Philippine Business News

PSE set to extend trade hours

2011-12-19T15:09:00.003+08:00

Skeptics told to have faith in board’s decision By: Doris C. Dumlao Philippine Daily Inquirer 1:58 am | Monday, December 19th, 2011 The Board of the Philippine Stock Exchange last week affirmed a plan to further extend trading hours until 3:30 p.m. starting Jan. 2 next year, as it aims to align the local bourse with regional markets. PSE chair Jose T. Pardo told reporters Friday

P&G head fights pressure with calmness

2011-12-11T11:12:00.001+08:00

By: Abigail L. Ho Philippine Daily Inquirer 11:40 pm | Saturday, December 10th, 2011 SIDDIK Tetik poses with P&G products manufactured and sold in the Philippines. In the fast moving consumer goods industry, pressure is a daily fare and stress in nothing out of the ordinary. Different brands fight over the Filipino consumers’ scarce cash on a daily basis and market leadership

Jollibee completes sales of coffee and gelato business

2011-12-01T21:08:00.001+08:00

December 1, 2011 12:08pm Jollibee Foods Corp., the country's largest owner and operator of fastfood restaurants, has completed the sale of Caffe Ti-Amo, a Korean restaurant brand to CafeFrance Corp.In a statement to the Philippine Stock Exchange on Thursday, Jollibee Foods said subsidiary Coffeetap Corp., which held the Caffe Ti-Amo franchise, completed the sale on November 30 and also

EDC to buy majority stake in four South America projects

2011-12-01T21:06:00.001+08:00

December 1, 2011 12:40pm Publicly listed Energy Development Corp. (EDC) has signed a deal giving it majority stake in four geothermal projects in Chile and Peru.EDC told the Philippine Stock Exchange on Thursday that it signed a heads of terms agreement (HOTA) with Australia’s Hot Rock Ltd. to buy 70-percent equity in the South American geothermal projects.The HOTA sets the framework and

MPIC acquires controlling stake in Asian Hospital from Thai group

2011-11-08T20:58:00.001+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 10:19 am | Tuesday, November 8th, 2011 Asian Hospital MANILA, Philippines –Infrastructure holding firm Metro Pacific Investments Corp. has inked a deal to acquire the controlling stake of Thai hospital group Bumungrad in the upscale 219-bed Asian Hospital in Filinvest Corporate City

Before there was social enterprise, there was Mountain Maid

2011-11-06T13:11:00.003+08:00

By: Maurice Malanes Inquirer Northern Luzon 10:07 pm | Saturday, November 5th, 2011 A WORKING student displays chunks of freshly washed ube that are stored at the Sisters of the Good Shepherd convent in Mines View, Baguio City. Many products from food to clothing are produced and sold here. BAGUIO CITY – After finishing high school in 2008, Jackie Rose Lubbong, daughter

BDO profits jump 19% in nine months

2011-11-03T11:37:00.000+08:00

Posted on November 03, 20111 10:26:00 AM Profits of Sy-led Banco de Oro Unibank, Inc (BDO) climbed by around 19^ in the January to September period on the back of the bank's strong performance across all business segments amid a difficult environment here and abroad. In a disclosure to the stock exchange this morning, the bank said it earned P7.6 billion in nine months ending in September,

Citi names top stock picks

2011-11-03T10:34:00.002+08:00

EDC, MPIC, ALI, BDO, AGI on short list By: Doris C. Dumlao Philippine Daily Inquirer 8:51 pm | Wednesday, November 2nd, 2011 Global banking giant Citigroup sees selective opportunities in the Philippine stock market and is particularly upbeat on consumer and infrastructure issues. Citi’s top five stock picks are Energy Development Corp., Metro Pacific Investments Corp.,

PHL shares fall on heels of losses overseas

2011-11-02T13:48:00.000+08:00

VICTOR D. SOLLORANO, GMA News 11/02/2011 | 01:30 PM On the heels of a general downtrend in global markets, Philippine shares fell in moderate trading marked by plenty of cross transactions, traders said Wednesday. The main Philippine Stock Exchange index lots 73.13 points or 1.69 percent to close at 4,260.41. Over 4.679 billion shares worth P4.684 billion changed hands in Wednesday’s

Philex posts record profit

2011-10-28T19:58:00.000+08:00

Best 9-month income in firm’s 55-year history By: Riza T. Olchondra Philippine Daily Inquirer 2:10 am | Friday, October 28th, 2011 Philex Mining Corp. on Thursday said it posted P4.35 billion in net income for the first nine months of 2011 on the back of higher production and metal prices. Philex, which is partly owned by Hong Kong’s First Pacific Co Ltd., said in a report

Sun Life Insurance gains control of Yuchengcos’ GrepaLife Financial

2011-10-25T20:18:00.000+08:00

Tuesday, 25 October 2011 18:28 Jun Vallecera / Reporter CANADIAN insurer Sun Life Insurance anticipates carving a greater share of the local market now that it has acquired 49 percent and effective management control of GrepaLife Financial Inc., owned by the Yuchengco Group of Companies. The joint venture had been branded earlier

Thai noodle shop to pilot franchise concept in PHL

2011-10-25T20:14:00.001+08:00

Tuesday, 25 October 2011 18:22 Max V. de Leon / Reporter Thailand’s 70-year-old rice and noodle shop Im Thai is making the Philippines its springboard for its Asian franchise expansion. Greg Lim, business development manager of Blims Fine Furniture, said he secured the license to develop the franchise concept for Im Thai and then

