THE DEPARTMENT of Environment and Natural Resources (DENR) has temporarily shut down four nickel mines in Santa Cruz, Zambales after finding their operators failing to comply with regulations.
Jul 242014
Jul 232014
BACOLOD CITY — The General Alliance of Workers Association (GAWA) has filed a petition seeking an P85 increase in the daily minimum wage.
Jul 232014
MORE COMPANIES in the extractive industry have submitted waivers to the government for participation in an international revenue transparency standard, allowing authorities to look at their tax payments and credits for reporting under the initiative.
Jul 232014
IN A MERGERS and acquisitions (M&A) transaction, a buyer may sometimes seem to overpay when it buys a target. However, when one looks at the details, there may be a solid case for acquiring the target at a premium. Often, only one unique buyer may be in a position to offer a significant premium to the target.
Jul 222014
LOCAL AND FOREIGN industry groups have called for tighter monitoring of tobacco trade — through commissioning of a third-party group — to address persistent tax evasion in that sector.
Jul 222014
CONTACT centers providing voice-based services remained a mainstay of the business process outsourcing (BPO) industry in 2012, comprising bulk and posting the fastest growth in the sector, according to a recent report of the Philippine Statistics Authority (PSA)-National Statistics Office.
Jul 222014
DAVAO CITY — More than a thousand local government leaders nationwide will gather here for an entrepreneurship development training dubbed 3rd Negosyo sa Barangay to be held at The Royal Mandaya Hotel starting today.
Jul 212014
THE P64.9-billion Light Rail Transit Line 1 (LRT-1) Cavite Extension public-prive partnership (PPP) project has moved closer to implementation, with the Transport department’s (DoTC) bids and awards committee (BAC) endorsing it for approval by the Metro Manila railway regulator before awarding to a consortium of Ayala Corp. and Metro Pacific Investments Corp. (MPIC), an official said in a text message yesterday.
Jul 212014
MUMBAI/BANGKOK — Thailand is set to reclaim its status as the world’s top rice exporter as weak monsoon rains curb India’s crop, helping the Southeast Asian country’s new military government off-load bulging stockpiles.
Jul 212014
MANILA, Philippines – Snacks and beverage giant Universal Robina Corp. (URC) of the Gokongwei family is taking over the leading biscuit and snack food company in New Zealand for NZ$700 million (roughly P26.4 billion), marking its largest acquisition to date. The acquisition jumpstarts URC’s goal of becoming a major regional player while continuing the trend of Philippine firms buying established companies abroad. In a regulatory filing, URC said its wholly owned offshore subsidiary URC International Co. Ltd. entered into an agreement to acquire 100 percent of NZ Snack Food Holdings Ltd. (NZFHL) from management and funds advised by Pacific Equity Partners. “The transaction is valued at NZ$700 million and is subject to approval by New Zealand’s Overseas Investment Office,” URC said. NZFHL is the holding company of Griffin’s Foods Ltd., New Zealand’s leading biscuit and snack food company with approximate net sales and earnings before interest, taxes, depreciation, and amortization of NZ$280 million and NZ$78 million, respectively. “In recent years URC has been looking for opportunities to explore potential acquisitions and partnerships in line with our vision to be a significant regional player in snack foods and beverages,” said URC president and CEO Lance Gokongwei. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 While URC has already built strong brands, the strategy is to continue offering existing consumers and markets in Southeast Asia and Greater China with innovative, convenient, lifestyle-focused and on-the-go products, Gokongwei added. “Griffin’s board believes URC’s significant experience in developing its own export markets makes it Read More …