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  • Philex increases loan to UK-based unit, extends repayment period

    November 22, 2013 6:49 AM 20

    By: Euan Paulo C. Añonuevo, November 22, 2013 2:11 PM MANILA - Philex Mining Corp, which only last month borrowed more money from its Hong Kong-based parent company, will in turn increase a loan earlier granted to a United Kingdom-listed unit. In a disclosure to the Philippine Stock Exchange, Philex said it is increasing a $15 million

  • EDC backs out of Unified Leyte supply management contract

    November 21, 2013 3:30 PM 34

    By: Euan Paulo C. Añonuevo, November 21, 2013 12:11 PM MANILA - Energy Development Corp (EDC) will no longer pursue its bid for government's contracted power generating capacity with the Unified Leyte geothermal power complex after the Leyte-based facility sustained significant damage from Typhoon 'Yolanda'. In a disclosure to the Philippine

  • Gov't bids out cleanup of oil spill triggered by 'Yolanda'

    November 21, 2013 11:31 AM 27

    By: Euan Paulo C. Añonuevo, November 21, 2013 4:15 PM MANILA - The Power Sector Assets and Liabilities Management Corporation (Psalm) has tapped the services of a third party to clean up the oil spill from a power barge that ran aground in Iloilo at the height of Typhoon 'Yolanda'. State-run Psalm yesterday awarded to Kuan Yu Global

  • PPP program receives fresh shot in the arm, as PNoy clears 7 projects

    November 21, 2013 10:58 AM 40

    By: Darwin G. Amojelar, November 21, 2013 5:48 PM MANILA - After a string of delays, the Aquino administration's Public-Private Partnership (PPP) Program received fresh impetus after the National Economic and Development Authority (NEDA) board, which the President chairs, today cleared seven big-ticket projects. - South–Coastal Road Terminal

  • FROM NCR, WITH LOVE | Metro Manila mayors finalize list of typhoon-hit towns they will adopt

    November 20, 2013 5:38 PM 31

    By: Clara Masinag, November 21, 2013 1:25 AM MANILA - Plans to have typhoon Yolanda-devastated towns in Eastern Visayas adopted by the National Capital Region were formalized Wednesday, with the Metropolitan Manila Development Authority (MMDA) announcing the final list of Metro Manila mayors and their counterpart LGUs under the agency’s

  • Yearend rally uncertain after PH stock market drops below 6,200-mark

    November 20, 2013 4:57 PM 34

    By: Krista Angela M. Montealegre, November 20, 2013 4:29 PM MANILA – Philippine share prices plunged on Wednesday to break a key technical support level, bringing the composite index to its lowest level since September. At the Philippine Stock Exchange, the benchmark index plummeted 112.51 points or 1.80 percent to close at 6,155.24, its lowest

  • Filinvest to build P40-B power plant

    November 20, 2013 4:57 PM 45

    VILLANUEVA, Misamis Oriental, Philippines – The Gotianun family’s Filinvest Group plans to spend around P40 billion for the construction of a 405-megawatt (MW) circulating fluidized bed coal-fired thermal power plant inside the PHIVIDEC Industrial Estate here. Filinvest Development Corp.(FDC) president and CEO L. Josephine Gotianun-Yap said they are now in talks

  • Ayala Land buys out partner in El Nido Resorts

    November 20, 2013 3:32 PM 34

    By: Krista Angela M. Montealegre, November 20, 2013 8:07 PM MANILA – Ayala Land Inc (ALI) will redevelop the world-class El Nido Resorts on its own after the real estate firm bought out its partner. In a disclosure to the Philippine Stock Exchange, ALI said wholly owned Ayalaland Hotels and Resorts Corp inked an agreement to acquire Asian

  • ‘Yolanda’ may cut growth to below 6%

    November 20, 2013 1:44 PM 52

    SUPERTYPHOON Yolanda (international code name Haiyan) is likely to reduce the country’s economic growth. In the latest edition of Market Call, the First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) Capital Market Research group, however, pointed out that the reconstruction efforts could offset the loss on output and income

  • US to hold 'mini-audit' of Philippine aviation safety standards next week

    November 20, 2013 9:19 AM 22

    By: Darwin G. Amojelar, November 20, 2013 3:42 PM MANILA - The Civil Aviation Authority of the Philippines (CAAP) expects an upgrade from the US Federal Aviation Authority (FAA) to Category 1 in the coming weeks. In a briefing today, CAAP deputy director-general John Andrews said FAA manager for international policy John Barbagallo will visit