The Philippine Long Distance Telephone Co. (PLDT) said the claim of Globe Telecom that the deal between PLDT and Digital Telecommuncations Phil. Inc. (Digitel) would result into the monopoly of the telecom industry is only Globe’s way of protecting its interest at the public’s expense. PLDT criticized Globe’s effort to stop the deal that would [...]

Globe Telecom, in its letter to the National Telecommunication Commission (NTC), is asking the agency to take a look, and intervene, in the recent acquisition of the Philippine Long Distance Telephone Co. (PLDT) of a majority stake of Digital Telecommunications Phils. Inc. (Digitel). Globe warned that the PLDT-Digitel is threatening to free competition and gravely [...]

Philippine company Alliance Select Food International Inc. sealed a deal to acquire 100 percent of US company Spence & Co. Ltd., a Massachusetts-based salmon smoking and curing company who specializes in the production of smoked salmon and seafood, prepared in the Scottish tradition of its founder Alan Spence. The company caters to the high-end market [...]

The Department of Trade and Industry (DTI) reported that their recent trade and investment mission in India have generated new investment pledges worth $42 million. Trade Secretary Gregory Domingo said they were from three energy projects and a pharmaceutical packaging ventures.
The Philippine delegates, led by Domingo, attended the recent ASEAN-India Business Fair and Conclave held [...]

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.

About 70 renewable energy service contracts were cancelled by the Department of Energy (DOE) as part of its effort to weed-out “non-performing contracts” and offer them to more serious investors. Energy Undersecretary Jose M. Layug Jr. also said that licenses covering four prospective petroleum blocks were likewise cancelled.
The energy undersecretary said that the  70 companies [...]

The Philippine Long Distance Telephone Co. (PLDT downplayed fears that its takeover of rival Digitel Telecommunications Philippines Inc. would hinder competition in the local telecommunications industry. The telecom giant in fact said that the PLDT-Digitel merger would even be beneficial to the industry and would bring in better services and more competitive prices for consumers.
PLDT’s [...]

To beef up their line-up, the Philippine football team will be holding try-outs on April 9 to 10 at the Gellert Park in Daly City, near San Francisco. Team captain Aly Borromeo and defender Anton Del Rosario will conduct the tryouts, they are looking to recruit talents in the 15-24 age bracket. Borromeo and Del [...]

Lepanto Consolidated Mining Co. Inc. has set aside P700 million for its capital expenditures for 2011. In its disclosure with the Securities and Exchange Commission (SEC), Lepanto said it would embark on an aggressive development program of the upper levels of the Victoria mine in Mankayan, Benguet where production for the year will be concentrated.
The [...]

Clark airport in Angeles City Pampanga beats Subic International Airport in Subic, Zambales in bidding for the right to host the hub operation of AirAsia Inc. in the Philippines. AirAsia, Inc., an affiliate of Malaysia’s AirAsia Group, picked Clark as the base of its operation in the country. It will have its office at the [...]

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 [...]

The Sta. Ana Racetrack in Barangay Carmona, Makati is about to get a facelift, as its operator Philippine Racing Club, Inc. (PRCI) and property giant Ayala Land Inc. (ALI) recently signed a joint-venture agreement that would the 21-hectare racetrack into a mixed-use complex. The deal was stated by both companies in their separate disclosure to [...]

Because of securing a contract with new clients, and with their existing clients also expanding the services that they outsourced to them, business process outsourcing firm (BPO) Sitel will hiring 4,000 more new employees for its Manila and Baguio Sites.
Sitel recruitment director Joan Laquindanum said they have opened as many as 4,000 positions in one [...]

A listed firm expressed interest to bid for the 116 megawatt Subic diesel-fired power plant project, the sole generating facility at the Subic free port.
In its disclosure to the Philippine Stock Exchange (PSE), Pacifica Inc. which is controlled by port operator Michael Romero said its board has approved the plan to “bid or submit a [...]

The Metro Pacific Group is confident that it has won the bidding for the concession to operate the country’s longest expressway, the Subic-Clark-Tarlac Expressway (SCTEx). Metro Pacific Tollways Corp. (MPTC) believed it virtually clinched the hotly contested concession after it has submitted an “improved” bid package to the government. “We have submitted a final improved [...]

Outsource2Philippines (O2P), a firm that provides advisory services to the business process outsourcing (BPO) industry was reported to be acquired by TeamAsia, an award-winning strategic marketing communications firm which is based in the Philippines.
TeamAsia managing director Michael Alan Hamlin said on their acquisition, “We’ve identified a number of exciting opportunities for O2P that we will [...]

The North Belton Communities, a mixed-use township development in Quezon City owned by Lucio Tan’s group, was bought tycoon Henry Sy’s SM Prime Holding, Inc. A memorandum of agreement was recently signed between the Lucio Tan-led Eton Properties Philippines, Inc., Philippine National Bank (PNB) and SM Prime.
The signed MOA involves the sale of a portion [...]

Philippine top company and business conglomerate San Miguel Corporation now plans to acquire a significant stake in Petron Corp. The announcement of interest in the oil refiner immediately sent Petron’s share to its highest since November 2007.
San Miguel has an option to acquire 40% of the Sea Refinery Corp., a firm which owns about 50.1% [...]

The Philippine National Bank (PNB) signed up an agreement with the Bank of China (BOC) in handling remittances of Italy-based Chinese nationals to their homeland. The Lucio Tan-led PNB’s agreement with the state-owned BOC expands the market coverage of unit PNB Italy SpA which was established to facilitate remittances of thousands of Filipinos in Italy.
PNB [...]

If food and beverage giant San Miguel Corporation (SMC), would have its way, it will redevelop the Diosdado Macapagal International Airport (DMIA), as it being geared to become the country’s premier international gateway.
San Miguel, in its disclosure to the Philippine Stock Exchange (PSE), that it is evaluating the viability of investing in the redevelopment of [...]