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Gov't to place cap on GOCC officials' bonuses, honoraria
MANILA, Philippines – The government will place a cap on the bonuses and honoraria of government-owned and -controlled corporations' (GOCCs) officials, which according to the National Economic and...
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FDI inflows hit $6.2B in first 10 months of 2016
MANILA, Philippines – Foreign direct investments (FDIs) hit net inflows in October 2016 as investor confidence in the country's macroeconomic fundamentals continued to push investment comfortably above...
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Megaworld opening 4 new hotels in 2017
MANILA, Philippines – Andrew Tan-led Megaworld Corporation is set to open 4 new hotels this year, adding 1,662 more rooms under its portfolio and maintaining its position as one of the leading hotel...
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Ayala to build, operate $150-M Indonesia wind farm
MANILA, Philippines – A subsidiary of Ayala Corporation has sealed a deal to build, develop, and operate the first utility-scale wind farm in Indonesia, which is worth $150 million.In a disclosure to...
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Nothing underwater in Nickelodeon resort in Palawan – developer
MANILA, Philippines – The group planning a Nickelodeon attraction in Palawan clarified that it is not building anything underwater, contrary to reports that had environmentalists launching an online...
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Phoenix Semiconductor to proceed with Pampanga facility expansion
MANILA, Philippines – Korean-owned semiconductor company Phoenix Semiconductor Philippines Corporation (PSPC) said on Thursday, January 12, it will proceed with the expansion of its manufacturing...
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STI to raise up to P5B to fund campus expansions
MANILA, Philippines – STI Education Systems Holdings, a holding company owned by businessman Eusebio Tanco, said its education unit plans to raise up to P5 billion from the issuance of fixed-rate bonds...
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PH economy to stand out in Asia in 2017 – HSBC
MANILA, Philippines – Global financial giant HSBC expects the Philippines to continue its stellar economic growth and stand out among its Asian neighbors this year."The Philippines continues to stand...
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San Miguel pours P281B in expansion projects
MANILA, Philippines – San Miguel Corporation (SMC), the most diversified conglomerate in the country, is investing P281 billion to fund the expansion of its existing food, oil and fuel, power, as well...
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Robinsons Land sees 7.9% boost in 2016 income
MANILA, Philippines – Robinsons Land Corporation, the property unit of business tycoon John Gokongwei, said its net income for fiscal year 2016 grew 7.9% to P6.15 billion from the same period a year...
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Supreme Court upholds SEC's order to freeze John Hay transactions
MANILA, Philippines – The Securities and Exchange Commission (SEC) has scored a win over a Supreme Court (SC) ruling, which upholds its order stopping the developer of Camp John Hay to freeze all...
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Governments grapple with globalization backlash
PARIS, France – Governments stung by the political backlash from disgruntled voters left worse off by 3 decades of globalization are now scrambling for solutions, but there is no easy fix and the...
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Gov't downplays low rating on controlling inflation
MANILA, Philippines – The Philippine government on Saturday, January 14, downplayed its low performance rating on controlling inflation as reported by survey firm Pulse Asia.Referring to inflation,...
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Soon: Shorter shipping route between PH, Indonesia
MANILA, Philippines – The Department of Transportation (DOTr) announced plans to open a shorter shipping route between the Philippine and Indonesia, a move meant to strenghten trade relations between...
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Mindanao Railway project approaches rollout
MANILA, Philippines – The 2,000-kilometer Mindanao Railway project could move closer to a rollout when the National Economic and Development Authority (NEDA) Board, led by President Rodrigo Duterte,...
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#AskTheTaxWhiz: BIR deadlines to remember for January
The Philippine Tax Whiz reminds all businesses and professionals of a number of Bureau of Internal Revenue (BIR) deadlines this January and other requirements for the renewal of business permits.I have...
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Smart targets Metro Manila for LTE coverage expansion
MANILA, Philippines – Smart Communications Incorporated, the mobile subsidiary of PLDT Incorporated, promised to bring better mobile data services to homes and offices across Metro Manila in 3 months'...
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Sterling hammered on Brexit reports, Asia markets sink
HONG KONG – The pound struggled at 32-year lows against the dollar in Asia on Monday, January 16, after reports said British Prime Minister Theresa May was ready to take the country out of the European...
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URC spending P7.2 billion for expansion in 2017
MANILA, Philippines – Food manufacturing giant Universal Robina Corporation (URC) is spending a little less this year, alloting P7.2 billion for its capital spending budget mainly to expand its...
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Remittance growth in November fastest in 8 years
MANILA, Philippines – Money sent home by overseas Filipinos in November 2016 saw the highest growth in over 8 years and a rebound from a month ago, data from the Bangko Sentral ng Pilipinas (BSP)...
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