Manila Informer

UAE Ambassador to Sri Lanka, Mahmoud Mohamed Al Mahmoud and Ambassador Zenaida Tacorda-Rabago of Republic of the Philippines to Bangladesh have discussed bilateral relations between the two countries and ways of boosting them in various fields, especially economic, trade and tourism fields. During the meeting, the Philippine Ambassador hailed the privileged treatment accorded to nationals [...]

Manila Electric Co. named corporate whiz Manuel V. Pangilinan as its new president and chief executive officer on Tuesday. Representing First Pacific Co. Ltd. of Hong Kong, which now owns at least 41.3 percent of Meralco, Pangilinan told reporters the group would be “always open,” when asked if the group would buy more shares in [...]

National carrier Philippine Airlines, which has bled more than P15 billion ($337.6 million) in the past two fiscal years, is spinning-off its three non-core units as a last resort to avoid bankruptcy. PAL will spin off the following units by end of May 2010: in-flight catering services airport services, including ground handling, cargo handling and [...]

The Philippines now has an up to date bankruptcy framework which aims for a faster and more orderly rehabilitation or liquidation of financially distressed companies and individuals. This took 10 years to achieve. Before the end of the 14th session of the congress they passed the “Financial Rehabilitation and Insolvency Act” on Tuesday. This is [...]

Lopez-related issues dragged down the Philippine market on Friday but they stopped short of erasing the gains the market made throughout the week.  The bellwether Philippine Stock Exchange index declined by 0.44 percent or 13.04 points to 2,931.47, while the all share index went down by 0.39 percent or 7.25 points to 1,839.46.  Trading on [...]

A group headed by the son of shopping mall tycoon Henry Sy, one of the Philippines’ richest men, said on Friday it has offered to buy the 13.4 percent stake of the Lopez business clan in Manila Electric Co. The group is allied with food-to-power conglomerate San Miguel Corp, which is in the middle of [...]

The Philippines, one of Asia’s most active sovereign debt issuers, sold $1 billion in 25-year global bonds, its third sale this year, attracting

MANILA, Oct 6 (Reuters) – Philippine power producer First Gen Corp said on Tuesday its board approved a plan for a stock rights offer of about 15 billion pesos ($323 million), with the company raising its authorised capital ahead of the issue. First …

MANILA, Oct 6 (Reuters) – The Philippine central bank does not expect recent typhoons to have a significant impact on food prices, its governor said on Tuesday after data showed annual inflation ticking up to 0.7 percent in September. ‘Looking ahead …

MANILA, Oct 6 (Reuters) – The Philippine central bank said on Tuesday the country remained on track to meet the 2009 and 2010 inflation targets with the inflationary impact of recent typhoons likely to be temporary. ‘Preliminary assessment of …

MANILA: Inflation in the Philippines rose to 0.7 per cent in September, from a two-decade low posted the previous month, the government’s statistics bureau said on Tuesday. The rise in inflation in September was mostly due to increases in prices of …

MANILA, Oct 6 (Reuters) – Philippine annual inflation stood at 0.7 percent in September, the first increase in consumer prices against the previous month since February, but analysts said they did not expect the central bank to raise rates soon …

MANILA, Oct 5 (Reuters) – Central banks from emerging markets have not reached a consensus on an exit strategy from easier monetary policy but agreed that any unwinding should be gradual, Philippine central bank governor Amando Tetangco said. Central …