Should a new crisis erupt on world markets, non-US banks will struggle to cover their debts, which have increased since the global financial crisis, the International Monetary Fund (IMF) warned Friday. And despite efforts to shore up the US banking system – in some cases because of those reforms – the surge in liabilities denominated in US dollars could make the banks’ home ec...
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VILLAR-LED Vista Land & Lifescapes, Inc. (VLL) is planning to raise as much as P40 billion from the domestic bond market, as it ramps up the expansion of its residential and commercial projects. The listed property developer told the stock exchange yesterday it has filed an application with the Securities and Exchange Commission (SEC) for the shelf registration of fixed-rate retail bonds am...
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8990 Holdings, Inc. has paid the P27.11 million fine imposed by the Philippine Competition Commission (PCC) after its subsidiary Urban Deca Homes Manila Condominium Corporation was charged with abuse of dominance. Marking the country’s first abuse of dominance case, Urban Deca Homes was found to have imposed its in-house internet service provider (ISP) Fiber to Deca Homes on unit owners a...
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MANILA, Philippines — Federal Land, the property development arm of the Ty-led GT Capital Holdings Inc., is putting up The Grand Midori along Exchange Road in Ortigas Center, the second iteration of the brand in the country following the success of first The Grand Midori in Makati. The two-tower high-rise development will offer prime living spaces exemplifying craftsman-like, elegance, an...
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MANILA, Philippines — Phinma Energy Corp., to be renamed AC Energy Philippines Inc., is eyeing to borrow up to P15 billion to fund investments. In a disclosure to the Philippine Stock Exchange yesterday, the board of Phinma Energy approved the availment of term loan facilities for up to P15 billion. The borrowing will be used “to fund new investments,” Phinma Energy preside...
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MANILA, Philippines — More than 1.5 million pensioners of the Social Security System (SSS) may now borrow up to P200,000 from the state pension fund under its Enhanced Pension Loan Program (PLP), a top official said yesterday. In a statement, SSS president and chief executive officer Aurora Ignacio said they launched the enhanced PLP pursuant to Social Security Commission (SSC) Resolution...
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