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Ian Laqui - Winston Casio - Relieved PAOCC spox slapped with slander for slapping BPO worker - philstar.com - Philippines - city Manila, Philippines

Relieved PAOCC spox slapped with slander for slapping BPO worker

MANILA, Philippines —  A former employee of a Bataan-based business process outsourcing firm has filed a "slander by deed" case against Winston Casio, the relieved spokesperson of the Presidential Anti-Organized Crime Commission (PAOCC), for allegedly slapping him during an October 31 raid.

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7-Eleven owner announces counter-bid to foreign buyout - philstar.com - Usa - Japan - Canada - city Tokyo, Japan

7-Eleven owner announces counter-bid to foreign buyout

TOKYO, Japan — The Japanese owner of 7-Eleven said Wednesday its founding family had offered a counter-bid to a takeover attempt by Canadian convenience store rival Alimentation Couche-Tard (ACT).

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Ferdinand Marcos-Junior - Jean Mangaluz - Marcos signs law easing tax breaks for businesses, regulating work-from-home in ecozones - philstar.com - Philippines - city Manila, Philippines

Marcos signs law easing tax breaks for businesses, regulating work-from-home in ecozones

MANILA, Philippines— President Ferdinand Marcos Jr. on Monday, November 11, signed a new law that streamlines tax incentives for businesses in the Philippines, including the taxation of companies in special economic zones.    

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The Keepers to acquire Booze On-Line - philstar.com - Philippines

The Keepers to acquire Booze On-Line

The Keepers [KEEPR 2.17, up 4.8%; 436% avgVol] [link] is planning to acquire 100% of the outstanding shares of Booze On-Line Inc (BOLI). According to its website (boozeshop.ph), BOLI is “one of the leading companies engaged in importing and distributing global wines, spirits, and premium beers.” It is the exclusive distributor of Hoegaarden, Stella Artois, Becks, Leffe, Paulaner, Chimay, and Delirium Tremenes. BOLI’s site claims it has “over 350 customers around the country”, including “key on-premise accounts like The Distillery, Draft Gastro Pub, Olive Cerveceria, Beso Cucina Vinoteka, and Imperial Ice Bar”. KEEPR did not disclose the value of the acquisition but indicated that it is below KEEPR’s reporting threshold (>10% KEEPR’s book value). KEEPR is owned by Lucio Co, and specializes in imported wines and spirits. 

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Philippine Airlines Q3 profit: P789M (down 82% y/y) - philstar.com - Philippines

Philippine Airlines Q3 profit: P789M (down 82% y/y)

Philippine Airlines [PAL 5.24, down 1.1%; 673% avgVol] [link] posted a Q3 net income of P789 million, down 82% y/y from its Q3/23 net income of P4,278 million, and down 70% q/q from its Q2/24 net income of P2,590 million. On a 9M basis, PAL’s net income was down 58% to P8,075 million. PAL declined to comment specifically on its Q3 results, but in a press release contextualized the huge drop in 9M profitability on a 3.68% drop in passenger revenues to P115.66 billion (down from P120.08 billion). PAL said that its passenger volume increased by 6.4% to 11.71 million passengers, but that its “yield per passenger” dropped by 6.9% (not nice) “due to increased competition in the market.” The Tan Family’s airline noted higher cargo and ancillary revenues, but also higher consolidated operating expenses, which increased 9.5% to P109.7 billion. PAL attributed this increase to an uptick in round-trip flights, and maintenance expenses, which increased 12% to P17.5 billion. PAL President and COO, Stanley Ng, is quoted in the press release as saying, “We are continuing to see a moderation in growth and a more challenging business environment where rising costs exert greater pressure on the economics of airline operations.”

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CTALK - No system, no control - philstar.com - Philippines - city Manila

No system, no control

What were some DOTr advisers thinking when they recommended to Secretary Jimmy Bautista that the EDSA Bus Lane be redesigned to counterflow so that non-buses will stop entering the lane? If the President of the Philippines can finally outlaw POGO in the Philippines by simply signing a piece of legislation, why can’t the DOTr, the MMDA, the LTO or the DPWH declare that the BUS LANE IS FOR BUSES ONLY!

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International - Century Pacific adopts distributor model in China - philstar.com - Philippines - China - county Pacific - city Shanghai

Century Pacific adopts distributor model in China

Century Pacific [CNPF 41.40, down 1.4%; 57% avgVol] [link] announced that it has appointed Shanghai Ikai International Trading (SIIT) to be a distributor in China. CNPF describes SIIT as an “omni-channel distribution company with capabilities in online, offline, and food service channels”. CNPF said that its appointment of SIIT as its distributor is part of a new strategy to embrace the distributorship model, and to move away from “directly servicing its customers via its China-based entities.” In line with this, CNPF has dissolved its China-based subsidiaries, Century International Company and Century (Shanghai) Trading Company. CNPF said that its export business to China accounts for “less than half a percent” of the company’s audited revenues and profits.

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Alternergy Q1 net income: P17.4M (down 82% y/y) - philstar.com - Palau

Alternergy Q1 net income: P17.4M (down 82% y/y)

Alternergy [ALTER 0.91 unch; 31% avgVol] [link] posted a Q3 income of P17.4 million, which was down 82% from its Q3/23 net income of P97.0 million on “high bar” effects from one-time cost recovery income that it booked in the previous period. ALTER reported higher revenue from electricity sales (+125%) thanks to the addition of the Palau solar project, which contributed approximately 51% of the company’s operating revenues for the period. Net income from core operations increased by 63% from the start of commercial operations for the Palau solar facility.

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