MetroPac buys Cardinal Santos hospital operator

2011-10-25T19:58:00.001+08:00

Monday, 24 October 2011 21:11 Miguel R. Camus / Reporter Metro Pacific Investments Corp. (MPIC), the locally listed infrastructure unit of Hong Kong-based First Pacific Co. Ltd., is spending P300 million to acquire the operator of the Cardinal Santos Medical Center in San Juan, Metro Manila, from an affiliate company. MPIC told

Macquarie shoots down criticism of Meralco deal

2011-10-22T09:59:00.001+08:00

By: Daxim L. Lucas Philippine Daily Inquirer 2:56 am | Saturday, October 22nd, 2011 At least one foreign fund manager has taken notice of the ongoing probe of government financial institutions’ (GFIs) investment activities during the past administration, and seems worried by the direction it is headed in. In particular, the local unit of Australian financial giant Macquarie

Be an entrepreneur

2011-10-21T16:02:00.001+08:00

Thursday, 20 October 2011 19:45 Zoilo ‘Bingo’ Dejaresco III / Free Enterprise IN the post-World War II years, big business and the government used to provide three of four jobs in many countries, according to business guru Peter Drucker. No longer. “Downsizing” and “computerization” destroyed millions of jobs globally. The Asian

2011-10-20T17:35:00.001+08:00

Wednesday, 19 October 2011 21:12 John Mangun / Outside the Box Greed has always been a negative concept. The English word we use is from the Old Norse, which meant to have a strong desire for food or drink. When we look back to ancient Greek and Roman times, the idea of greed was a bit different than what we think of today. Then it meant to want more and more as to never

Love for photos develops into profitable venture

2011-10-15T12:11:00.002+08:00

By GoNegosyo (philstar.com) Updated October 14, 2011 04:12 PM

They made it even without a diploma

2011-10-15T11:38:00.001+08:00

EntrePinoy By GoNegosyo Home Updated October 14, 2011 04:19 PM “We did not finish college and could never get white-collar jobs, so we had to think of a good business.” He was saddled with life’s many disadvantages, not least of which was being a man with a woman’s name. However, Jennifer Alejo, 33, was not one to give up easily, no matter the odds. Jennifer was a security guard in

AboitizPower head is Entrepreneur of the Year

2011-10-14T12:11:00.001+08:00

By Carlo P. Mallo Oct 13, 2011 Growing the family power company from producing 22 megawatts to a staggering 3,137 megawatts is but one of the reasons why Erramon Aboitiz, president and chief executive officer of AboitizPower Corp. is this year’s Ernst & Young’s Entrepreneur of the Year Philippines 2011.Leading the family company into a new era, Aboitiz spearheaded the company’s foray

From a backyard venture to a global enterprise

2011-10-09T15:52:00.000+08:00

MEKENI’S RISE TO SUCCESS Raquel P. Gomez Philippine Daily Inquirer 11:31 pm | Saturday, October 8th, 2011 FELIX and Meding Garcia In its 25 years of existence, Mekeni Food Corp. has endured and survived situations that would have forced other similar companies to close shop. Mt. Pinatubo exploded in 1991 and engulfed in lahar the town of Porac in

PSE posts P15.6 B in net foreign buying

2011-10-07T18:43:00.002+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 2:32 pm | Friday, October 7th, 2011 MANILA, Philippines – Foreign investors bought P15.6 billion more local stocks than they sold in the first nine months of the year despite the extremely volatile global markets, the Philippine Stock Exchange said Friday. The net foreign buying in the local stock market for the nine-month period

Puregold down 12% on listing

2011-10-06T15:40:00.002+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 4:21 am | Thursday, October 6th, 2011 The share price of Puregold Price Club Inc., the country’s first purely retail stock play, faltered by 12 percent during the company’s trading debut on Wednesday given the volatility in global financial markets. Still, top company officials committed to boost profit expand the firm’s

Stocks rally on German vote

2011-10-01T10:57:00.000+08:00

Posted on September 30, 2011 07:19:41 PM OPTIMISM AFTER Germany approved an increase in the euro zone’s bailout fund and window dressing on blue-chip issues pushed stocks higher for the third session this week on Friday. The Philippine Stock Exchange index (PSEi) rallied by 3.15% or 122.02 points to 3,999.65, 0.35 point shy of piercing the 4,000-

Jollibee buys Burger King franchise in the Philippines

2011-10-01T08:15:00.000+08:00

Doris C. Dumlao Philippine Daily Inquirer 9:19 pm | Friday, September 30th, 2011 Local fastfood giant Jollibee Foods Corp. has cemented its leading position in the highly competitive quick-service restaurant industry by taking over the Philippine operations of American chain Burger King. The deal allows JFC to gain a foothold into the premium segment of the hamburger category in the

Are PSE investors shallow?

2011-09-27T18:30:00.000+08:00

Tuesday, 27 September 2011 02:03 John Mangun /Outside the Box Prices on the Philippine Stock Exchange (PSE) took another massive hit yesterday with the blue chip index down 164 points, or 4.24 percent. The All-Share Index fell 2.94 percent. Interestingly, we started this week as the worst-performing stock market (except for Thailand) in Asia yesterday. The same thing

‘Panic selling’ grips investors

2011-09-27T18:21:00.001+08:00

Tuesday, 27 September 2011 02:17 Miguel R. Camus / Reporter Philippine stocks slid anew on Monday as investors continued to liquidate positions in what some analyst are already calling “panic selling.” The Philippine benchmark Index lost another 4.24 percent, or 164.74 points, to 3,721.22, said to be the lowest close since September 2, 2010. The benchmark measure had

