The thrift bank subsidiary of the Bank of the Philippine Islands, BPI Family Savings Bank, is going to roll out a credit facility that will cater to the micro and small enterprises. This plan of BPI Family to increase its loan exposure will be done through a customized business packaged which it will roll out [...]

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 Bureau of Internal Revenue (BIR) is targeting to reach P360 billion for its collection this year from the country’s large taxpayers. The figure which is higher that the P339 billion collected last year, represents roughly 60 percent of the agency’s full-year target of P830 billion, said BIR Assistant Commissioner Nesto

Philip Morris International, Inc. (PMPI) joined forces with Philippine a cigarette company forming one big corporation that will control about 90 percent of the country’s lucrative cigarette market. The US-based tobacco giant formed a new company with local rival Fortune Tobacco Corp. (FTC), which is owned by Chinese-Filipino tycoon Lucio Tan.

Infosys BPO Ltd. is planning to put up 3 more call center facilities, expanding its presence in the country. The business process outsourcing firm chief operating officer Ritesh Idnani said, “We are very bullish about the Philippines and we will continue to invest in the next few years.”
Idnani said that while their Philippines operations only [...]

Another opportunity rises for job seekers as another business process outsourcing firm (BPO) gears up for expansion. The Stream Global Services Inc., a BPO company which is partly owned by the Ayala group is looking to fill up 1,500 seats in the 60 days and open one or two more new sites during the first [...]

The Subic Bay Freeport is fast becoming the country’s center of meetings, incentives, conventions and exhibitions (MICE).  This was noted by Department of Tourism Secretary Ace Durano during the opening of the MICECON 2010 held recently.
“Subic opens up a new world for MICE since it offers a very wide array of both man-made and natural [...]

There will not be any price increase on the cement, at least none until the end of March. This was the promise made by Holcim Philippines who said that they will not be increasing their price in Metro Manila in order to help those who were hit by the typhoons which devastated the country late [...]

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 [...]

Bibingkinitan! has embarked on an aggressive campaign to expand its number of outlets this year. The fast-rising Filipino food chain is aiming to open up about 100 new outlets all over the country, to bring its total number of stores to at least 250 by the end of 2010.
Richard V. Sanz, president and chief executive [...]

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 SM Group announced recently that they will be opening up to 20 new stores in Metro Manila and surrounding provinces this year for their food retail unit. The company said it will be investing P1 billion to P2 billion for these projects.

A good news, for a breather. Consumers can expect to buy chickens at a lower price next, a supermarket group said, because of the expected increase in supply. From the present suggested retail price (SRP) of P130 per kilo, a five percent reduction will bring it down to P123.50 per kilo, or a savings of [...]

An increase of P1 per liter on its pump prices has been implemented by Flying V, as an effect of the increase in the world oil prices. The company based its decision on the price of Dubai crude, which is the benchmark of oil refiners.
The said commodity has gone up to $80 per barrel as [...]

The Kingdom of Saudi Arabia still tops the list of land-based destinations of overseas Filipino workers, according to the Philippine Overseas Employment Administration (POEA). The agency also said that the Saudi Arabia even improved by 8.2 percent in terms of the number of OFWs deployed as of October 2009.

Phoenix Petroleum Philippines, Inc. is looking for a strategic financial partner that can help it pump up its investment portfolio. This is keeping in line with company’s goal of becoming one of the key players among the league of independents in deregulated oil industry.

The Tutuban area is located right beside the heart of Manila’s principal trading district which is Divisoria. It is a strategic center for business and commerce because of its proximity to important districts and landmarks such as Divisoria market, Ongpin, Binondo, Escolta, North and South Harbors and Quiapo, among others.

Easycall Communicates Philippines Inc., the former paging leader in the Philippines, gets a boost from local technology firm Global E-Business Solutions Inc. as the company hiked its stake in Easycall to push it to pursue ventures in the wireless broadband Internet sector.
In their disclosure to the Philippine Stock Exchange (PSE), Easycall said that its board [...]

A new production in its Cagayan De Oro plant will be put up by the Pepsi-Cola Product Philippines, Inc. The company has allotted P350 million for the new plant. The new production line, according to Pepsi’s disclosure to the Philippine Stock Exchange (PSE), is intended to boost the company’s capacity and further bolster its position [...]

For the last 15 months, the peso was pegged at its strongest level after the closing at 46 to $1 on Friday. This was mainly attributed to steady growth of overseas Filipino workers (OFWs) remittances and stable consumer prices.