KapitBisig.com Philippines

Manila, Philippines — The country’s seven largest conglomerates are investing close to P200 billion for capital expenditures this year in a massive show of confidence in the local economy.

The seven groups are led by flagships First Pacific/Metro Pacific Investments Corporation, Ayala Corporation, JG Summit Holdings, SM Investments Corporation, San Miguel Corporation, Lopez Holdings Corporation, and Aboitiz Equity Ventures.

Full Story (mb.com.ph)

Manila, Philippines — Globe Asiatique Realty Holdings Corporation has decided to withdraw its planned initial public offering after BDO Capital and Investment Corporation resigned as the issue manager and lead underwriter.

In a letter to the Philippine Stock Exchange, Globe Asiatique Executive Vice President Dexter Lee said “GA has to respectfully request the withdrawal of our approval by the Exchange due to the unexpected resignation of our Issue Manager and Lead Underwriter.”

Full Story (mb.com.ph)

Malacañang yesterday said Interior Secretary Jesse Robredo, Environment Secretary Ramon Paje and Labor Secretary Rosalinda Baldoz were all appointed in an acting capacity so they would not have to be confirmed by the Commission on Appointments (CA).

Full Story (http://www.philstar.com)