Puregold's global share offer 3 times oversubscribed

2011-09-24T17:35:00.001+08:00

By Zinnia B. Dela Peña (The Philippine Star) Updated September 24, 2011 12:00 AM MANILA, Philippines - The global share sale of supermarket chain Puregold Price Club has been three times oversubscribed, according to one of its international lead underwriters. Lauro Baja, UBS managing director for the Philippines, said the issue attracted orders from

Don’t Panic! Why Falling Stock Prices Are a Good Thing

2011-09-24T15:43:00.002+08:00

Portfolio StrategyBy J.D. Roth | @jdroth | September 23, 2011 | As tends to happen, yesterday’s dramatic stock market decline has put some investors on edge. The other day, I talked with my friend who is a financial planner, and he told me that after the market dropped by 15% in early August, he couldn’t keep certain clients from selling. They were scared to be caught in a downturn like

Recession panic grips world markets

2011-09-24T12:11:00.000+08:00

(The Philippine Star) Updated September 24, 2011 12:00 AM MANILA, Philippines - World markets buckled under a frenzied sell-off Thursday as investors panicked, believing the global economy was headed for another slump that policymakers may be ill-equipped to prevent. From New York to Tokyo, it was a brutal day for investors as countless billions of dollars were wiped off the value of

‘Be flexible to change directions when opportunity comes’

2011-09-23T19:18:00.000+08:00

By: Tina Arceo-Dumlao Philippine Daily Inquirer 1:58 am | Sunday, July 3rd, 2011 MAHENDRA Gursahani, CEO of Standard Chartered in the Philippines The road toward achieving life’s goals is not always straight. More often than not, it is marked by long detours, deep potholes, seemingly insurmountable roadblocks and discouraging dead ends. In the case of Mahendra Gursahani, chief

US Fed plan sends Asia stocks diving, dollar gains

2011-09-23T19:12:00.000+08:00

By: Danny McCord Agence France-Presse 11:34 pm | Thursday, September 22nd, 2011 HONG KONG—Asian markets plummeted on Thursday while forex dealers ran for safety after the US Fed’s latest multibillion-dollar move to shore up the American economy was met with worldwide disappointment. The dollar strengthened against regional currencies as investors sought its safe-haven status after the

Philippine stock prices slump in the face of global economic concerns

2011-09-23T19:05:00.001+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 1:56 pm | Friday, September 23rd, 2011 MANILA, Philippines – Most local stock prices dropped sharply on Friday, bringing the main index to its worst single-day slump in three years as concerns over global growth dragged global equities back to bear territory. The main-share Philippine Stock Exchange index slid by 210.14 points or

Executive tells PR men: ‘Honesty better than PR’

2011-09-23T12:51:00.002+08:00

Thursday, 22 September 2011 21:24 Dennis D. Estopace / Reporter IN PHOTO -- PR CONGRESS OPENS - Bob Grove, managing director of Edelman Southeast Asia, gives a presentation at the opening of the 18th National PR Congress on Thursday. --ROY DOMINGO HONESTY remains the best policy to gain customer trust and shore up share prices, according to the CEO of the company that

Does the ‘gloom’ make the ‘doom’?

2011-09-22T17:45:00.002+08:00

Wednesday, 21 September 2011 21:17 John Mangun / Outside the Box What would you do if you knew tomorrow was the last day of your life? That philosophical question has been asked for centuries. However, it may have become more relevant in the post-war and Cold War period when the vast majority of the citizens of the world were living under the cloud of

Ongpin: I was a technocrat, not crony

2011-09-22T17:12:00.000+08:00

by Judith Balea, abs-cbnNEWS.com Posted at 09/22/2011 3:49 PM | Updated as of 09/22/2011 3:56 PM MANILA, Philippines - After staying under the radar for a few years following his government stint during Martial Law, Roberto V. Ongpin returned to Philippine business with a vengeance. Slowly building his empire, Ongpin bet big on the country, snapping deals one after another. Over the last

Stock market falls below 4,100 mark over US stimulus doubts

2011-09-22T16:42:00.000+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 1:49 pm | Thursday, September 22nd, 2011 MANILA, Philippines – The Philippine Stock Exchange index fell below the crucial 4,100 mark, sinking into negative territory for 2011, as a $400-billion stimulus plan by the US Federal Reserve only affirmed bleak economic prospects on the US economy. The main-share PSEi lost 108.19 points or 2.6

ICTSI keen on ‘several’ overseas projects

2011-09-21T13:09:00.001+08:00

Tuesday, 20 September 2011 19:39 VG Cabuag / Reporter PORT operator International Container Terminal Services Inc. (ICTSI) said it has submitted “a lot of bids” to operate or manage several other port projects all over the world, including facilities in Africa, South Asia and Latin America. ICTSI executive vice president Edgardo Abesamis said the company, which is

Investors cautioned on PH stocks

2011-09-21T11:51:00.000+08:00

By Miguel R. Camus, BusinessMirror Posted at 09/21/2011 9:36 AM | Updated as of 09/21/2011 9:36 AM MANILA, Philippines - Philippine stocks are among the most “crowded” in the region on a net foreign-buying basis, a status it shares with close neighbor Indonesia, according to Credit Suisse Group AG. The Swiss bank cautioned investors in the Philippines in a research note on Tuesday,

Biz Buzz: Chinoys scammed again

2011-09-21T10:48:00.002+08:00

the staff Philippine Daily Inquirer 1:00 am | Wednesday, September 21st, 2011 It’s sounding almost like some kind of financial scam has to hit the affluent Binondo Chinese community every now and then. The latest edition of this recurring story unraveled only last week, according to our sources, when a Filipino-Chinese “forex trader” absconded with the investments of several

