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The Rappler Philippines

Philippine Daily Inquirer

  • Robust e-games buoy Pagcor earnings  

    MANILA, Philippines — The Philippine Amusement and Gaming Corp. (Pagcor) saw its earnings more than double in 2024 as revenues hit a new record high on the back of robust collections from the electronic games (e-games) sector. In a statement on Thursday, Pagcor said its net income had grown to P16.76 billion last year, up

  • BIZ BUZZ: Ayala in talks to buy back valuable AIM property

    Ayala Land Inc. (ALI) may soon get back the land it donated to the Asian Institute of Management (AIM) decades after the business school had been established. ALI chief financial officer Augusto Bengzon confirmed on Thursday that they were in talks with AIM Foundation to reclaim the 1.1-hectare (ha) land. READ: AIM launches Master in

  • Gokongweis exit loss-making petrochemical business

    MANILA, Philippines — In what is seen as the “best decision” under challenging market conditions, conglomerate JG Summit Holdings Inc. has decided to shut down its petrochemicals unit, which has been dragging down the group’s profitability. The Gokongwei-led company said in a statement on Thursday that JG Summit Olefins Corp. (JGSOC) was now “on an

  • Gov’t missed 2024 GDP growth target

    MANILA, Philippines — The Marcos administration missed its growth target for the second straight year in 2024, falling below consensus after the onslaught of destructive typhoons had muted the typical surge in economic activities during the holiday season. Gross domestic product (GDP), the sum of all products and services created within an economy, expanded at

  • US stocks rise on earnings deluge; airline shares retreat

    NEW YORK, United States — Wall Street stocks edged higher early Thursday following a deluge of mixed earnings as airline shares retreated following a US plane crash involving a passenger jet. Shares of Meta and IBM vaulted higher while Microsoft and UPS slumped on the heels of one of the busiest stretches of the earnings