RSA brings in former NEDA chief Ernesto Pernia as new San Miguel director

Ultra bilyonaryo Ramon S. Ang has added a key economic manager under the Duterte administration to the San Miguel Corp. board.

Former National Economic and Development Authority Director-General Ernesto del Mar Pernia has been elected SMC director effective August 4.

He replaced Thomas Tan who signed on July 21.

Pernia served as NEDA chief from 2016 to April 2020 when he resigned due to what he claimed as “differences in development philosophy with a few of my fellow Cabinet members” in the post-coronavirus economic recovery plan.

He worked for 18 years in the Asian Development Bank where he rose to become its lead economist.

The Professor Emeritus of Economics at University of the Philippines has a PhD degree from the University of California Berkeley on a Ford Foundation scholarship and a Smithsonian Institution dissertation grant

Profit of Yap-led CEU clobbered by pandemic restrictions

Centro Escolar University (CEU), controlled by he heirs of the late Don Emilio Yap, saw a 23 percent decline in net income during its fiscal year ending May this year to P119.05 million due to the deferral of revenues and recognition of contract liabilities.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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