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Latest News Headlines from in and around the Philippines

News Headlines in and around the Philippines

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  • Spanish princess to stand trial in royal first

    A judge Monday ordered Princess Cristina, the sister of Spain’s King Felipe VI, to stand trial for alleged tax fraud, the first time a member of the royal family has been put in the dock.

    A court on the island of Mallorca ordered Cristina, 49, to stand trial on two counts of accessory to tax fraud in connection with her husband’s business affairs, a court source said.

  • PBA giving away free tickets to Christmas Day game
    The PBA has joined the spirit of giving this holiday season, offering free general admission tickets for the semifinals game between Rain or Shine and Alaska at Mall of Asia Arena on Christmas.
  • No trading at PSE during the holidays

    There will be no trading at the Philippine Stock Exchange (PSE) during the days declared as regular and special non-working holidays over the Christmas break.

    “Since the government has declared the suspension of bank clearing and settlement operations for December 24, 25, 26, 30 and 31, 2014 and January 1 and 2, 2015, there will also be no trading, clearing and settlement at the PSE during these dates,” PSE President and CEO Hans B. Sicat explained.

    The bourse said this is consistent with Proclamation 655 issued by the Malacañang on September 25, 2013.

    For 2014, the remaining stock market trading days are on December 23 and 29, 2014. Next year, trading at the PSE and clearing and settlement at the SCCP resume on January 5, 2015.

    “We understand that prolonged breaks can be disruptive to the financial system especially in the context of globalizing environments and we have thus asked the Bangko Sentral ng Pilipinas to take into account in subsequent similar occasions opening clearing operations to minimize such disruptions,” Sicat said in his statement.

     

  • Former ‘NSync Lance Bass marries boyfriend in LA
          MANILA, Philippines -- Former 'NSync member Lance Bass tied the knot with his boyfriend, actor Michael Turchin, in Los Angeles last Saturday. "The happy couple exchanged vows at the Park Plaza Hotel in Los Angeles, CA, surrounded by family and friends, including fellow 'NSync singers Joey Fatone, Chris Kirkpatrick and JC Chasez," E! Online reported. Justin Timberlake, Bass' fellow member in the boyband, was on tour and was not able to attend. The newly married couple started dating in January 2011 and Bass proposed in September last year. "The beautiful day was officiated by close friends, Jamie-Lynn Sigler and JoAnna Garcia Swisher, which La...

    Keep on reading: Former ‘NSync Lance Bass marries boyfriend in LA
  • Spain’s ‘Xnet’ corruption fighters expose graft
    BARCELONA, Spain --- From the street, where passers-by can see only a falling-down sign saying "canned food," the building looks like an abandoned grocery store in one of Barcelona's seediest downtown neighborhoods. But hidden away inside is a group of cyber activists who, equipped with the Internet and a hope of bringing change, are bent on stamping out Spanish corruption that many feel has spiraled out of control. And the secretive members of Xnet want others outside Spain to follow their lead. Xnet invites leakers to pass on documents that provide evidence of possible corruption, inspired by the WikiLeaks site. But Xnet has gone further, working not just through activism but ...

    Keep on reading: Spain’s ‘Xnet’ corruption fighters expose graft
  • Miguel Tanfelix on being groomed as next Dingdong Dantes: 'Wow!'
    Ginu-groom ng GMA-7 si Miguel Tanfelix bilang “next leading man,” kaya hindi malayong sundan niya ang mga yapak ng paborito niyang si Dingdong Dantes. 
  • Bilibid inmate opposes transfer to NBI
    MANILA, Philippines---A high-profile convict detained for kidnapping filed a writ of amparo in the Court of Appeals on Monday to contest his jail transfer from the New Bilibid Prison in Muntinlupa to the National Bureau of Investigation headquarters in Manila. Noel Martinez was among the 19 high-profile inmates from Bilibid transferred to the NBI after a raid that yielded drugs, huge amount of cash, firearms, illegal drugs and other items on Dec. 15. The inmate, through his sister Marilou Golloso Martinez, argued in the petition that detainees have been prohibited from entertaining visitors since December 16. "At the outset, the transfer of Noel to the NBI facility is arbitr...

