TVI Pacific Inc. and Mindoro Resources Ltd. announced the signing of an agreement on TVI’s strategic private placement in Mindoro as well as the possibility of a joint venture over the Agata nickel project in Surigao del Norte and Pan de Azucar project in Iloilo. Both Canadian mining groups are focused on gold, copper and nickel production and exploration in the Philippines.
TVI said under the agreement, it would infuse C$3.15 million in Mindoro Resources Ltd. and would have the exclusive right or option to enter into joint venture arrangements with Mindoro with respect to Agata and Pan de Azucar projects. TVI said under the agreement, it would advance a bridge loan of C$968,969 pursuant to a limited security promissory note.
Read more at Manila Standard Today
Photo by getolympus at Flickr.com
Whoa! Tumblr.com? Actually, it’s a nice, simple browse along memory lane as the microblogging site depicts the history of Malacañang Palace and the Philippine Presidents that came and went.
Image from tumblr.malacanang.gov.ph
She just tweeted, “I’m LIVEEE!! Check me out at http://t.co/5pwH2lq8“. Her biography page starts with “Sharmaine Ruffa Gutierrez, more popularly known as Ruffa Gutierrez…” but quips something that’s bound to raise eyebrows, “Considered showbiz royalty in the Philippines…” and ends it with “To date, Ruffa remains to be one of the most in demand celebrities in the Philippines and one of its most celebrated faces.” Wow!
But you gotta love the photos!
Website link: http://iloveruffag.com/
Photo from iloveruffag.com
Philippine Airlines (PAL) is increasing its authorized capital stock worth 17 billion Pesos or 85 billion common shares which will be subscribed to by PAL Holdings. The latter is also increasing its authorized capital stock to 23 billion Pesos the help fund the expansion of the carrier and accommodate the entry of San Miguel Corporation.
“SMC is buying into PAL and affiliate budget carrier Air Philippines Corp. (AirPhil) through several layers of holding companies. This will lead to SMC’s acquisition of 49 percent of PAL’s publicly-listed parent firm PAL Holdings, which in turn will give it effective control of at least 40 percent of PAL,” as reported by Philippine Star.
Read more at PhilStar.com
Photo by fraginal at Flickr.com
News broke today that casino operator Melco Crown Entertainment Limited (MPEL) is exploring options to open a casino in the Philippines. The company is said to be partnering on a billion-dollar casino resort in Manilla, the capital city. The latest rumors have Melco partnering with the Philippines’ richest man Henry Sy Jr. The deal would see a 50-50 joint venture between the casino, hotels, and entertainment available at the property.
The city, which had 1.7 million people as of 2010, is the second most populous city in the nation. The Philippines are hoping to turn a portion of the Manilla region into a gaming area similar to the Las Vegas strip.
Read more at Seeking Alpha
Photo by paomont at Flickr.com
At the GSM Mobile World Congress in Barcelona, Spain, Globe Telecom launched a customer strategy for the unbanked — paying for mobile apps and other Web goods through GCash, its internationally acclaimed micro payment service that transforms a mobile phone into a virtual wallet for money transfers at the speed and cost of a text message.
Though the Philippines has over 70 million mobile phone subscribers that have catapulted it as the world’s text messaging capital, its market is traditionally constrained by low credit card ownership that hampers full participation in today’s digital life.
To start off the service, Globe has partnered with Research in Motion (RIM) to allow Globe subscribers using BlackBerry devices to charge purchases for mobile applications from the BlackBerry App World onto their monthly-postpaid bill or prepaid account credits. The new service is expected to roll out in the second quarter this year.
A tie-up with American Express will roll out an online payment solution that will enable Globe subscribers to purchase goods such as electronics, toys, apparel, and many other goods from popular US and UK online sites that accept American Express.
Read more at CRM Innovation
Photo by GSMA MMU at Flickr.com