Having his cake and eating it too

2011-09-13T20:22:00.000+08:00

Published : Monday, September 12, 2011 00:00Written by : KIM BERNARDO-LOKIN SPECIAL CONTRIBUTOR Enrico Dee THERE is a popular saying that goes, “do the things that you love and you’ll never have to work a day in your life.” This adage rings true for Enrico “Ricky” Dee, who was born into a family of entrepreneurs whose family was into construction, a lumber and hardware

Son of owner not allowed to eat in exec lounge

2011-09-11T15:14:00.001+08:00

By: Theresa S. Samaniego Philippine Daily Inquirer 9:48 pm | Saturday, September 10th, 2011 RAUL Joseph Concepcion At a young, tender age of 7, Raul Joseph Concepcion, unlike most other kids, spent his extra waking hours working for the family business. Concepcion tells SundayBiz that he actually enjoyed those times when he was tasked to punch cards of different colors,

From Island Souvenirs to no frills hotels

2011-08-29T11:53:00.000+08:00

By: Irene R. Sino Cruz Inquirer Visayas 12:42 am | Sunday, August 28th, 2011 JAY Aldeguer, president and CEO Islands Stay Hotels. CDN PHOTO/TONEE DESPOJO CEBU CITY – Nineteen years ago, Jay Aldeguer set up a T-shirt business, Islands Souvenirs, with an initial capital of P200,000, and his venture has gone a long way since then. Today, Aldeguer has invested into another

Metrobank faces BSP sanction

2011-08-27T10:25:00.000+08:00

By: Michelle V. Remo Philippine Daily Inquirer 4:26 am | Friday, August 26th, 2011 The Bangko Sentral ng Pilipinas (BSP) is set to decide on sanctions to be imposed on Metropolitan Bank & Trust Co. after one of its branches allegedly engaged in unsafe and unsound practice that led to over P60 million in losses for one of its corporate clients. The Office of Special

Phone giant hikes stake in BPO firm

2011-08-27T10:21:00.000+08:00

Philippine Daily Inquirer 9:32 pm | Friday, August 26th, 2011 The technology unit of network giant Philippine Long Distance Telephone Co. (PLDT) has upped its stake in a business process outsourcing (BPO) firm that specializes in high value back office services. In a disclosure, PLDT said wholly-owned unit ePLDT Inc. had agreed to buy out its partner Quantium Solutions

Puregold sets IPO schedule; listing to be on Oct. 5

2011-08-27T09:27:00.000+08:00

Philippine Daily Inquirer 9:29 pm | Friday, August 26th, 2011 Supermarket chain Puregold Price Club Inc. will price and launch on Sept. 21 an initial public offering that it hopes could raise up to P12.4 billion for its expansion. The Philippine Stock Exchange approved the offering, only the second Philippine IPO this year, involving the sale of as much as 600 million

Supermarket operator eyes P12.4-B IPO

2011-08-21T09:39:00.000+08:00

August 21, 2011, 8:00am MANILA, Philippines — Supermarket chain Puregold Price Club Inc. could raise up to P12.42 billion in a delayed initial public offering, 14 percent higher than originally planned, its preliminary IPO prospectus showed. Puregold, which operates 72 stores across the country, plans to sell up to 600 million common shares at up to P18 each, with another 90 million shares

Boosting technopreneurship in the Philippines

2011-08-21T09:38:00.000+08:00

August 21, 2011, 8:00am MANILA, Philippines — The government is pushing technology-based entrepreneurship or technopreneurship as a measure to ease the unemployment problem as well as improve the lives of young Filipinos. Technopreneurship is a promising venture in the Philippines as several companies are reportedly being set up to make money out of technology, particularly in the field of

Biz Buzz: Major acquisition looms

2011-08-18T12:34:00.000+08:00

By: the staff Philippine Daily Inquirer 11:27 pm | Tuesday, August 16th, 2011 Power-based conglomerate San Miguel Corp. has executed the sale of P13 billion worth of shares in Manila Electric Co. equivalent to a 5.2 percent interest in the power distributor (out of SMC’s 27 percent) to food unit San Miguel Pure Foods Co. About 59 million shares were sold by the parent to the

SMC buys Exxon’s Malaysia units

2011-08-18T08:47:00.000+08:00

Esso acquisition estimated to cost $600M By: Doris C. Dumlao Philippine Daily Inquirer 11:39 pm | Wednesday, August 17th, 2011 OVERSEAS EXPANSION. San Miguel Corp., now an energy-based conglomerate, is expanding overseas outside of its traditional business, buying a controlling stake in at least three Malaysian subsidiaries of Exxon Mobil involved in oil refining and

Making a Splash felt around the world

2011-08-14T11:01:00.000+08:00

By: Tina Arceo-Dumlao Philippine Daily Inquirer 9:02 pm | Saturday, August 13th, 2011 ROLANDO and Rosalinda Hortaleza Splash Corp., the leading personal care product manufacturer in the Philippines, is running out of goals to accomplish in the Philippines. It is already the biggest in its sector and is making aggressive moves to grab market share in other markets, such as the

When student trainees take over the frontline

2011-08-14T10:05:00.000+08:00

By: Ma. Esther Salcedo-Posadas - Contributor Philippine Daily Inquirer 8:56 pm | Saturday, August 13th, 2011 THE WORLD recession has put bottom line pressure on many restaurants to cut costs, that includes hiring student trainees instead of full time employees. Photo by Ma. Esther Salcedo-Posadas, Contributor In case you’ve been dining out lately, you may have noticed

