Housing developers are batting for an increase in the ceiling of economic and socialized housing to keep up with rising cost of land acquisition and project development, according to Marcelino Mendoza, chairman of the Organization of Socialized Housing Developers of the Philippines (OSHDP). Mendoza in an interview said the National Housing Task Force is deliberating initially on the threshold o...
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Mang Inasal is as familiar to Filipinos as any other fast food chain. But did you know that it was only founded in 2003? Then, just seven years later, Jollibee Foods acquired 70 percent of the company for P3 billion. Last year, Jollibee acquired the remaining 30 percent for P2 billion. The man behind this great success is Edgar “Injap” Sia II, who built the first Man...
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From being a maintenance boy in his uncle’s supermarket, Dennis Anthony Uy rose to become the founder of Converge ICT Solutions, one of the Philippines’ largest operators of high-speed internet. Like the rags-to-riches life story of Henry Sy Sr., Dennis’ family also migrated to the Philippines from China in 1978. He was 11 years old when he arrived in the country, along with h...
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DESPITE the effect of rising fuel costs on consumer demand, the new chief of the central bank is optimistic that the Philippine gross domestic product (GDP) growth would reach at least the lower end of the government's objective this year. "It will be difficult to match 8.3 percent [economic growth] in the first quarter because of higher base effects. But at the same time, I...
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Iloilo City residents will soon enjoy a stable source of clean energy with ultra bilyonaryo Enrique Razon-led More Electric and Power Corp. signing a 20-megawatt (MW) mid-merit supply from Energy Development Corp. The five-year power supply deal, which starts on July 25, will come from EDC’s Unified Leyte Geothermal Power Plant, one of the company’s most extensive geothermal facilit...
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MANILA, Philippines — As the global economy climbs out of the COVID-19-induced slowdown, investors are discovering new gems in the Asian property landscape, which has seen tectonic shifts in the aftermath of the pandemic. Foremost among these is the Philippines, site of a landmark project by two leading property developers in the region: Hongkong Land and Robinsons Land Corporation. Drawi...
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