Philippines News

Oil supply to normalize in a week, Shell exec says

GMANews.TV - Thursday, November 19

Oil companies on Wednesday said the supply of petroleum products in the country is expected to normalize in a week. More »

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Philippines goes beyond deficit cap set for 2009
GMANews.TV - Thursday, November 19
(Updated) Spending limits set for the year has been breached after the Philippine government collected fewer taxes and released more funds for infrastructure projects.
Manila c.bank sees no need for exit strategy yet
Reuters - Thursday, November 19
(Adds details, background)
US may hike sugar quota of RP, SRA says
GMANews.TV - Thursday, November 19
The Philippines may export higher volume of sugar to the US next year, the Sugar Regulatory Agency said on Wednesday.
SM to open fourth mall in Cavite
GMANews.TV - Thursday, November 19
SM Prime Holdings Inc. will open its 36th mall in the country and the fourth in Cavite on Friday.
Ortigas developer eyes refurbishment of Greenhills in 2010
GMANews.TV - Wednesday, November 18
Ortigas & Co., which developed Tiendesitas Complex and the Greenhills Shopping Center, is spending P2 billion for its capital outlay next year.
RP shares end mixed on flat PLDT
GMANews.TV - Wednesday, November 18
Philippine share prices closed mixed on Wednesday as telecommunications giant and index heavyweight Philippine Long Distance Telephone Co. has been kept at the sidelines of the bourse's rally.
DA lifts import ban on US meat, bone meal imports
GMANews.TV - Wednesday, November 18
The Department of Agriculture (DA) has lifted the temporary ban on meat and bone meal imports from the United States after global health authorities place the country under “controlled-risk status" of the mad cow disease.
Atlas subsidiary delivers $9-m worth of metals
GMANews.TV - Wednesday, November 18
Carmen Copper Corp., a subsidiary of listed Atlas Consolidated Mining and Development Corp., has delivered some $9-million worth of copper concentrates to China.
WB approves loan for RP's conditional cash transfer
GMANews.TV - Wednesday, November 18
Washington-headquartered World Bank on Wednesday announced that it approved a new loan for the Philippines to partly fund the country's conditional cash transfer (CCT) program, among others.
Pag-IBIG to sell bonds for debt payments
GMANews.TV - Wednesday, November 18
The state-led Home Development Mutual Fund (HDMF), also known as the Pag-IBIG Fund, will sell bonds to pay for maturing debts.
Land Bank's profits up by nearly half after it provided more loans
GMANews.TV - Wednesday, November 18
State-led Land Bank of the Philippines (LBP) said its profits rose by nearly half after providing more loans to its customers.
Treasury rejects bids for 10-year debt securities
GMANews.TV - Wednesday, November 18
The Philippines failed to raise fresh cash from investors after it rejected bids for 10-year treasury bonds on Tuesday.
Philippine firms prepare for the next 'Ondoy' and 'Pepeng'
GMANews.TV - Wednesday, November 18
The devastation caused by typhoons Ondoy and Pepeng prompted listed companies to ramp up their allocation for disaster recovery program.
Magnolia to open new ice cream plant in Laguna
GMANews.TV - Wednesday, November 18
Magnolia, the Philippines’ third-largest ice cream maker, will open a Laguna manufacturing facility next year, hoping the move will help make it number one.
SMBI eyes acquisition of overseas beer business next year
GMANews.TV - Wednesday, November 18
San Miguel Brewery Inc. is seeking to complete the acquisition of the international beer business from parent firm San Miguel Corp. next year.
Philippines rejects bids at 7-yr T-bond auction
Reuters - Tuesday, November 17
MANILA, Nov 17 (Reuters) - The Philippines' Bureau of Treasury withdrew its offer of 6.5 billion pesos ($139 million) worth of reissued 7-year bonds on Tuesday after banks gave high bids.
SunPower investigates possible accounting errors
AP - Tuesday, November 17
SAN JOSE, Calif. - SunPower Corp. said Monday an investigation is under way into whether its manufacturing operations in the Philippines made unsubstantiated accounting entries during the first three quarters of 2009.
Manila's PSALM sets $600 mln bond; debt swap offer
Reuters - Tuesday, November 17
* PSALM to raise up to $600 mln from new 2024 bond issue
S&P says PSALM eyes new 2024 notes, reopening 2019 bonds
Reuters - Tuesday, November 17
MANILA, Nov 16 (Reuters) - Standard & Poor's Ratings Services said on Monday it had assigned a BB minus rating to proposed new 2024 notes and the reopening of 2019 notes by Manila's state agency PSALM.