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  • Investors shrug off terror attacks in Southeast Asia, for now

    MANILA/JAKARTA -- Investors in Asia have shrugged off terror attacks in Indonesia and the Philippines this week, but authorities are struggling to prevent further attacks and protect soft targets.MSCI's broadest index of Asia-Pacific shares outside

    May 26, 2017 01:31 am JST
  • ICTSI abandons Nigeria port project

    MANILA -- International Container Terminal Services has walked away from a port contract in Nigeria due to prolonged delays of the project.The Philippine firm's Nigerian unit and Lekki Port LFTZ Enterprise, the project's promoter, have mutually agre

    May 25, 2017 11:45 pm JST
  • Policy upheavals buffet mining in Philippines, Indonesia

    SANTA CRUZ, Philippines/JAKARTA -- In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community's health.Until the national government ordered a suspension of operations in 2014 o

    May 25, 2017 04:08 pm JST
  • Asian companies shine in Forbes Global 2000

    TOKYO -- Chinese banks topped the list and a slew of Asian corporations were featured in the Forbes Global 2000 ranking of the world's largest and most powerful public companies, reflecting the region's growing economic clout.Industrial and Commerci

    May 25, 2017 02:30 pm JST
  • Policy upheavals buffet mining in Philippines, Indonesia

    SANTA CRUZ, Philippines/JAKARTA In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community's health.Until the national government ordered a suspension of operations in 2014 over

    May 25, 2017 10:00 am JST
  • Mining companies face tough decisions despite the industry's rebound

    SYDNEY Big international mining companies like BHP and Rio Tinto made it through the crash in global commodity prices by slashing costs, shedding less productive units and taking full advantage of the economies of scale their vast operations provide

    May 25, 2017 10:00 am JST
  • Cebu Air cuts Middle East frequencies

    MANILA -- Philippine low-cost airline Cebu Air is halting flights to Kuwait, Qatar, and Saudi Arabia, after increased rival capacity severely damaged its business.The company, which operates Cebu Pacific Air, will fly its last four-times-weekly Mani

    May 24, 2017 11:20 pm JST
  • Asia's star stocks on an upswing despite 'Trump shock'

    TOKYO -- Despite turmoil in the global financial markets over allegations of U.S. President Donald Trump's ties to Russia, stocks in emerging Asian economies, particularly India, Indonesia and the Philippines, seem to be performing as strongly as ev

    May 22, 2017 08:00 am JST
  • Alfamart operator to expand chain in Philippines

    JAKARTA -- Sumber Alfaria Trijaya, operator of Alfamart convenience stores in Indonesia, plans to add up to 200 units in the Philippines this year that will nearly double its presence there.SAT began its Philippine business in 2014 with a 35% stake

    May 18, 2017 10:47 pm JST
  • Mobile payments going viral in Southeast Asia

    BANGKOK -- For a region that has lagged behind the rest of the world in terms of the number of credit cards and banking accounts, Southeast Asia has made remarkable strides toward a cashless society through the use of smartphone payments.Spreading l

    May 17, 2017 11:00 am JST
  • Philippines' Bloomberry Q1 profit helped by VIP revenue

    MANILA -- Philippine casino company Bloomberry Resorts earned 2.15 billion pesos ($43.32 million) in net profit in the first quarter, reversing from a loss of 1.16 billion pesos a year ago as high-roller visits hit a record.Revenues from its VIP or

    May 15, 2017 09:39 pm JST
  • Looming oversupply pushes nickel price to 10-month low

    TOKYO/HONG KONG -- Wariness over policy changes in two major nickel producing countries, Indonesia and the Philippines, is dragging the price of the metal down to 10-month lows.The risk of oversupply is spreading as Indonesian mining companies resum

    May 15, 2017 06:51 pm JST
  • PLDT net income drops 20% in Q1 as wireless revenue shrinks

    MANILA -- Philippine telecom giant PLDT said Friday its net income in the first three months of 2017 dropped 20% on the year to 4.97 billion pesos ($99.9 million) as wireless revenue kept shrinking and impairment losses from Rocket Internet continue

    May 13, 2017 07:41 am JST
  • Ayala 1Q profit up 20% on real estate, banking

    MANILA -- Ayala Corp., the oldest conglomerate in the Philippines, said on Thursday that net profit in the first quarter was up 20% year on the year to 6.9 billion pesos ($138.5 million).Earnings from banking and property development drove the Janua

    May 11, 2017 10:34 pm JST
  • SM Investments profit growth falls to 8%

    MANILA -- SM Investments, the Philippines' most valuable company, said on Wednesday that net profit in the first quarter went up only 8% to 7.7 billion pesos ($154 million) year on year -- its first single-digit result in five years.The company said

    May 10, 2017 10:24 pm JST
  • San Miguel profit eroded by strong dollar

    MANILA -- San Miguel, the Philippines' largest company by sales, said Wednesday its net income grew by only 2% in the first quarter, dampened by the strong dollar.Excluding foreign exchange losses, net income jumped by 62% to 14.8 billion pesos ($29

    May 10, 2017 09:50 pm JST
  • Philippine real estate giants post strong earnings

    MANILA -- The Philippines' largest real estate companies -- Ayala Land and SM Prime Holdings -- both reported solid first-quarter earnings growth, buoyed by residential sales and shopping center rentals.Ayala Land's net income jumped 18% to 5.56 bil

    May 9, 2017 01:50 am JST
  • Philippines approves giant casino in Cebu

    MANILA -- The Philippine casino regulator has approved the construction of the first integrated resort outside the capital.Philippine Amusement and Gaming Corp. (Pagcor), which also runs its own casinos, granted Udenna Corp. a "provisional license"

    May 4, 2017 08:00 pm JST
  • SM takes control of Philippine dormitory developer

    MANILA -- SM Investments, a leading Philippine conglomerate, has acquired a dormitory developer and entered the rental housing as condominium sales in the capital slow due to a supply glut.SM informed the Philippine Stock Exchange on Monday of its p

    April 24, 2017 10:00 pm JST
  • Ayala chairman mentions rail, real estate overtures from China

    MANILA -- Ayala Corp. has been approached by companies from China about possible joint ventures in real estate and infrastructure -- a sign that the mainland's warming diplomatic relations with the Philippines is starting to bear economic fruit.Jaim

    April 21, 2017 11:55 pm JST