MANILA, March 26 (Reuters) - San Miguel Corp, the Philippines ' most diversified conglomerate, said on Thursday it had obtained board approval for a planned re-issuance and private placement of 300 million preferred shares.
* Says raises 7.5 billion pesos ($167 million) from the issuance of long-term certificates of deposit that was more than twice oversubscribed Source text: (http://bit.ly/1Nah8L4) Further company coverage: ($1 = 44.7800 Philippine pesos) (Reporting By Neil Jerome Morales)
MANILA, March 25 (Reuters) - The Philippines on Wednesday ordered oil companies, including Petron Corp and local units of Shell and Chevron, to sell only Euro IV-compliant fuels by July 1 in a drive to boost air quality in the Southeast Asian country.
MANILA, March 24 (Reuters) - The Philippines wants to auction its stake in state-controlled United Coconut Planters Bank (UCPB) this year, the country's finance minister said on Tuesday, commenting on a plan that has attracted some of the country's biggest lenders.
South Korea's Shinhan Bank is set to open a branch in Manila in the third quarter, the second lender to enter the local market after the Philippine central bank liberalised rules on the entry of foreign institutions, the BusinessWorld newspaper reported, citing a company statement. ...
* Says not in merger talks with Bank of Commerce of conglomerate San Miguel Corp Source text for Eikon: (http://bit.ly/1N41kaJ) Further company coverage: (Reporting By Neil Jerome Morales)
MANILA, March 23 (Reuters) - The Philippines ' largest lender, BDO Unibank Inc, said on Monday it is not bidding for industrial conglomerate San Miguel Corp's controlling stake in mid-sized lender Bank of Commerce.
Top lender BDO Unibank Inc and the Rebisco group's banking arm Asia United Bank Corp have expressed interest to acquire Bank of Commerce from conglomerate San Miguel Corp, the Philippine Daily Inquirer reported, citing industry sources. (http://bit.ly/1EBFjf0)
Chinese nickel pig iron producers have continued to supply the market despite the Indonesian ore ban with shipments from the Philippines stepping up. We also think as one of few high-margin small-cap mining stocks, Western Areas receives a disproportionate
machine maker and casino developer Universal Entertainment accounted for $40 million in payments made in 2010 to an associate of the Philippines ' top gambling regulator at that time, people with knowledge of the matter told Reuters.