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THE power unit of listed-company Aboitiz Equity Ventures Inc. (AEV) will borrow approximately P44 billion to ramp up the construction of its power facilities in the Visayas and Mindanao. Stephen Paradies, AEV Senior Vice President and Chief Financial Officer (CFO) said AboitizPower is in the advanced stage of closing several…

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President Benigno Aquino 3rd and US Ambassador to Manila Philip Goldberg will grace the 10th International Food Exhibition (IFEX) Philippines on May 21 at SMX Convention Center, Mall of Asia Complex, in Pasay City (Metro Manila). The President has been invited as guest of honor at the welcome reception hosted…

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LOPEZ-led First Gen Corp. on Monday said its net income for the first quarter of the year grew by 17.7 percent or $50.5 million. In a disclosure to the Philippine Stock Exchange (PSE), the company said its net income attributable to equity holders of the parent rose $7.6 million from…


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SEOUL: Indian Prime Minister Narendra Modi arrived in Seoul on Monday for a two-day visit heavily focused on economic ties with Asia’s fourth-largest economy and beefing up investment from South Korean firms. On his first visit to Seoul since taking office a year ago, Modi was to meet President Park…

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WASHINGTON, D.C.: The Pentagon’s number-two ranking official held talks on Tuesday (Wednesday in Manila) in Uganda to discuss United States (US) military support for the fight against Lord’s Resistance Army forces. In meetings with Foreign Minister Henry Okello and the Chief of Defense Forces Edward Katumba Wamala, US Deputy Secretary…

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TOKYO: The clean-up after the Fukushima nuclear disaster could cost five times more than estimated, figures have revealed, as Tokyo Electric Power said on Wednesday that steam had been seen again in a reactor building. The government-backed National Institute of Advanced Industrial Science and Technology said decontamination work in Fukushima…

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NEW DELHI: Indian voters believe corruption has risen under the current government, but say the economy will be the most important issue in elections due next year, according to a new poll. A total of 69 percent of respondents in the major survey published this week by the Center for…

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MEXICO CITY: Heavily armed men assaulted Mexican federal police units in a carefully planned attack in which 22 people were killed, most of them assailants, in six towns, the government announced on Tuesday (Wednesday in Manila). The gunmen concealed themselves in hills above checkpoints in Michoacan state, a western area…

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COLON, Panama: The 35-strong crew of the North Korea-flagged Chong Chon Gang ship being held in Panama for carrying undeclared Cuban weapons is physically well, a Red Cross team said on Tuesday (Wednesday in Manila). Panamanian Red Cross director Jaime Fernandez said the North Koreans, who reportedly tried to mutiny…

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MIAMI: A United States (US) marine salvage firm has recovered virtually all of the silver bullion carried in a British cargo ship Gairsoppa that was sunk by a German U-boat off Ireland in World War II. The Odyssey Marine Exploration said it had pulled up 1,574 silver ingots from the…

Today's Breaking News

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WASHINGTON: Bruce Springsteen’s 18th studio album “High Hopes” went online Sunday in the United States, nine days before its general release—and on the 41st anniversary of The Boss’s debut outing. Television network CBS had announced it would host the Internet-only pre-release at www.cbs.com/shows/the_good_wife/springsteen after the conclusion of this week’s episode…

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DHAKA: Bangladesh’s ruling party defied pressure on Monday to open talks with the opposition after its walkover win in an election, which was marred by unprecedented bloodshed, boycotts and low turnout. Despite warnings that Sunday’s crushing victory did not amount to a mandate, the ruling Awami League vowed to “eliminate…

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NEW YORK: Millions of people across the United States on Monday made last minute preparations for an unusually bitter Arctic blast that could send temperatures plummeting to their coldest in 20 years. The North-eastern United States and parts of Canada have endured heavy snow and deadly sub-zero conditions since the…

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TACLOBAN: Schools reopened on Monday in badly damaged central Philippine towns for the first time since one of the world’s strongest storms ever to hit land killed thousands two months ago. Crowding into makeshift classrooms built from tarpaulins and plywood, the children— many of them still traumatized—sat quietly as teachers…

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US Secretary of State John Kerry Sunday said he had won Saudi support for his efforts to broker an Israeli-Palestinian peace deal, in a day of whistlestop diplomacy to key Arab allies. The top US diplomat, on the fourth day of his 10th visit to Israel and the West Bank,…