Maniolas

NEW YORK– Companies around the world spent a record $5.04 trillion on acquisitions in 2015, according to Dealogic, as slow worldwide economic growth and low interest rates pushed companies to combine forces. Dealogic, a financial data provider, says the value of global deals soared 37 percent in 2015. The highest price tag came in November, when Pfizer and Allergan announced the biggest pharmaceutical deal in history. Low interest rates since the Great Recession have made it cheaper for companies to borrow money to pay for acquisitions, and because the global economy only grew slowly this year, companies decided it made more sense to buy their competitors instead of trying to boost their sales on their own. Here are the 10 largest acquisitions announced during the year: Pfizer and Allergan Pfizer, the maker of cholesterol fighter Lipitor, impotence treatment Viagra and fibromyalgia drug Lyrica, agreed to buy Allergan in November. The $148.57 billion deal would be the second-largest corporate merger ever. It would give Pfizer control of Botox and move the company’s headquarters to Ireland, cutting its taxes. Pfizer would also become the world’s largest drugmaker in terms of sales. AB InBev and SABMiller The biggest beer maker in the world wants to get even larger. The company behind Budweiser, Corona and Stella Artois agreed to buy the maker of Miller Genuine Draft and Peroni for $105.56 billion in October. The move would expand AB InBev’s business in Africa, Asia and other key developing markets. As part of the deal, SABMiller Read More …

MANILA, Philippines – The National Power Corp. (Napocor) is auctioning off a contract for the regular maintenance of the Agus 6 hydroelectric power plant (HEPP) in Iligan City, one of the critical power sources in Mindanao. In a bid bulletin, the agency is inviting interested bidders for the P4.79-million contract for dam embankment clearing and strengthening at Agus 6 HEPP spillway area. A pre-bid conference is set on Jan. 11 while deadline for bid submissions in on Jan. 28. The undertaking is necessary for the continued supply of the power plant to the Mindanao grid, especially as El Nino is projected to extend its adverse impact until the first half of this year. The operations of the Agus HEPP have a critical impact on the power supply demand in the Mindanao grid. In 2014, the Agus 6 HEPP only generated 80 megawatts from its dependable capacity of 171 MW due to repairs to plug a leakage in the its blow-off pipe. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Silt and clay deposit caused the leakage in the dam’s blow-off pipe. In separate bid bulletin, Napocor is also bidding out a total P45.72 million worth of contracts to provide security services for several government-owned facilities in the Visayas. Napocor said it is looking for interested firms for the procurement of security services facilities for the Small Power Utilities Group (SPUG)-Western Visayas Operations Area, SPUG-Eastern Visayas Operations Area and SPUG-Palawan Area. Each contract involves providing manpower security for the plants Read More …

MANILA, Philippines – Ascott Limited’s Citadines Salcedo Makati, a premier serviced residence, was recently awarded the Green Mark Award by the Building and Construction Authority of Singapore (BCA). The property had undergone BCA’s stringent comprehensive framework of assessment, which is focused on the building’s sustainable design, construction, and operational practices aimed at reducing the adverse impacts of the building on the environment and occupant health over the entire building life cycle. Citadines Salcedo Makati is the first serviced residence in the Philippines to be BCA Green Mark-certified. The BCA Green Mark evaluates buildings to primarily shape a more environmentally friendly and sustainable built environment. The buildings are assessed based on energy and water efficiency, environmental protection, indoor environmental quality, and green and innovative features that contributed to enhanced building performance. Ascott Limited has been a strong advocate of green living, adopting a global campaign “Go Green @Ascott.” With the vision of being the leading green-serviced residence company, Ascott is constantly on the lookout for breakthroughs in green technology and practices, and more green products available. Citadines Salcedo Makati has incorporated energy-and water-saving features throughout the property help reduce carbon footprint. The building was built to conform to global environmental specifications by using energy-efficient lighting, which makes use of LED lights that burn less energy, practically maintenance free and lasts longer than traditional incandescent light. Apartment toilets feature water-saving fittings such as dual flush toilet cisterns to cut down on water consumption. Citadines Salcedo Makati is also designed to make good Read More …

Filipino workers arrange metal rods at a government road project in suburban Quezon City. The government said it is joining the Asian Infrastructure Investment Bank, aimed at boosting infrastructure development and connectivity. AP/Aaron Favila MANILA, Philippines – The Philippines will officially join the China-led Asian Infrastructure Investment Bank (AIIB), becoming its last member before the end of the year, the government announced on Wednesday. “The Republic of the Philippines will be signing the Articles of Agreement (AOA) of the Asia Infrastructure Investment Bank before year-end, joining the newly created multilateral institution aimed at boosting infrastructure development and connectivity,” the Department of Finance (DOF) said in a statement. According to the DOF, Finance Secretary Cesar Purisima was given authority by President Aquino to sign the AIIB Articles of Agreement. If unable to do so, Erlina Basilio, Philippine ambassador to China will sign the pact on behalf of the Philippines. The authority was just given on Wednesday, two days before the deadline for prospective founding members (PFMs) to sign with AIIB. The country will be the last of the 57 PFMs which have signified intention to join the AIIB early this year. The AIIB pact came into force on Christmas Day with the ratification of the agreement by 17 countries. The AIIB will have a paid-in capital of $20 billion and total authorized capital of $100 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Days before the deadline, there was little sign the Philippines will join the Beijing-based multilateral lender Read More …

THE GOVERNMENT booked another double-digit rise in taxes collected from so-called “sin” products in November, according to data from the Bureau of Internal Revenue (BIR).