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 [...]

President Benigno “Noynoy” Aquino III is not keen on new taxes just to increase the income of the government, instead he said that existing tax exemptions or incentives should be reviewed. Aquino said that rationalization plan for fiscal incentives is being discussed and stressed that the government would continue on its efforts to increase revenues [...]

The al-Qaeda founder and leader Osama Bin Laden was reported to have been killed US forces in Pakistan. US President Barack Obama reported that Bin Laden was killed in a mansion outside Islamabad following a joint operation of the US military and Pakistani forces. Obama said after the “firefight,” the US forces took possession of [...]

During their visit to the Clark airport, president and CEO of Clark International Airport Corp. (CIAC) Victor Jose I. Luciano asked the two US senators for help in the transformation of Clark airport into an “aerotropolis” that will bring in investors from the United States.
US Senators Daniel Inouye of Hawaii, President Pro Tempore of the [...]

A mix of wage and non-wage benefits for the country’s workforce was announced by President Benigno “Noynoy” Aquino III on Labor Day.
The president said over a million government workers can receive another salary increase in June, or a month earlier than schedule, due to the government’s prudent fiscal management. For the private sector, he gave [...]

Vice President Jejomar Binay was tasked to make a decision whether or not the late dictator Ferdinand Marcos will be allowed to be buried at the Libingan ng mga Bayani. The vice president said he hopes to submit by next month recommendation on the proposal to bury the former president at the Philippines’ national heroes’ [...]

The China Council for the Promotion of International Trade (CCPIT)-Guangzhou and Philippine Chamber of Commerce and Industry (PCCI) recently signed a cooperation agreement to co-organize the Manila-Guangzhou Trade and Investment Conference slated to be held on June.
The event, which is aimed to further boost the Philippine-China trade and investment relations, is expected to gather around [...]

The resignation of Ombudsman Merceditas Gutierrez is now trending on the internet. Gutierrez was said to have submitted her letter of resignation to President Aquino, 10 days before the schedule of her Senate impeachment trial which was set to begin on May 9. Interior Secretary Jesse Robredo said Gutierrez personally handed her resignation letter to [...]

The much anticipated announcement on Labor Day will not be heard this coming May 1. Secretary Rosalinda Baldoz of the Department of Labor and Employment (DOLE) clarified that there will be no announcement of wage increase on May, despite Malacañang’s pronouncement before that it is coming out with a Labor Day gift to help workers [...]

Xoom.com, a money online transfer company, tied up with DIRECTV to for a special offer to Xoom customers to watch the Manny Pacquiao “Pacman” Pacquiao versus Sugar Shane Mosley fight for free on DIRECTV Pay-Per-View (PPV).
The company is excited to bring this opportunity for the first time. It will be available to new Xoom customers [...]

The Social Security System (SSS) reported that its benefit payments for 2010 has increased by 7% to P77.17 billion, with the bulk of the payment going to retirement claims and death benefits. SSS president and chief executive officer (CEO) Emilio de Quiros Jr. said in a statement that the state-run agency paid P38.23 million to [...]

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 [...]

At the height of the controversy surrounding the closure of the Aguire-led Banco Filipino Savings & Mortgage Bank, Philippine Deposit Insurance Corp. (PDIC) president Jose Nograles has resigned from his post as head of the state-run deposit insurer.
Sources were quick to clarify that the decision of Nograles to quit was not in any way connected [...]

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 smartcards would be released to public utility jeepneys (PUJs) and tricycle operators on May 1 or May 2, according to presidential spokesman Edwin Lacierda. The implementing rules and regulations were finalized and issued last week.
Lacierda said that Malacañang also warned public transport groups of stiff sanction if they jeopardize the public welfare with crippling [...]

The P58-million graft case filed against former Makati City Mayor Elenita Binay, together with five other respondents, has been dismissed by the Sandiganbayan ruling that the evidence was not sufficient to prove alleged overpricing of furniture for the Makati City Hall. The anti-graft court’s second division said there is insufficient basis for the trial of [...]

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 [...]

Upon the order of Senate President Juan Ponce Enrile, Senate doctors, led by Dr. Mariano Blancia Jr. went to the Ligot couple’s residence to check the true health status. They proceeded to house of the Ligots in an “undisclosed” location to check if their declaration of “being sick” were true.
The doctor said former military comptroller [...]

The Philippine government wasn’t able to do much to alleviate the plight of the three Filipinos who were caught for drug smuggling in China. They have been sentenced to death and the date of their execution would on March 30, 2011.
According to Department of Foreign Affairs (DFA) Spokesman Ed Malaya, the Fujian People’s Court and [...]

After eight hours of marathon debates, the House of Representatives voted 212-46 for the impeachment of Ombudsman Merceditas Gutierrez. Four abstained from voting. The House impeached Gutierrez, eight months since the first of the two impeachment complaints was filed against her in July.
Among those who voted “no” were former president and now Pampanga Representative Gloria [...]