Philippines News

Andrew Tan's holding firm says earnings up on higher revenues

GMANews.TV - Friday, November 20

Andrew Tan-led Alliance Global Group Inc. on Friday said nine-month earnings rose by nearly a fifth on the back of higher revenues from its units. More »

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Bankard buys three floors in affiliate's building to save on rent
GMANews.TV - Friday, November 20
Credit card issuer Bankard Inc. said its acquisition of three floors in a building project owned by an affiliate was carried out to save on rent and earn from its investments.
Megaworld to list bonds on PDEX
GMANews.TV - Friday, November 20
Developer Megaworld corp. will be listing its fixed-rate bonds, the proceeds of which will be used for the development of a mixed-use project in Fort Bonifacio, on the Philippine Dealing & Exchange Corp.
RP shares plunge on weak US, Asian markets
GMANews.TV - Friday, November 20
Philippine share prices retreated on Friday, snapping a three-day upswing as investors digest a number of negative developments, analysts said.
JG Summit completes peso bond issue
GMANews.TV - Friday, November 20
JG Summit Holdings Inc., the publicly-listed flagship company of the Gokongwei group, completed its maiden peso bond issue and increased the size of its offering following strong demand from investors.
Ayala Land creates subsidiary for small retail centers
GMANews.TV - Friday, November 20
Property giant Ayala Land Inc. will be creating a wholly-owned subsidiary to handle the development of "neighborhood centers", small format retail facilities, to be located within the company's growth centers in Luzon.
Preneed sales in August slip by more than half
GMANews.TV - Friday, November 20
Preneed sales in August dropped by more than half owing to the weak subscription to education, life and pension plans.
SM Prime eyes overseas listing of China malls
GMANews.TV - Friday, November 20
SM Prime Holdings Inc., the country’s largest owner and operator of shopping malls, is studying the possibility of overseas listing for the company which operates its malls in China.
Arroyo govt failed to create the millions of new jobs it promised
GMANews.TV - Friday, November 20
The Arroyo administration was unable to create the jobs it promised to generate during the past five years, a report made by the Philippines’ socioeconomic body said.
Philippines sees Q3 GDP growth at 1.6-2.6 pct on year
Reuters - Friday, November 20
(Adds details, background)
RP to tear down Fujimi property so that it can lease land for 50 years
GMANews.TV - Friday, November 20
Despite opposition from cultural conservationists, a government-owned structure in Tokyo will be demolished so that it can be leased for 50 years, helping earn funds for the cash-strapped Arroyo administration.
Finex names SM's Sio CFO of the year
GMANews.TV - Thursday, November 19
An association of financial executives in the country chose Jose Sio of the SM Group, owned by the Sy family and the Philippines' wealthiest, as the recipient of CFO (chief financial officer) of the Year Award.
Alphaland moves one step closer to backdoor listing
GMANews.TV - Thursday, November 19
Property firm Alphaland Development Inc. , led by former trade minister Roberto Ongpin, will do a backdoor listing at the Philippine Stock Exchange following a deal with listed Macondray Plastics Inc.
New taxes ruled out after RP breaches deficit cap
GMANews.TV - Thursday, November 19
The Arroyo administration ruled out any new tax measures after the government spent more than expected, breaching its full-year deficit cap in ten months.
Manila could launch global, yen bonds as early as January
Reuters - Thursday, November 19
MANILA, Nov 19 (Reuters) - The Philippines could launch yen and dollar bonds as early as January, but the exact timing and size of the debt issues will depend on market conditions, a senior official said on Thursday.
Megaworld says fixed-rate bonds oversubscribed
GMANews.TV - Thursday, November 19
Listed developer Megaworld Corp. on Thursday announced that its fixed rate bonds received significant interest from investors.
Philippines breaches 2009 budget deficit ceiling: govt
AFP - Thursday, November 19
MANILA (AFP) - - Weak revenues caused the Philippines to exceed its full-year budget deficit target after just 10 months, the government said Wednesday.
(Updated) Intex Resources' environmental clearance temporarily suspended
GMANews.TV - Thursday, November 19
(Updated) Environmental clearance given to Intex Resources has been suspended for 90 days, effectively halting the Norwegian company’s nickel mining operations in Mindoro.
Intex Resources' environmental clearance temporarily suspended
GMANews.TV - Thursday, November 19
Environmental clearance given to Intex Resources has been temporarily suspended, effectively halting the Norwegian company’s nickel mining operations in Mindoro.
Manila freezes Intex's permit for $2.4 bln nickel project
Reuters - Thursday, November 19
MANILA, Nov 18 (Reuters) - The Philippine government on Wednesday suspended a mining permit given last month to the $2.4 billion nickel project of Norwegian firm Intex Resources ASA <ITXX.OL> following opposition from local communities.