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URC, Hong Kong-based Vitasoy to bring plant-based drinks to PH
MANILA, Philippines – Gokongwei-led local food manufacturer Universal Robina Corporation (URC) set up a joint venture with Hong Kong's Vitasoy Group to sell plant-based drinks to the Philippine...
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ABS-CBN files over $8M lawsuit vs website for piracy
MANILA, Philippines – ABS-CBN Corporation on Friday, February 17 filed a lawsuit before the US Federal District Court against a website for damages of over $8 million on infringement of trademarks and...
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PH peso closes at P50 to $1, stocks dip on external uncertainties
MANILA, Philippines – Philippine peso and stock prices both ended the week on a losing streak, with the local currency closing weaker at P50 to $1 due to uncertainties brought about by the...
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PAL cancels 100 flights in March due to radar maintenance
MANILA, Philippines – Philippine Airlines (PAL) has cancelled 100 flights from March 6 to 11 due to a radar maintenance and upgrade in Tagaytay CityIn a statement released Saturday, February 18, PAL...
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Jack Ma’s Ant Financial invests in Globe’s Mynt
MANILA, Philippines – The Ant Financial Services Group, an affiliate of Jack Ma’s Alibaba group, has entered the Philippines through an investment in Globe Fintech Innovations, Incorporated (Mynt) to...
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PH up 12 notches in 2017 Index of Economic Freedom
MANILA, Philippines – The Philippines continued its trend of economic gains, moving up 12 notches to 58th in the 2017 Index of Economic Freedom (IEF) from 70th place last year, announced the Bangko...
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Kraft Heinz withdraws $143B takeover bid for Unilever
WASHINGTON DC, USA – The US food giant Kraft Heinz has dropped its bid to buy Unilever days after it rejected a $143 billion buyout offer, the companies said on Sunday, February 19.Kraft Heinz had...
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LIST: Canceled flights due to radar maintenance in March
This page will be updated if airlines release more advisories.MANILA, Philippines – The scheduled maintenance of an air traffic radar in Tagaytay City has prompted the cancellation of flights from...
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Philippine peso now at its weakest in a decade
MANILA, Philippines – The Philippine peso depreciated further to P50.23 against the dollar on Monday, February 20, its weakest performance in a decade, weighed down by the political uncertainties in...
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Real estate firm Cebu Landmasters wants to go public
MANILA, Philippines – Cebu Landmasters Incorporated is planning to go public this May to raise funds for land acquisition and development, as it eyes expansion to 5 key cities in the Visayas and...
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DOF: Mining closures to cost LGUs over P821M in revenue losses
MANILA, Philippines – The potential closure or suspension of 28 mining firms could cost 17 cities and municipalities across 10 provinces around P821.13 million a year in foregone revenues, according to...
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Smart seen to get 25-year franchise extension by March
MANILA, Philippines – The Senate is fast-tracking the approval of the 25-year franchise extension of Smart Communications Incorporated which, if delayed, will stall the telco's operations and affect...
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Alibaba unit invests $200M in South Korea's Kakao Pay
SEOUL, South Korea – Alibaba's payment affiliate Ant Financial will invest $200 million in a unit of South Korean messaging giant Kakao, the companies said Tuesday, February 21, the Chinese firm's...
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Lack of one-time gain drags SM Prime's 2016 profit
MANILA, Philippines – The net income of listed property firm SM Prime Holdings Incorporated (SMPHI) fell in 2016 amid the lack of a one-time gain, dragging its profit by 15.90% despite its continuous...
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NEDA Board approves dev't plan, vows 'inclusive growth' under Duterte
MANILA, Philippines – President Rodrigo Duterte and his economic development team gave their nod to the blueprint that seeks to lift Filipinos out of poverty and boost growth in the rest of the...
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Meralco likely to hit target profit for 2016
MANILA, Philippines – The Manila Electric Company (Meralco) expects to hit its core net income guidance of P19 billion in 2016, with its chairman saying that the power distributor sees high electricity...
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PCC: P1B threshold stays for reviewing mergers, acquisitions
MANILA, Philippines – After a review, the Philippine Competition Commission (PCC) concluded there is "no pressing need" to raise the P1-billion threshold for reviewing merger and acquisition (M&A)...
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SC stops DOE, ERC from limiting major power consumers' supply choices
MANILA, Philippines – The Supreme Court (SC) issued a temporary restraining order (TRO) stopping the Energy Regulatory Commission (ERC) and the Department of Energy (DOE) from pushing through with new...
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Rappler Talk: Bob Herrera-Lim on the peso, worst performing currency
MANILA, Philippines – Rappler talks to risk consultant Bob Herrera-Lim about the weakening of the Philippine peso.On Tuesday, the Philippine peso depreciated to P50.3 against the dollar – its weakest...
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'Political noise' not causing weaker peso – expert
Manila, Philippines – The country's balance of trade, and not high-profile political developments, is behind the peso's dramatic slide in recent weeks, according to a risk consultant.On Tuesday,...
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