RAMON ANG, president and chief executive of San Miguel Corp. (SMC), and Ean Kuok, chairman of Shangri-La Asia Ltd., shake hands at the signing ceremony for the $1-billion Philippine Food Security Program, graced by (from left) Robert Kuok, chairman of Kerry Group Ltd., President Arroyo, SMC chairman Eduardo Cojuangco Jr. and Agriculture Secretary Arthur Yap. The event was held at the Shangri-La at the Fort. --RHOY COBILLA

SMC, Kuok in $1-B food tie-up

BIG businesses San Miguel Corp. (SMC) and Kuok Group of Companies are pooling together $1 billion to develop agricultural lands that will help address the country’s food-security concerns.

The partnership was sealed in a memorandum of understanding signed on Thursday and witnessed by President Arroyo.

Review visa for investors, BI asked

FILIPINO businessmen on Thursday called for a review of the Bureau of Immigration’s (BI) visa-upon-arrival scheme, and demanded that the program be implemented according to its original intention—to give hassle-free access to the country solely for legitimate foreign investors.

BSP confident economy will hurdle future challenges

THE next five years are to prove more challenging for the Bangko Sentral ng Pilipinas (BSP).

But BSP Governor Amando Tetangco Jr. is confident the monetary authorities are up to the task and that the economy is in a better position to deal with whatever is coming.

2.6M more Metro folk by 2020–ADB  

AROUND 2.6 million more Filipinos are projected to be added to the already bursting-at-the-seams population of Metro Manila by 2020, according to the latest report released by the Asian Development Bank (ADB).

The ADB report titled “Managing Asian Cities” is projecting the population growth rate in Metro Manila to hit around 24 percent from 2006 to 2020. This will also add to the expectation that the Philippines will have an urban population of 34.8 million by 2030, or a 67.1-percent increase from 2005, and account for 3.2 percent of the country’s population by that time.

RP shows strongest women’s gains in Aspac

THE Philippines posted the strongest index score among 13 Asia-Pacific markets in the fourth annual MasterCard Worldwide Index of Women’s Advancement, the 2008 results of which were recently released by MasterCard Worldwide.

Meralco suit vs Peza will be withdrawn

SAYING it shared the goal of bringing down rates at accredited zones of the Philippine Economic Zone Authority (Peza), the Manila Electric Co. (Meralco) is set to withdraw its petition to prohibit Peza from implementing the guidelines on the registration of power-generation facilities and other entities inside economic zones.

Oil rises to record over $145

SINGAPORE—Crude oil rose to a record above $145 a barrel in New York as investors sought an alternative to tumbling stock markets.

Oil has advanced more than 50 percent this year, while equity indexes and the US currency have declined. Economists expect the European Central Bank (ECB) to raise its benchmark rate Thursday, spurring commodity buying as a hedge against a weaker dollar. Summer maintenance at North Sea oil fields is limiting European crude supplies, further supporting prices.

MWC bags $15-M contract in Vietnam

THE Ayala-led Manila Water Co. (MWC) has bagged a $15-million (est. P675 million) contract on performance-based leakage reduction and management services in Vietnam’s Ho Chi Minh City, formerly Saigon.

PNOC to negotiate with Burgundy on CMOL?

THE Department of Energy has reportedly given the Philippine National Oil Co. (PNOC) the green light to negotiate with Burgundy Global Exploration Corp. (BGEC) for the development of the Camago-Malampaya Oil Leg (CMOL), contradicting a controversial Palace order that mandated the PNOC to follow full public biddings for the purpose.

GMA forms task force on Asean charter

PRESIDENT Arroyo has created an interagency task force “to act with resolve and urgency” in helping the Senate ratify the Association of Southeast Asian Nations (Asean) charter apparently in the hope the Senate could do so before the 14th Asean Summit in Bangkok, Thailand, in December.

PAL revives ‘Buy 1, Take 1’ promo

PHILIPPINE Airlines (PAL) on Thursday said it was reviving its “Buy 1, Take 1” promotional-fare scheme for its domestic services.

In a statement, the airline offers a free one-way domestic ticket for every such ticket bought.

MORE STORIES ...

Proudly, Pinoy-made MV Argolikos, the first Subic-made and the first Philippine-made container carrier, will be christened today by President Arroyo. The 4,300-TEU cargo vessel will be delivered this month to its owner, the Greek shipping firm Dioryx Maritime Corp. --HENRY EMPEÑO