestyles Inc. reported that it has earmarked P45-billion for capital expenditure plans for the next three years. Vista Land chief executive officer Benjamarie Serrano said, “We are in the midst of an aggressive expansion program that will entail significant capital expenditures over the next three years and beyond.”

From the usual two days processing time, the amount of time spent in registering a business name has been cut to only 15 minutes because of the enhanced Electronic Business Name Registration System (eBNRS).
Trade Secretary Gregorio Domingo said, “The entire transaction will only take around 15 minutes. The actual processing takes only three minutes and [...]

A new web portal that caters to business and customers alike has been set up by Creative OnlineMedia Inc. which is called the redpages.ph.
Dennis Ng, chief executive officer of Creative OnlineMedia, saw the opportunity in the services sector. The redpages.ph allows business to advertise and promote their products and services, while buyers can also access [...]

The thrift bank subsidiary of the Bank of the Philippine Islands, BPI Family Savings Bank, is going to roll out a credit facility that will cater to the micro and small enterprises. This plan of BPI Family to increase its loan exposure will be done through a customized business packaged which it will roll out [...]

Mediaquest Holdings Inc. is allotting around P700 million for its capital expenditure this year. The media unit of Philippine Long Distance Telephone Co. is earmarking the said amount for its satellite TV business year to increase its subscriber base to 200,000.
At the end of 2009, Cignal Digital TV, Mediaquest’s direct-to-home satellite television has 45,000 subscribers [...]

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

The Home Development Mutual Fund (HDMF), more popularly recognized as he Pag-IBIG Fund launched a bond offering which will be auctioned to the public on March 9. The state-administered fund manager will be offering P12 billion bonds starting next month.
Jaime Fabiaña, chief executive officer of HDMF said that the proceeds of the funds would be [...]

Bibingkinitan! has embarked on an aggressive campaign to expand its number of outlets this year. The fast-rising Filipino food chain is aiming to open up about 100 new outlets all over the country, to bring its total number of stores to at least 250 by the end of 2010.
Richard V. Sanz, president and chief executive [...]

Because of the increasing volume of transactions in the Philippines, many banks in the Philippines are planning to offer products and services denominated in Chinese yuan or renminbi to their clients in the near future. According to Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr., these banks are looking to offer renminbi-denominated products and [...]

A Singaporean firm is planning to invest $7.5 million in a local gaming company. Straitwey, a Singapore-registered company who is a wholly owned subsidiary of the Japan Gaming Development Organization (JGDO) and is the investment entity used by JGDO to invest into projects within the gaming industry, is investing the $7.6 million in the primary [...]

Online games always a ready audience in the Filipino market. There is a big market for Filipino online gamers, although most the games were created outside the country. A group of Filipinos with entrepreneurial mindset is eyeing to cash in on this online gaming craze capturing Filipinos from all walks of like.

Because of the difficulty in obtaining a franchise from Congress, the Gatchalian Group has temporarily shelved its planned airline business.
Atty. Miguel Varela, one of Gatchalian’s partners in the proposed airline company, told reporters they cannot operate yet because they failed to get a franchise, which is an act of Congress. “It is difficult to get [...]

The Department of Energy (DOE) has started accepting proposals for the bidding of the nine geothermal areas offered under the latest Philippine Energy Contracting Round (PECR). At least 10 local and foreign groups have already been pre-qualified.
According to Mario Marasigan, DOE assistant secretary, they are evaluating the submitted proposals at present to verify if they [...]