DAVAO CITY — Palm oil has been identified as the next major industry in the Davao Region, more than a year after typhoon Pablo (international name: Bopha) tore through large areas of Davao Oriental coconut farms at the end of 2012.
Apr 082014
Apr 082014
MANILA, Philippines – Twenty four retail concepts and establishments bagged the prestigious citations given by the Philippine Retailers Association (PRA) and the Department of Trade & Industry in their respective categories at the recently concluded 17th Outstanding Filipino Retailers and Shopping Centers of the Year ((OFR-SCY) Awards at the Grand Ballroom of Crowne Plaza Hotel. The 17th Outstanding Filipino Retailers and Shopping Centers of the Year ((OFR-SCY) awardees include: Most Promising Retailer – Vikings (food) and Bambu (non-food); Regional Retailer Category – Apag Marangle Co.; Specialty Retailer – Runnr (small category) and Picture City (medium category); Home Improvement Center – Handyman; Fashion Category (shoes, bags, apparel) fashion apparel – Mint (small), Folded and Hung (medium), Bench (large); Fashion (shoes and bag) – DC Shoes (medium), Celine (large). Other winners are; Food Retailer – Jollibee (large); Services – Bench Fix Salon (medium); Category Killer – R.O.X.; Supermarket – Rustans supermarket; full Line Dept. Store – The SM Store; Foreign Brand Retailer – Dorothy Perkins (fashion apparel – medium), Fashion 21 (large); Charles and Keith (fashion, shoes and bags – medium), Ace hardware (category killer), Starbucks (food retailer- large). For the Shopping Centers of the Year, Shangri-la Plaza Mall (large), Robinsons Magnolia (medium) and SM Center Muntinlupa (small) got the most prestigious and coveted awards. Serving as the highlight of this year’s annual rites was the awarding of the PRA President’s Award to SM Group’s Teresita Sy- Coson. She was recognized as the “Philippine Retailing’s Woman Visionary Leader.” PRA President Lorenzo “Enchong” C. Formoso said Read More …
Apr 082014
MANILA, Philippines – Investment pledges approved by the Board of Investments (BOI) declined 52 percent in the first quarter from a year ago. In a statement, the BOI said it approved P46.77 billion worth of investments as of end-March, down from the P97.19 billion approved in the comparable period last year. BOI managing head Adrian Cristobal Jr. said last year’s figure was higher due to the big ticket power project of Redondo Peninsula Energy Inc. amounting to P62.86 billion approved in 2013. Cristobal said that domestic firms dominated the total investment commitments for the first quarter at 90 percent or P42.08 billion. The balance of 10 percent or P4.69 billion came from foreign sources. Topping the list of foreign country sources of investments is the United Kingdom with a 31-percent share amounting to P1.46 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Japan came in second with P874.78 million worth of investments (19-percent share), followed by the Netherlands which contributed P492.50 million (10-percent share). Thailand and Taiwan got the fourth and fifth spots, pouring in investments worth P237.28 million (five-percent share) and P16.08 million (0.34 percent share), respectively. The biggest projects approved for the quarter are those made by the following companies: Citicore Megawide Consortium, Inc (P8.5 billion), SM Development Corp. (P5.9 billion), Prime Meridian Powergen Corp. (P5.57 billion), Cebu Air Inc. (P3.9 billion) Agusan Power Corp. (P3.66 billion), and Bright Future Educational Facilities Inc. (P2.5 billion). By sector, real estate activities, specifically, the mass housing sub-sector recorded Read More …
Apr 082014
MANILA, Philippines – Century Pacific Food Inc., the country’s largest canned goods producer, will become the second company to list in the local bourse through an initial public offering (IPO). In a memorandum, the Philippine Stock Exchange (PSE) said its board of directors approved the P3.33-billion IPO of Century Pacific. “We’re very optimistic about Century Pacific. It’s another play on the consumer growth and the growing income of Filipinos,” said Eduardo V. Francisco, president of BDO Capital & Investment Corp. “The consumer market in the Philippines will continue to grow because of the rising gross domestic product,” Francisco said, adding that increased spending capacity allows consumers to shift to more expensive products like corned beef from cheaper sardines. Century Pacific will list 2.22 billion common shares, of which 229.654 million shares will be offered to the public at a maximum price of P14.50 each that will raise as much as P3.329 billion. The bulk of the IPO proceeds will be used to pay existing debts, with the remaining funds allotted for capital expenditures, potential opportunistic acquisitions and general working capital. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Francisco said retiring debts will immediately improve the profitability of Century Pacific. The company is being advised by Evercore Asia Ltd. while the offer will be underwritten jointly by BDO Capital, BPI Capital and First Metro Investment Corp. The final IPO price will be set on Apr. 21. Offer period will run from Apr. 23 to Apr. 29, while the listing Read More …
Apr 082014
JC De Vera lands the cover of Men’s Health Philippines April 2014.
