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PSE remains 'cautiously optimistic.'
With 2020 and its volatile economy behind us, the Philippine Stock Exchange (PSE) is “cautiously optimistic” for a more hopeful 2021 as it eyes at least three initial public offerings (IPO) and four real estate investment trusts (REIT) for the new year.“For ...
 
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Rookie entrepreneur bags grand prize.
What were you doing at 25? Because entrepreneur Pearl Janine de Guzman just won the P1 million grand prize in the debut season of AXN and Go Daddy’s startup show Project Go.At just 25, de Guzman bagged the top prize after a ...
 
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Filipino innovation proved resilient this year.
It’s been a tough year for many companies, but over 15 Philippine startups have still managed to raise $183.8 million (P8.85 billion) in investments from the first half of 2020 alone.This is according to Foxmont Capital Partners’ inaugural Philippine Venture Capital Report.The first ...
 
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MadEats is led by an all-female team.
After Filipino food startups CloudEats and Kraver’s Canteen secured major investors, MadEats is the latest cloud kitchen to bag an undisclosed investment. The Manila-based startup received a pre-seed investment from no less than the co-founder of Tinder, Justin Mateen, along with Luis Sia, ...
 
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The tender offer period will begin on January 22
After 27 years on the local bourse, Lopez Holdings has announced the holding company has filed for voluntary delisting from the Philippines Stock Exchange (PSE).According to a statement from Lopez Holdings, this move is necessary to “consolidate the ownership of Lopez Holdings ...
 
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Voyager, Edukasyon, and PayMongo are among the top 20.
The Philippine startup ecosystem is one of the world’s rising stars, ranking 36th in emerging markets by Startup Genome. Metro Manila’s ecosystem alone is valued at a whopping $1.6 billion (P77 billion), and Foxmont Capital Partners estimates that between 2018 to 2020, ...
 
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Philippine Airlines is looking for a way out of this mess.
With billions owed to creditors, Philippine Airlines is reportedly seeking court protection as it restructures its operations to deal with its losses and unpaid debts.According to a report by Nikkei Asia, the airlines plans to return 20 leased aircraft worth $1 billion in ...
 
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It's well-positioned to weather pandemic challenges.
Gokongwei-led JG Summit Holdings returned to profitability in the third quarter on the back of its strong food, banking, and office business segments. The conglomerate said Friday it was well-positioned to face further challenges from the COVID-19 pandemic.JG Summit posted consolidated net income of P844 million in ...
 
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Long story short: Dito CME will be the indirect majority owner of Dito Telco.
Dito CME Holdings, the digital multimedia arm of tycoon Dennis Uy’s empire, is acquiring a stake in Dito Telecommunity, the newly minted third telco in the Philippines, which is also owned by Dennis Uy. The acquisition is part of a share-swap deal ...
 
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This is the second-worst quarterly contraction on record.
The worst is over for the Philippine economy, said Karl Chua, acting secretary of Socioeconomic Planning and the National Economic and Development Authority (NEDA).In a virtual briefing, NEDA’s chief announced that the Philippine GDP contracted by 11.5 percent in the third quarter, ...
 
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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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