VENTURE CAPITAL POST

Australia-based gas and oil explorer Octanex said the main reason for its merger with Peak Oil & Gas was the latter's access to exploration projects in the Philippines and in Indonesia.

The Philippines' state-run pension fund Government Service Insurance System (GSIS) allotted PHP2 billion of its cash for additional investments in local stocks, according to the firm's president Robert Vergara.

The government of the Philippines would be launching an online portal designed to provide information on how foreign assistance had been spent, especially for the government's response to help the victims of Typhoon Haiyan.

Vancouver-based gold producer B2Gold Corp said it signed a definitive agreement with Canadian resource company Volta Resources Inc for the business combination of the two companies.

Finland-based mobile social messaging startup Jongla recently raised EUR1.4 million in a funding round from Oy Ingman Finance to be used for the development of its youth-oriented messaging app.

Analyst Andrew Temming of US-based investment firm Renaissance Investment Management said the firm had yet to find a stock on the Philippine Stock Exchange that they'd like to invest on.

Typhoon Haiyan's devastation would also lower the growth of the Philippine economy.

Typhoon Yolanda (International Name: Haiyan) devastated several provinces over the weekend as it cut across the Philippines packing gust winds of 275 kph.

Kampac International Chairman Charles Ampofo lauded the Philippines' economic growth.

Philippines' Robinsons Retail Holdings Inc. had decided to cut its public offering debut price by up to a third, said a report from Reuters.

According to Philippine Central Bank Governor Diwa Guinigundo, the country had been prepared for the eventual stimulus reduction by the US Federal Reserve.

The Philippine government presented opportunities for investments in the country to Chinese investors at the CAEXPO.

After the US Federal Reserve announced thw cutting back its bond buying program, investors who had entered Asia last four years ago were set in fears and had started exiting financial markets.

The Philippines' Department of Finance announced that it had begun to accept development proposals under the Philippines-Italy Debt for Development Swap Program.

The Philippine Commission on Audit asked the Department of Budget and Management to issue guidelines for the release of public funds for different local projects.