AEV to raise up to $400M for offshore expansion

Tapping the foreign market for the first time, Aboitiz Equity Ventures Inc. (AEV) raised USD400 million through the issuance of fixed-rate, US dollar-denominated Regulation dollar-only senior unsecured notes by its wholly-owned subsidiary, AEV International Pte Ltd.

The notes will be listed on the Singapore Stock …

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Duty Free PH doubles growth rate in 2019

Duty Free Philippines Corporation (DFPC) doubled its year-on-year sales growth to 4 percent in 2019 compared to 2 percent the previous year.

DFPC maintained its strong growth trajectory as the agency's consolidated sales reached more than USD226 million in 2019 from USD217 million in 2018.…

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Region 8 tourism roads get PHP1.03-B outlay

The national government has approved a PHP1.03-billion fund to finance the construction of roads leading to tourist destinations in Eastern Visayas in 2020, more than double than last year's allocation.

The Tourism Road Infrastructure Program (TRIP) will provide funding to 29 new and ongoing road …

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HSBC exec eyes 2020 GDP at 6.4%

An official of banking giant HSBC forecasts better output for the Philippine economy this and next year, with output seen at 6.4 percent and 6.5 percent, respectively, making the country among the best in the world.

In a briefing on Tuesday, HSBC managing director and …

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Power coop asks typhoon-hit consumers to be patient

Top officials of electric cooperatives in Eastern Visayas have asked power consumers to be patient and stop making harsh comments against linemen tasked to restore electricity damaged by Typhoon Ursula (Phanfone).

Electric cooperatives managers said they understand the predicament of member-consumers, however, making or posting …

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Peso stays afloat, stocks slid

Geopolitical concerns on the Middle East continue to worry investors, resulting in the weakness of Philippine equities index but the peso was able to stay firm against the US dollar.

The local currency finished the week's first trading day at 50.93 from 51.09 close at …

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Food waste reduction to spur economic growth pushed

MANILA�The chairperson of the House Committee on Economic Affairs on Thursday highlighted the role of food waste reduction in spurring economic growth and improving agricultural production.

Citing the recently published 2019 State of Food and Agriculture Report by the Food and Agriculture Organization, AAMBIS-OWA Party-list …

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