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Bloomberry's Jeju casino sale collapses
MANILA, Philippines – Bloomberry Resorts Corporation, the integrated casino and resort developer owned by businessman Enrique Razon Jr, is no longer actively looking for a buyer for its Jeju casino...
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PH consumer confidence hits new record for the holidays
MANILA, Philippines – The renewed sense of confidence Filipino consumers have displayed in recent years has been boosted even more for the holiday period, according to the Bangko Sentral ng Pilipinas...
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Iran signs deal to buy 80 Boeing planes
TEHRAN, Iran – Iran Air finalized a contract to buy 80 planes from Boeing, the US aerospace firm confirmed on Sunday, December 11, as it seeks to renew its aging fleet despite sanctions.Boeing said the...
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Qantas to fly non-stop between Australia and Europe
SYDNEY, Australia – Qantas plans to operate non-stop flights from Perth to London, the world's first regular passenger service linking Australia directly to Europe in a move hailed by tourism groups...
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Tieng, Sy group optimistic Sangley airport proposal will be approved
MANILA, Philippines – The group of Henry Sy Sr and William Tieng hopes to start by 2017 the construction of its P1.3-trillion Philippine Global Gateway project, which includes an airport, seaport, and...
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Metro Manila flood control, bus rapid transit projects eyed for AIIB financing
MANILA, Philippines – A flood control project and a bus rapid transit (BRT) system, both in Metro Manila, are the first two infrastructure deals to be presented to the Asian Infrastructure Investment...
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Megaworld to spend P5B for Antipolo community dev't
MANILA, Philippines – Condominium builder Megaworld Corporation will spend P5 billion in the next 5-7 years to develop a 640-hectare property in Antipolo, Rizal, into an integrated lifestyle...
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Oil soars as non-OPEC producers agree on caps
SINGAPORE – Oil soared Monday, December 12, following a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output, in a bid to end a stubborn global glut that has...
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Forget your fears, Duterte tells BPO companies
MANILA, Philippines – President Rodrigo Duterte assured the business process outsourcing industry that it has nothing to fear from his administration."Forget your fears. This is a democracy we follow...
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LTO settles P8B debt to Stradcom, finds new IT provider
MANILA, Philippines – The country's Land Transportation Office (LTO) has agreed to settle its P8-billion debt to its IT provider for 18 years, Stradcom Corporation, as it shifts to a new service...
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Fitch keeps 'stable' outlook for PH banks in 2017
MANILA, Philippines – Fitch Ratings maintained its "stable" rating and sector outlook for Philippine banks, despite a tough year ahead for Association of Southeast Asian Nations (ASEAN) markets as the...
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Jollibee divests in San Pin Wang for P650M
MANILA, Philippines – Jollibee Foods Corporation, the country's largest food service company, has fully divested its 55% stake in local China restaurant chain San Pin Wang for RMB 90 million (P650...
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PH stops import of 20,000 MT Chinese steel bars
MANILA, Philippines – The Philippines stopped the importation of 20,000 metric tons (MT) Chinese steel bars, after a probe conducted by a local steel industry group showed they were "substandard."A...
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ADB upgrades PH growth forecast for 2016, 2017
MANILA, Philippines – The Asian Development Bank (ADB) upgraded its prediction of the Philippines' full-year growth for 2016, due to stronger-than-expected results earlier this year and despite...
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Unemployment in October lowest in 11 years
MANILA, Philippines – The Philippines saw its lowest unemployment rate in 11 years in October, as the services sector continued to drive job generation.The Philippine Statistics Authority (PSA) on...
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Asahi says paying $7.7B for AB InBev's eastern European business
TOKYO, Japan – Asahi Group said Tuesday, December 13, it will pay $7.7 billion for AB InBev's beer assets in 5 emerging European countries, its biggest-ever overseas deal as the Japanese brewer expands...
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Qatar, Kuwait to cut oil production from January 1
DOHA, Qatar – Oil companies in Qatar and Kuwait on Tuesday, December 13, announced that they will reduce production levels from the beginning of the year.The reduction – beginning on January 1 – comes...
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Ayala eyes infra proposals to help ease Metro traffic
MANILA, Philippines – The infrastructure arm of Ayala Corporation (AC) plans to submit unsolicited proposals for infrastructure projects to address traffic and other "pain points" in Metro...
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Local Mazda distributor plans P1.24-B IPO
MANILA, Philippines – Bermaz Auto Philippines Incorporated, the exclusive distributor of Mazda vehicles in the Philippines, filed an application with the Securities and Exchange Commission (SEC) to...
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MRT3's Busan expects 800k passengers daily by 2017
MANILA, Philippines – The Korean-Filipino maintenance provider of the Metro Rail Transit Line 3 (MRT3) expects the system's capacity to increase to 800,000 passengers daily, as soon as 48 new light...
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