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Funding commitments for the Metro Manila Subway Project (MMSP) that were signed and exchanged between Japan and the Philippines during the 31st Asean Summit represent just part of the total amount pledged by Tokyo, the Department of Transportation (DOTr) said on Thursday. In a statement, the DOTr said the “exchange…

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THE Securities and Exchange Commission (SEC) should strictly monitor the listed companies’ compliance with the 60-40-percent ownership law. By doing so, it could efficiently implement the regulatory requirements, even for stock corporations that are not listed on the Philippine Stock Exchange (PSE). The 60-40-percent ownership profile should also be reviewed…

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Confidence in revenue growth among business leaders from the 21 Asia-Pacific Economic Cooperation (APEC) member economies currently stands at its highest level in three years. Results of a PwC survey show that 37 percent of APEC CEOs are very confident of revenue growth during the next 12 months, up from…

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I have a son who has been working as a sports trader in a BPO firm since his graduation. The position title is a euphemism of sorts because it actually entails setting the odds on foreign games and taking trades while the game is ongoing. The odds are actively reset…

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SYDNEY, Australia: Conglomerate Metro Pacific Investments Corp. (MPIC) on Thursday said it is planning to spend P653 billion over the next five years to fund the projects of all its subsidiaries. In a news briefing, MPIC Chief Finance Officer David Nicol said that the planned capital expenditure was based on…

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COMMERCIAL real estate developer DoubleDragon Properties Corp. said net income in the first three quarters surged 83.7 percent year-on-year, driven by increased mall rental income. In a filing to the local bourse on Thursday, DoubleDragon said earnings in the period rose to P1.40 billion from the P761 million recorded in…

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LOPEZ Holdings Corp. on Thursday reported a 43 percent decline in net income attributable to equity holders of the parent for the first nine months of this year due to one-off losses and the absence of one-off gains at an associate. It said net income attributable to equity holders of…

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LISTED Basic Energy Corp. said on Thursday that it would continue exploration work in certain areas in Mindoro. Basic Energy told the local bourse that for 2017, the company “will continue with its business in oil and gas exploration, being a party, together with other exploration companies, to a service…

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HIGH-END property developer Anchor Land Holdings, Inc. reported a consolidated net income of P453.14 million in the first nine months of the year, up 11 percent from a year ago, on strong real estate sales and rental income. The company said real estate sales, which account for 89 percent of…

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Pangilinan-led PXP Energy Corp. incurred a lower consolidated net loss of P34.2 million in the first nine months of the year from last year’s net loss of P38.5 million, thanks to higher foreign exchange gains and lower group overhead, offset by higher petroleum production costs. As a result, it said…

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