Puregold sets IPO date to September 21
The Puregold Price Club Inc. will launch its initial public offering (IPO) on September 21, 2011. The supermarket chain hopes to raise P12.4 billion in its IPO which it will use for its planned expansion. The IPO, which is only the second in the country this year, was approved by the Philippine Stocks Exchange for [...]
August 28, 2011
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Tags: business news, finance, initial public offering, investment, IPO, money, Philippines, PSE, shares of stocks, stocks · Posted in: Announcement, Business News, Corporations, economy, Foreign exchange, IPO, marketing, money, Opportunities, Philippine business news, Philippines, Pricing, Products, promotions
Manila Water signed P500M loan deal for its Boracay unit
Boracay Island Water Co. Inc. signed a P500-million term loan facility with Development Bank of the Philippines and Security Bank recently. The terms of the loan include an option to increase the amount the P1 billion. A subsidiary of the Ayala-led Manila Water Co., the loan will be used to finance the additional capital expenditure [...]
August 2, 2011
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Tags: bank loan, Boracay, Boracay Island Water, business news, finance, investment, Manila Water, P500 million loan, Philippines, revolving fund · Posted in: Announcement, banking, Business News, business opportunity, Corporations, economy, entrepreneurship, finance, Government, International relations, investments, Loans, money, Philippine business news, Philippines
BIR falls short of its target for the first semester of 2011
The Bureau of Internal Revenue missed its target for the first six months of the year. The BIR falls short of its target collection, with its total collection in totaling P67 billion which is 2.2% lower that its P68.5-billion target. Last month’s collection brings total collection for the first semester of 2011 to P458 billion, [...]
July 15, 2011
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Tags: BIR, collection target, economy, finance, money, Philippines, tax, tax collection, Taxation, taxes · Posted in: Announcement, Business News, economy, franchise, Government, Law, money, Philippine business news, Philippines, Taxation
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
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
Security Bank acquires Premiere Bank
Security Bank acquires Premiere Bank. One of the country’s largest lenders in terms of assets, Security Bank Corp. acquired 98 percent of Premiere Development Bank for P1.3 billion. The bank said the acquisition is part of its plan to expand it bank network, build its loan portfolio and expand its customer base. Security Bank bought [...]
June 3, 2011
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Tags: acquisition, bank, banking, business news, commercial bank, finance, lenders, merger, Philippines, Premiere Bank, Security Bank, shareholders, thrift bank · Posted in: banking, Business News, Corporations, Customer Service, finance, investments, Loans, money, Philippine business news, Philippines
Oil companies rolled back oil prices
Following the lead of independent oil players, big companies Petron and Shell rolled back fuel prices on Sunday. Unioil, Seaoil and Total had rollbacks on fuel prices implemented on Saturday. Petron and Shell both cut their diesel and kerosene prices by P2 per liter, their premium gasoline by P1.75 per liter, and their regular gasoline [...]
May 14, 2011
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Tags: business news, finance, global fuel prices, oil price rollback, Petron, Philippines, Seaoil, Shell, Total, UniOil · Posted in: Announcement, Consumers, Corporations, economy, finance, money, Philippine business news, Philippines, Pricing
Additional daily allowance instead of wage increase
Instead of a wage increase, Metro Manila employees will get an additional P22 a day as “emergency” cost of living allowance (COLA). The Department of Labor and Employment (DOLE) said the increase was approved by the Regional Tripartite Wages and Productivity Board-NCR (RPTWPB-NCR) following discussions with employers and workers’ union. This would bring the total [...]
May 9, 2011
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Tags: business news, COLA, cost of living allowance, employees, finance, labor department, money, Philippines, salary increase, wage increase, Wage Order No. 16 · Posted in: Announcement, Consumers, economy, finance, Government, money, Philippine business news, Philippines, Poverty
Banco Filipino went on bank holiday, blames BSP
The Banco Filipino Savings and Mortgage Bank went on a bank holiday yesterday, which brought concerns to its depositors who were not aware of what was happening with their bank. The thrift bank has been encountering heavy withdrawals lately as many of its clients were worried about its financial health. Banco Filipino currently has about [...]
March 15, 2011
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Tags: Banco Filipino, bank holiday, bank run, Banks, BSP, Central Bank, finance, Monetary Board, overdraft, Philippine Bank · Posted in: banking, Consumers, economy, finance, Philippine business news, Philippines
