A United Kingdom company is offering the Philippines its power solution to help avoid power disruptions in the country.
The British Embassy in Manila said Aggreko, a developer of power solutions, will be coming in the country next week to make a presentation of its product. The embassy said the company’s expertise could help address the [...]

JG Summit Holdings Inc. is earmarking $700 million for the planned expansion this year. Most of these funds are allocated for its petrochemical and airline businesses.
JG Summit president Lance Gokongwei said the petrochemical business will be the company’s priority in the next three years. JG Summit also has stake in a property developer and may [...]

Trainer Freddie Roach declared that his prized fighter Manny “Pacman” Pacquiao could very well be the first boxer to knockout former five-time world champ “Sugar” Shane Mosley on their May 7 fight at the MGM Grand Arena in Las Vegas.
Roach said that Pacquiao is in tip-top shape and said he is 100 percent ready for [...]

The Trans-Asia Oil and Energy Development Corp.’s plan to raise fresh fund for power generation via stock rights offer was approved by the Philippine Stock Exchange (PSE).
The Phinma-led company got the nod from PSE when the latter posted a memorandum on Friday saying that its board has approved the listing of 1.16billion additional common shares [...]

Globe Telecom, in its letter to the National Telecommunication Commission (NTC), is asking the agency to take a look, and intervene, in the recent acquisition of the Philippine Long Distance Telephone Co. (PLDT) of a majority stake of Digital Telecommunications Phils. Inc. (Digitel). Globe warned that the PLDT-Digitel is threatening to free competition and gravely [...]

The Department of Trade and Industry (DTI) reported that their recent trade and investment mission in India have generated new investment pledges worth $42 million. Trade Secretary Gregory Domingo said they were from three energy projects and a pharmaceutical packaging ventures.
The Philippine delegates, led by Domingo, attended the recent ASEAN-India Business Fair and Conclave held [...]

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 [...]

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 [...]

Despite of the looming merger of rival Philippine Long Distance Telephone Co. (PLDT) and Digital Telecommunications Philippines Inc., (Digitel), the Ayala Corp. said it has no plans of leaving the telecommunications business.
Ayala and partner Singapore Telecommunications Ltd. (SingTel) were excited about the prospect of its Globe Telecom Inc., despite the tougher competition brought about by [...]

Another powerful earthquake hits Japan anew on Thursday. The Japan Meteorological Agency recorded the quake at a magnitude of 7.4 while the US Geological Survey said it was 7.1. The recent quake triggered a tsunami warning for one prefecture and advisories in other prefectures. The National Police Agency said there were no reports of casualties [...]

A total of P49 billion for its capital expenditures (capex) this year is being allocated by the Aboitiz Equity Ventures Inc. (AEV), the bulk of which will be used to fund its proposed coal-powered projects. According to company senior vice president and chief financial officer Stephen G. Paradies, P46 billion of the capex would go [...]

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 [...]

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 [...]

Because they remained unclaimed after the one-year claiming period, the Philippine Charity Sweepstakes Office (PCSO) has forfeited a total of P605,273,958.20 prizes from all online lotto games in Luzon, Visayas and Mindanao draws. These forfeited prizes, according to the PCSO, were mostly minor prizes of the EZ 2, the 3-digit game, 4-digit game, 6-digit game, [...]

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 [...]

The Dept. of Energy said that the half of the debts on the power sector can be or may be recovered from the consumers. The National Power Corp. (Napocor), Power Sector Assets and Liabilities Management Corp. (PSALM), and the National Transmission Corp. (Transco) had a P932.21 billion of obligations that can be [...]

Power shortage is costly. That is surely will be the one of many issue that will be discuss in the upcomming 19th Mindanao Business Conference.
The conference will surely discuss how to gain more and more investment although the region is in power shortage. They said that the power shortage is limmiting
their production rate [...]

The country’s biggest oil refiner and retailer, recently disclosed that for the first half of 2010, it has already spent more than P6 billion for its capital expenditure projects and debt repayments. Petron Corp., in its disclosure to the Philippine Stock Exchange (PSE), said it used the proceed from its preferred share issuance early this [...]

The country’s power sector, including renewable energy projects, is likely to get a big boos from the World Bank (WB). WB’s private sector arm, the International Finance Corp. (IFC), is looking at pouring in more than $300 million in investment to the said industry in the Philippines.
IFC resident representatives to the Philippines, Jesse Ang, said [...]

La Filipina Uy Gongco Corp., a relatively unknown local company owned by businessman Alfonso Uy, seems to be just a short step away from clinching the deal to acquire the Mariveles Grains Terminal of Asian Terminal Inc. (ATI).  La Filipina has beaten conglomerate San Miguel Corp. (SMC) in its bid for the purchase of ATI’s [...]