ANGELICA BALLESTEROS, TMT

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The government recorded a P28.8-billion budget surplus in August on the back of double-digit revenue and expenditure gains, the Treasury bureau said on Friday. Revenues for the month of August totaled P230.4 billion, up 10 percent year on year and pushing the eight-month tally to P1.6 trillion, which was also…

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DUAL listed fruit canner Del Monte Pacific Ltd. (DMPL) announced on Friday that its US subsidiary Del Monte Foods, Inc. (DMFI) had sold its Sager Creek vegetable business in the US for $55 million, in line with its goal to focus on its core business. DMFI sold its Sager Creek…

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LISTED mass housing developer 8990 Holdings, Inc. is planning to raise up to P5 billion from the issuance of perpetual preferred shares. 8990 said its Board of Directors ratified on Thursday the company’s plan to issue 50 million unissued non-voting, non-convertible, non-participating, redeemable, perpetual preferred shares with a par value…

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It’s “business as usual” for Toys “R” Us in the Philippines despite the retailer’s filing for bankruptcy in the United States, the local franchise holder said. “All stores are open for business and continue to offer a wide assortment of toys and merchandise for kids,” Robinsons Retail Holdings. Inc. (RRHI)…

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LISTED property developer Cebu Landmasters, Inc. (CLI) will spend an additional P10.61 billion to develop several more projects in the Visayas and Mindanao for the remainder of the year. This is on top of the P7.09-billion programmed projects already launched in the first half, bringing the total capital expenditure to…

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MEGAWORLD Corp.’s wholly-owned subsidiary Global Estates-Resorts Inc. (GERI) said on Thursday it was allocating P4.5 billion over the next four years to accelerate projects in its 1,200-hectare township development in Tagaytay City. The company said land development of residential villages, condominiums, hotel, and the expansion of commercial and leisure developments…

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Renewed bargain-hunting lifted the Philippine share prices on Wednesday with investors still awaiting news from policy meetings by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The benchmark Philippine Stock Exchange index (PSEi) rose by 0.69 percent or 56.62 points to settle at 8,219.32. The broader All…

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MRC Allied Inc., a listed property developer diversifying into energy, said on Monday that it was acquiring a 15-percent stake in Sulu Electric Power and Light Philippines, Inc. (Sepalco) for $5 million or P254.66 million. Sepalco operates a 50-megawatt plant located in a 70-hectare property in Palo, Leyte, which has…

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CASUAL dining Max’s Group, Inc. is expanding its footprint in Canada after entering into a partnership with Canada-based Alibin Group, Inc. to establish the first Max’s Restaurant in Winnipeg. “We welcome the opportunity to once again serve distinct flavors of home to our countrymen based in Canada. We will strive…

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ANDREW TAN-led conglomerate Alliance Global Group, Inc. (AGI) said on Tuesday it would buy back up to P5 billion worth of shares over the next two years as its shares are “grossly undervalued.” “We are undertaking this corporate action because we believe that our shares are grossly undervalued,” Alliance President…

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