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Bank holiday schedule for Christmas 2016
MANILA, Philippines – Several banks are closing all branches during the long holiday break. Here's an initial list of banks' holiday schedules:PSBankAll PSBank branches will be closed on Monday,...
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PPA: Manila ports' yard utilization 'very healthy'
MANILA, Philippines – Although ports in Manila are far from being congested, the Philippine Ports Authority (PPA) asked cargo owners to continue withdrawing their cargoes this holiday season so as not...
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Alliance Global allots P1.2B for drug rehab centers
MANILA, Philippines – Alliance Global Group Incorporated, the investment holding company of tycoon Andrew Tan, is committing P1.2 billion to the government for the construction of 4 modern drug...
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Supreme Court upholds SEC foreign ownership rules
MANILA, Philippines (UPDATED) – The Supreme Court (SC) will not nullify the foreign ownership guidelines set by the Securities and Exchange Commission (SEC), which a lawyer alleged was made to...
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My Ikea nights: new craze irks Swedish furniture giant
STOCKHOLM, Sweden – A new fad that has people hiding out in IKEA stores overnight and walking out the next morning has left the Swedish retailer less than amused.In Europe, pranksters seeking a thrill...
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PayMaya, Beep to be allowed soon in NLEX, SCTEX
MANILA, Philippines – Motorists passing through the North Luzon Expressway (NLEX) and Subic-Clark-Tarlac Expressway (SCTEX) can use PayMaya and Beep cards for payment by the first quarter of 2018."The...
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Duterte threatens to 'whack' BSP, AMLC officials
MANILA, Philippines – President Rodrigo Duterte threatened to "whack" the country's central bank and Anti-Money Laundering Council (AMLC) officials, accusing them of corruption and not doing their...
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BSP maintains monetary policy, inflation targets
MANILA, Philippines – The country's central bank maintained its monetary policy anew and kept its inflation target for the year even if the United States decided to raise its interest rates.Bangko...
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MRT-LRT common station to be done in 2.5 years – DOTr
MANILA, Philippines – The construction of the proposed Light Rail Transit (LRT) and Metro Rail Transit (MRT) common stationbetween SM North EDSA and TriNoma malls will be done in two and a half years,...
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Deutsche Bank to pay $7.2B to settle U.S. subprime case
BERLIN, Germany – Deutsche Bank has agreed to pay a total of $7.2 billion to settle a case with the US Department of Justice over its role in the subprime mortgage crisis, the lender said in a...
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Century Pacific to buy Chinese distribution firms for $2.56M
MANILA, Philippines – Century Pacific Food, Incorporated is set to acquire distribution companies in China for $2.56 million in a bid to further expand its branded exports business.In a disclosure to...
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SMDC to venture into affordable housing
MANILA, Philippines – SM Development Corporation (SMDC), the residential unit of property giant SM Prime Holdings Incorporated, is expanding its product offering by venturing into affordable housing...
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PEZA to Duterte: We're not engaged in online gaming
MANILA, Philippines – After being accused of bribery for granting gaming licenses, the Philippine Economic Zone Authority (PEZA) clarified to President Rodrigo Duterte that it has nothing to do with...
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Boracay Island on track to reach 1.7 million arrivals - DOT
MANILA, Philippines - With the influx of tourist during the holidays, the Department of Tourism expressed confidence that Boracay Island will achieve its target of 1.7 million tourists by end of...
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MVP open to reviving talks with GMA
MANILA, Philippines – The chief of PLDT Incorporated is open to revive talks with GMA Network Incorporated for an investment in the broadcast firm should his telco hit its financial target next...
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LTFRB warns Uber, Grab over unreasonable price surge
MANILA, Philippines – The Land Transportation Franchising and Regulatory Board (LTFRB) warned transport network companies Uber and Grab they face suspension or cancellation of their accreditation...
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China fines GM unit $29M for 'price-fixing'
BEIJING, China – Beijing has fined the Chinese unit of General Motors nearly $29 million for "infringing on the rights of consumers and its competitors" via price-fixing, Shanghai authorities said....
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Landbank to provide P115B in loans to small farmers, fishermen by 2022
MANILA, Philippines – The Land Bank of the Philippines (Landbank) has committed to triple lending to small farmers and fishermen to P115 billion by 2022, from the current P37.9 billion.This is in line...
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Heeding LTFRB's call, Grab puts cap on holiday rates
MANILA, Philippines – In compliance with the Land Transportation Franchising and Regulatory Board (LTFRB) order to stop "unreasonable" price surging, ride-hailing company Grab is putting a cap on its...
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After LTFRB warning, Uber PH limits surge until January 15
MANILA, Philippines – Following a warning from the country's transportation regulatory body, Uber Philippines on Sunday, December 25, announced it would "implement a limit on surge to make rides more...
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