Ayala allots $500 M for power projects

MANILA, Philippines - Aiming to sustain its growth momentum on the back of a vibrant local economy, Ayala Corp. is shelling out $500 million in the energy space over the next five years in line with its goal to build a portfolio of around 1,000 megawatts of power capacity.

Ayala Corp. also said it would bid for road, rail and other transport projects.

In a briefing following the company’s annual stockholders meeting yesterday, Ayala chairman Jaime Augusto Zobel De Ayala said the group is raising its capital spending by 38 percent this year to a record P91 billion, bulk of which will be used to develop a record number of residential units and for the modernization of its telecommunications network and investments in the water business.

The conglomerate said it is prepared to bid for the contract to extend and manage the Light Rail Transt Line 1 (LRT 1). The government said it will start the bidding process for the P61.53 billion LRT 1 South Extension project from Baclaran to Bacoor, Cavite this month.

Soft drink cited as factor in N.Z. woman's death: reports

A New Zealand inquest has been told a woman's 10-litre (2.2 gallon) a day Coca-Cola …

A New Zealand inquest has been told a woman's 10-litre (2.2 gallon) a day Coca-Cola habit may have contributed to her death, reports said Friday.

A coroner's inquest was told Natasha Harris, a 30-year-old mother of eight from Invercargill in southern New Zealand who died in February 2010, drank huge amounts of the caffeinated beverage, Fairfax Media reported.

It said pathologist Dan Mornin told the inquest that he believed Harris died from cardiac arrhythmia and was also suffering from low potassium levels and caffeine toxicity.

Mornin testified her excessive soft drink consumption probably contributed to her medical condition, along with poor nutrition, Fairfax reported.

Disney film boss quits after 'John Carter' fiasco

Walt Disney Studios President Rich Ross 

The chairman of Walt Disney Studios Rich Ross resigned Friday, a month after the massive box office flop suffered by critically-panned sci-fi fantasy film "John Carter."

The 15-year Disney veteran made no reference to the movie -- which lost some $200 million -- in his resignation statement, while Disney overall boss Bob Iger paid tribute to Ross's "business acumen and personal integrity."


"For the last 15 years, I have had the opportunity to work with incredibly talented people on behalf of the world's best loved brand," he said in the statement issued by the entertainment giant," the statement said.

MVP to technopreneurs: Failure leads to success

MAKATI CITY, METRO MANILA—Just like many successful tycoons in the past, Manny V. Pangilinan, the head of one of the country’s largest conglomerates reiterated an often-said advice about how success is created.

“Failure is just part of success. You’ll have to learn from those mistakes.”

The chairman of the Philippine Long Distance Telephone Company (PLDT) addressed questions about success when it comes to any industry, debunking the notion that “everything has already been created.”

Ideas, be it for commercial purposes or for social responsibility, are always needed to make the lives of others better, said Pangilinan.

Cebu Timeline

First photo cover of my first timeline in Facebook. That photo was taken during our trip in Cebu last year.