LISTED conglomerate Ayala Corp. announced on Thursday it has completed the acquisition of a significant stake in BF Jade E-Services, Inc., which owns the online fashion retailer Zalora. Ayala Corp. said it has acquired over 269 million shares, equivalent to a 43.28 percent stake in BF Jade, while Ayala Land Inc. (ALI) in a separate […]
Read MoreMANILA, Philippines – The Philippine Economic Zone Authority (PEZA) has decided to pre-qualify the proposed projects involving alleged “notorious Taiwanese fugitive swindler” You-Hao Chen. Director general Charito Plaza said PEZA has granted in late July pre-qualification clearance to First Pangasinan Industrial Corp.’s planned mixed-use economic zone in Pangasinan. First Pangasinan is a 60 percent Filipino […]
Read MoreMANILA, Philippines – Investment pledges approved by the Philippine Economic Zone Authority (PEZA) continued to rise significantly, buoyed by optimism on the current administration and the country’s sound economic fundamentals. PEZA director general Charito Plaza said yesterday projects approved by the agency soared 89.4 percent in the seven months to July to P132.66 billion from […]
Read MoreMANILA, Philippines – Philippine power rates remain one of the highest in Southeast Asia as of end-2016 due to continued lack of government subsidies, latest Department of Energy (DOE) data showed. Based on the Power Development Plan 2017 to 2040 released yesterday, the country’s power rates are among the highest in the region, at par […]
Read MoreMANILA, Philippines – Debt prepayments by Philippine borrowers including the national government rose 35.1 percent in the first four months, resulting in the further weakening of the peso against the dollar, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Prepayments on foreign debt by public and private firms reached $2.01 billion from January to April, […]
Read MoreDue To Rising Cost of Business MANILA, Philippines – Korean manufacturing companies in the Philippines are packing up and leaving the country for Vietnam where they see lower costs and an easier way of doing business. Korean Chamber of Commerce of the Philippines president Ho Ik Lee said many Korean firms have been complaining about […]
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