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Listed Basic Energy Corp. has earmarked P300 million for capital expenditures next year to bankroll its major projects in the oil and gas, and geothermal energy fields. In a statement, Basic Energy said that it has developed a well-balanced portfolio consisting of short-term cash flow producing projects and medium- to…

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BEIJING: Chinese oil giant Sinopec has suspended two executives following a pipeline explosion in the coastal city of Qingdao, which left more than 50 people dead, state media said on Wednesday. The blast last week occurred after a pipeline, run by state-owned Sinopec, sprang a leak early on Friday last…

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UNITED NATIONS, United States: The World Bank and United Nations on Wednesday (Thursday in Manila) appealed for billions of dollars to provide electricity for the poorest nations, but said there would be no investment in nuclear power. “We don’t do nuclear energy,” said World Bank President Jim Yong Kim as…

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BDO Unibank Inc., one of the banking arms of conglomerate SM Investments Corp., has shortened the offer period for its P5-billion long-term negotiable certificates of deposit (LTNCD) due to strong demand. In a disclosure to the Philippine Stock Exchange, BDO said it closed the book-building process for its issue of…


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The Civil Aviation Authority of the Philippines (CAAP) on Thursday said that the United States Federal Aviation Administration (FAA) safety audit has been postponed instead it will push through on January 2014. “They [FAA] have postponed audit schedule for January [2014],” CAAP Director General John Andrews said in a text…

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Globe Telecom’s postpaid segment continued to provide solid contri-bution to the company’s overall mobile business with revenues standing at P20 billion at the end of the third quarter this year, a 20-percent increase from the P16.7 billion recorded in the same period of 2012. “Globe remains to be the strongest…

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