James Lago News
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The Philippine central bank is reviewing property loans data to determine whether cooling measures are needed to avert a bubble, Deputy Governor Nestor Espenilla said in an interview.
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The Philippine central bank will keep the option of another cut in the rate it pays for funds in so-called special deposit accounts, Governor Amando Tetangco said three weeks before the next policy meeting. The peso fell.
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Globe Telecom Inc. may collaborate with Lopez Holdings Corp.’s broadcasting unit ABS-CBN Corp. as the Philippines’ second-largest mobile-phone company seeks to add media content to boost wireless usage by its subscribers.
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Billionaire Leon Black’s Apollo Global Real Estate is selling its controlling stake in five office towers in one of Manila’s prime business districts, according to two people familiar with the matter.
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SM Investments Corp., Philippine billionaire Henry Sy’s holding company, climbed to a record after it said it may merge its property units, which could unseat Ayala Land Inc. as the nation’s largest developer.
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Philippine stocks fell, dragging the benchmark index to its biggest loss in almost seven weeks, after valuations climbed to a record.
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Philippine Long Distance Telephone Co., the nation’s biggest company by market value, rose to the highest in about five years after agreeing to sell a controlling stake in its outsourcing unit to CVC Capital Partners Ltd.
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Philippine stocks fell from a record as a rally in the nation’s benchmark stock index drove valuations to a nine-year high and after data showed exports missed estimates.
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Philippine stocks dropped, with the benchmark index slumping the most since Aug. 24, as investors speculated recent gains were overdone. The peso declined.
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Robinsons Land Corp. rose to a record in Manila trading after the Philippine Daily Inquirer said the developer is close to reaching an agreement with Japanese billionaire Kazuo Okada on a casino venture in Manila.
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