The Philippine Peso weakened on Thursday as an effect of investors concerns in the local economy. After hitting its strongest thus far in three years early this week, the peso closed at 42.17 against the US dollar on Thursday. Down by 6 centavos from Wednesday’s 42.11.

Nestlé Philippines has voluntarily recalled a number its Maggi instant noodles after some of the tested were tested for possible salmonella contamination. The company said it found traces of salmonella in two batches of the noodle product’s beef variant. “The product recall is a precautionary measure… to ensure the safety and quality of our products,” [...]

Taiwanese businessmen are seriously considering relocating their manufacturing facilities to the Philippines from mainland China. The Manila Economic Cultural Office (MECO) said the decision was made by the Taiwan diplomatic row with the Philippines following their frustrations from the stringent labor requirements in China.
The Taiwanese businesses are engaged in industrial plastics manufacturing with estimated investments [...]

Eight companies are vying for the operations of major Metro Manila train lines. Conglomerate Ayala Corp., San Miguel Corp., and Pangilinan-led infrastructure giant Metro Pacific Investments Corps. are the local groups planning to bid for the P15-billion contract, while five foreign companies have also acquired bid documents worth P500,000 each for the project, according to [...]

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 [...]

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 Department of Justice (DOJ) subpoenaed Ang Galing Pinoy Party List Rep. Juan Miguel “Mikey” Arroyo and his wife Angela ordering them to appear before the justice department to answer the charges for the P73.85-million tax evasion cased filed by the Bureau of Internal Revenue (BIR) April 7.
The former presidential son and his wife were [...]

Philippine company Alliance Select Food International Inc. sealed a deal to acquire 100 percent of US company Spence & Co. Ltd., a Massachusetts-based salmon smoking and curing company who specializes in the production of smoked salmon and seafood, prepared in the Scottish tradition of its founder Alan Spence. The company caters to the high-end market [...]

San Miguel Corp. said it is interested in taking over the operations of the Ninoy Aquino International Airport Terminal (NAIA) 3. San Miguel said it will join in the bidding for NAIA 3 should the government open it for privatization.
In its disclosure to the Philippine Stock Exchange, the company stated, “The company may participate in [...]

The Nestlé Prize in Creating Shared Value is open for nominations. The award, which is open globally, aims to recognize an individual, non-government organization, or small enterprise working in the field of nutrition, water, or rural development. The nomination will be open until June 30, 2011.
The Nestlé Prize in Creating Shared Value was launched in [...]

HRMall Inc., a business process outsourcing (BPO) firm backed by the Ayala group, has acquired IQ BackOffice LLC. Based in Los Angeles, California, IQ BackOffice provides backroom finance and accounting services to mid-sized companies in the United State. It delivers high quality, software-enabled and real-time finance and accounting BPO services to US companies.
HRMall is one [...]

Multinational firm Johnson & Johnson was fined by the United States authorities $70 million on for bribing doctors in Europe and paying kickbacks for contracts under a United Nations (UN) relief program in Iraq.
According to the US Department of Justice and Securities and Exchange Commission, the cosmetics and drug giant has paid doctors and hospitals [...]

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 [...]

The Bureau of Internal Revenue (BIR) filed a P73.85 million tax evasion case against Ang Galing Party-list Representative Juan Miguel Arroyo and his wife, Angela. Perhaps, the biggest fish yet, in its campaign against tax evaders, BIR Commissioner Kim Henares said the couple were charged for attempting to defeat taxes and failing to file income [...]

The ongoing investigation of former military comptroller Lieutenant General Jacinto and wife Erlinda Ligot has produced results as United States Ambassador Harry Thomas Jr. announced on Thursday that the US government has turned over to the Philippines $132,000 worth of assets of Mrs. Ligot.
Thomas, in his meeting with Justice Secretary Leila De Lima, said, “Today, [...]

To beef up their line-up, the Philippine football team will be holding try-outs on April 9 to 10 at the Gellert Park in Daly City, near San Francisco. Team captain Aly Borromeo and defender Anton Del Rosario will conduct the tryouts, they are looking to recruit talents in the 15-24 age bracket. Borromeo and Del [...]

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 [...]

Kalibo, Aklan is all set for the celebration of the Ati-atihan Festival. Observed in the third week of January, Ati-atihan is considered as the mother of all Philippine festivals and fiestas, and this year, the town is all set for a weeklong spectacular show next until its culmination on January 16.
Mayor William S. Lachica of [...]

Good news for many of us, Mr. President Benigno Simeon C. Aquino III is coming home with $2.8 billion pledges of investment. This also includes the Millennium Challenge Corp. that grant $434 million and will be using for road construction, tax administration projects and specially for fighting the poverty.
This will help our economy to grow [...]