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 [...]

The United States government announced the increase in its law enforcement aid to the Philippines. From nearly P495 million in 2010, the country will be getting close to P630 million in 2011, according to the US Embassy in Manila. This support will come in the form of “technical assistance, training, facilities, and supply of equipment.”

The Philippine Stock Exchange (SEC) has approved and issued the listing rules for real estate investment trusts (REIT), thus giving way for a new investment instruments.  According to the SEC, the rules should spur interest from the investing public. REIT will use pooled capital of investors to buy and manage income-generating property and mortgage loans.

Up to P10 billion worth of stocks in the Bank of the Philippine Islands (BPI) will be purchased by the Ayala Corp. Chief finance officer Delfin C. Gonzales Jr. of Ayala Corp., in a disclosure to Securities and Exchange Commission (SEC) said the board has approved the subscription “to our pro-rata share in the [...]

The Bangko Sentral ng Pilipinas (BSP) said that approximately 11 million Filipino households do not have bank accounts.
BSP Governor Amando Tetangco Jr. said, “Rough estimates indicate that at the most, only one-third of our households have bank accounts,” during a conference of the Rural Bankers Association of the Philippines held recently at the Sofitel Philippine [...]

Gokongwei-led Digital Telecommunications Philippines Inc. (Digitel) plans to increase its budget for capital expenditure (Capex) for 2010 from $250 million to $350 million this year. This is in line with the company’s effort to aggressively expand its network to match rivals Philippine Long Distance Telephone Co. (PLDT) and Globe Telecoms Inc.
James Go, Digitel president and [...]

A new technology that will produce natural and eco-friendly dyes was developed by the Philippine Textile Research and Institute (PTR1) of the Department of Science and Technology (DOST).
The use of natural dyes was nearly forgotten when synthetic dyes were introduced in the market. Fortunately, many people are now becoming more and more conscious, and concern, [...]

One of the leading manufacturer of batteries in the Philippines is considering of putting up its own business process outsourcing facility in the Philippines. The Energizer Philippines Inc., maker of the Eveready and Energizer batteries, plans to put up a call center facilities because according to company president and managing direct Esteban Vorbeck, support for [...]

With the seemingly assured victory of Benigno  “Noynoy” Aquino for the highest position in the country, the business groups in the Philippines have expressed their eagerness to support and work with the incoming administration.
Francis C. Chua, president of the Philippine Chamber of Commerce and Industry (PCCI), said “The business community welcomes who the people have [...]

A tighter rule in getting listed in the local stock exchange by way of introduction has been drafted by the Philippine Stock Exchange (PSE) in a bid to better protect the investing public. The new guidelines will affect the rule which allows the companies to start public trading of their shares without conducting an initial [...]

Saturday, April 10, 2010 marks the first day of voting for Filipino overseas, which according to the Department of Foreign Affairs, proceeded smoothly.
Voters in Hong Kong said the automated process was “fun and simple” and most of them took less than 3 minutes to cast their voted, feed their ballots in the precinct count optical [...]

Manuel V. Pangilinan is one of the most powerful and influential man in the Philippines. A respected business whose words were always revered upon by those who hear them.
But recent news has put this notable individual in hot water, which led to decide in quitting his academic post. Pangilinan was sorely embarrassed on his speech [...]

The bank owned by juice king Alfredo M. Yao is planning to open more branches in the Visayas and Mindanao. The Philippine Business Bank, Inc. (PBB), according to company chairman Yao, will adding up to 25 to its number of branches this year, mostly would be in the Visayas and Mindanao, citing the regions’ high [...]

Air Philippines, the airline company of tycoon Lucio C. Tan, is out to compete head-on with Cebu Pacific owned by the Gokongweis’, with their new routes and aircraft. Air Philippines said it wants to revive its market presence.
Recently, Air Philippines leased two Air Bus A320 airplanes from partner Philippine Airlines (PAL). It plans to buy [...]

The plan of the Cebu Pacific Air to conduct an initial public offering worth as much as P25.7 billion has been approved by the Securities and Exchange Commission. The planned offering consists of about 235.6 million shares with an indicative price of P95 per share for a total size of P22.38 million.
Should the demand for [...]

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 [...]

Mediaquest Holdings Inc. is allotting around P700 million for its capital expenditure this year. The media unit of Philippine Long Distance Telephone Co. is earmarking the said amount for its satellite TV business year to increase its subscriber base to 200,000.
At the end of 2009, Cignal Digital TV, Mediaquest’s direct-to-home satellite television has 45,000 subscribers [...]

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 Philippine National Oil Co. (PNOC) was able to bag an exploration contract to develop the Mt. Isarog volcanic chain in Camarines Sur.  The PNOC’s $60-million Mt. Isarog geothermal project is estimated to generate 18 gigawatt-hours of electricity per year from its potential capacity of at least 20 megawatts.  It will be started in the [...]

The Metropolitan Bank and Trust Company (Metrobank) has awarded the Asian Terminals Inc. (ATI) credit line worth P250 million. The ATI said the proceeds of the funds would be used to fund its projects in the next five years.
ATI, in its disclosure to the Philippine Stock Exchange (PSE), said it signed an agreement with Metrobank [...]