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Ayala brings Spinneys to the Philippines

MANILA, Philippines — Ayala Corp. has signed a deal to bring another grocery format to the Philippines, this time United Arab Emirates-based Spinneys, which will likewise mark its debut in Asia. Under the partnership, Ayala will hold a 60-percent stake, while Spinneys will own the remaining 40 percent, Spinneys said in a press statement issued

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Philippines trims monthly debt after local bond repayment

MANILA, Philippines – The Philippine government’s debt burden eased in August after it settled its largest local bond of the year. This gives policymakers some breathing room in managing public finances. Data from the Bureau of the Treasury showed total obligations stood at P17.47 trillion. This was a decrease of 0.5 percent or P95 billion

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