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Fresh AMLA amendments include casinos, real estate, junket ops
MANILA, Philippines – Casinos, real estate developers, money transfer firms, junket operators, and dealers of high-value item goods will be under the watch of the Anti-Money Laundering Council (AMLC),...
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Oil resumes rise after OPEC cut
SINGAPORE – Oil prices resumed their rise Thursday, December 1, and held above the $50 barrier following OPEC's decision to carry out its first output cut in 8 years.The Organization of the Petroleum...
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SM to renovate 100 cinemas in 2017
MANILA, Philippines – SM Lifestyle Entertainment Incorporated (SMLEI), the lifestyle and entertainment solutions company of property giant SM Prime Holdings Incorporated, plans to renovate nearly 100...
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Coca-Cola PH plans to invest $1B more in PH
MANILA, Philippines – Coca-Cola FEMSA Philippines, the bottlers and distributors of Coca-Cola in the country, announced its plan to invest $1 billion more in the Philippines in the next few years.The...
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Trump threats may not stop U.S. offshoring of jobs
NEW YORK, USA – US President-elect Donald Trump's threats to retaliate against US companies planning to shift operations overseas constitute a new risk for multinationals, but may not sway those...
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Philippines asks for Bangladesh help on bank heist investigation
MANILA, Philippines – The Philippine government has asked Bangladesh to share the results of its probe into the $81-million Bangladesh Bank heist, in a bid to speed up the recovery of the stolen funds....
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Gov't debt drops further in September 2016
MANILA, Philippines – The national government’s debt levels dropped further in September as a robust economy and increased spending offset revenue losses, according to the Department of Finance...
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DTI seeks to stop '5-6' lending
MANILA, Philippines – The Department of Trade and Industry (DTI) will set aside P1 billion starting next year to implement an alternative lending scheme with an estimated 2% interest rate for micro and...
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Caution as Hong Kong-Shenzhen share trading link launches
HONG KONG – A long-delayed trading link between the Chinese city of Shenzhen and Hong Kong launched Monday, December 5, opening another door to the mainland's cosseted stock markets but a China...
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Emperador buying Pernod Ricard's Domecq brandy and sherry
MANILA, Philippines – Filipino liquor company Emperador Incorporated is buying the Domecq brandy and sherry businesses of Pernod Ricard SA in Mexico for an undisclosed price.This comes after Emperador...
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PCC's 2017 priorities: Int'l shipping, cement, power, agriculture
MANILA, Philippines – The Philippine Competition Commission (PCC) is ready to show some muscle not just in the telecommunications sector, as it puts focus on international shipping, cement, power, and...
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NAIA-Newport air-conditioned walkway by 2017
MANILA, Philippines – A 220-meter air-conditioned elevated bridge connecting Ninoy Aquino International Airport (NAIA) Terminal 3 with Newport City in Pasay City is set to open in the first half of...
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GMA Network initially spends P416M on DTT shift
MANILA, Philippines – Broadcast giant GMA Network Incorporated said it is initially spending P416 million on transmitter facilities for its transition to Digital Terrestrial Television Broadcast (DTTB)...
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Razon group plans to renovate Rizal Memorial Coliseum, add malls
MANILA, Philippines – The group of port and gaming tycoon Enrique Razon Jr. has proposed to re-develop and modernize the 82-year-old Rizal Memorial Sports Complex (RMSC), which was destroyed during...
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Philippine Senate ratifies treaty to join China-led AIIB
MANILA, Philippines – The Senate of the Philippines has adopted a resolution concurring to the ratification of the Article of Agreements of the Asian Infrastructure Investment Bank (AIIB) on Monday,...
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Customs to auction off P27M worth of used cars, other goods
MANILA, Philippines – The Bureau of Customs (BOC) expects to raise around P27 million in its upcoming public auction of seized and abandoned goods.The BOC will auction off 46 container vans containing...
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Inflation rises to 2.5% in November
MANILA, Philippines – Inflation increased to 2.5% last November from 2.3% in October due to higher oil prices, said the National Economic and Development Authority (NEDA) on Tuesday, December 6.The...
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PH contractors eye up to $100-B infra deals with Chinese firms
MANILA, Philippines – The subsidiaries of China Communications Construction Company Limited (CCCC) signed a memorandum of understanding (MOU) with a local design consultancy firm and a construction...
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Bill to reform PH telco industry eyed by 2017
MANILA, Philippines – The Senate committee on economic affairs plans to create a bill by 2017 that will ultimately reform the country's telecommunications industry, expanding the powers of regulators...
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PH foreign reserves drop to $82.73B in November
MANILA, Philippines – The country's gross international reserves (GIR) dropped last November due to foreign exchange losses and the lower global market price of gold, according to the Bangko Sentral ng...
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