The proposed Corporate Income Tax and Incentives Rationalization Act (Citira) will continue to give away tax breaks to priority industries that will generate more jobs and create additional value-added in the economy, the Department of Finance (DOF) said Monday. “We cannot dispute that the many industries receiving incentives have made valuable contributions to the economy and to the Fili...
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Ayala Land, Inc. (ALI) was recognized by Asiamoney as the country’s top company of the 2010’s, along with its parent company Ayala Corporation — having won the most number of awards in this decade in Asiamoney’s corporate-related polls. Asiamoney, a division of leading business and finance publication Euromoney, accorded the special recognition in celebration...
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CEBU, Philippines — Cebu Holdings Inc., (CHI), the developer of Cebu I.T. Park and Cebu Business Park is moving to address the rising demand for shared living spaces in Cebu. The Ayala-led publicly-listed developer announced the construction of its latest project called “The Flats” to meet the growing demand for shared living spaces in the city. The project, which caters to...
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MANILA, Philippines — The Philippine Competition Commission has charged Urban Deca Homes Manila Condominium Corporation and its parent 8990 Holdings, Inc. for abuse of dominance, marking the end of a months-long case against the mass-housing leader and the country's first abuse of dominance case. The case dates back to March 27 when the PCC filed a "statement of objec...
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THE export industry in Cebu has caught itself in a growing business uncertainty, as global trade remains lackluster and the cost of doing business rises. Philippine Exporters Confederation Inc. (Philexport)-Cebu executive director Fred Escalona asserted that if the downward trend continues, “it will be catastrophic” for the export sector not only of Central Visayas but of the countr...
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A Singapore-based arbitration court has ordered the Bloomberry group to pay $296 million to Las Vegas-based Global Gaming Philippines LLC (GGAM)/ The amount was for arbitral award in the case filed by GGAM which claimed that it had been unjustly booted out of the management of Solaire Resorts & Casino in 2013. Bloomberry, however, said it believed the final remedies award was “fund...
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