AGRICULTURAL export revenues soared 25.41% while the value of imports declined 4.49% in 2013, the Bureau of Agricultural Statistics (BAS) reported on Monday.
Apr 152014
Apr 152014
HAMBURG — A group of animal feed makers in the Philippines has purchased about 120,000 metric tons of soymeal in a tender for the same volume which closed last week but made no purchase in a tender for 134,500 MT of feed wheat, European traders said on Tuesday.
Apr 152014
DAVAO CITY — Cacao farmers in this city are cashing in on fermented dried cacao beans, whose price is about one-third more than that of beans dried traditionally.
Apr 142014
MANILA, Philippines – Commodities giant Glencore Xstrata Plc has finally sold its interest in Las Bambas mine in Peru, clearing the way for the company to determine the direction of its other copper assets such as the troubled Tampakan copper-gold project in Mindanao. Glencore has sold its entire interest in the Peruvian copper mine for $5.85 billion to a Chinese consortium composed of MMG Limited, Guoxin International Investment Corp. Limited and Citic Metal Co., Ltd. Glencore sold Las Bambas to secure the approval of Chinese anti-trust authorities for its merger with Anglo-Swiss miner Xstrata as copper-hungry China feared the merged entity would have considerable control over the world copper supply. The sale, which is expected to close in the third quarter of 2014, is still subject to the approval of state regulators as well as the shareholders of MMG Limited. Prior to the sale, Glencore has expressed interest in divesting its majority interest in the $5.9 billion Tampakan project consistent with its preference not to develop greenfield projects. The Tampakan project was initially included in the list of other copper assets projects that may be disposed of in the event that the Las Bambas mine is not sold. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Glencore’s minority partner in the project, Indophil Resourses NL, has expressed interest in acquiring full ownership of Sagittarius Mines Inc. (SMI), the operator of the prospective mine. Glencore holds a 62.5 percent interest in the the project operator Sagittarius Mines Inc. (SMI) while Read More …
Apr 142014
MANILA, Philippines – Dominant carrier Philippine Long Distance Telephone Co. (PLDT) is confident of sustaining the momentum of its wireless broadband service that booked strong growth last year. PLDT HOME Fixed Wireless Solutions head Ava Española said the revenues of Home Bro reached P4.5 billion since 2012. “This 2014, we continue this thrust as we launch our new bundles to respond to the needs of families for laptops and printers in their homes so that kids no longer go out to accomplish their school assignments,” Española said. Launched last January 2014, one of HOME Bro’s new bundle offers is Plan 1799 which gives subscribers unlimited Internet at 2 megabites per second, an HP Laptop, and an HP printer for just P60 per day. At the same time, Plan 1069 which comes with unlimited internet at 2 Mbps and an HP printer, was also launched. “With the continuous growth in revenues and subscribers of HOME Bro, we are offering more innovative plans and bundles for all our customers,” Española stressed. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 HOME Bro is a service that provides subscribers with high-speed broadband for the home. It uses PLDT’s nationwide network to wirelessly deliver internet service to Filipino families. It made several process enhancements last year to ensure applications could be processed and activated within 24 hours. Together with these improvements, she added that the brand also introduced low-cost plans for first time internet users with basic internet needs with a full marketing campaign Read More …
Apr 142014
ILOILO , Philippines – The Villar Group plans to expand its Starmalls from five to 22 in the next few years, former senator Manuel Villar Jr. told The STAR yesterday. Villar said he is focusing on handling the family business with the end of his term as senator. “As we continue to expand Camella Homes all over the country, we are also building more Starmalls nationwide,” said Villar, who went to Iloilo last weekend to lead the Light of Peace that aimed to get the Guinness World Record for having lighted the most number of candles for world peace. As a matter of procedure, Starmalls Inc – being a publicly listed company – has notified the Philippine Stocks Exchange (PSE) about the plans. Starmall continues to expand its mall chain, with four more new shopping centers slated for opening in the next few months. These branches are those in Taguig City, Imus and Molino in Cavite and Sta. Rosa in Laguna. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 There will also be re-development projects at existing Starmalls in EDSA-Shaw, Alabang in Muntinlupa, Las Piñas and San Jose del Monte in Bulacan. The Starmalls project is different from Vistamalls known as Evia which is home to a range of newly built residential estates and growing commercial hubs. Evia caters to the high-end, European inspired Portofino by Brittany, to mid-range Ponticelli by Crown Asia, and affordable Camella Cerritos, the opportunity of home ownership in a master-planned urban setting is open Read More …
