Business

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LISTED Phoenix Petroleum Philippines Inc. announced it has completed and the acquisition of Petronas Energy Philippines, Inc. (PEPI), a step closer to expanding its liquefied natural gas (LNG) portfolio. The independent oil distributor told the Philippine Stock Exchange (PSE) on Tuesday that it and PDB (Netherlands) B.V. have completed and…

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LOPEZ Holdings Corp. said net income attributable to equity holders of the parent dropped 34 percent to P1.76 billion in the first half of the year from last year’s P2.67 billion due to one-off losses and the absence of one-off gains at its associate. Unaudited consolidated revenues increased by 17…

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LOPEZ-OWNED First Gen Corp. recorded a consolidated net income of $101.1 million (P5.2 billion) in the first six months of the year, down 37.6 percent from $162.14 million (P8.33 billion) in 2016. First Gen, in a disclosure to the Philippine Stock Exchange on Tuesday, reported that net income attributable to…

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Listed PHINMA Energy Corp. (PHEN) reported a net income of P298 million for the first six months of the year, down 45 percent from P541.5 million last year, on lower electricity prices. The company told the local bourse on Tuesday that net income attributable to equity holders of the parent…

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Dell EMC, a part of Dell Technologies, introduced on Tuesday its newest portfolio of servers to engage businesses of all sizes and fuel their information technology (IT) initiatives. Its newest offering, the new PowerEdge 14th generation servers, is said to be the bedrock of “modern data center” that even small…

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FLAG carrier Philippine Airlines said late Monday it will offer nonstop flights from Manila to Auckland thrice weekly starting December 6 this year. PAL currently flies to Auckland but with a stopover in Cairns, Australia. The airline said it will continue to operate its Manila-Auckland via Cairns route until December…

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BEIJING: Trade tensions between the United States and China heated up on Tuesday as Beijing warned that it “will not sit idle” if a US probe into its intellectual property practices leads to sanctions. President Donald Trump’s decision to order the investigation comes on top of strains between the two…

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SHANGHAI: Facebook’s sneaky launch of a photo-sharing app in China, where its social network is banned, gives it a small taste of the massive market’s potential, but it may have to settle for just that for now. The US tech giant acknowledged last week that it was behind the Colorful…

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SAN FRANCISCO: A bitter fight over control of Uber has intensified in recent days with warring factions battling over the future role, if any, of ousted chief executive Travis Kalanick at the global rideshare titan. On Monday, a major investor fired off a message to Uber employees explaining why it…

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NEW YORK: Shares of Fiat Chrysler Automobiles surged Monday following a report that it is being targeted for a possible takeover by multiple Chinese companies. US-traded shares of FCA were up 8.3 percent at midday at $12.57 after the trade publication Automobile News reported that Chinese companies were eyeing Fiat…