    Keep on reading: Bilibid inmate opposes transfer to NBI
  • WATCH: New 'Final Fantasy XV' trailer reveals epic storyline
    The video gives us a better glimpse of the game’s story, which involves the military takeover of the city of Insomnia. You’ve got huge airships, tense palace drama, some sour-faced old fart leading the “Final Fantasy” version of Imperial Stormtroopers… what’s not to like?
  • Philippines sets Q1 2015 domestic borrowing at $3B

    MANILA (Reuters) – The Philippines plans to raise 135 billion Philippine pesos ($3 billion) through the sale of Treasury bills and bonds in the first quarter of next year, the Bureau of Treasury said, unchanged from October-December.

    The Bureau of Treasury plans to sell 60 billion pesos worth of 91-day, 182-day and 364-day Treasury bills and 75 billion pesos of 7-, 10,- and 20-year Treasury bonds between January and March, it said in a notice to government security dealers.

    It also raised 135 billion pesos in October-December to help finance the government’s budget deficit, which is on course to fall below its target of 2 percent of gross domestic product this year.

    As much as 86 percent of the government’s borrowing requirement will be sourced from the domestic market next year. The balance of 14 percent will be raised externally, including up to $750 million in global bonds.

    Last month, National Treasurer Rosalia de Leon said the Philippines is looking at tapping the offshore debt market early in 2015 for its deficit funding requirements, or a possible issue bonds for liability management purposes.

    Manila’s global bond sale of up to $750 million was been approved by the Philippine central bank in principle in November, according to a government source who requested not to be named as he is not authorised to speak about the deal.

    The approval paves the way for the country’s return to the overseas debt market early next year.

    The central bank has also given the nod to a government plan to exchange up to $1.25 billion worth of foreign-currency denominated bonds for longer-dated securities to help it manage its obligations, the same source said.

    The Philippines has a history of issuing sovereign bonds early in the year to get favourable borrowing terms and raise the bulk of its foreign debt needs before the markets become more volatile.

    It wants to cut its dependence on foreign borrowing by pursuing debt buy-backs and swaps, and innovative deals such as global bonds denominated in local currency, a move praised by credit rating agencies.

    On Dec. 12, Moody’s Investors Service raised the Philippines’ credit rating to two notches above investment grade – matching Standard & Poor’s rating – saying favourable prospects for strong economic growth remained.

    ($1 = 44.6050 Philippine pesos)

  • DMCI Holdings to sell 25% stake in TPLEX to SMC for P1.83B
    MANILA, Philippines - The Consunji-led conglomerate DMCI Holdings Inc. is selling its 25.11 percent stake in the Tarlac-Pangasinan La Union Expressway (TPLEX) concessionaire to the San Miguel group for P1.83 billion.   The deal allows San Miguel Corp. to consolidate its interest in TPLEX - the first greenfield tollway project in its infrastructure portfolio - to over 70 percent.   In a disclosure to the Philippine Stock Exchange on Monday, DMCI said that together with its wholly owned subsidiary, DM Consunji Inc., it had agreed to sell the combined stake in Private Infra Dev Corp. (PIDC) to SMC unit Rapid Thoroughfares Inc.   Industry sources said that DM...

    Keep on reading: DMCI Holdings to sell 25% stake in TPLEX to SMC for P1.83B
  • PHL share prices higher on Wall Street gains
    Philippine share prices posted gains for the third straight session on Monday, following the gains of the US market.
  • PAL, Cebu Pacific urge CAB to reject Emirates petition
    Philippine Airlines and Cebu Pacific hit Emirates Airlines once again for its move asking the Civil Aeronautics Board (CAB) to extend its 30-day authority to fly a third daily flight between Manila and Dubai.