Apr 082014
Lovi Poe shows off her flat tummy in a trendy cropped top.
Apr 082014
The United States on Tuesday asked North Korea to look at Iran’s example, saying it was willing to negotiate with a hostile nation when it is “serious” about its promises.
Apr 082014
By Matikas SantosINQUIRER.net 3:56 pm | Tuesday, April 8th, 2014 A China Coast Guard vessel attempts to block a Philippine government vessel as the latter tries to enter the China Second Thomas Disputed Shoals, locally known as Ayungin Shoal, to orate Philippine troops and resupply provisions Saturday, March 29, 2014. AP FILE PHOTO MANILA, Philippines – The new Chinese Ambassador to the Manila urged the Philippines to set aside its United Nations (UN) arbitration case over the West Philippine Sea (South China Sea) dispute in order to bring back the good relations of both countries. “The current difficulties in the bilateral relations, caused by some problems including the arbitration case on the South China Sea issue, are not what the Chinese side wishes to see, and are not in the common interests of both China and the Philippines,” Chinese Ambassador Zhao Jianhua said in a statement after he presented his credentials to President Benigno Aquino III Tuesday. “It is China’s hope that the Philippine side could, in the spirit of seeking common grounds while shelving differences, work with the Chinese side to properly handle relevant disputes, and to overcome obstacles and bring the bilateral ties back to the normal track of development,” he said. The Philippines on March 30 submitted its memorial to the UN arbitration court seeking to invalidate China’s nine-dash line claim that covers nearly the entire South China Sea including portions of the Philippine 200 nautical mile exclusive economic zone. China has expelled Filipino fishermen from Bajo de Read More …
Apr 082014
By Matikas SantosINQUIRER.net 2:31 pm | Tuesday, April 8th, 2014 US Embassy in Manila, Philippines. AP FILE PHOTO MANILA, Philippines – The United States (US) Embassy in the Philippines will be closed on Wednesday in observance of Araw ng Kagitingan (Day of Valor). “The US Embassy in Manila and its affiliated offices will be closed to the public on Wednesday, April 9, 2014, in observance of Araw ng Kagitingan, or Day of Valor, a Philippine holiday,” the Embassy said in a statement Tuesday. “The US joins the Philippines in honoring the sacrifices and heroism of Filipino and American soldiers who fought in World War II, particularly those who fought in Bataan, in defense of freedom and democracy,” it said. The Embassy and its affiliated offices will resume services on Thursday, April 10. RELATED STORIES: Free MRT, LRT rides for veterans this week US Embassy closed January 20 for Martin Luther King Jr. Day Follow Us Other Stories: Law expert: China’s actions may spur US-PH defense treaty Filipinos, other Asians top success index in US PH gov’t has other options to address sea dispute with China—Palace Obama, Aquino to tackle defense, China during state visit Recent Stories: Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines. Tags: Araw ng Kagitingan , Day of Valor , United States , US Read More …
Apr 082014
By Julliane Love de JesusINQUIRER.net 2:09 pm | Tuesday, April 8th, 2014 MANILA, Philippines–A 73-year-old British man has been arrested by the police for allegedly touching the private parts of three minors in Cebu province. Stanley James Lamb, who goes by the alias “Dan,” was arrested by the members of Carcar City police station in Camagayan house at Barangay (village) Perrelos on Monday. Chief Superintendent Danilo Constantino, Central Visayas police regional director, said Lamb was charged with acts of lasciviousness he committed against three unnamed minors. Constantino said the British national invited the three minors in his house, where he took advantage of the victims and touched their private parts. Lamb is currently under the custody of Carcar City police station pending the filing of charges against him. Last Saturday, a 46-year-old Italian diplomat was arrested in a Laguna resort after he was accused of trafficking and committing child abuse against three underage boys. According to witnesses, Italian ambassador to Turkmenistan Daniele Bosio was seen “touching and caressing” the children in the swimming pool. Bosio is detained at Biñan police station while the boys, whom he claimed were street children from Manila, are under the custody of the Department of Social Welfare and Development. RELATED STORY Italian envoy nabbed for child abuse Follow Us Other Stories: Italian envoy nabbed for child abuse American nabbed for allegedly threatening doctor in fender bender case Binay seeks probe into release of foreigner accused of molesting minor Magellan to reconnect PH and Portugal after Read More …