Archive for the ‘finance’ Category
PDIC continues to pay Banco Filipino depositors
Depositors of the Banco Filipino Savings and Mortgage Bank continue to get their money and are being serviced by the Philippine Deposit Insurance Corp. (PDIC). Banco Filipino was closed last March 17 after its branches could no longer service withdrawals and was put under receivership by monetary officials. The PDIC said in a statement that [...]
July 22, 2011
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Tags: Banco Filipino, bank, banking, business news, CSO, deposit claims, deposit insurance, depositors, money, PDIC, Philippines · Posted in: Announcement, banking, Consumers, finance, Government, money, Philippine banks, Philippine business news, Philippines
PAL posted $72.5 million profit for fiscal year ended March 2011
The Philippine Airlines (PAL) announced last Friday that it made a big turnaround from its marginal loss last year and posted a profit this year. Flag carrier PAL posted an income of $72.5 million for its fiscal year ending March 2011, overturning its $14.4 million loss the previous year. Its revenues soared to $1.67 million [...]
July 22, 2011
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Tags: business news, fiscal year, flag carrier, income, PAL, Philippine Airline, Philippines · Posted in: Business News, Corporations, economy, finance, investments, Philippine business news, Philippines, Transportation, Travel
National Bookstore plans IPO
National Bookstore is seriously thinking of an IPO (initial public), according to company president Alfredo Ramos. The country’s largest bookstore is considering IPO to raise funds for its planned expansion in Southeast Asia. Ramos said they are eyeing China for their future site after successfully setting foot in Hong Kong. He said setting up branches [...]
June 27, 2011
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Tags: business news, initial public offering, investment, IPO, National Bookstore, NBS, passive income, Philippines, PSE, shares of stocks, stockmarket · Posted in: Announcement, Business News, Corporations, economy, entrepreneurship, finance, investments, IPO, marketing, money, Opportunities, Philippine business news, Philippines, Stock Market
SMC subsidiary earmarked $3 M for redevelopment of Boracay Airport
Trans Aire Development Holdings Corporation is earmarking $300 million for its plan to redevelop the Boracay Airport. A subsidiary of San Miguel Corporation, Trans Aire will develop Boracay Airport to bring it up to par with international standards. San Miguel president Ramon Ang said the redevelopment of the airport includes a 5,000 room budget hotel [...]
June 27, 2011
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Tags: Boracay, Boracay Airport, business news, Philippines, San Miguel, SMC, tourism, Trans Aire · Posted in: Business News, Corporations, economy, Employment, finance, investments, Job Opportunities, money, Opportunities, Philippine business news, Philippines, Tourism, Travel
Henry Sy tops list of 40 richest men in the Philippines
Henry Sy, the patriarch who is on the forefront of the SM mall chains, is Forbes Magazine’s richest man in the Philippines. Henry Sy remains Philippine’s richest man with a net worth of $7.2 billion, $2.5 billion higher from last year’s $5 billion. The annual listing of 40 richest men in the country of Forbes [...]
June 24, 2011
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Tags: 40 richest men in the Philippines, billionaires, business news, finance, Forbes Magazine, Henry Sy, investment, John Gokongwei Jr., Lucio Tan, money, net worth · Posted in: Announcement, economy, entrepreneur, entrepreneurship, finance, money, People, Philippine business news, Philippines
Jollibee to open 250 new stores this year
Philippines’ top fastfood chain, Jollibee Foods Corp, plans to open up 280 new stores before the end of 2011. Jollibee is looking to open 90 stores in China, 30 in other countries that it did not identify, and 160 new branches in the country.
June 23, 2011
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Tags: capex, China, economy, expansion, fast food, fastfood, franchise, Jollibee, Jollibee Foods Corporation, Philippines · Posted in: Business News, Corporations, economy, Employment, entrepreneur, finance, franchise, Job Opportunities, marketing, Philippine business news, Philippines, Products
Ongpin-led group most like to gain control of PBCom
ISM Communication Corp., a company led by former trade minister Roberto V. Ongpin, leads the race for the control of Philippine Bank of Communications (PBCom). PBCom, with existing 64-branches, is on the auction block commanding a floor price of P4.3 billion, or about P25 per common and preferred share. It has attracted suitors wishing to [...]
June 23, 2011
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Tags: Banco De Oro, bank, banking, BDO, BSP, business news, finance, financial advisor, ISM, Macquarie, Ongpin, PBCom, Philippines, PSE · Posted in: banking, Business News, Corporations, finance, franchise, investments, money, Philippine banks, Philippine business news, Philippines
Banco De Oro sets eye on acquiring PBCom
Banco de Oro plans to acquire PBCom or the Philippine Bank of Communications. Banco de Oro Unibank submitted an offer to over the operations of PBCom. PBCom confirmed in its disclosure to the Philippine Stock Exchange (PSE) that BDO indeed submitted a proposal to invest in the bank. The Henry Sy-led BDO, however, in its [...]
June 21, 2011
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Tags: Banco De Oro, bank, banking, BDO, BSP, business news, finance, PBCom, Philippines, PSE · Posted in: Announcement, banking, Business News, Corporations, Customer Service, finance, investments, money, Philippine banks, Philippine business news, Philippines
PhilHealth to cover 5.2 M indigents by July
Philippine Health Insurance Corporation (PhilHealth) president and Chief Executive Officer Rey B. Aquino assured on Tuesday that 5.2 million Filipinos who belong to the poorest segment of the population will be added to those covered by its health insurance program by the end of June. The Philhealth chief said this is in line with President [...]
June 21, 2011
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Tags: Government, health coverage, indigent, insurance, Philhealth, Philippines, public service · Posted in: Announcement, Consumers, economy, finance, Government, Health, Medicine, money, Philippine business news, Philippines
Nestlé investing P4.8 billion in its new plant
Nestlé is investing some P4.8 billion for its new factory in Tanauan, Batangas. The new factory, which is the company’s fifth in the country, is now under construction and is expected to start operating next year. John Miller, Nestlé Philippines Inc. chairman and chief executive officer said the new factory will be manufacturing Coffeemate. He [...]
June 21, 2011
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Tags: coffee creamer, coffeemate, investment, milk products, Nestlé, new factory, Philippines, tapioca · Posted in: Business News, Corporations, economy, Employment, finance, investments, money, Opportunities, Philippine business news, Philippines
