Pancake House Inc. reported a net income of P73.66 million for 2010, a figure which more than doubled the P35.56 million it posted in 2009. The Lorenzo-owned casual dining restaurant chain attributed the growth to its outlet consolidation and realignment of resources to profit-generating activities.
The company also owns and operates various other restaurant brands, aside [...]

Another venture that the Ayala group is breaking into is the hydroelectric power generation partnership. The conglomerate, through its wholly owned subsidiary Michigan Power Inc. (MPI) has entered into a joint venture agreement with Sta. Clara Power Corp., an independent power producer specializing in run-of-the-river power plants. Ayala Corp managing director John Eric Francia confirms [...]

HRMall Inc., a business process outsourcing (BPO) firm backed by the Ayala group, has acquired IQ BackOffice LLC. Based in Los Angeles, California, IQ BackOffice provides backroom finance and accounting services to mid-sized companies in the United State. It delivers high quality, software-enabled and real-time finance and accounting BPO services to US companies.
HRMall is one [...]

To cheer up the soldiers and help them get their mind off the corruption scandal involving former top military officials, a group of celebrity singers will perform in various military camps.
Led by the current president of the Organisasyon ng Pilipinong Mang-aawit (OPM) Olgie Alcasid, the group composed of Vice-president Noel Cabangon, Cookie Chua and Mitch [...]

Giant conglomerate Ayala Corp. allots a record-high P79 billion for its capital expenditures this year. The company said it is in an excellent position to delve into various investment opportunities. It is particularly eyeing the power and infrastructure sector.
During the annual stockholders’ meeting, chairman Jaime Augusto Zobel de Ayala said that while the company is [...]

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 [...]

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 [...]

The Pami Asia Balanced Fund, the fund management unit of the Philam group, has been given license by the Securities and Exchange Commission to operate as an open-end investment company and to register its entire authorized capital stock consisting of eight million common shares at a par value of P0.45 each. The new mutual fund [...]

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 [...]

The Philippine Economic Zone Authority (PEZA) said, in spite of the tragedy that hit their country, Japanese firms in the Philippines will continue with their business operations here and will not be laying off any workers. The PEZA added that because of the twin disasters that hit Japan, these businesses are even prompted to transfer [...]

A group of foreign businessmen is expressed their support for the implement of an open-skies regime by the Aquino administration via Executive Order (EO) 29. The Joint Foreign Chambers says this would better allow market forces to come into play and ultimately boost tourist arrivals in the country. The group said that the policy was [...]

A Philippine delegation, headed by the Department of Tourism (DoT), will be flying to India, particularly in New Delhi and Mumbai, to conduct a sales presentation in time for the production of tour packages for the April-June Indian travel season. The DoT is looking to capture a bigger market share of the 15 million outbound [...]

A wish list offered to the Malacañang that includes some of the issues in the business industry. The Management Association of the Philippines (MAP) will submit this wish list to Mr. President Benigno C. Aquino III this last friday on the 17th of september.
Inside the letter are some of the long, medium and short-term issues [...]

Chinese delegates to the recently held 10th Philippine Travel Exchange (Phitex) at the Manila Hotel said they were impressed by the warmth and hospitality of Filipinos that they immediately enjoyed their stay right on the first two days of their visit.
Kelly Jiao from Shanghai, who led the delegation , said “At first, our group was [...]

Six banks are being tapped by the Department of Finance (DOF) for its planned peso-denominated global bonds. Finance Secretary Cesar Purisima said they are planning to launch these global bonds within the month or immediately after the European and US summer holiday. The six banks being mandated for the plan will act as arrangers for [...]

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.

Investment banker Philip Sevilla has been appointed by President Aquino as Finance undersecretary for Privatization and the Corporate Affairs Group, as confirmed by Finance Secretary Cesar Purisima recently. Sevilla will be taking over the portfolio which was previously handled by Crisanta Legaspi. He will be handling the difficult task of helping raise revenues for the [...]

A healthier cupcake makes for a great alternative ‘baon’ is the product of the research project by a group of people from the Southern Philippines Agribusiness and Marine and Aquatic School of Technology (SPAMAST) in Digos City, Davao del Norte.
The cupcake made from seaweed and durian, which is just in time for the school opening, [...]

Right after the elections, the Bureau of Internal Revenue (BIR) will start this week their audit of 24 of the biggest conglomerates in the Philippines for their 2009 finances. According to BIR Commissioner Joel L. Tan-Torres said BIR “expects to collect a large amount of tax deficiency” from these group of companies. He said they [...]

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 [...]