Family-owned business in Batangas turns 25, gives back to loyal customers

2011-08-12T06:56:00.000+08:00

INQUIRER.net 12:56 am | Friday, August 12th, 2011 Leading the festivities of the supermarket’s silver anniversary are sisters Carlene Go-Sy and Cheryl Anne Go, who both serve as vice presidents of Citimart to continue their parents’ legacy of service. MANILA, Philippines—In the thriving city of Batangas, a family-owned business has become the household name in

Vista Land names Villar son new CEO

2011-07-24T18:45:00.000+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 5:57 pm | Friday, July 22nd, 2011 MANILA, Philippines—Housing developer Vista Land and Lifescapes Inc. announced on Friday the appointment of Manuel Paolo Villar, the eldest son of company founder Sen. Manuel Villar, as its new president and chief executive officer. Vista Land disclosed to the Philippine Stock Exchange on Friday

Broad vision catapults lit major to exec position

2011-07-24T18:19:00.000+08:00

FIRST JOB By: Abigail L. Ho Philippine Daily Inquirer 11:08 pm | Saturday, July 23rd, 2011 JOHN with company executives visiting the construction site in Tanauan, Batangas where Nestlé Philippines’ newest factory will rise. Not all chief executives saw themselves at the helm of a company when they were but teenagers who were about to enter college. Nestlé Philippines Inc.

ICTSI gets P1.7B from share sale

2011-07-23T12:18:00.000+08:00

Philippine Daily Inquirer 8:58 pm | Friday, July 22nd, 2011 International Container Terminal Services Inc. (ICTSI) is selling treasury shares accumulated during the financial crisis in 2009 to raise fresh capital that can bankroll the group’s aggressive expansion locally and overseas. In a disclosure Friday, the listed company said it approved the sale of about 31.24

SEC registration soon available at LandBank

2011-07-15T17:59:00.000+08:00

07/15/2011 | 05:14 PM Entrepreneurs and investors seeking convenient ways to register their incorporation documents may soon do so at branches of the Land Bank of the Philippines (LandBank). Finance Secretary Cesar Purisima said the agreement the Securities and Exchange Commission (SEC) and LandBank signed Friday will help improve the investment climate in the country by cutting the time it

Philippine Stock Exchange to extend trading hours starting October

2011-07-14T20:50:00.000+08:00

By: Doris C. Dumlao Philippine Daily Inquirer 12:00 pm | Thursday, July 14th, 2011 MANILA, Philippines—The Philippine Stock Exchange has finalized plans to extend trading hours beginning October 2011, in a bid to attract more investor interest and prepare for cross-border trading with Southeast Asian neighbors. The PSE disclosed on Thursday that its board had approved extending

Xavier University puts up retail center

2011-07-06T17:11:00.000+08:00

Posted on June 29, 2011 09:22:16 PM CAGAYAN DE ORO -- Xavier University, a Jesuit-run institution in Mindanao, has partnered with Pryce Corp. to erect a shopping mall inside the campus that will feature students’ business experiments. The retail center, once completed by September, will feature 13 leasable stalls where students with the best business ideas will be

‘Be flexible to change directions when opportunity comes’

2011-07-03T14:41:00.000+08:00

Henry Sy tops Philippines' 40 richest: Forbes

2011-06-25T14:30:00.000+08:00

By David Dizon, abs-cbnNEWS.comPosted at 06/23/2011 9:02 AM | Updated as of 06/23/2011 1:44 PM MANILA, Philippines - Eighty-six-year-old mall magnate Henry Sy remains the richest man in the Philippines while port operator Enrique Razon Jr. joined the elite billionaires' list this year, according to the annual listing conducted by Forbes Magazine. The annual listing said the country's

Philex climbs most in 6 months on Atlas speculation

2011-06-25T10:50:00.000+08:00

by Coco Alcuaz, ANCPosted at 06/25/2011 1:11 AM | Updated as of 06/25/2011 1:11 AM MANILA, Philippines - Manuel Pangilinan's Philex Mining Corp. climbed the most in 9 months after the Philippine Star reported speculation that it would buy into Atlas Consolidated Mining and Development Corp. Philex, the nation's biggest miner by sales, rose more than 9 percent, the most since October,

CebuPac buys $3.8-B planes

2011-06-17T14:12:00.000+08:00

Thursday, 16 June 2011 21:10 Lenie Lectura / Reporter CEBU Air Inc. has placed firm orders for 37 new Airbus units with a total list price of about $3.8 billion, or roughly P165.4 billion, making it the largest single aircraft order ever made by a Philippine carrier. The low-cost carrier is going to use internal funds and tap loans from export-credit agencies to finance the

San Miguel, Ongpin group merge stakes in Meralco

2011-05-25T16:54:00.000+08:00

By Miguel R. Camus, Business MirrorPosted at 04/13/2011 12:50 AM | Updated as of 04/13/2011 2:17 PM MANILA, Philippines - San Miguel Corp. (SMC) has started to consolidate its minority interest in Manila Electric Co. (Meralco) with another stake held by the group of former trade minister Roberto Ongpin. At an investor’s briefing earlier this week, SMC said it now controls 33.2% of Meralco.

