ANGELICA BALLESTEROS, TMT

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AYALA-led real estate developer Alveo Land said on Tuesday it has successfully launched the first phase of its residential subdivision in Evo City, generating P3.5 billion in sales for the initial 395 lots of the subdivision. In a statement, Alveo said it sees Evo City as the next Central Business…

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LISTED real estate developer Filinvest Land, Inc. said on Tuesday it has commenced construction of its condotel project the Fora Rotunda Tagaytay. The project is a 5.2-hectare master-planned townscape project envisioned to be the newest exciting destination in Tagaytay. The Fora features the Life Mall, designed to be one of…

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PHILIPPINE shares rebounded to the 7,800 level as bargain hunters scouted for oversold issues in the aftermath of the ups and downs in recent weeks, analysts said on Monday. The bellwether PSEi gained 0.50 percent or 38.95 points at 7,806.57. The wider All Shares rose 0.45 percent or 20.68 points…

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A SWITZERLAND-based private markets investment manager is acquiring Pangilinan-led business process outsourcing (BPO) company SPi Global for $330 million, PLDT Inc. said in a statement on Monday. The company is being acquired from CVC Capital Partners Asia III and PLDT Global Investments Corp., an indirect subsidiary of PLDT Inc. PLDT,…

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DAVAO-BASED Udenna Corp. is selling 25 percent of the outstanding total stock of its listed subsidiary Phoenix Petroleum Philippines, Inc. to ES Consultancy Group, Inc. (ESGI) for P4 billion, through a special block sale in the equity market. “We welcome another partner in steering Phoenix Petroleum to a higher path.…

SHARES OUTLOOK FOR THE WEEK:

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SHARE prices are likely to trade sideways this week as investors settle their accounts ahead of two initial public offerings (IPOs) after this week. Harry Liu, president of Summit Securities Inc., said the market will be on the lookout for positive catalysts to move the market this week. “For now,…

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LISTED mining firm Oriental Peninsula Resources Corp. said it is planning to increase its nickel ore export operations with a target of adding 20 more vessels for a total fleet of 30. This is in line with the company’s vision to be aggressive in financially supporting its subsidiary Citinickel Mines…

FROM P55M NET INCOME A YR-EARLIER

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BENGUET Corp., the country’s oldest mining firm, said on Friday it incurred a net loss of P18.6 million in the first quarter of 2017, reversing the P55 million net income booked in the same period last year, due to a decline in nickel revenues. In a financial report, Benguet Corp.…

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PHILIPPINE shares slumped on news that the economy grew slower than expectations and as US markets traded on a weak note overnight. The benchmark PSEi declined by 0.88 percent or 68.84 points to close at 7,757.69. It declined by more than 1 percent during the morning session. The wider all…

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OFF-GRID power producer DMCI Power Corp. announced on Thursday it has partnered with Masbate Electric Cooperative (Maselco) to replace reclosers in the distribution line feeders located in the towns of PV Corpuz, Magsaysay, Buenavista and Mobo in Masbate to avert power outages. Reclosers are circuit breakers that automatically switch off…

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