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MANILA, Philippines - (UPDATE) Conglomerate SM Investments Corp. expects its net income to rise by 14% in 2010, fueled by faster growth in the economy, group financial officer Jose Sio said on Thursday. MANILA, Philippines - Conglomerate SM Investments Corp. said its net income in the first half rose by 15% from a year ago to P8.5 billion, driven by higher earnings of its core businesses. Loews Corp posted a better-than-expected 8 percent rise in quarterly net profit, as the hotels and energy conglomerate recorded a gain on investments compared to significant investment losses a year earlier. Loews Corp , run by the billionaire Tisch family, posted an 8 percent rise in quarterly net profit, as the conglomerate recorded a gain on investments. DUBAI: UAE conglomerate Dubai Investments posted a 32 per cent drop in second quarter net profit yesterday, after being hit by a loss on the fair value of its investments.

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