Splash Corporation reported its profit up to 500 percent to P144 million in 2010 from P23.74 million in 2009. The leading personal care manufacturer reported to the Philippine Stock Exchange that its big financial figures last year can be attributed to its strong performance across all its business segments – domestic, international and direct selling.
Splash [...]

The Philippine Institute of Volcanology and Seismology (Philvocs) urged the local government of Batangas City to start drawing up long-term relocation plans for residents near Taal Volcano and issued a warning that the entire volcano island could be “obliterated” in case an eruption occurs.
Philvocs director Renato Solidum said during a meeting with the Disaster Risk [...]

ACM Landholdings Inc., a niche property developer founded 18 years ago by two Filipina banking and finance executives based in Hong Kong, is planning to be listed in the Philippine Stock Exchanges to raise as much as P1 billion fresh fund to meet brisk demand for low-to medium-cost housing.
Thus far, ACM has delivered to as [...]

The Philippine Long Distance Telephone Co. (PLDT) seeks to regain its dominance in the telecommunication industry as it buys competing company Digital Telecommunications Philippines Inc. (Digitel).
PLDT said it forged a deal to acquire 51.55% of the third-ranked Digitel valued at a value of P69.2 billion ($1.6 billion). The deal includes a share swap and the [...]

A survey of the businesses in the Philippines will be conducted by the National Statistics Office (NSO) this year. The project called, the Annual Survey of Philippine Business Industry (ASPBI), will start as soon as the NSO personnel have finished with their training for the conduct of ASPBI, according to NSO-Cordillera Regional Director Olivia Gulla. [...]

The Department of Environment and Natural Resources (DENR) has ordered the closure of a sugar mill in Balayan, Batangas for its violations of Philippine environmental laws. A cease-and-desist order (CDO) has been issued by DENR Secretary Ramon Paje against Batangas Sugar Central Inc. for what he claimed were the company’s repeated violations of the Philippine [...]

“Maharlika Board” or a separate trading board for the Philippines companies that comply with high governance standards is being planned by the Philippine Stock Exchange (PSE). If plans push through, the “Maharlika Board,” which will be the first of its kind in Asia, will start on September this year. It is part of the government’s [...]

While it is still processing the payment of deposit insurance to its depositors, the Philippine Deposit Insurance Corp. (PDIC) also started in its inventory of the assets of the closed Banco Filipino Savings and Mortgage Bank.
Officials of the closed bank, however, insists that it is not insolvent. It even went into having full-page advertisement in [...]

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 [...]

The Asia Brewery, Inc. (ABI) donated 70,000 bottles of distilled water which were flown in by the Philippine Airlines (PAL) to Tokyo, Japan yesterday. This signals the start of PAL’s shipment of relief goods for the earthquake and tsunami victims in that country.
ABI sent Absolute bottled water having a total weight of 27 tons. They [...]

The Bangko Sentral ng Pilipinas (BSP) issued closure order last for Banco Filipino Savings and Mortgage Bank and put it under receivership by the Philippine Deposit Insurance Corp. (PDIC) due to its capital deficiency.
Banco Filipino on Monday asked the Court of Appeals to the closure order of BSP. Perfecto Yasay, BF vice chairman and former [...]

In the latest report from the aftermath of the magnitude 9 earthquake and tsunami that hit Japan last March 11, the Department of Foreign Affairs (DFA) said that two Filipinos were confirmed dead. However, the names of the victims, a woman and her child, was not yet released by the DFA.
In its press conference in [...]

The Premier Entertainment Philippines Inc. (PEP) just got the nod of its shareholders to diversify from its main business of online gaming and into the mining, real estate and information technology. However, the company said it remains in search of its next venture as it assesses “feelers” from potential partners in its new businesses.
Anastacio P. [...]

After ordering its closure, and putting it under the receivership of the Philippine Deposit Insurance Corporation (PDIC), the next order of business is how to give back the money to the bank’s 177,652 depositors of Banco Filipino Savings and Mortgage Bank. BSP Deputy Governor Nestor Espenilla Jr. said that from the total number of depositors, [...]

Conglomerate Ayala Corp. is planning to sell as much as P10-billion in 10-year innovative bonds via public offering to beef up its cash position. In its disclosure to the Philippine Stock Exchange, Ayala plans to issue at least P6 billion “multiple puttable” retail bonds with an option to increase by P4 billion in case of [...]

Broadcast media giant GMA Network Inc. has approved the declaration of P2.187 billion cash dividends, or P0.45 per share. In its disclosure to the Philippine Stock Exchange, the network giant said the record date for the cash dividend is on April 8, and the payment date is on May 5. The declaration of cash dividend [...]

In a worst-case scenario, any radioactive cloud from Japan will not affect the Philippines, according to Science and Technology Secretary Mario Montejo. Philippine Nuclear Research Institute director Alumanda de la Rosa said, “For the Philippines right now, there is no significant effect, but we are monitoring the situation so we can advice officials on what [...]

Jesus Vicente-Garcia, executive vice-president and branch banking head of Philippine Veterans Bank, believes that time deposit remains to be one of the simplest, safest and most rewarding investments . Despite the many investment options available in banks, Garcia explained that a time deposit is a sound option to grow one’s investment because it enjoys higher [...]

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 [...]

To raise funds to pay for its maturing debt, the country’s biggest power distributor, Meralco Electric Co., will be selling P4.8 billion worth of seven- and 10-year notes. In its disclosure to the Philippine Stock Exchange, the electric company signed an agreement to sell the seven- and 10-year fixed rate bonds at a price of [...]