Villar group readies retail store network expansion

2011-05-23T13:19:00.000+08:00

Offers franchise to overseas Filipino workers By: Doris C. Dumlao Philippine Daily Inquirer 10:13 pm | Sunday, May 22nd, 2011 MANILA, Philippines—The Villar group plans an aggressive expansion into the retailing business by setting up a 150-branch network of convenience stores within the next two years, partly by franchising the brand to enterprising

Govt to revoke SCTEx deal

2011-05-23T12:30:00.000+08:00

Sunday, 22 May 2011 22:40 Lenie Lectura / Reporter HONG KONG—Over “money points,” the government has informed the Metro Pacific group that it was revoking its contract for a 25-year operations and management concession to operate the 94-kilometer Subic-Clark-Tarlac Expressway (SCTEx). Metro Pacific Investments Corp. (MPIC) chairman Manuel V. Pangilinan, revealing this, said

Traditional telco revenue sources declining

2011-05-11T12:43:00.000+08:00

PLDT net profit down 6% in Q1; Globe’s up 1% By Paolo Montecillo Philippine Daily Inquirer First Posted 22:25:00 05/10/2011 MANILA, Philippines—Industry leader Philippine Long Distance Telephone Co. expects 2011 profits to decline as earnings from its new businesses fail to offset the steady drop in its traditional revenue streams. Competition on all fronts—from fellow telecom players

Philippine port handler sees gold amid turmoil

2011-05-08T20:44:00.000+08:00

By Mynardo Macaraig, Agence France-PressePosted at 05/08/2011 6:10 PM | Updated as of 05/08/2011 6:10 PM MANILA, Philippines - Violent protests in the Middle East may have shaken the world economy but Philippine port operator ICTSI sees opportunity amid the turmoil. ICTSI, run by billionaire Enrique Razon, is one of only a few Philippine companies to have become a successful global

Netopia to bring in P300M yearly for gaming firm

2011-04-14T15:22:00.000+08:00

Date Published: April 12, 2011 THE NETOPIA chain of Internet cafes is expected to more than double the average revenues of listed gaming firm IP E-Game Ventures, Inc. — the new majority stakeholder — based on data disclosed to the local bourse yesterday. IP E-Game said its recent purchase of a 75% stake in Digital Paradise, Inc., the operator of

PDIC approves BDO-Export Bank deal

2011-04-13T19:39:00.000+08:00

abs-cbnNEWS.comPosted at 04/13/2011 4:33 PM | Updated as of 04/13/2011 4:33 PM MANILA, Philippines - Banco de Oro Unibank Inc. (BDO), the country's top lender, has secured the approval of the Philippine Deposit Insurance Corp. (PDIC) to acquire Export and Industry Bank's assets and liabilities. In separate disclosures to the stock exchange, the firms said PDIC gave the green light

ABS-CBN net profit surges 87%

2011-04-13T19:26:00.000+08:00

Record-high P3.2B due to political ads By Doris Dumlao Philippine Daily Inquirer First Posted 21:55:00 04/12/2011 MANILA, Philippines—ABS-CBN Broadcasting Corp. expanded its net profit last year by 87 percent to a record-high P3.2 billion as huge election-related advertising complemented its regular advertising stream and steady consumer sales. The target for 2011 is to at least match

Gov’t urged to probe PLDT-Digitel deal

2011-04-13T19:23:00.000+08:00

Globe says merger may impede competition By Paolo Montecillo Philippine Daily Inquirer First Posted 21:30:00 04/12/2011 MANILA, Philippines—Ayala-led Globe Telecom Inc. has called for a probe of the impending P74.1-billion takeover by Philippine Long Distance Telephone Co. of competitor Digital Telecommunications Philippines Inc. that could turn the competitive telecommunications industry

Cojuangco upheld on SMC

2011-04-13T14:42:00.001+08:00

SC: Disputed shares belong to Aquino uncleBy Vincent Cabreza Inquirer Northern Luzon First Posted 01:14:00 04/13/2011 BAGUIO CITY—Businessman Eduardo “Danding” Cojuangco Jr., an uncle of President Benigno Aquino III and crony of the late dictator Ferdinand Marcos, is the legitimate owner of a fifth of shares in San Miguel Corp., which government claims he acquired using the controversial

Tentay serves quality, safety in every bottle

2011-04-10T11:50:00.000+08:00

Philippine Daily Inquirer First Posted 20:13:00 04/09/2011 MANILA, Philippines—How can you tell if your patis has the safety and quality you’re looking for? Check the labels and the ingredients. Tentay Patis, which has been making patis (fish sauce) for more than 60 years, is confident it will make the grade. Tentay Patis was founded in 1949 by Ruperta Javier, or Aling Tentay, right in her

Home Depot CEO finds inspiration in the toilet

2011-04-10T10:44:00.001+08:00

By Jess David, Arizza Ann Nocum Philippine Daily Inquirer First Posted 20:14:00 04/09/2011 MANILA, Philippines—This isn’t about toilet humor. But it does involve a dirty toilet. “In my elementary school, the restrooms were, to say the least, ill-maintained and ill-equipped. Feces were splattered over the cracked tiles, and water barely spewed out of the broken faucets,” says Napoleon Co,

La Sallites’ extreme idea -on men’s shaving-wins

2011-04-04T07:04:00.000+08:00

University students bag top award in beauty competition It’s not just in UAAP that we get to see top universities compete. It also happens when the country’s brightest from Ateneo, La Salle and the University of the Philippines gather in a Brandstorm, where they try to outdo and out-think each other. Team Extreme from De La Salle University, composed of Pixie Eraña, Elise Veloso and Austin

PLDT-Digitel deal: What's in it for the Gokongweis?

