Jan 062015
 
SMC readies P360B investment plan

San Miguel president Ramon S. Ang. INQUIRER FILE PHOTO / LEO M. SABANGAN II THE GLOBAL economic environment would make 2015 a challenging year for Philippine companies, which could also face headwinds from the specter of a property bubble on the local front, San Miguel Corp. president and chief operating officer Ramon Ang warned yesterday. Despite this, the country’s biggest conglomerate—with some P1.6 trillion worth of assets in its portfolio—plans to accelerate its investment plan over the next three years even as other business groups take their foot off the gas pedal while waiting for clearer signals ahead of next year’s presidential elections. “Over the next two or three years, our combined capital expenditures will reach about P360 billion across the entire group,” Ang said during an annual interview where he sets out San Miguel group’s strategy. He hinted at expansion plans in new lines of business, but declined to reveal them, saying that rivals and competitors were closely watching San Miguel’s moves. Ang said, however, that all existing business units would see additional investments to help them grow and widen their market footprint locally and overseas. “We will carry  on with our expansion plans in all sectors, from our oil refineries, gas stations, the petrochemical business, power generation, infrastructure, mining and our traditional businesses like food, beer, our hard liquor business, and our packaging business,” he said. On top of San Miguel’s list is an aggressive expansion program for Petron Malaysia, which will see the third-largest petroleum firm in Read More …

Jan 062015
 
Cara D for DKNY launched in London

“I love to layer every which way. There are 15 pieces to play with — no rules, no looks, just opportunities. For me, it starts with the crop top. It’s essential. You take it from there. A sweat suit/jumpsuit (put it on and you’re done).  My dream pantsuit, because you can boy it up, split it up or suit it up, when needed. There are tanks, tees, fun hoodies, track pants, a leather crop bomber to die for. And, of course, an amazing parka — an urban must,” says Cara Delevingne of her Cara D for DKNY collection. MANILA, Philippines – Cara Delevingne recently launched the Cara D for DKNY capsule collection in London. Cara made the rounds in London starting at Harrods, then Harvey Nichols, followed by Selfridges and ending at DKNY’s London flagship store on Old Bond Street. Cara tweeted clues under the hashtag #CaraD4DKNY and #CARAvan as to where she headed each step of the way. Cara’s first stop was Harrods, where she took a photo with the Harrods signature “green men.” Next stop was Harvey Nichols for a beat boxing and break dancing session followed by Selfridges, where Cara served eager customers and took selfies while DJ Paula Goldstein was spinning a set. The final stop was DKNY’s Old Bond Street Store where Cara was presented with a custom cake representing her favorite piece in the collection as well as a custom Cara D for DKNY champagne bottle by Moet Hennessy. Cara changed into various pieces Read More …

Jan 062015
 
PLDT, Rocket Internet form JV for mobile payment service

MANILA, Philippines – Dominant carrier Philippine Long Distance Telephone Co. (PLDT) and Berlin-based Rocket Internet AG has established a global joint venture for mobile-first payment services in emerging markets. PLDT informed the Philippine Stock Exchange (PSE) that the 50-50 joint venture transaction that combines key existing payment assets from both PLDT and Smart e-Money Inc. as well as Rocket Internet would be closed in the first quarter of the year. PLDT president and chief executive officer Napoleon Nazareno said the company would contribute the intellectual property, platforms and business operations of its market leading mobile-first payment platform Smart e-Money. “PLDT continues to build on its strategy to become a driving force in the digital economy, and with Rocket, we have a partner who understands the DNA of the global Internet market more than any other company. We look forward to continuing the long-term success story of Smart Money and optimizing the synergies between e-commerce and innovative mobile-first payment solutions,”  Nazareno said. Smart e-Money is a pioneer in mobile banking and mobile wallet services handling approximately 3.4 billion euro worth of transactions in 2013. It has over five million active customers and 300,000 trade accounts. For his part, Rocket Internet founder and chief executive officer Oliver Samwer said Rocket Internet would contribute its participations in Paymill Holding GmbH and Payleven Holding GmbH. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 These are two of the leading payment platforms for high growth, small-and-medium-sized e-commerce businesses across Europe. “This Joint Venture is Read More …

