James Ryan Jonas

Manny Pangilinan to buy Philippine Airlines (PAL)?

Manny V. Pangilinan (MVP) is on a buying spree.
Through his holding firm Metro Pacific Investments Corp. (MPI), MVP acquired the following:

telecommunication company PLDT in 1988;
water concessionaire Maynilad in 2006;
the Manila North Tollways in 2008;
the Philippines’ largest mining company Philex in 2009
power distribution company Meralco in 2009;
hospital Makati Medical Center in 2009;
broadcast network ABC5 (now TV5) also in 2009

Now it appears that MVP wants to add in this portfolio another company that is significant to most Filipinos. Rumor has it that he is already in talks to buy the country’s flag carrier, Philippine Airlines or PAL.

Most expensive iPad 2: For sale at US$7.8 million

Millions of people around the world now own an Apple iPad 2. So what do you do to your gadget if you want to stand out and flaunt your wealth?

The answer: plaster it with 24-karat gold, replace the Apple logo with 24-karat diamonds, pepper the frame with the oldest rock in the world and top it off with bones of a dino — wait for it — saur!

Yes, the most expensive iPad 2 — containing gold, diamonds, prehistoric rocks and bones of an extinct animal — is now for sale at £5 million (GBP UK pounds) or approximately US$7.8 million.

Beware of the fake Unionbank website

Be warned!

An “Enhanced Security Update” email supposedly coming from the UnionBank of the Philippines is making the rounds asking you to log in to your online banking account. But the moment you do so, you might lose your cash to scammers. The email is actually a phishing email designed to steal your login details in order to hack your account.

LBC Bank now closed; PDIC to issue deposit refunds

Another one bites the dust.

LBC Development Bank, commonly known as LBC Bank to depositors, has been ordered closed by the Bangko Sentral ng Pilipinas (BSP) starting September 9.

The Philippine Deposit Insurance Corp (PDIC) announced it is taking over the assets and liabilities of LBC Bank after the BSP determined last week that the thrift bank was insolvent and violated a cease-and-desist order on unsafe and unsound banking practices.

[Top 10 Most Shocking Photos] World Trade Center 9/11 attack in 2001

Today, exactly 10 years ago, is a day billions of people around the world will never forget.
On September 11, 2001, more than 3,000 people died when four airplane suicide attacks hit the United States. Primary targets were the two towers of the World Trade Center (WTC) in New York City and the U.S. Pentagon.
As we commemorate today the 10th anniversary of the said attacks, we relive the memories below in the 10 moving and very powerful images of the 9/11 terror attack in the World Trade Center.

Only 38k Filipinos will become millionaires by 2015

Only 38,000 Filipinos or roughly 0.04% of the Philippine population will become millionaires (in US$) by the year 2015. This is according to a report published by Julius Baer, a Swiss private banking group.
The report determined which countries in Asia will produce the most number of high networth individuals, or people with net worth of at least US$1 million (PHP42.5 million).

Pancake House pays P800 million to acquire Yellow Cab

The Yellow Cab pizza chain is now owned by the Pancake House Group.
Most Filipinos would probably be surprised about the news because a lot of people thought Yellow Cab is an international brand. In reality, though, Yellow Cab is a Philippine pizza chain that merely successfully marketed itself as a New York City-based franchise.
Now, Yellow Cab is a wholly-owned subsidiary of the Pancake House Group (Stock Code: PCKH) after the latter paid the owners of the local pizza company a total of P800 million.

Agri-Nurture (ANI) buys Big Chill fruit juice company

Food producer and trader Agri-Nurture Inc. (ANI) recently announced it is acquiring a majority stake in The Big Chill Inc. (TBC), a local seller of fruit juice and food products.
In a disclosure to the Philippine Stock Exchange, ANI said it would own 51% of TBC after making a cash payment of P20 million to the company.

James Ryan Jonas

Pinoy Money Talk