plus 3, BPI Family Bank sees robust auto loan growth in 2010 - BusinessWorld Online

BPI Family Bank sees robust auto loan growth in 2010 - BusinessWorld Online
AARP Selects Restaurant.com as a Preferred Provider to Make Delicious ... - Earthtimes
Honda to build second motorcycle plant in India - YAHOO!
Honda India bike unit plans $103 mil second plant - Reuters India

BPI Family Bank sees robust auto loan growth in 2010 - BusinessWorld Online

Posted: 09 Mar 2010 07:48 AM PST

Finance

Posted on 08:44 PM, March 09, 2010

BPI FAMILY Savings Bank, the thrift lending arm of listed Bank of the Philippine Islands (BPI), expects its auto loans to grow by double digits this year as consumer confidence recovers along with the economy.

Felipe P. Carlos, BPI Family vice-president and head of retail auto loans, told a briefing yesterday: "Last year, everybody was hesitant [to spend] and held off purchases because they were worried about the recession... [But that's not the case now]. Even industry figures will show that."

The Chamber of Automotive Manufacturers of the Philippines, Inc.

reported yesterday that car sales in the first two months of the year surged by 36.6% to 24,366 units.

David G. Sarmiento, Jr., BPI Family senior vice-president for auto and motorcycle loans, said the bank's auto loans grew by about 27% in the first two months of the year -- enough to purchase about 3,000 vehicles -- but he declined to disclose the actual loan amount.

Despite the higher auto loan growth numbers in the early part of the year, BPI Family executives said they expect the bank's 2010 auto loan portfolio, which reached almost P20 billion last year, to increase by 10%-12% since it was still too early to establish a trend.

Mr. Sarmiento said the introduction of new car models is expected to spur loan growth, with vehicle owners seeking to replace old car models.

Also yesterday, BPI Family launched a promo extending free comprehensive insurance that also covers "acts of God" incidents to cars purchased using a BPI loan. The cars must be purchased by March 31 and for delivery up to April 15.

Mr. Sarmiento said the bank expects a good reception to the promo, pointing out that auto loan applications surged when the program was first introduced in August 2008.

Meanwhile, BPI/MS Insurance Corp., a joint venture between BPI and Japan's largest non-life insurance firm Mitsui Sumitomo Insurance Co., said it had paid about P500 million in claims from damage caused by typhoons Ondoy and Pepeng.

Perfecto M. Domingo, head of underwriting and claims group at BPI/MS, added the company expects its 2010 revenues from premium payments to grow by 10% from P2.7 billion last year. "[The main growth driver] are motor and fire insurance and also bancassurance business coming from BPI," he said. -- Don Gil K. Carreon

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AARP Selects Restaurant.com as a Preferred Provider to Make Delicious ... - Earthtimes

Posted: 09 Mar 2010 07:55 AM PST

Relationship Gives AARP Members a New Discount on Gift Certificates for More than 14,000 Restaurants Nationwide

WASHINGTON, March 9 /PRNewswire-USNewswire/ -- AARP and Restaurant.com today announced a new relationship that will make an exclusive discount available to AARP members on the 25,000 daily gift certificate options offered on Restaurant.com. The new AARP Restaurant Discount Center powered by Restaurant.com is available by visiting (www.aarp.org/restaurant). The site allows AARP members to search a database of more than 14,000 participating restaurants at which they can receive savings and enjoy memorable meals.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070209/NYF043LOGO)

"Our members lead active and engaging lives: they're traveling, visiting their kids and grandkids and spending time with friends," said Howard Byck, senior vice president of lifestyle products and services for AARP Services, Inc., the wholly-owned subsidiary of AARP. "Particularly in this economy, AARP is committed to helping them enjoy more for less. Launching the Restaurant Discount Center powered by Restaurant.com is a natural fit that gives AARP members access to discounts at thousands of restaurants across the country."

