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2 Chinese firms to build MGen’s Toledo battery system

MANILA, Philippines — Meralco PowerGen Corp. (MGen) has tapped two Chinese contractors for the first phase of its 49-megawatt battery energy storage system (BESS) project in Toledo, Cebu. In a talk with media on Thursday, company officials said that MGen had signed an engineering, procurement and construction contract with Contemporary Amperex Technology Co., Limited (CATL)

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SEC warns vs C’preneur Perfume Trading

MANILA, Philippines — The Securities and Exchange Commission (SEC) has warned against investing in C’preneur Perfume Trading, which is allegedly enticing the public to participate in unauthorized investment schemes. In a Sept. 16 advisory, the commission said C’preneur was supposedly offering investment packages worth P2,500 to as much as P100,000. READ: SEC files criminal complaints

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Meta expands AI glasses line in a bet on the future

MENLO PARK, United States — Meta showed off new smart glasses on Wednesday as it continued to bank on a lifestyle shift toward blending reality and virtual space despite the efforts inflicting heavy financial losses. Announcements included the debut of Meta Ray-Ban Display smart glasses that have built-in screens that allow wearers to see messages, photos

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Fintech firms back new antifraud law

MANILA, Philippines — The Philippines’ major fintech firms have expressed support for the government’s first use of the newly enacted Anti-Financial Account Scamming Act (Afasa). The law is now being tested in a high-profile corruption case tied to flood control projects. “This is a decisive step toward safeguarding the integrity of our financial system,” said