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Banking, property, energy subsidiaries lift Ayala income to pre-pandemic level

Corporate Context.ph Context.ph -
Ayala Corp., one of the country's largest listed conglomerates, said Tuesday its nine-month net income surged 35 percent year-on-year to P32.3 billion, buoyed by strong results from its banking, property development, power generation as well as gains from the sale of MCX toll road.

Metrobank supports ACEN renewable energy expansion program with P5B loan

Banking & Insurance Context.ph Context.ph -
Metropolitan Bank & Trust Co. (Metrobank), one of the country’s largest, has signed a P5 billion loan with ACEN, the listed energy platform of the Ayala group, to fund renewable energy expansion projects across the country.

Six bidders vie for 1,800 MW Meralco requires by December next year

Energy & Mining Context.ph Context.ph -
Six power generation companies want a piece of the 1,800 megawatts of electricity that the Manila Electric Co. (Meralco) is sourcing under an ongoing competitive selection process or CSP.

MPIC remains keen on acquiring agri firm Axelum

Agriculture Context.ph Context.ph -
Metro Pacific Investments Corp. remains interested in acquiring coconut product manufacturer Axelum Resources Corp. although the business failed to achieve its own performance targets, extending the discussion of its acquisition in the process.

Dubai to showcase demand for jets under shadow of Mideast tensions

Transport & Logistics Reuters Reuters -
Dubai will stage its high-profile aerospace pageant next week against the backdrop of the Israel-Hamas war in Gaza that is pushing up demand for weapons while closing airspace and making flights longer and more expensive for some airlines.
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Monsoon rains dampen 7-Eleven sales; company eyes long-term growth amid challenges 

Corporate 0
Philippine Seven Corp. (PSC), the operator of 7-Eleven convenience stores in the country, has reported a significant dip in sales, by as much as 20 percent, attributed to the incessant monsoon rains experienced over the past two weeks. Despite a strong performance up until July, bolstered by its annual "7-11 day" promotion, the company acknowledges the sensitivity of its sales to adverse weather conditions.

Habagat, TCs Luis & Maymay damage to agriculture sector reaches P1.42B

Agriculture 0
The Department of Agriculture (DA) reported a P1.42 billion damage to the agriculture sector due to the enhanced southwest monsoon (Habagat) and Tropical Cyclones Luis and Maymay, as of August 17. This figure rose from P1.03 billion earlier that day.

BPI eliminates corporate PESONet fees via BizLink to drive business efficiency

Banking & Insurance 0
To boost business operations and lower digital transaction hurdles across the country, the Bank of the Philippine Islands (BPI) has waived all PESONet transfer fees for payments processed through the Pay Non-BPI disbursement feature on its corporate platform, BPI BizLink.

TD SYNNEX expands IBM distribution footprint across Asia Pacific, Europe and Latin America

Communications & Technology 0
Tech Data, a TD SYNNEX company and leading global IT solutions distributor, has announced the expansion of its IBM distribution network. The initiative covers 20 new markets across Asia Pacific, Europe, and Latin America. In the Asia Pacific region, the expansion adds six new markets – Hong Kong, Macau, Malaysia (operating under the Tech Data brand there), Indonesia, Cambodia, and the Philippines. This builds on the company’s existing IBM operations in Australia, India, Singapore, and Vietnam, bringing the total number of APJ markets supported to ten.

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