Author: Business News Asia

DUBLIN, IRELAND – Luxembourg-based Ardagh Group, a glass and metal packaging solutions giant, is reportedly finalizing a deal to acquire Saint Gobain’s Verallia glass packaging unit for about EUR3 billion (USD3.2 billion). The Irish Independent reported that Ardagh, which operates 89 facilities in 21 countries, is nearing the close of its biggest ever acquisition. Saint Gobain, a French multinational corporation, has placed its Verallia glass packaging unit up for sale for months, getting the attention of Ardagh and other global private equity giants. In January 2013, Ardagh Group agreed to acquire Saint Gobain’s Verallia North America for €1.275 billion. Ardagh…

Vancouver – The two pilots who died after their cargo plane crashed in the North Shore Mountains of Vancouver were identified as Robert Brandt, 34, and co-pilot Kevin Wang, 32. The identities of the pilot and the co-pilot of the twin-engine Swearingen SA 226 airplane that crashed Monday were released by the British Colombia Coroners Service. Brandt and Wang were both residents of the Vancouver area, authorities said. Brandt and Wang, whose bodies were found Tuesday afternoon, were the only persons onboard the plane, which was carrying paper products from Vancouver to Prince George. The aircraft reportedly suddenly plummeted into…

HOUSTON – A 41-year-old barber and father of three died following a police chase that ended in shooting outside an elementary school, authorities said. What started as suspected traffic violation turned tragic for Frank “Trey” Shephard, who was fatally shot by police officers in northeast Harris County. According to a Harris County Sheriff’s Office spokesman, the chase began about 10:40 a.m. in the Crosstimbers area of US-59. Houston Police tried to pull over the driver of a blue Chrysler 300 due to “suspicious activity,” including two unsafe lane changes. As they approached the car, the driver fled. A chase ensued…

MANILA, PHILIPPINES – A report released by the National Bureau of Investigation (NBI) and the National Posecution Service (NPS) revealed that at least 90 people had been recommended to be charged for their roles in the bloody clash in Mamasapano, Maguindanao, which resulted to the death of 44 elite policemen. Those who had been recommended to be criminally charged are members of the Moro Islamic Liberation Front, Bangsamoro Islamic Freedom Fighters, and private armed groups, a report by gmanetwork.com said. Justice Secretary Leila De Lima presented a copy of the 224-page NBI report on the Mamasapano clash on Thursday. The…

CEBU CITY, PHILIPPINES – At least 71 families living close to the Inayawan Sanitary Landfill were immediately evacuated on Thursday after Cebu City Mayor Michael Rama said the lives of those in the area at risk. Personnel from the Cebu City Hall aided the families in the immediate evacuation after authorities found a huge crack in the mountain of garbage inside the landfill, which could trigger a landslide. Rama he had directed the Department of Public Services and the Cebu City Disaster Risk Reduction and Management Council (CCRRMC) to enforce the evacuation within 24 hours and get all those people…

MANILA, PHILIPPINES – The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), issued an advisory to the public to inform them of the appropriate action to take if unsolicited text messages about bank advertisement, loan offer or marketing are received. Earlier, the BSP issued a Memorandum to all banks and its subsidiaries and affiliates, reminding them of their compliance with the law/rules that prohibit unsolicited text messages. The Cybercrime Prevention Act or R.A. No. 10175 criminalizes the transmission of commercial electronic communication with the use of computer system which seeks to advertise, sell or offer for sale products…

MANILA, PHILIPPINES – The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, said personal remittances from overseas Filipinos (OFs) amounted to US$2.1 billion in February 2015, an increase of 4.0 percent compared to the same period in 2014. As a result, remittance inflows for the first two months of the year reached US$4.1 billion, posting a year-on-year growth of 2.1 percent, BSP Officer-in-Charge Nestor A. Espenilla, Jr. said. For the period January-February 2015, personal remittances from land-based workers with work contracts of one year or more, and migrants’ transfers totaled US$3.1 billion. Meanwhile those from sea-based and…

MANILA, PHILIPPINES – Thousands of taxpayers in the Philippines trooped to the different offices of the Bureau of Internal Revenue (BIR) to beat the deadline of the filing of income tax returns (ITR). Taxpayers lined up outside BIR district offices around the country as early as 5 a.m. to ensure that they beat the deadline of the filing of ITR and avoide penalties. While taxpayers in Manila complaint of slow processing of their ITR filing, some BIR district offices in Visayas had different approach to address the influx of taxpayers. In Tacloban City, the BIR district office offered free food,…

NEW YORK – Low-cost Chinese telecoms equipment firm are now eating up on the market share of other global manufactures. But Nokia just won’t vow to the pressure. Finnish multinational communications and information technology firm Nokia announced that it is set to acquire Alcatel-Lucent, a French global telcommunications equipment company. Experts believe Nokia’s takeover of Alcatel-Lucent is part of its effort to challenge Ericsson and become the world’s leading telecoms equipment firm. The move is also considered as Nokia’s way of bolstering its market share as Chinese firms, such as Huawei and ZTE, challenge the sector on cost. The deal…

MAKATI, PHILIPPINES – Makati City Mayor Junjun Binay can now heave a sigh of relief after Vice Mayor Romulo Peña agreed to step down as the city’s acting mayor. Tensions are now expected to ease at the Makati City Hall and government service will be back to normal following Peña’s decision to heed the order of the Department of Interior and Local Government (DILG) to relinquish his position as acting mayor. Peña said his decision to step down was based on the orders from the DILG. He earlier asked the DILG to clarify his status after Binay was able to…