Apr 142014
MANILA, Philippines – Newly-listed DoubleDragon Properties Corp. of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods owner Tony Tan Caktiong is targeting to hit the P5-billion income mark in six years. The strong profit growth will be driven by the CityMall community malls, its top executive said yesterday. “With all the DoubleDragon projects in the pipeline executed, DoubleDragon aims to reach P1 billion net income level by 2016,” Sia said in an e-mail. He added that the company’s earnings will reach P4.8 billion by 2020. In 2013, DoubleDragon’s net income jumped 32 percent to P126.63 million from P92.48 million, almost entirely coming from residential sales. DoubleDragon aims to reach one million square meters (sqm) of total leasable space portfolio by 2020, of which 700,000 sqm is expected to come from the planned 100 CityMall community malls, mostly in the Visayas and Mindanao. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In a disclosure yesterday, the property company said it has firmed up the initial foray of its community malls unit into Mindanao. DoubleDragon said its subsidiary CityMall Commercial Centes Inc. (CMCCI) signed an investment and shareholders agreement with Galleria Zamboanga Inc. (GZI). The deal facilitates “the construction of two CityMall community malls in different prime locations in Zamboanga City” in the second quarter, DoubleDragon said. Under the agreement, CMCCI and GZI will form joint venture company Prime DDG Commercial Centers Inc. to serve as the corporate vehicle for the ownership of the CityMalls in Zamboanga City. GZI Read More …
Apr 142014
MANILA, Philippines – Low cost carrier AirAsia Zest, jointly owned by Philippines AirAsia and Zest Airways, has tied up with Robinsons Inc. AirAsia Zest commercial chief Gerard Peñaflor said the partnership would help the airline expand its cash payment system but tapping the 40 branches of Robinsons Department Stores all over the country. Peñaflor said the airline’s cash payment partner service provides the convenience of paying cash at any Robinsons Department Store for airline seats and other online purchases at www.airasia.com. “We are expanding our cash payment partner service to include Robinsons Department Store to provide optimum convenience for our guests and allow them access to our low fares and other exclusive online bargain deals without using their credit or debit cards,” he said. Cash payment partner service covers all AirAsia Zest flights to and from Manila to domestic and international destinations in Malaysia, China and Korea. Robinsons Department Store general manager Johnson Go said the partnership would benefit close to 120 million yearly shoppers of Robinsons who may opt to pay their airline tickets in the branches. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “AirAsia Zest supports our vision of providing Filipinos with affordable and world-class products and services, which makes them a great partner for us and will benefit our over 120 million annual store visitors. Both brands excel in offering the best value and utmost convenience for customers,” Go added. AirAsia Zest cash payment service involves three easy steps. First, passenger books a flight through Read More …
Apr 142014
MANILA, Philippines – BPI Family Savings Bank, the consumer lending arm of Ayala-led Bank of the Philippine Islands, has maintained its leadership position in the thrift bank industry in 2013, with total loans amounting to P147 billion. In its annual report, BPI Family said the loans level last year was 16 percent higher than a year ago. Its home loan portfolio grew19 percent, while homeland releases expanded 17 percent. In the first half of this year, strategic partnership with real estate organizations were forged, which made possible, among other things, linking to each other’s website to help complete the process of home acquisition. Potential homebuyers can, through a partner real estate firm’s website, use a home mortgage calculator powered by the bank. Last year, BPI Family Auto Loan’s Online Auto Financing System embedded in the websites of partner car manufacturers and dealers served to more conveniently assist potential car buyers choose the best and most suitable car financing package. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The system now offers a complete car-buying process, with its First-Car Plan offering special deals and discounted rates on starter models from partner-car makers. BPI Family’s loans for business format franchising also registered growth in 2013. Partnerships in the Ka-Negosyo Program have resulted in an eight percent increase in small and medium enterprise (SME) loan volume. In line with its Ka-Negosyo Franchising Program, the bank introduced the Ka-Negosyo Franchise Finder, an interactive directory of franchise businesses that visitors could search for updated Read More …
Apr 132014
THE FINAL feasibility study for a mass transport system that will connect four business districts in Metro Manila is expected to be released in October, the head of state-run Bases Conversion and Development Authority (BCDA) said over the weekend.