Ford Group Philippines (FGP), the country’s lone volume exporter of completely built-up cars, has stressed that government incentive and policies are integral in the development of the local automot…

What games stand the best chance of changing the broader industry in 2009, either by dramatically influencing what consumers play and purchase, or by demonstrating the commercial viability of new reve…

By Manolo Serapio Jr.
U.S. oil major Exxon Mobil Corp (XOM.N) has committed to invest up to $100 million to search for oil and gas in the southwestern Philippines, according to documents from the Department of Energy.

Exxon earlier took a 50 percent interest in a contract held by Malaysian exploration firm Mitra Energy Ltd to search for oil and gas in the deepwater portion of the Sandakan basin.

An official at the energy department, who declined to be named because he was not authorised to speak, confirmed on Tuesday that Exxon is planning to invest up to $100 million on a its drilling programme, adding the agency was waiting for company to provide details of its spending plans.

Interest in oil and gas in the Southeast Asian nation has increased following the discovery of Galoc oilfield, the country’s first major oil find since the 1990s, in the southwestern Philippines.

Galoc, operated by European trader Vitol and Australian oil firm Otto Energy (OEL.AX), has been producing an average 15,000 barrels per day since it came onstream Oct. 9. Reserves at the oilfield are estimated at 10 million barrels.

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The Philippines plans to import this year more than 3,000 goats and sheep from Australia to help improve the quality of the local livestock breed, Australian Ambassador Rod Smith said. Smith said the …

MANILA, Philippines–Local oil firms are still expected to cut fuel prices this month, according to the Department of Energy. Energy Secretary Angelo Reyes said on Monday that since the average price …

Local share prices closed 5.4 percent higher yesterday on the first trading day of the year in line with other Asian bourses, dealers said. The composite index added 101.84 points to close at 1,974.69…

Magnolia Purewater tries to start the New Year right as it shoots for the second outright semis berth against Hapee Toothpaste while league-leading Harbour Centre hopes to repeat over Burger King as t…

are also expected to tap the offshore bond market early in 2009. The Philippine government has hired Credit Suisse, Deutsche Bank and HSBC Holdings to sell two-part bonds with likely maturities of 1…

“The proceeds augmented revenues of government for the whole of 2008 and helped in the achievement of fiscal targets,” Tan told reporters. The government expected net proceeds of

The country has formally requested proposals from banks for a bond which is likely to be among the year’s first – if not the first – offshore sovereign bond sales from Asia ex-