US technology giant Apple Inc announced that selfie sticks or similar monopods will be banned during the next Worldwide Developers Conference (WWDC). The move is aimed at providing members of the audience a better viewing experience, free from anything that could block their attention or could hit them in the head or face. “You are not permitted to make audio or audivisual recordings of WWDC or take professional photograhpic or video equipment, or wearable recording devices into Moscone West or Yerba Buena Gardens,” the company said in a statement posted on its website. In addition the company said: “You may…

MANILA, PHILIPPINES – Six Filipino nurses who have been stranded in Saudi Arabia for six months after their contracts have expired finally arrived in the Philippines through the help of a Saudi government official. The six nurses – Andrian Marie A. del Mundo, Mei-Lin B. Gunio, Patrice Anne C. Garcia, Norina A. Magsilang, Lourdes G. Molina and Melanie Maurine A. Masakayan – thanked Director General Saleh Al-Ahmari of the Ministry of Labor in Hail for his assistance in resolving their case. The Filipino nurses had stopped working following the termination of their contracts on October 2014 due to delayed salaries…

MANILA, PHILIPPINES – The World Bank (WB) cited the financial consumer regulatory environment in the domestic banking system in its “Republic of the Philippines: Diagnostic Review of Consumer Protection in the Banking Sector” that was published recently in the WB website. In the review, the multilateral lender said, “There is an impressive focus on consumer protection in the banking sector in the Philippines.” The WB said this finding is manifested through the wide range of laws and regulatory instruments issued by the Bangko Sentral ng Pilipinas (BSP) relating to such subjects such as Truth in Lending for loan products, credit…

MANILA, PHILIPPINES – At least 100 houses were destroyed, leaving 400 families homeless, when fire hit a densely-populated area in Longos, Zapote, Las Piñas City. The fire broke out at 12:28 a.m. and lasted until early dawn before it was totally placed under control by responding firefighters. No one was seriously injured although there were a few residents who sustained minor burns as they tried to salvage some of their belongings from the raging blaze. The cause of the blaze is still being investigated as the city’s fire marshall said damage to properties was initially pegged at P800,000. In Cebu,…

HONG KONG – Citigroup named Stephen Bird, its chief executive officer for Asia Pacific, as the new head of its global consumer bank. The announcement, contained in a memo issued by Citigroup Inc CEO Michael Corbat, said Bird, 48, will succeed Manuel Medina-Mora, who had said earlier this year that he would retire. Francisco Aristeguieta, 49, the CEO for Latin America, will fill Bird’s job, the memo to employees said. The change will take effect on 01 June. Corbat said Bird is exceptionally well-qualified to continue the transformation of Citigroup’s local consumer businesses into one Global Consumer Bank. Bird has…

PANGASINAN, PHILIPPINES – Five kids were confirmed dead after drowning in a river in Barangay Hacienda, Bungallon, Pangasinan, authorities said. Police investigators said the kids were playing near the river and then decided to take a quick swim. The victims did not know that they have gone to a deep part of the river, causing them to drown, the police said. The victims were identified as siblings Rose Ann, Nelson Jr and Carlo Marco and their cousins identified as Christian Lee Salazar and Manuel Bugayong. It was not yet known if the kids were all by themselves while playing…

PANGASINAN, PHILIPPINES – Five kids were confirmed dead after drowning in a river in Barangay Hacienda, Bungallon, Pangasinan, authorities said. Police investigators said the kids were playing near the river and then decided to take a quick swim. The victims did not know that they have gone to a deep part of the river, causing them to drown, the police said. The victims were identified as siblings Rose Ann, Nelson Jr and Carlo Marco and their cousins identified as Christian Lee Salazar and Manuel Bugayong. It was not yet known if the kids were all by themselves while playing in…

MANILA, PHILIPPINES – The Philippine Supreme Court (SC) has dismissed with finality the petition filed by Cadet First Class Aldrin Jeff Cudia in relation to his dismissal from the Philippine Military Academy (PMA). SC spokesman Atty. Theodore Te said the high court denied the cadet’s motion for reconsideration that sought to reserve its February 24 decision, which affirmed Cuda’s dismissal from the PMA. The SC ruled that the PMA did not violate Cudia’s right to due process when it dismissed the cadet for lying. The SC found Cudia guilty of “quibbling” which constitutes “lying,” when he explained that he and…

MANILA, PHILIPPINES – Alleged pork barrel scam queen Janet Napoles has been found guilty of serious illegal detention and was sentenced to life imprisonment or at least 30 years in jail. The Makati Regional Trial Court Branch 150 convicted Napoles for detaining her cousin and former employee Benhur Luy for three months. Judge Elmo Alameda also ordered Napoles to pay P50,000 in moral damages and another P50,000 in civil damages. Luy charged Napoles in court after he was allegedly detained by Napoles, who found out that he obtained a P5.5-million loan using her name without her permission. Luy’s camp, however,…

MANILA, PHILIPPINES – After clocking 27 record finishes so far this year and breaking past the 8,100 level, the Philippine Stock Exchange (PSE) now eyes to break past the 9,000 level. The PSE expressed optimism that the local stock market will be able to break past the 9,000 level, which will be an all-time high. The PSE issued the statement as President Benigno Aquino III sounded the opening bell on Tuesday. In today’s early tarding, the Philippine Stock Exchange index (PSEi) opened at 8,081.61, higher by 8.39 points or 0.10 percent from the previous trading day. Meanwhile, strong corporate earnings…