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If the deal pushes through, Udenna would own the source of 30% of the country's power.
Tycoon Dennis Uy is in the headlines once more, this time for Udenna Corporation’s expressed interest to secure Shell’s 45 percent stake in the Malampaya gas field. Udenna Corp. already owns 45 percent of Malampaya, while the government, through the state-owned Philippine ...
 
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PayMongo is on a roll.
The rising payment platform PayMongo from the Philippines is on a roll. The fintech startup has raised $12 million in a Series A financing, just one year after securing $2.7 million in seed funding. This leaves the total investment so far to ...
 
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For the rookies in the trading scene.
Suck at money? Congrats. You’re part of the 99 percent of people in their 20s floundering when it comes to finance. Adulting is hard, and money is harder—especially when it’s your own and not your parents. My Two Cents is here to ...
 
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RTBs are one way to help the economy recover.
Here's one way to support the Philippine economy fight the effects of the COVID-19 pandemic. The Philippine government has relaunched its retail treasury bonds (RTB) to encourage Filipinos to invest and support the economy.Launched on Thursday, July 16, the “Progreso Bonds” offer ...
 
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Avion School helps Filipinos become software engineers in just 12 weeks.
Tinder co-founder Justin Mateen is leading the pre-seed funding of educational tech startup Avion School, an online platform that will teach Filipinos everything they need to know to become software engineers in only 12 weeks.According to a report by e27, the sum ...
 
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Stocks are now valued at P6.65 apiece.
GMA Network Inc.’s stocks jumped by 10.28 percent on Monday, July 13, the first trading day since ABS-CBN’s application for franchise renewal was rejected by the House committees on legislative franchises on Friday, July 10.Meanwhile, trading of ABS-CBN stocks were suspended earlier ...
 
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The telco is eyeing a P34.8 billion debut.
Pampanga-based telecommunications company Converge ICT is eyeing a $700 million (P34.8 billion) initial public offering, according to a Bloomberg report.Converge has reportedly picked out banks for its blockbuster IPO that could be the biggest stock market debut in the Philippine Stock Exchange’s ...
 
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A rookie in the supermarket scene, MerryMart credits its newfound success to its flexible nature as the underdog.
Pandemic or not, DoubleDragon chief Edgar “Injap” Sia III is having one good year. Sia’s latest brainchild, MerryMart, took off with flying colors when it made its stock exchange debut and bumped up its opening share price by 50 percent. Within two weeks, ...
 
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Marsalek was fired on Monday, June 22.
Jan Marsalek, the recently sacked COO of Wirecard, is reportedly in the Philippines, according to German paper Suddeutsche Zeitung (SZ).More: The Wirecard Scandal: How $2 Billion 'Disappeared' in the Philippines“He is said to be in the Philippine capital of Manila, but is not ...
 
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How does a dismissed government official factor into the equation?
German newspaper Süddeutsche Zeitung has named former Department of Transportation (DOTr) assistant secretary Mark Tolentino as a suspicious figure in the billion-dollar Wirecard scandal. The German fintech story, once a success story on the DAX, made headlines when it reported that 1.9 billion euros ...
 
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The Philippine connection to the billion-dollar Wirecard scandal.
Germany has been hit with one of its biggest financial scandals in years after payment processor Wirecard AG seemingly lost €1.9 billion ($2.1 billion) of cash. Money doesn’t disappear into thin air unless something shady is happening behind the scenes, which is ...
 
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The bond sale broke records on a number of fronts.
PLDT makes a stellar return to the international bond market by getting orders worth over $10.2 billion (P500.5 billion), the largest figure for any Philippine issuer. The final order book was 17 times oversubscribed from the $600 million (P30 billion) of fixed ...
 
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2,000 local businesses have already shut down in the past few months.
The Ayala family’s Bank of the Philippine Islands (BPI) is launching the country’s first COVID Action Response Bonds (CARE Bonds) to raise funds in support of local micro, small, and medium businesses (MSMEs) hit hard by the global pandemic.In a public disclosure ...
 
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Who are the biggest (and most punctual) taxpayers in the Philippines?
BDO Unibank Inc., Robinsons Land Corp., and Meralco lead as the top three taxpaying businesses of 2019. Following the release of the country’s Top 500 Taxpayers (as of May 19), the Department of Finance lauded big businesses for filing income tax returns ...
 
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The trading suspension took effect at 9 a.m. today.
Trading of ABS-CBN Corporation’s shares on the Philippine Stock Exchange (PSE) has been suspended today, May 6, following the cease and desist order (CDO) issued by the National Telecommunications Commission (NTC) yesterday, May 5. ABS-CBN’s broadcasting stations signed off yesterday, 7:52 p.m., after ...
 
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Duterte apologized to the tycoons during an address Monday night.
Following President Rodrigo Duterte’s apology to tycoons Manny Pangilinan (MVP) and brothers Jaime Augusto Zobel de Ayala and Fernando Zobel de Ayala, the stock prices of Metro Pacific Investments Corporation (MPIC), Ayala Corporation (AC), and Manila Water Company, Inc. (MWC) jumped by ...
 
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Essential services stocks remain resilient.
While a number of industries have been hit hard by the pandemic, namely airlines and tourism, one industry has stayed strong: supermarkets and drugstores. Deemed essential, Robinsons Retail Holdings, Inc.’s (RRHI) supermarket and drugstore brands have managed to stay resilient despite the economic ...
 
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The new system takes effect on Monday.
On Monday, May 4, the Philippine Stock Exchange (PSE) will implement its new SEC-approved three-phase circuit breaker system, which will be triggered if the PSE index declines anywhere between 10 percent and 20 percent.According to PSE’s latest circular, the new system will ...
 
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It's the biggest cloud kitchen startup in the country.
Although the country is facing a potential recession, there is still good news to share in the business sector: Philippine startup CloudEats has raised $1.4 million (P70.94 million) in seed funding from angel investors and real estate and food and beverage companies.CloudEats is ...
 
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It secured $120 million from five local and international investors.
Voyager Innovations, the developer behind leading payment platform PayMaya Philippines, has bagged $120 million (P6 billion) in investment commitments from five backers: PLDT, KKR, Tencent, International Finance Corp (IFC), and the IFC Emerging Asia Fund.According a report from Deal Street Asia, the ...
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