#THROWBACK2013 | Year in Review: Top Economy and Business Stories

5. Ayala vs SM

2013 was a year when the rivalry between top companies SM and Ayala groups heated up. In May, a road dispute marred the opening of SM's upscale Aura mall, located a few steps from Ayala-controlled Bonifacio Global City.  Then, Ayala contested SM Land's proposed reclamation project in Pasay City.

4. Top income taxpayers

The Bureau of Internal Revenue's top taxpayers' list for 2012 attracted much interest not just for the familiar names in it, but also for those who weren't on it. Low-key businesswoman Vivian Que-Azcona, who owns the country’s biggest drugstore chain Mercury Drug, topped the BIR's list of individual taxpayers, edging out more well-known tycoons and celebrities.

3. Makati vs Taguig

Bonifacio Global City, the rising central business district which is part of Fort Bonifacio, was at the center of the dispute between Makati and Taguig. Taguig filed an appeal with the CA seeking to overturn its decision.

2. Soaring power rates

Consumers in Metro Manila faced soaring electricity rates in December, as Manila Electric Co (Meralco) implemented its biggest increase ever.

1. First-ever Investment grade

The Philippines bagged a landmark vote of confidence as global debt watcher Fitch raised the country's credit rating to investment grade.

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