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Share prices close higher

Philippine stocks Thursday surged, bringing the measure closer to the 7,200 level. But analysts remained cautious as they noted challenges here and abroad, which had not yet been factored into domestic valuations.

Posted: October 31st, 2014 in Editor's Pick,Headlines | Read More »

Ayala raises P13.5B via shares sale

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Conglomerate Ayala Corp. raised P13.5 billion through the sale of preferred shares, with proceeds to be used to refinance debts as the company seeks to expand its infrastructure and power portfolios.

Posted: October 31st, 2014 in Headlines | Read More »

Nokia in $950 million Q3 profit on growing sales

This Feb. 8, 2012, file photo shows the Nokia offices in Salo, Finland. Nokia Corp. will lay off 10,000 jobs globally and close plants by the end of 2013, the company said Thursday June 14, 2012, in a further drive to save costs. The cuts mean that it will close some research and development projects, including in Ulm, Germany, and Burnaby, Canada.  AP PHOTO/LEHTIKUVA, JUSSI NUKARI

Nokia Corp. appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. Sales growth was 13 percent compared to 2013.

Posted: October 23rd, 2014 in Latest Business Stories | Read More »

Union Bank gets BSP nod to triple capital

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unionbank

Union Bank of the Philippines has obtained approval from the Bangko Sentral ng Pilipinas (BSP) to triple its authorized capital to P23.1 billion in line with the bank’s goal to become one of the country’s top three banks by 2020.

Posted: October 20th, 2014 in Latest Business Stories | Read More »

PSE suspends trading in Chemrez shares

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AP FILE PHOTO

The Philippine Stock Exchange suspended trading in shares of Chemrez Technologies Inc. on Friday following the completion of a tender offer made by food and plastic input manufacturer D&L Industries which made the former a 99-percent owned subsidiary.

Posted: October 10th, 2014 in Latest Business Stories | Read More »

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