Financial and business news and articles
Arroyo bares new round of Cabinet shuffle before polls
President Gloria Macapagal-Arroyo on Monday announced a new Cabinet reshuffle affecting two departments, two months before the May 10 elections.
Education Secretary Jesli Lapus will be heading the Department of Trade and Industry (DTI), while Trade Secretary Peter Favila will become a member of the central bank’s Monetary Board (MB), Mrs. Arroyo said in her speech [...]
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- GMA vows peaceful transition of power
MANILA, Philippines – President Arroyo yesterday vowed to ensure a peaceful turnover of power to the next chief executive on June 30, assuring critics that she would not stay a day longer in office. In a speech to the military, Mrs. Arroyo said she would respect the nation’s democratic process, which requires her to make way [...]... - Villar statistically tied with Noynoy in new SWS survey
Senators Benigno Simeon "Noynoy" Aquino III and Manuel Villar Jr. continued to engage in a neck and neck race for the country’s top post, and were statistically tied two months before the May 10 elections, the latest Social Weather Stations (SWS) survey showed. The SWS poll, commissioned by BusinessWorld, showed that while Aquino remained the top [...]... - Partial failure of elections can make Speaker Arroyo acting president
Whistleblower Rodolfo “Jun” Lozada on Tuesday reiterated warnings of a partial failure of elections that could allow President Arroyo to extend her term in Malaca ñang. This can happen in a scenario where the local elections are successful, but the poll machines fail to transmit the results for the national seats, Lozada told Newsbreak on the [...]... - House panel asks Arroyo to declare power crisis in South
The House energy committee on Monday approved a proposal asking President Gloria Macapagal-Arroyo to declare a power crisis in Mindanao. The motion proposed by Cagayan de Oro Rep. Rufus Rodriguez was unanimously approved, “recommend[ing] that the President act under Section 71 of the Epira [Electric Power Industry Reform Act] law and that she determine and declare [...]... - State of calamity declared in Mindanao amid power crisis
President Gloria Macapagal-Arroyo has approved a recommendation declaring a state of calamity in Mindanao, allowing government to use disaster funds to address the power crisis besetting the Philippines’ second-largest island. This was disclosed on Thursday by Mindanao Development Authority chairman Jesus Dureza, who, until last year, was the Arroyo government’s press secretary. Dureza ma... - Bong, Jinggoy, Miriam top Senate race: survey
MANILA, Philippines – If the May 10 senatorial elections were held today, re-electionist senators Ramon "Bong" Revilla Jr., Jose "Jinggoy" Estrada and Miriam Defensor-Santiago would top the race, results of the latest Pulse Asia survey revealed Wednesday. The survey, conducted last February 21-25, showed Revilla getting 53.6% of votes, which translates to a statistical rankin... - PLDT completes another phase of fiber optic expansion
Philippine Long Distance Telephone Co. (PLDT) has completed another phase of its digital fiber optic network expansion by activating a 320-gigabit per second (Gbps) line across six network loops nationwide. The line will serve rising demand for bandwidth as more customers increase their usage of broadband Internet and multimedia service, the company told the Philippine Stock [...]...
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State of calamity declared in Mindanao amid power crisis
about 6 months ago - No comments
President Gloria Macapagal-Arroyo has approved a recommendation declaring a state of calamity in Mindanao, allowing government to use disaster funds to address the power crisis besetting the Philippines’ second-largest island.
This was disclosed on Thursday by Mindanao Development Authority chairman Jesus Dureza, who, until last year, was the Arroyo government’s press secretary.
Dureza made this disclosure [...]
GMA vows peaceful transition of power
about 6 months ago - No comments
MANILA, Philippines – President Arroyo yesterday vowed to ensure a peaceful turnover of power to the next chief executive on June 30, assuring critics that she would not stay a day longer in office.
In a speech to the military, Mrs. Arroyo said she would respect the nation’s democratic process, which requires her to make way [...]
Villar statistically tied with Noynoy in new SWS survey
about 6 months ago - No comments
Senators Benigno Simeon "Noynoy" Aquino III and Manuel Villar Jr. continued to engage in a neck and neck race for the country’s top post, and were statistically tied two months before the May 10 elections, the latest Social Weather Stations (SWS) survey showed.
The SWS poll, commissioned by BusinessWorld, showed that while Aquino remained the top [...]
Partial failure of elections can make Speaker Arroyo acting president
about 6 months ago - No comments
Whistleblower Rodolfo “Jun” Lozada on Tuesday reiterated warnings of a partial failure of elections that could allow President Arroyo to extend her term in Malaca ñang.
This can happen in a scenario where the local elections are successful, but the poll machines fail to transmit the results for the national seats, Lozada told Newsbreak on the [...]
Bong, Jinggoy, Miriam top Senate race: survey
about 6 months ago - No comments
MANILA, Philippines – If the May 10 senatorial elections were held today, re-electionist senators Ramon "Bong" Revilla Jr., Jose "Jinggoy" Estrada and Miriam Defensor-Santiago would top the race, results of the latest Pulse Asia survey revealed Wednesday.
The survey, conducted last February 21-25, showed Revilla getting 53.6% of votes, which translates to a statistical ranking of [...]
Related posts:
House panel asks Arroyo to declare power crisis in South
about 6 months ago - No comments
The House energy committee on Monday approved a proposal asking President Gloria Macapagal-Arroyo to declare a power crisis in Mindanao.
The motion proposed by Cagayan de Oro Rep. Rufus Rodriguez was unanimously approved, “recommend[ing] that the President act under Section 71 of the Epira [Electric Power Industry Reform Act] law and that she determine and declare [...]
PLDT completes another phase of fiber optic expansion
about 6 months ago - No comments
Philippine Long Distance Telephone Co. (PLDT) has completed another phase of its digital fiber optic network expansion by activating a 320-gigabit per second (Gbps) line across six network loops nationwide.
The line will serve rising demand for bandwidth as more customers increase their usage of broadband Internet and multimedia service, the company told the Philippine Stock [...]
Philip Morris, Fortune Tobacco form joint venture
about 6 months ago - No comments
MANILA, Philippines – The Philippine unit of Philip Morris International and unlisted Fortune Tobacco Corp. (FTC) will combine their core businesses in a new company which will control 90% of the local cigarette market.
"Philip Morris and Fortune Tobacco concluded an agreement to form a new company called PMFTC," Chris Nelson, president of Philip Morris Philippines, [...]
Philip Morris, Fortune Tobacco form joint venture
about 6 months ago - No comments
MANILA, Philippines – The Philippine unit of Philip Morris International and unlisted Fortune Tobacco Corp. (FTC) will combine their core businesses in a new company which will control 90% of the local cigarette market.
"Philip Morris and Fortune Tobacco concluded an agreement to form a new company called PMFTC," Chris Nelson, president of Philip Morris Philippines, [...]
Business groups fault policy inconsistency in Shell tax row
about 6 months ago - No comments
Two more business groups on Wednesday questioned the government’s bid to collect back taxes from Pilipinas Shell Petroleum Corp., citing the case as another example of inconsistent policy that would turn off investors.
In a joint statement, the Management Association of the Philippines (MAP) and Financial Executives Institute of the Philippines (FINEX) urged President Gloria Macapagal-Arroyo [...]