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FAST FACTS: SM Investments Corporation
MANILA, Philippines – It took the Sy family almost 60 years to get to where they are now. Starting off with 10 centavos in his pocket, Henry Sy Sr is now the Philippines' richest man with an estimated...
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Cyberattack blocks Maersk terminals, new orders
STOCKHOLM, Sweden – Danish shipping mammoth Maersk said Wednesday, June 28, it had shut down some of its computer systems after a global cyberattack disrupted operations at its terminals and hindered...
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Jollibee to open 1000th store in BGC
MANILA, Philippines – Jollibee Foods Corporation (JFC) will open the 1000th branch of its flagship brand Jollibee on Tuesday, July 4, in Bonifacio Global City in Taguig, a business district largely...
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Favila, Abacan get seats in Bangko Sentral's Monetary Board
MANILA, Philippines – President Rodrigo Duterte appointed Peter Favila, a former banker and trade secretary, and Antonio Abacan Jr, a former president of Metrobank, as the new members of the 7-seat...
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Resorts World Manila resumes gaming operations
MANILA, Philippines – Resorts World Manila announced Thursday, June 29, it was resuming its gaming operations.In a statement, the hotel-casino said the Philippine Amusement and Gaming Corporation...
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Century Properties sets sights on affordable housing market
MANILA, Philippines – After having made its name as a developer of high-end high-rises, Antonio-led Century Properties Group Incorporated is now diving headfirst into the affordable housing market."The...
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Most Maersk operations running after cyberattack
STOCKHOLM, Sweden – Maersk, the Danish container and shipping giant crippled by a global cyberattack this week, said Thursday, June 29, most of its operations were now up and running again."We are able...
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Bo’s Coffee bucks foreign dominance
When McDonald’s announced plans to enter the Philippines in 1981, the fledgling Jollibee could have thrown in the towel. Instead, Tony Tan Caktiong says he visited McDonald’s stores abroad, adopted...
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Jollibee eyes branches in Toronto, Manhattan and Japan
MANILA, Philippines— The Filipino burger will soon be served in Toronto, Manhattan and even Japan.Jollibee Foods Corporation (JFC), the firm behind the country’s leading fast food giant, is...
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Qatar copies rival Saudi's 'investment diplomacy'
WASHINGTON DC, USA – US President Donald Trump may accuse Qatar of sponsoring terrorism, but that did not stop the wealthy emirate this week from lighting up the Empire State building in the national...
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ERC urged to reject Meralco's 7 coal power plants
MANILA, Philippines – Civil society organizations called on the Energy Regulatory Commission (ERC) to reject applications filed by the Manila Electric Company (Meralco) for power supply agreements...
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DBP willing to help rebuild Marawi City, says CEO
LEGAZPI CITY, Philippines – The state-owned Development Bank of the Philippines (DBP) is willing to help rebuild Marawi City, currently being ravaged due to the war against the Maute Group, the bank's...
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World Bank cuts PH growth outlook to 6.8%
MANILA, Philippines – The World Bank lowered its growth forecast for the Philippine economy in 2017 to 6.8%, after it saw signs of slow public spending in the first 3 months of the year.The bank,...
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China opens up $10-T bond market in liberalization step
SHANGHAI, China – China on Monday, July 3, opened up its $10 trillion bond market to foreign investors, in the latest liberalization move by Beijing as it seeks to draw in more fund flows as it battles...
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Mindanao Railway construction starts in 2018
MANILA, Philippines – After more than two decades and several feasibility studies, construction of the 830-kilometer Mindanao Railway Network will finally begin in 2018.The administration of President...
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UnionBank probes possible P17-M theft by employee
MANILA, Philippines – Aboitiz-led Union Bank of the Philippines (UnionBank) is conducting its own investigation into an alleged P17-million fraud incident involving one of its employees.UnionBank,...
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Samsung to invest $18 billion in memory chip business
SEOUL, South Korea – Samsung Electronics will invest nearly $18 billion in its chip business, the South Korean firm said Tuesday, July 4, as it seeks to expand its lead in the global memory chip and...
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Under-pressure Qatar says to boost gas production 30%
DOHA, Qatar – Energy-rich Qatar said Tuesday, July 4, it plans to increase natural gas production by 30% over the next several years, as it faces pressure from its neighbours in a diplomatic...
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Meralco denies 'midnight deals' with ERC on 7 coal power plants
MANILA, Philippines – The Manila Electric Company (Meralco) maintained there is nothing anomalous about its applications for power supply agreements (PSAs) on 7 coal-fired power plants, which were...
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Businesses think SC decision on Mindanao martial law 'necessary'
MANILA, Philippines – With clashes still ongoing between terrorists and government forces in Marawi City, several business groups believe the decision of the Supreme Court (SC) to uphold the...
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