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IMI down from 4 to just 1 factory in China

MANILA, Philippines — Integrated Micro-Electronics Inc. (IMI), the listed semiconductors and electronics manufacturing arm of Ayala Group, has consolidated its China operations and shuttered its Kuichong facility to further cut losses and return to profitability. In a regulatory filing on Wednesday, IMI said it would integrate operations into its Pingshan facility over the coming weeks after

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IMF joins others, cuts Philippine growth outlook on tariff woes

MANILA, Philippines — The International Monetary Fund (IMF) trimmed its growth forecasts on the Philippines, joining other multilateral lenders in tempering expectations for the economy as higher US tariffs threaten to bite exports and investments. Following its annual staff visit, the Washington-based institution said it now projects the Philippine economy to expand 5.4 percent this

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BPI starts cash-in via Instapay for P15 fee

MANILA, Philippines — Starting Wednesday, Oct. 1, Bank of the Philippine Islands (BPI) adopted InstaPay for all its inter-institution cash-in transactions for a P15 fee as part of efforts to enhance interoperability of digital financial services in the country. The Ayala-backed bank said the standard service fee would also apply to transfers to affiliate e-wallet platform

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NCAA Season 101: Mapua opens defense with 2OT win over Lyceum

Defending champion Mapua opened its NCAA Season 101 campaign with a dramatic 90-89 double-overtime victory over Lyceum on Wednesday at Smart Araneta Coliseum. With team captain Clint Escamis fouling out late in regulation, it was JC Recto who carried the Cardinals in crunch time. The veteran forward tallied 16 points and nine rebounds, delivering clutch