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Ayala Land net income up 18% to P11.5B in 1st half of 2017
MANILA, Philippines – Ayala Land Incorporated (ALI), the property arm of Ayala Corporation, saw its bottom line increase by 18% in the 1st half of this year, driven by residential sales and leasing.In...
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GMA 'cautiously optimistic' of hitting target despite income decline
MANILA, Philippines – GMA Network Incorporated remains cautiously optimistic of hitting its 2017 target even if it capped the 2nd quarter of the year with a much lower net income of P710.3 million...
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Philippine retail industry gears up for the future
MANILA, Philippines – Get off a bus stop anywhere in the metro and you're likely to be near a mall.Indeed so ubiquitous are malls in the country that the top 3 business groups here – SM, the Ayala...
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Metro Pacific starts NLEX Harbor Link's R10 section
MANILA, Philippines – The tollways unit of Metro Pacific Investments Corporation (MPIC) on Tuesday, August 15, broke ground for the P6-billion, 2.5-kilometer elevated expressway passing through Radial...
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10 years ago: A harbinger of 2008 financial crisis
NEW YORK CITY, USA – The failure of Lehman Brothers on September 15, 2008 triggered a series of convulsions in global finance that ultimately led to the worst crisis since the Great Depression.Yet a...
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BSP seen to hike interest rates until 2018 – BMI Research
MANILA, Philippines – Global research firm BMI Research said it expects the Bangko Sentral ng Pilipinas (BSP) to hike interest rates by 50 basis points until 2018, as inflation is seen hitting the...
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How the Sy family and Dennis Uy became business partners
MANILA, Philippines – How did Dennis Uy, a businessman from Davao and President Rodrigo Duterte's staunch supporter and friend, become a partner of the country's richest family, the Sys? Their...
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BSP outlines new rules, penalties for money launderers
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) will impose stiffer penalties on individuals found to be guilty of money laundering.BSP Deputy Governor Chuchi Fonacier issued Circular...
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How to grow a business, according to Dennis Uy
MANILA, Philippines – When the clock strikes 12 in one of the tallest skyscrapers in the Bonifacio Global City business district, two office floors shut their lights to start lunch break. As other...
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Warning from history: Could Japan-style crash hit China?
TOKYO, Japan – Sizzling property prices, a groaning debt load, wealthy tourists and tycoons willing to slap down eye-popping sums for art: China is starting to look like Japan before its economic...
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Cebu Pacific to launch flights from Zamboanga to Sandakan, Malaysia
MANILA, Philippines – Gokongwei-led Cebu Pacific announced the bolstering of its domestic and regional connections with 4 new routes beginning October this year.In a statement on Wednesday, August 16,...
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Megacore buys 14.67% stake in Megawide for P5.68B
MANILA, Philippines – Megawide Construction Corporation's parent company Citicore Holdings Investment Incorporated sold its P14.67% stake in the listed construction firm to newly-formed Megacore...
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Troubled Cathay Pacific loses HK$2.05B in first half 2017
HONG KONG – Hong Kong flag carrier Cathay Pacific on Wednesday, August 16, reported a massive net loss of HK$2.05 billion ($262.07 million) for the first half of the year as the airline struggled with...
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Philippine GDP grows faster by 6.5% in Q2 2017
MANILA, Philippines (3rd UPDATE) – As agriculture recovers and government spending picks up, the country's gross domestic product (GDP) grew 6.5% in the 2nd quarter of 2017, recovering from a slowdown...
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Gov't spending, agriculture lift Philippine GDP in Q2 2017
MANILA, Philippines – After months of promises, the Duterte administration's much anticipated spending spree finally kicked in to lift the country's economy in the 2nd quarter of 2017.The Philippines'...
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What's The Big Idea? Carmen's Best Ice Cream: From throwaway product to...
MANILA, Philippines – Paco Magsaysay was helping run his family's cable TV company and wasn't very interested in his father's new business: milking cows. When his father, former senator Jun Magsaysay,...
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#AskTheTaxWhiz: Are you afraid of the BIR?
I have heard a lot of horror stories involving Bureau of Internal Revenue (BIR) examiners. They call you any time of the day or night. Sometimes even your accountant or bookkeeper will convince you to...
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To save the firm, Calata to sell out to Millennium Global
MANILA, Philippines – Calata Corporation plans to spin off its assets and sell an 81% stake in the company to Millennium Global Holdings Incorporated – a move that might save the agriculture firm from...
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Solar files estafa complaint vs ABS-CBN execs over NBA row
MANILA, Philippines – Solar Entertainment Corporation chairman Wilson Tieng filed an estafa complaint against the board of directors and officers of ABS-CBN Corporation for allegedly neglecting...
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Carmen's Best: Discovering Filipinos can and will spend
MANILA, Philippines – Any day now, Paco Magsaysay will move the Carmen's Best ice cream production line from his house, where it has expanded from room to room, to a brand new facility in a Laguna...
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