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AREIT gets P21-B boost from parent Ayala Land, sister firms

MANILA, Philippines — AREIT Inc. will get a P20.99-billion infusion from sponsor Ayala Land Inc. (ALI) and two of the latter’s subsidiaries through a property-for-share swap deal. This would enable the Ayala group’s real estate investment trust (REIT) to expand and diversify its portfolio. In a disclosure on Friday, the country’s first publicly listed REIT

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Rockwell Land eyes P20B from bond market

MANILA, Philippines — Rockwell Land Corp. will tap the bond market to raise up to P20 billion and fund its capital expenditures. This move comes as the firm pursues the expansion of its projects. In a regulatory filing on Friday, Rockwell Land said its board of directors had approved the bond offering under a shelf

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Citystate Savings Bank reels in P735M from CS Capital

MANILA, Philippines Hong Kong-listed CS Capital Investment Pte. Ltd. has completed its acquisition of a minority stake in Citystate Savings Bank Inc. This is a P735.9-million deal that would enable the bank to expand its market reach and speed up digitalization efforts. As a result of the deal, Cabangon-led Citystate gave two board seats to

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North Korea may hold uranium for dozens of nuclear bombs

North Korea is believed to have amassed a large stockpile of weapons-grade uranium, with assessments suggesting Pyongyang could possess enough material for dozens of nuclear bombs. South Koreas Unification Minister Chung Dong-young on Thursday said an assessment indicated that North Korea holds 2000kg of highly enriched uranium at a purity of 90 per cent or higher.