Stricter No Smoking rules starting Monday

Posted on May 28th, 2011 by Roy

A stricter “No Smoking” policy in public places will be implemented in Metro Manila starting Monday and the Metro Manila Development Authority (MMDA) will see to it that it will be imposed.

DTI to bring SME Caravan to Antique

Posted on May 14th, 2011 by Roy

The Department of Trade and Industry (DTI) will bring business caravan to Antique. The DTI has chosen the province to be one of the sites for the Small and Medium Enterprises (SME) caravan which is slated on the 26th and 27th day of this month.
The trade department is encouraging businesses falling under the category of [...]

New reimbursement payment scheme to be adopted by Philhealth

Posted on May 8th, 2011 by Roy

A new payment system that will replace the present “fee for service” scheme in reimbursing hospitals will be adopted by the Philippine Health Insurance Corp. (Philhealth) and hopes to implement it next month.
The Philhealth plans to adopt a new system called the “case payment” system which will have fixed rates for medical services and surgical [...]

New CDC head assumes post

Posted on May 3rd, 2011 by Roy

Antonio B. Remollo, former mayor of Dumaguete City, is the new head of the Clark Development Corp. (CDC) replacing Benigno Ricafort, Ateneo law school dean Cesar Villanueva assumed post as CDC chairman, replacing Rizalino Navarro.
Ricafort left to Remollo’s charge a Freeport hosting some P77 billion worth of investments of foreign and domestic firms. He also [...]

Clark airport to get a boost from US lawmakers

Posted on May 1st, 2011 by Roy

During their visit to the Clark airport, president and CEO of Clark International Airport Corp. (CIAC) Victor Jose I. Luciano asked the two US senators for help in the transformation of Clark airport into an “aerotropolis” that will bring in investors from the United States.
US Senators Daniel Inouye of Hawaii, President Pro Tempore of the [...]

Nestle Prize in Creating Shared Value now open for nominations

Posted on April 23rd, 2011 by Roy

The Nestlé Prize in Creating Shared Value is open for nominations. The award, which is open globally, aims to recognize an individual, non-government organization, or small enterprise working in the field of nutrition, water, or rural development. The nomination will be open until June 30, 2011.
The Nestlé Prize in Creating Shared Value was launched in [...]

PNOC-EC eyes expansion of coal production

Posted on April 21st, 2011 by Roy

The Philippine National Oil Company-Exploration Corporation (PNOC-EC) earmarked P900 million for the expansion of its coal mining ventures in Zamboanga Sibugay in Western Mindanao. The state-run oil exploration company said that its board of directors has already approved the special budget “to fund the development of existing coal mine” that will enable it to double [...]

Authorities ready for today’s transport strike

Posted on March 30th, 2011 by Roy

Because of the transport strike scheduled today by major transport groups, the authorities deployed before dawn the first batch of buses to give free rides to commuters who were affected. Metropolitan Manila Development Authority (MMDA) Chairman Francis Tolentino said their personnel also started monitoring as early as 4 a.m. The Armed Forces of the Philippines [...]

Lepanto sets 2011 capex at P700 million

Posted on March 27th, 2011 by Roy

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 [...]

Trans-Asia signed supplier deal with SEM-Calaca Power plant

Posted on March 23rd, 2011 by Roy

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 [...]

Vista Land earmarked P45B for its 3-year capex

Posted on March 14th, 2011 by Roy

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.”

Sta. Ana racetrack to get a make-over

Posted on February 25th, 2011 by Roy

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 [...]

More employment opportunities in Clark this year

Posted on February 23rd, 2011 by Roy

The Clark Development Corporation (CDC) said that it expects the employment at the Clark Freeport Zone to surge this year as operations of new investments starts. The CDC said as early as the end of January 2011, the number of workers in Clark had already grown by an annual 4.7% already.  The Freeport Zone administrator [...]

BSP issued circular increasing bank’s SBL

Posted on February 12th, 2011 by Roy

A new circular containing the guidelines on the additional single borrower’s limit (SBL) for exposures of banks to proponents of major infrastructure or development projects, oil companies and trust corporations. According to BSP Governor Amando M. Tetangco, Jr., the new guidelines amended the regulation on SBL under the provision of the Manual of Regulation for [...]

Sitel offers more job for Filipinos

Posted on November 4th, 2010 by Roy

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 [...]

Globe Asiatique stops planned IPO

Posted on September 7th, 2010 by Roy

Globe Asiatique intended to hold an initial public offering (IPO), unfortunately the property developing company owned by businessman Delfin Lee decided to withdraw its P3.3 billion IPO application with the Philippine Stock Exchange because its underwriter decided to quit.
The company, in its letter to the PSE, said that BDO Capital and Investment Corp. have resigned [...]

Philippines expects 108 delegates for Phitex 2010

Posted on August 29th, 2010 by Roy

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 [...]

Group pushes for government incentives for tech business incubators

Posted on August 28th, 2010 by Roy

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.

Philip Morris opens warehouse facility in Subic

Posted on August 21st, 2010 by Roy

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) [...]

San Miguel to put the country’s first underwater hotel

Posted on August 6th, 2010 by Roy

The real estate subsidiary of conglomerate San Miguel Corp. (SM) is planning to launch soon, the country’s first “underwater hotel.” The said project is part of the four new developments of San Miguel Properties Inc. (SMP) which will start next year, as the company’s foray into the tourism segment begins.