Companies

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THE Philippine Competition Commission has approved Clark Global City Corp.’s (CGCC) plan to acquire the entire shares in GGDC Holdings, which is developing a 177-hectare land within the Clark Civil Aviation Complex in Clark Freeport Zone in Pampanga into a logistics hub. In a decision released to the media late…

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PROPERTY developer Ayala Land, Inc. said on Friday that an aggregate amount of P8.05 million out of the P3 billion Homestarter Bonds that were issued and listed on the Philippine Dealing and Exchange Corp. in October 2016 has been retired. In a disclosure to the Philippine Stock Exchange (PSE), ALI…

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LISTED holding firm A. Soriano Corp. (Anscor) has sold its 93.55 percent stake in US staffing firm Cirrus Medical Staffing, Inc. (CMSI) for $36.85 million (P1.9 billion) to realize investment. In a disclosure to the Philippine Stock Exchange on Friday, Anscor said the transaction was made through its wholly-owned British…

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YOKOHAMA: Nissan said Thursday it was suspending all production destined for the local market, as Japan’s number-two automaker grapples with a mounting inspection scandal that has already seen it recall some 1.2 million vehicles. The announcement comes weeks after the company admitted that staff without proper authorization had conducted final…

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LISTED tugboat services provider Harbor Star Shipping Services Inc (TUGS) announced on Thursday that its board had approved the acquisition of 60 percent of an energy group based in General Santos City. The purchase will be made through TUGS’s wholly-owned subsidiary Harbor Star Energy Corporation (HSEC), which is engaged in…

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Low-cost carrier Cebu Pacific announced on Friday that it had made Laguindingan Airport in Misamis Oriental, Mindanao its seventh hub of operations. “What was originally the 4th destination launched back in 1996, is now a hub. It follows the path of Manila, Cebu and Iloilo, [which are] also hubs,” Cebu…

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HONG KONG: Asian and European markets rose on Friday, with Japan’s Nikkei clocking up a record-equalling 14 straight wins, while the dollar also rallied on hopes for Donald Trump’s tax cut plans. A succession of strong earnings and economic indicators has fuelled optimism on trading floors in recent weeks, with…

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LISTED diversified firm Pryce Corp.‘s consolidated net income for the first nine months of the year increased 32 percent, driven by strong sales in its liquefied petroleum gas (LPG) business. Consolidated net income reached P942.69 million as of end-September from the P712.49 million registered in the same period last year.…

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RAZON-led ports operator International Container Terminal Services Inc. (ICTSI) is spending $22 million ($1.13 billion) for the purchase of 16 hybrid rubber tired gantries to expand the capacity of Manila International Container Terminal (MICT). The purchase is part of the ICTSI’s $80 million capital equipment program for MICT. “The new…

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US-BASED remittance firm Western Union is targeting more partnerships to strengthen its position in the money forwarding segment in the country. Jeffrey Navarro, Western Union country director, said the company is still on the lookout for more partnerships with other companies to expand its network nationwide and make it easier…

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