Jan 062015
 
Phl stocks buck regional downtrend

MANILA, Philippines – The local benchmark index stood its ground yesterday, extending its winning streak despite slumping markets abroad, analysts said. The Philippine Stock Exchange index (PSEi) improved 0.02 percent or 1.11 points to finish at 7,277.74, erasing losses made earlier in the trading day. The All Shares index likewise ended positively, climbing 0.07 percent or 3.02 points at 4,285.74. “A surge of buyers in the afternoon session allowed the index to close in the green for the second straight session,” said Justino Calaycay Jr., analyst at Accord Capital Equities Corp. Calaycay, however, said investors’ bullishness at the start of the year has been completely sapped following political uncertainty in Greece and problems in the crude market. “Whatever traces of optimism that lined Monday’s trades were rubbed out by after-trades and overnight developments,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Asian shares were down while all three indexes in Wall Street also ended in the negative territory led by the Dow which lost 1.86 percent or 331.34 points. Locally, counters were mixed at three apiece. Counters which finished on the green were led by the holding firms which gained 0.90 percent or 57.76 points while the services firms dropped 1.25 percent or 26.47 points. Value turnover picked up late in the session and more than tripled the morning’s total to P10.43 billion. “Philippine shares appears to have showed up its Asian neighbors and global peers once more. It climbed out of an early –52.2 points hole Read More …

Jan 062015
 
LOOK: Kim, Sarah featured in Disney calendar

“YOU guessed it right! I’m Mulan!” This was Cebuana actress Kim Chiu’s Instagram post after Disney Channel Asia released the official photos for the much-anticipated Disney Princesses 2015 calendar. Kim added that she’s “thankful beyond words” for the international project. Aside from Kim, Pop Princess Sarah Geronimo was tapped to play the role of Rapunzel. She also recorded her own version of “The Glow,” a Disney theme song that was released in 2011 to mark the addition of Rapunzel. Other personalities from Southeast Asia who participated in the calendar are Sandra Dewi (Cinderella), Marsha Milan (Elsa), Gam (Maleficent), Proud (Ariel), Wawa (Belle), Best (Jasmine), Golf (Merida), Daiyan Trisha (Snow White), Fah (Tiana), Tori (Pocahontas). (Sunnex) DISCLAIMER: Sun.Star website welcomes friendly debate, but comments posted on this site do not necessary reflect the views of the Sun.Star management and its affiliates. Sun.Star reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted. Forum rules: Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent and respectful. Do not shout or use CAPITAL LETTERS!

Jan 062015
 
Bilibid inmates’ kin sue De Lima for alleged rights violations

Relatives of the high-profile inmates removed from the New Bilibid Prison (NBP) following a surprise raid last month have filed a human rights violation case against Justice Secretary Leila de Lima. In a six-page letter addressed to Commission on Human Rights (CHR) chair Loretta Ann Rosales, the families of Noel Martinez, Willy Sy, Michael Ong and German Agojo questioned the inmates’ transfer from the NBP to the National Bureau of Investigation (NBI) compound in Manila. Martinez, Sy, Ong and Agojo were among the 19 inmates transferred to the NBI facility after a December 15 raid on the national penitentiary yielded illegal and prohibited items such illegal drugs, firearms, money, jewelry and gadgets. According to the families of the four inmates, De Lima ordered the transfer “without any declaration as to her basis and authority in their selection, and in a manner similar to a warrantless arrest.” They were represented by lawyers Ferdinand Topacio, Joselito Lomangaya and Edzon Cristian Lauang. In an attempt to justify the transfer, the lawyers said De Lima branded all the inmates as convicted drug lords even though Martinez was convicted for serious illegal detention. “The Secretary actually confuses, to her convenience and advantage, between inmates who have been allegedly surprised with luxurious items on one hand, and those from whom suspected drugs were allegedly seized, on the other. Yet, she generalizes all of these inmates are ‘convicted drug lords’ who ‘control about 20 to 50 percent of the illegal drug trade in the state penitentiary’,” they Read More …

