Razon settles row with ex-Solaire manager
Philippine Daily Inquirer
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Good morning. The dust can finally begin to settle as Razon's Bloomberry Resorts Corp. ends its dispute with Global Gaming Philippines LLC (GGAM) with a $300M deal. The row stemmed from the ouster of GGAM from the management of Solaire that GGAM claimed was unjust. That was back in 2013. This year, San Miguel Corp. (SMC) does its part in letting something go, that being the highly controversial Pasig River Expressway (PAREx) project.
Apart from PAREx, advocacy groups have also called on SMC to scuttle their other tollway projects in the pipeline. Meanwhile, Bank of the Philippine Islands (BPI) will unload all of its 15-percent stake in GoTyme Bank Corp. for P902.47 million.
According to the World Economic Forum, the Philippines can become a $2-trillion economy in the next decade. That's P112-trillion in today's exchange. Of that, we can expect a significant amount to be from the creative economy, which delivered P1.72 trillion in 2023.
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