smph

50 Richest Filipinos in 2013 hold 1/4 of Philippine GDP

Here’s a statistic that some of us might find interesting / surprising / depressing / revolting: The combined wealth of the fifty (50) richest Filipinos is equivalent to roughly one-fourth or 26% of the country’s Gross Domestic Product (GDP).

That’s according to the latest installment of Forbes Magazine’s list of the Philippines’ 50 Richest, an annual compilation of the wealthiest Filipinos based on their net worth.

Read More

New PSEi composition, as of February 2013

Gaming operator Bloomberry Resorts Corp. (Stock Code: BLOOM) will replace property firm SM Development Corp. (SMDC) in the Philippine Stock Exchange index (PSEi) starting March 11.

Bloomberry is currently one of the local bourse’s most actively-traded stocks following its announcement that it will open Solaire, a casino and resort entertainment complex, in the 120-hectare Pagcor Entertainment City in Pasay City this month.

Read More