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The collapse of POGOs may have been the opening act, but the unfolding flood control scandal—and the government’s anticorruption crackdown—are now casting a long shadow over luxury real estate and retail in the Philippines.
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Philippine Airlines (PAL) is removing a handful of seats on its Airbus A321ceos to make way for a more spacious, comfort-driven cabin overhaul.
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Investigators probing the flood control corruption scandal say their biggest find yet is a luxury fleet linked to Congressman Zaldy Co, though several of the aircraft have already flown beyond the reach of Philippine authorities, an insider said.
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Ayala Corp. is reviving the Makro brand in the Philippines through a new business venture with Thailand’s listed retail giant CP AXTRA, marking its return to the warehouse club business after more than two decades.
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The certificates of registration which cover a Gulfstream G550 and a Gulfstream G150 list the Lucio Tan-owned airline as the sole owner and operator. The airline’s Pasay City headquarters at the PNB Financial Center is recorded as the official address. Renewal receipts confirm that the jets’ registrations remain valid until 2029 and 2030, respectively.
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Del Monte Pacific Ltd. (DMPL) shares swung wildly on Sept. 22, jumping nearly 44 percent at the open only to collapse from that high to finish below its pre-suspension price.
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Vacancies continue to weigh heavily on the office sector in Metro Manila and most major urban centers, but one southern city has quietly flipped into a landlord’s market.
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While the BSP’s move would likely target anti-money laundering and fraud risk management, the unintended consequence is a liquidity squeeze on cash-reliant but legitimate businesses. Unless paired with robust digital payment alternatives and financial inclusion measures, the cap risks disrupting day-to-day commerce, particularly outside Metro Manila.
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Tycoon Ramon S. Ang said Lufthansa Technik Philippines’ future at Ninoy Aquino International Airport hinges on government approval, as lease talks continue beyond the end-August expiry.
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