2011-03-31T07:01:00.001+08:00

By Judith Balea, abs-cbnNEWS.com Posted at 03/31/2011 6:07 AM | Updated as of 03/31/2011 6:12 AMMANILA, Philippines - The deal between giant Philippine Long Distance Telephone Co. (PLDT) and Gokongwei-led Digital Telecommunications Inc. (Digitel), the operator of the Sun Cellular brand, is nothing the usual. Two of the country's largest and richest companies in a one of the most

Deal shakes up telco sector

2011-03-30T22:37:00.000+08:00

Posted on March 29, 2011 11:54:50 PMPHILIPPINE LONG DISTANCE Telephone Co. (PLDT) yesterday moved to increase its dominance of the local telecommunications industry, announcing that it would be taking control of a Gokongwei-led competitor. PLDT will acquire a 51.55% stake in Digital Communications Philippines, Inc. (

PLDT, Digitel in P69.2-B deal

2011-03-30T17:54:00.000+08:00

Tuesday, 29 March 2011 21:04 Lenie Lectura / ReporterRivals Philippine Long Distance Telephone Co. (PLDT) and Digitel Telecommunications Philippines Inc. (Digitel) have crossed path once again a decade after the Gokongwei group attempted to take over the phone giant. At a news conference on Tuesday, PLDT and Digitel announced that they have entered into a share-swap deal. PLDT

Duopoly returns

2011-03-30T08:30:00.000+08:00

By the Staff Philippine Daily Inquirer First Posted 21:12:00 03/29/2011IT TOOK only 10 days for First Pacific’s big boss Manuel V. Pangilinan to clinch the deal that will allow PLDT to take over a majority stake in Gokongwei-led Digitel—nearly a decade after the latter’s hostile takeover attempt at PLDT that MVP successfully fended off. It may have been a defensive

062909: New rules on independent directors out

2009-07-31T20:08:00.002+08:00

Monday, June 29, 2009 | MANILA, PHILIPPINES Corporate News COMPANIES MUST wait for two years before it can appoint a resigned director as an independent board member, and a year in the case of a person who had helped the board perform its duties, to ensure their "independence," the Securities and Exchange Commission (SEC) has ordered. In a memorandum circular last Wednesday, the SEC

060107: Editorial: Services-driven growth not enough

2009-07-31T20:08:00.001+08:00

A 6.9-percent GDP growth rate, the highest quarterly growth in the last 17 years in the country's history, is certainly good news. Never mind that our neighbors China, Vietnam and India have raised the bar to the 7-percent to 11-percent growth band in the last several years.

062609: Ex-Figaro CEO pushes ahead with new coffee chain

2009-07-31T20:07:00.004+08:00

Friday, June 26, 2009 | MANILA, PHILIPPINES Corporate News FIGARO COFFEE Co., Inc. is going through a crisis of identity with two opposing forces claiming to have a right to the Figaro trademarks, and both refusing to back down from the fight. Exacerbating the rift is the emergence of a new coffee chain, Le Café Figaro, occupying nine spaces that were once branches of the original

062009: Reduced red tape for entrepreneurs

2009-07-31T20:07:00.003+08:00

Saturday, June 20, 2009 | MANILA, PHILIPPINES Today’s Headlines Entrepreneurs can now pay for business name registration fees through their mobile phones under a new service offered by the Trade department to complement the online application process. The move is another in a line of reforms the department has enacted, which include the automatic renewal of expired business registrations

052909: House ratifies bill scrapping DST on stock transactions

2009-07-31T20:07:00.001+08:00

Friday, May 29, 2009 | MANILA, PHILIPPINES Banking & Finance THE HOUSE of Representatives ratified Tuesday night a bill scrapping the documentary stamp tax (DST) on stock market transactions, with the Senate promising to follow suit next week. House Bill (HB) 4900 seeks to exempt the sale, barter or exchange of shares of stock listed and traded through the stock exchange from DST,

050609: Entrepreneurs cash in on wellness phenomenon, find 'gold in grass'

2009-07-31T20:06:00.004+08:00

Vol. XXII, No. 194Wednesday, May 6, 2009 | MANILA, PHILIPPINES Corporate News CORPORATE FILE BY ALEXIS DOUGLAS B. ROMERO, Reporter Gold in Grass Corp. VARIOUS SECTORS have complained that the economic development being touted by the government has yet to reach the countryside — where people remain poor, unemployed, and uneducated. But while critics continue to hit the state for failing to

051009: SM opens 34th mall

2009-07-31T20:06:00.003+08:00

Doris Dumlao Philippine Daily Inquirer May 01, 2009 MANILA, Philippines -- Shopping mall giant SM Prime Holdings, Inc. opened Friday a mall in Naga City, the first SM mall in the Bicol region and also the first new mall to be opened this year by Henry Sy, the country's

122806: My father the social entrepreneur

2009-07-31T20:06:00.001+08:00

My father the social entrepreneurASK GONEGOSYO By Joey ConcepcionThe Philippine Star 12/28/2006 Today let me dedicate this column to my father, who is more popularly known as Joecon, as he celebrates his 75th birthday tomorrow, together with his twin brother, my uncle Raul Concepcion. I will have to pre-empt a column that I had prepared for the new year, which will just come out a week

061606: Foreign retirees and the Filipino farmer

2009-07-31T19:59:00.001+08:00

this story was taken from www.inq7money.netURL: http://money.inq7.net/topstories/view_topstories.php?yyyy=2006&mon=06&dd=16&file=11COMMENTARYPosted: 2:02 AM | Jun. 16, 2006Ernesto M. OrdoñezInquirer (Published on Page B7 of the June 16, 2006 issue of the Philippine Daily Inquirer) LAST May 30, retirement became a presidential flagship program, with Edgardo Aglipay heading the program as "

