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Companies

Ayala group profit rose 11% to P19.6B in 9 months

Ayala Corp. (AC) posted an 11 percent increase in net income to 19.6 billion for the first nine months buoyed by the strong equity earnings from Ayala’s business units which amounted to 23.6 bil­lion, which was 10 percent higher than a year ago.

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JG Summit’s P30-B debt float gets prime rating

The Philippine Rating Services Corp. (Phil­Ratings) has given the highest quality rating of PRS Aaa on the P30 billion bond float of con­glomerate JG Summit Holdings Inc. (JGSHI) which produces top brand snack foods and beverages aside from being a developer of malls and condominiums.

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Local manufacturers seen to benefit from trade deal

Local industries are ex­pected to benefit from the Japan-Philippines Industrial Coopera­tion Initiative forged by the trade and industry depart­ments of Manila and Tokyo.

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Shell gains P2.50 after bourse debut

By Riza Lozada The price of freshly-listed Pil­ipinas Shell Petroleum Corp. shares closed strong on Friday, rising P2.50 to P69.50 each from its initial public offer (IPO) debut of P67 despite the market being at an oversold level.

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Century unit acquires Kamayan’s US business

Century Pacific Food Inc. (CNPF), through unit Centu­ry Pacific Seacrest Inc., recent­ly acquired the license to the Kamayan trademark for North America.

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AboitizLand earmarks P4B for shelter projects in 2017

AboitizLand, the property de­veloper unit of Aboitiz Equity Ventures (AEV), plans to un­dertake five housing projects next year worth about P4 bil­lion located outside Metro Manila, riding on the growth of residential property market.

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Benguet to sue DENR on suspension order

By Riza Lozada The country’s oldest mining firm Ben­guet Corp will seek a court injunction on the Department of Environ­ment and Natural Resources’ (DENR) refusal to lift a sus­pension order imposed on its mining operations in Sta. Cruz, Zambales.

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Moto eyes replacement market for Philippine revenues

Intense competition in the smartphone market as a re­sult of the proliferation of low-cost units, mainly from China prompted Moto, for­merly Motorola, is seeking to change the equation through the offering of high-quality phones within reach of Fili­pino consumers through tie-ups with phone companies.

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Strong ads growth boosts ABS-CBN income to P2.8B

Broadcast giant ABS-CBN Corp. reported a consolidated revenue of P31.1 billion for the first nine months boosting its net income by 50 percent to P2.85 billion compared to the same period last year.

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Holcim profit grew 15% to P1.76B in 3rd quarter

Listed building equipment supplier Holcim Philippines posted a 15.3 percent jump in net income to P1.76 billion for the third quarter from a P1.53 billion profit a year ago.

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