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ICTSI’s Australian unit gets $300M in fresh loans

On July 15, Victoria International Container Terminal (VICT), a unit of local port operator International Container Terminal Services Inc. (ICTSI) signed a syndicated loan facility worth Australian $398 million (approximately $300 million) with seven leading global financial institutions, namely: Citibank N.A., KFW IPEX-Bank, Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners, Bank of China Limited, DBS Bank Ltd., Investec …

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DOLE starts review on subcontracting

The Department of Labor and Employment (DOLE) is now conducting a comprehensive review of subcontracting practices among companies, Labor Secretary Silvestre Bello III said.

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Villar group’s retailer infuses P1.2B into capex

The Villar group’s retail arm All Value Holdings Corp. will invest P1.2 billion as capital expenditure to bring total AllHome appliance and furnishings stores to 20 by the middle of next year, optimistic about growth prospects of the home-improvement business. 

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Vega OKs tender offer for LIB shares

By Riza Lozada
 The board of San Miguel Corp. (SMC) unit Vega Telecom Inc. (VTI) approved the conduct of a voluntary tender offer for all the remaining 165.9-million common shares of listed Liberty Telecom Holdings Inc. (LIB) to comply with bourse requirements for the P70 billion sale of VTI to Globe Telecom and the Philippine Long Distance Telecommunications Inc. (PLDT).
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PSE forecasts P100B in capital raising through IPOs in final half

The Philippine Stock Exchange (PSE) expects a string of initial public offerings (IPOs) to be held in the second half of the year that is expected to raise P100 billion worth of new capital in the equities market.
    

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Deca Homes backs Pony League tourney in Manila

Deca Homes, the premier mass-housing development arm of 8990 Holdings Inc., is supporting the Asia Pacific division championships of the Pony League to be held here beginning July 11.

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Globe defends significance of 700MHz for fast internet

Major communications firm Globe Telecom (Globe) has stressed the need for the added bandwidth it acquired through a recent lucrative deal to improve Internet service in the country.

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Stock index seen to breach 8,000

Share prices rallied above the 7,800-mark amid raised optimism in the business sector after the oath taking of President Rodrigo Duterte and prospects that the United States (US) interest rate hike will be deferred until next year.

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JG Summit buys up 577M shares to increase stake in power-plant operator Global Business

Gokongwei group flagship JG Summit Holdings Inc. (JGSHI) has agreed to purchase 577.2 million shares of Global Business Power Corp. (GBPC) consisting of 423.3 million shares from GT Capital Holdings Inc. and 154 million shares from Manila Electric Co. generation unit PowerGen Corp to expand its exposure in the energy business.

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Pro-reform stance to induce flow of capital –think tank

President Duterte’s pro-reform administration will likely to attract foreign direct investment (FDI) inflows, US-based think-tank IHS Global Insight said. 

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