042409: Federation of Mindanao co-ops expanding lodging operations

2009-07-30T18:41:00.001+08:00

Vol. XXII, No. 186Friday, April 24, 2009 | MANILA, PHILIPPINES Corporate News Federation of Mindanao co-ops expanding lodging operations CAGAYAN DE ORO CITY — The Mindanao Alliance of Self-Help Societies-Southern Philippines Educational Cooperative Center (Mass-Specc) is expanding its lodging operation here and in the city of Davao. Sylvia Okinlay-Paraguya, Mass-Specc chief executive

121908: Faith-based, spirit-driven business

2009-07-30T18:40:00.006+08:00

Vol. XXII, No. 105Friday, December 19, 2008 | MANILA, PHILIPPINES Opinion Vector By Sonny Coloma Last week, we featured the launching of a new book,Business As An Integral Mission, by the Center for Community Transformation (CCT). The economic aspect of the business model of CCT includes programs in microfinance, commodities distribution, business development, and entrepreneurship training.

010809: Netopia fails to reverse losses

2009-07-30T18:40:00.005+08:00

Vol. XXII, No. 112Thursday, January 8, 2009 | MANILA, PHILIPPINES Corporate News Netopia fails to reverse losses Internet café chain Netopia failed to meet its targeted turnaround for 2008 as rising consumer prices in the first half resulted in weaker-than-expected revenues, a top official said. George H. Tan, president of Digital Paradise, Inc. which operates Netopia, told

011709: 3 pre-need firms close unilaterally

2009-07-30T18:40:00.004+08:00

Vol. XXII, No. 118-ASaturday, January 17, 2009 | MANILA, PHILIPPINES Banking & Finance 3 pre-need firms close unilaterally The Securities and Exchange Commission yesterday said three pren-eed firms have stopped operations without its approval, calling on all plan holders to immediately file claims. The corporate watchdog said on its Web site that Legacy Consolidated Plans, Inc.,

022009: Alterations Plus: Achieving the right fusion between the wearer and ready-made clothing

2009-07-30T18:40:00.003+08:00

Vol. XXII, No. 143Friday, February 20, 2009 | MANILA, PHILIPPINES Corporate News BY LOUELLA D. DESIDERIO, Reporter Corp File: THE RIGHT fit matters a lot as far as clothes are concerned. With ready-to-wear apparel manufactured to fit a variety of body types, it is impossible nowadays to find an outfit that one could perfectly fit into. One company saw this as an opportunity to provide a

042009: JFC plans to open 3,000 stores overseas

2009-07-30T18:40:00.001+08:00

By JAMES A. LOYOLA April 20, 2009, 6:11pm Jollibee Foods Corporation is aiming to open 3,000 stores overseas over the next 10 years, about 75 percent of the 4,000 stores it hopes to have operating by 2020. “We envision that by the year 2020, Jollibee will already have 4,000 stores, 75 percent of which are outside the Philippines,” said Jollibee vice president for international operations

052908: Can an Internet Cafe Make Money in the Philippines?

2009-07-30T18:38:00.002+08:00

Can an Internet Cafe Make Money in the Philippines? May 29th, 2008 | By Philly | Category: Phils BusinessA perennial favorite topic. I see frequent searches on this topic and I have written a number of previous articles on Internet Cafes (or "computer shops",a so many people call them). See here and here andhere for a few

071908: Netopia chain to close shops on weakening patronage

2009-07-30T18:38:00.001+08:00

July 19th, 2008 Netopia chain to close shops on weakening patronage Manila Times THE operator of the Netopia chain of Internet cafes will close more branches in the second half of this year on weak consumer spending due to soaring inflation. "We will close three more branches in Bicol in the remaining part of this year," George Tan, Digital Paradise Inc. (CDPI) president told The Manila

121703: The Business of Online Gaming

2009-07-30T18:37:00.000+08:00

THE BUSINESS OF ONLINE GAMING MANILA, December 17, 2003 (STAR) By Lisa Gokongwei- Cheng - Kevin Go, 13, hasn't been to the mall in ages. The honor student from Xavier School would rather spend his weekends at home in front of his PC playing Ragnarok, a computer game that is very popular with his classmates. Outside Jose Rizal

040308: Internet Cafe Must Haves

2009-07-30T18:36:00.001+08:00

Internet Cafe Must Haves April 3, 2008 · Filed Under General, Musings, Marketing When you walk into an internet cafe, what are the things you look for? Is it ambience? Do you ask how fast the computers and the connection are? These and many more can make or break a cafe. There are several factors to success, most notably would be good customer service. Let’s try to analyze what a cafe

020708: Netopia expects recovery after shutdown of losing branches

2009-07-30T18:33:00.003+08:00

Thursday, February 7, 2008 | MANILA, PHILIPPINES News Netopia expects recovery after shutdown of losing branches THE OWNER of the country's largest chain of Internet cafés is expecting a modest recovery this year after shutting down a number of unprofitable shops, and is looking at expanding to the provinces by selling franchises. George H. Tan, president of Digital Paradise, Inc. which

031805: Cashing in on online gaming

2009-07-30T18:33:00.001+08:00

Manila, Philippines | Friday-Saturday, March 18-19, 2005 Cashing in on online gaming By Kerlyn G. Bautista, Reporter A business once caught in a ugly price war has found a new lease in life, thanks to the latest online craze. Posing as a fresh source of revenue stream to the then dousing business of ubiquitous small-scale internet cafés -- numbering 14,000 at the close of 2004 -- is