Jan 062015
 
US Embassy: Drone found in Quezon unarmed, not used for surveillance

popular Free ‘Abadilla 5’ during Pope’s visit, Aquino urged Jihadist ‘eager for fame’ accidentally reveals Syria location on Twitter–report Pope Francis: Around PH without leaving Luneta altar Hanjin books $5B in sales in 5 years Turnoff from ‘Fun in PH’ reprised Grieving family haunted by AirAsia victim’s final birthday wish Chris Brown talent fee fully paid: ‘Don’t Wake Me Up’ AirAsia Flight QZ8501: Remains of stewardess Khairunisa in coffin 004 videos S. Korea hopes North is sincere with offer to improve relations How Portugal’s big waves are boosting the economy Devotees pin hopes on Black Nazarene Golden Globe menu unveiled Seoul says US sanctions on North over Sony attack ‘appropriate’ US EMBASSY. AP FILE PHOTO MANILA, Philippines—The United States Embassy in Manila clarified Tuesday that the unmanned aerial vehicle or drone owned by the US Navy and found in Quezon province on Sunday afternoon was unarmed and was not used for surveillance. “The unarmed aerial target that was found off the coast of Patnanungan Islet on January 4, is an expended BQM-74E Aerial Target that was launched during naval exercise Valiant Shield 2014 which took place September 15-23 in the waters off Guam. The aerial target does not carry weapons and is not used for surveillance,” the US Embassy said in a statement. It said the drone was used by surface ships and aircraft during exercises to help train sailors in a realistic environment that provides the best possible training. “During the exercise, all aerial operations were conducted in international Read More …

Jan 052015
 
2 more women join defamation lawsuit against Bill Cosby

In this Nov. 18, 2013 file photo, actor-comedian Bill Cosby poses for a portrait in New York. A lawyer for Judith Huth who is suing Cosby alleging the comedian sexually abused her when she was 15 years old says he has interviewed two witnesses who corroborate her story. Attorney Marc Strecker wrote in a sworn declaration filed Friday, Dec. 12, 2014, in Los Angeles Superior Court that he also has reviewed photographs of his client with Cosby at the Playboy Mansion when she was age 15. Victoria Will/Invision/AP, File BOSTON (AP) — Two women accusing Bill Cosby of sexual offenses decades ago have joined a defamation lawsuit, contending the comedian publicly branded them as liars through statements by his representatives. The amended complaint was filed Monday in U.S. District Court in Springfield, in western Massachusetts, where Cosby has a home in Shelburne Falls. Cosby is the only defendant in the lawsuit, originally filed last month by Tamara Green, who said he drugged and assaulted her in the 1970s. The two new plaintiffs are Therese Serignese, who said he drugged and raped her in 1976, and Linda Traitz, who alleges he tried to drug her and then sexually groped her in 1970. Attorney Joseph Cammarata, who represents the three women, said the civil action allows them to have their allegations heard since criminal statutes of limitation have expired. “The lawsuit provides an opportunity for women who claim to have been harmed to have their day in court in a forum where Read More …

Jan 052015
 
DOTC keen on privatizing Naia operations by 2016

MANILA, Philippines—The Department of Transportation and Communications wants to move forward with the privatization of operations and maintenance of the busy Ninoy Aquino International Airport before President Aquino steps down in 2016. Transportation secretary Joseph Abaya said the project could be up for approval by the National Economic and Development Authority Investment Coordination Committee within the first half of 2015. The move was in line with the broader thrust of the current administration to privatize the operations of certain services, like railways, ports and airports. It earlier auctioned a P17.5-billion contract to expand and operate the Mactan Cebu International Airport and the DOTC is in the process of bidding out six smaller provincial airports. Abaya had said the O&M contract of Naia, the country’s busiest airport, having handled over 32 million passengers last year, could be auctioned under a public-private partnership structure. It was not immediately clear if the Naia project would include planned expansion activities, including a fifth passenger terminal building that Abaya said the DOTC was currently studying. The planned Naia O&M contract also comes ahead of a new international gateway being studied by the government in Sangley Point, Cavite. That project, however, is not expected to be completed before 2025, if pursued, Abaya said. The new Sangley airport is estimated by the Japan International Cooperation Agency (Jica) to have a development cost of P435.9 billion. It is deemed crucial in meeting the capital region’s passenger demand, seen to more than triple to 101.4 million in 2040 from Read More …