JG Summit announced last Friday its intention to sell its stake in telecommunications giant Philippine Long Distance Telephone Co. (PLDT) to NTT DoCoMo of Japan. The Gokongwei-led company said it will be selling to NTT DoCoMo the 2.8-percent stake it will receive from PLDT as part of the telecom giant’s deal with the Digital Telecommunication [...]

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.

Stradcom Corp., the exclusive IT service provider for the Land Transportation Office (LTO) warns of a possible shutdown of the database and computer system it operates for the agency if the LTO continues to refuse remitting payments to the private firm. Stradcom provide and maintains LTO’s information technology facilities, including its database and licensing functions.
The [...]

After long talks, finally, the two telecommunications company, Globe Telecom and Bayan Telecommunications (BayanTel) are 100 percent interconnected in areas that they both serve in the Philippines following the opening of local links for the provinces of Western and Northern Samar.

The Government Service Insurance System (GSIS) has entered into a conditional sale agreement with the Hong Kong-based First Pacific Company (FPC), which is represented by its local affiliate Two Rivers Pacific Holdings Corporation. The deal will see First Pacific buying approximately 5.9 percent interests of GSIS in Philex Mining Corporation for P6.02 billion.

The Philippine National Bank (PNB) and Allied Banking Corporation, both controlled by tycoon Lucio Tan, will continue with its scheduled merger which will happen in the second half of 2010, said PNB president Omar Byron Mier.
The merging of the two banks will create the fourth largest privately owned bank in the Philippines, behind the three [...]

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 [...]

Filinvest Land Inc. plans to increase its stake in two property firms. The property unit of business tycoon Andrew Gotianun, in its disclosure to the Philippine Stock Exchange, said that its board approved the purchase of the 40% stake of Africa-Israel Properties Philippines Inc.  in Cyberzone Properties Inc.  (CPI) and the 40% interest of Africa-Israel [...]

The Philippine’s PhilWeb Corporation, together with the ISM Communications Corp., will be acquiring a controlling stake in Acentic, a European information technology company. The two companies, in their disclosure to the Philippine Stock Exchange (PSE), said that they made a deal with a private equity firm based in United Kingdom to acquire 65% stake in [...]

The credit card servicing arm of the Rizal Commercial Banking Corp., Bankard, Inc., has signed a deal with China UnionPay (CUP), the lone national bank card payment network in China based in Shanghai. The agreement will allow local retailers to take advantage of the growing number of Chinese tourist in the country.

President Gloria Macapagal-Arroyo’s visit to Saudi Arabia continues to reap positive results. The latest of which is expression of interest of the members of the Jeddah Chamber of Commerce and Industry (JCCI) to invest in the Philippines, more particularly in rice and coffee production and in banana trading.
The delegation of JCCI members, led by its [...]

Three major companies from the oil-rich kingdom of Saudi Arabia are looking to invest in the Philippines. This include a leading plant construction and maintenance company and the largest financial institution, who all made assurances to President Gloria Macapagal Arroyo.

The Manila Water Inc. has entered into a joint venture agreement with the provincial government of Laguna to form the Laguna Water Co. Inc. which will develop and operate the water supply system in 3 areas of Laguna province.

The Philippine Long Distance Telephone Co. (PLDT)  has acquired the Laguna Medical Systems Inc. (LMS) for $8.25 million (approx P400 million), expanding its foray into the business process outsourcing (BPO) sector. PLDT said the acquisition was made by SPi Global Solutions, a leading BPO company which is a unit of its wholly owned information and [...]

The Philippines First Insurance Co., Inc.  (PhilFirst) is the first Filipino domestic non-life insurance company. It was established in 1906 and provides a wide array of non-life insurance coverage to individuals and corporations. It is currently the 15th biggest non-life insurer in the country in terms of assets.

The Easycall Communications Philippines, Inc. (ECPI) has been granted the license to install, operate and maintain a nationwide data communication network by the National Telecommunication Commission (NTC). The license however, comes with a condition.

Amidst a widely criticized trips and dinner overseas, President Gloria Macapagal-Arroyo left for Libya early this morning. But this time though, the president has a “lean” delegation composed of only five Cabinet officials.
Travelling with the president in Libya are Press Secretary Cerge M. Remonde, Foreign Affairs Secretary Alberto G. Romulo, Labor Secretary Marianito D. Roque, [...]

The Diversified Technology Solutions International, Inc. (DTSI), the leading IT enabler in the Philippines, has just entered into a partnership with Nectar Channel Reseller, a subsidiary of Nectar Services Corporation. With the partnership, Nectar Corp. effectively expands its reach into the international marketplace and reinforces DTSI’s position as a leader in IT-enabled service provision.

Philippine Labor Secretary Marianito Roque signed a memorandum of agreement (MOU) with his Korean counterpart Ministr Lee Younghee. The MOU would allow thousands of Filipinos to land a job in Korea. The Korea Labor Ministry conducted a survey, and according to them, Filipinos ranked first in terms of ability to adapt to the Korean society, [...]

The Philippines and South Korea celebrates the 60th anniversary of bilateral diplomatic relations this year, which President Gloria Macapagal-Arroyo also declared as the “Philippines-Republic of Korea Friendship Year.” 2009 also marks the 20th anniversary of ASEAN-Republic of Korea Dialogue Relations.
In line with this, the president will be visiting Korea, and she will be in Seoul [...]