Robinsons Land News
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Japanese billionaire Kazuo Okada faces a U.S. Federal Bureau of Investigation probe, adding to a Philippines justice department inquest into how he got a casino permit, the chairman of the Asian nation’s gambling authority said in an interview.
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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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Billionaire John Gokongwei will become a partner of Japanese pachinko magnate Kazuo Okada to build a Manila casino, projected to cost more than $2 billion in what would be the biggest such investment in the Philippines.
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Asian stocks rose, with the regional benchmark index heading for its longest streak of gains in three years, amid speculation the Federal Reserve will step up monetary easing. South Korean shares closed higher even after North Korea launched a rocket.
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Emerging-market stocks rose for a sixth day and price swings in the benchmark index fell to the lowest level since 2005 on speculatation the Federal Reserve may extend measures to boost the world’s largest economy.
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Asian stocks rose, with the regional benchmark index extending its longest rally in more than three years, as Japanese exporters advanced after the yen touched an almost nine-month low versus the dollar.
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Wynn Resorts Ltd., the casino company controlled by Chairman Stephen Wynn, sought to remove Japanese billionaire Kazuo Okada from its board, the latest volley in a feud between the two former partners.
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Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.
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