Since 1999, Restaurant.com has connected restaurants and diners nationwide. Through this new relationship, AARP members can access discounts for Restaurant.com gift certificates by visiting the Restaurant Discount Center and, when prompted, entering their AARP member information. Savings apply to the Restaurant.com Gift Center and to all the gift certificate denominations available on the site, which include $10, $25, $50, $75 and $100.

"Restaurant.com is proud to be an AARP preferred discount provider. AARP is a reputable organization that provides so much value to an important population," said Cary Chessick, president and CEO of Restaurant.com. "Like AARP, Restaurant.com believes in quality products and services and we look forward to making a best-in-class experience available to AARP members as they take advantage of dining savings through this new relationship."

To explore all the restaurant choices in any local or national area, AARP members can simply select a location and then choose to refine their restaurant search by criteria such as cuisine, price and atmosphere. Once a specific restaurant is selected, restaurant Web pages show menus, photos, gift certificate denominations and available quantities. Members can then purchase the denomination and quantity of their choice, print the certificate instantly for immediate use and present the certificate to their server to have the amount deducted from the final bill.

For more information on the Restaurant Discount Center, AARP members can visit www.aarp.org/restaurant or call 1-877-657-4710.

About AARP

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 35.7 million readers; AARP Bulletin, the go-to news source for AARP's millions of members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

ABOUT AARP SERVICES INC.

AARP Services Inc., founded in 1999, is a wholly-owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP's almost 40 million members. The provider offers currently span health products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance. AARP Services also engages in new product development activities for AARP and provides certain consulting services to outside companies. In 2005, AARP Services founded AARP Financial Inc., a wholly-owned taxable subsidiary that manages the provider relationships for and performs quality control oversight for the financial products that carry the AARP name, including credit cards, auto and home, mobile home and motorcycle insurance, and life insurance and annuities. AARP Financial also provides access to proprietary investment products and services, including mutual funds and financial guidance, designed to meet the needs of investors at any life stage.

About Restaurant.com

Restaurant.com is the trusted and valued source connecting restaurants and diners nationwide. The company offers savings at more than 14,000 restaurants nationwide with more than 25,000 daily gift certificate options. Restaurant.com brings people together to relax, converse and enjoy well-prepared and -served meals at affordable prices. To date, Restaurant.com customers have saved more than $100 million through the gift certificate program. Restaurant.com has operated since 1999 and is based in Arlington Heights, Ill.

SOURCE AARP

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Honda to build second motorcycle plant in India - YAHOO!

Posted: 09 Mar 2010 12:39 AM PST

James buzzed up: Ohio St.: Employee kills co-worker, wounds another (AP)

40 seconds ago 2010-03-09T08:44:24-08:00

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Honda India bike unit plans $103 mil second plant - Reuters India

Posted: 09 Mar 2010 12:46 AM PST

MUMBAI (Reuters) - Japan's Honda will invest 4.7 billion rupees ($103 million) to build a second production plant in India, with an annual capacity of 600,000 units, to meet rising demand in the world's second-largest motorcycle market.

Motorcycle sales in India rose 19 percent in 2009 to nearly 9 million units, behind China's 15 million-plus units.

Honda Motorcycle & Scooter India Pvt Ltd said in a statement the new plant, to be located in the north-western Rajasthan state, would become operational from the second half of 2011.

Honda's Indian unit said it would also expand capacity at its existing plant in Haryana state to 1.55 million units by end-March from 1.25 million units and further raise it to 1.6 million units next year.

The company, which produces Unicorn, Shine, CBF Stunner motorcycles and scooters including Activa and Aviator, said its annual production capacity would rise to 2.2 million units, once the second plant becomes operational.

Honda, which had so far been producing bikes with engine capacity of more than 125cc, last month made its entry into the 100-110cc segment with the launch of CB Twister.

Honda Motorcycle is not the only one expanding in India.

Hero Honda Motors, the country's largest bike maker in which Honda has a 26-percent stake, has also said that it was looking at setting up a new plant and expanding capacity from its current 5 million units a year.

Earlier this month, smaller rival Bajaj Auto said it was expanding its motorcycle capacity to 300,000 units per month by April 2010, up from its current just over 200,000 units month. Continued...

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