At the Diosdado Macapagal International Airport (DMIA), the construction of the P308-million expansion of the existing terminal is in full blast and it is expected to be operation next month. According to Victor Jose Luciano, president and chief executive officer of Clark International Airport Corp. (CIAC), the newly expanded Terminal 1 will feature two passenger [...]

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 [...]

Ayala Land Inc. (ALI) continues its expansion plan for the year especially in Mindanao. The property giant is constructing an integrated mixed-use complex in Cagayan de Oro, which is estimated to cost at least P2.5 billion.
ALI senior vice president and chief finance officer Jaime E. Ysmael, in a disclosure to the Philippine Stock Exchange (PSE), [...]

After long-delayed listing of its share in local stock market, Yehey! Corp. still wants to pursue its plan of getting listed in the Philippine Stock Exchange (PSE). Should they get listed, Yehey! would the third firm this to get listed by way of introduction this year.
Edmundo P. Bunyi, Jr., president and chief operating officer of [...]

Food and beverage conglomerate San Miguel Corp. (SMC) recently completed the $300-million sale of the international beer business to its flagship unit San Miguel Brewery (SMB) Inc.  Both San Miguel and SMB reported to the Philippines Stock Exchange, separately, the closing of the deal. It marked the completion of the spin-off of all the conglomerate’s [...]

Convergys Corp., one of the leading business process outsourcing (BPO) company in the Philippines is gearing up for expansion this year, one of the main reason is that more clients are requesting that their accounts be handled by Philippines sites.
The company is looking to hire about 6,000 more employees this year , nationwide, in order [...]

A new identification system which is said to help facilitate people’s transactions with government agencies is being planned as the Social Security System (SSS) and the Philippine Postal Corp. (Philpost), tied up together for the implementation of the said ID system.

The world’s largest airline, Delta Air Lines Inc., will set up an office in the Philippines. The Securities and Exchange Commission (SEC) has given a go signal for the company to set up its office in the country.
The new office is part of the company’s preparation to fold into its operations Northwest Airlines Corp, another [...]

The Abacus Consolidated Resources & Holdings Inc. (ACRHI) announced that it will be unloading is entire stake in the Pacific Online Systems Corp., the exclusive online lottery system provider of the Philippine Charity Sweepstake Offices in the Visayas and Mindanao.

The Kepco SPC Power Corp. (KSPC), a joint venture between Korea Electric Power Corp. and SPC Power Corp, acquired a loan from the Asian Development Bank (ADB) for the construction of a major power plant in the Visayas.
The ADB has approved the grant of $120-million 12-year term loan for the construction of a 200-megawatt (MW) [...]

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 RD Corporation, a Filipino owned company, is planning to expand its investment in the tuna cannery business and is earmarking about $15 million for its prospect. This was disclosed by RD Group chairman Rodrigo Rivera, who said that they will be starting the new cannery by the first quarter of 2010 and will be [...]

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 [...]

The group of Roberto V. Ongpin will return to the mining and oil exploration business soon after it acquired Atok-Big Wedge Co., Inc. Earlier, the company of former trade minister Ongpin sold its mining firm Philex Mining Corp.
It its disclosure to the Philippine Stock Exchange, Atok Big Wedge said it had a management and board [...]

Business establishments in Quezon City can breathe a sigh of relief, as the city government announced that it won’t be raising its business taxes until June of next year. Quezon City Mayor Feliciano Belmonte Jr. made the announcement and assured the local business community that they won’t be increasing taxes until he finishes his term [...]

The pension fund provider for private companies’ employees, Social Security System, said it has extended so far a total of P1.2 billion in loans micro, small and medium enterprises. The agency provided the said grants under a credit implemented by government financial institutions.

The San Miguel Corp. (SMC), the country with most diversified conglomerate, has been extended a P2 billion loan by the state-owned Land Bank of the Philippines (Landbank). The loan would be used by SMC to finance its expansion program.

The country’s oldest mining company, Benguet Corp., gets a new leash of life as it entered into a financing agreement with a Chinese company. The listed Benguet Corp. has signed a memorandum of agreement (MOA) with MinMetals International (HK) Ltd. which would allow them to resume the exploration activity at its King-king project in Pantukan, [...]

The bidding for the last set of management contracts for National Power Corp. (Napocor) assets to be auctioned off this year has been set on December 15 by the Power Sector Assets and Liabilities Management Corp. (PSALM).