The property development of the Ayala group will be building a new call center area in the south. The Ayala Land Inc. (ALI) is planning to transform a 2-hectare property in Iloilo City into a business process outsourcing (BPO) hub. The project would consist of 3 BPO facilities with a total of 19,000 square meters [...]

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 [...]

Ayala Land Inc. (ALI) continues its expansion plan for the year especially in Mindanao. The property giant is constructing an integrated mixed-use complex in Cagayan de Oro, which is estimated to cost at least P2.5 billion.
ALI senior vice president and chief finance officer Jaime E. Ysmael, in a disclosure to the Philippine Stock Exchange (PSE), [...]

The country’s largest operator of mall chains, SM Prime Holdings Inc., is yet on another expansion as it announced its plan to start the construction of its new shopping mall located within the 240-hectare South Road Properties (SRP) in Cebu 2010.
According to SM Prime chief financial officer Jeffrey Lim, the proposed shopping center will be [...]

Many fears the disadvantages that it could bring, such as affecting the trade of vegetable dealers in the town and that it will worsen Benguet’s traffic problem. But Mayor Artemio Galwan is adamant on the plan of building a P268-million commercial complex in the public market area.
“The trend is now to erect malls, it’s a [...]

SM Prime Holdings Inc. (SMPHI), member of the SM group companies, the largest mall chain in the country today, will soon be building the biggest shopping mall in the Visayas and Mindanao. In three years’ time, the P2-billion land deal between SMPHI and the city of Cebu is expected to be finished.

A local firm engaged in the production of renewable energy is planning to put up a biomass plant in Quezon. A 10 megawatt (MW) biomass plant in Quezon is one of the upcoming projects of Ecoenerhiya. Company director for business development, Antonio Lopez, was quoted as saying that the project would cost about $36 million [...]

After the implementation of the Bureau of Internal  Revenue’s (BIR) Oplan Kandado program, the agency’s preliminary figures on VAT collection as against the total revenue rose from 18% to 22%, according to revenue agency commissioner Nelson Aspe.
More companies now see to it they remit their as a result of the BIR’s drive to shut down [...]

Filinvest Land Inc. plans to increase its stake in two property firms. The property unit of business tycoon Andrew Gotianun, in its disclosure to the Philippine Stock Exchange, said that its board approved the purchase of the 40% stake of Africa-Israel Properties Philippines Inc.  in Cyberzone Properties Inc.  (CPI) and the 40% interest of Africa-Israel [...]

The Abacus Consolidated Resources & Holdings Inc. (ACRHI) announced that it will be unloading is entire stake in the Pacific Online Systems Corp., the exclusive online lottery system provider of the Philippine Charity Sweepstake Offices in the Visayas and Mindanao.

The Kepco SPC Power Corp. (KSPC), a joint venture between Korea Electric Power Corp. and SPC Power Corp, acquired a loan from the Asian Development Bank (ADB) for the construction of a major power plant in the Visayas.
The ADB has approved the grant of $120-million 12-year term loan for the construction of a 200-megawatt (MW) [...]

The country’s oldest mining company, Benguet Corp., gets a new leash of life as it entered into a financing agreement with a Chinese company. The listed Benguet Corp. has signed a memorandum of agreement (MOA) with MinMetals International (HK) Ltd. which would allow them to resume the exploration activity at its King-king project in Pantukan, [...]

The LRT-2 which currently runs 13.8 kilometers and traverses five cities in Metro Manila – which are Pasig, Marikina, Quezon City, San Juan, and Manila along the major thoroughfares of Marcos Highway, Aurora Boulevard, Ramon Magsaysay Boulevard, Legarda and Recto, is undergoing study for its on both its east and west end.

The Canadian government has allotted $18 million in development assistance to help foster job creation in poor municipalities in the Philippines.
This was announced by Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway Stockwell Day. “We are concluding or announcing the $18 million Canadian International Development Agency (CIDA) assistance to work with a [...]

Despite of a lot of oppositions from candidates and political parties, the 5% withholding tax on campaign expenditures will soon be imposed. In fact, the Bureau of Internal Revenue (BIR) has already issued last Friday the guidelines on the said campaign tax.
Revenue Memorandum Order 35-2009 was issued by BIR officer-in-charge Joel Tan Torres which lays [...]

A new hospital tower which boast of a more efficient, patient-friendly design and ambiance that would address the needs of its growing clientele for more services and better facilities, is set to begin construction soon by the Asian Hospital and Medical Center.

Starting today, Friday, property developer Megaworld Corp. will begin with the offering of five-year retail bonds carrying a coupon rate of 8.46% per annum. The Megaworld, in its disclosure to the Philippines Stock Exchange (PSE) said, it signed an agreement with joint lead managers and book runners BDO Capital & Investment Corp., and HSBC Ltd. [...]

Internet giant Google has come to the aid of Philippine business as it offers business stimulus package to local businesses. Google, together with STI Colleges has offered to build free websites for 200 micro, small and medium-sized enterprises (MSMEs). Aside from that, they will also be given P2,000 worth of free credits on Google AdWords.

The Subic Bay Freeport Zone has got big investor in its fold, as the Subic Bay Metropolitan Authority (SBMA) has signed a deal with property giant Ayala Land Inc. (ALI) to lease and develop a 7.5 hectare government property at the heart of the Subic central business district.