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Century Properties, Indonesia's Bakrie forming joint venture for 3 developments
MANILA, Philippines – Century Properties Group agreed on a joint venture with one of Indonesia's largest conglomerates, the Bakrie Group, in a deal seen to bring about the rise of 3 new themed...
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LRT1 operator's promise: 25-minute ride from Cavite to Makati by 2021
MANILA, Philippines – Slowly, a mass transit light-rail line is finally coming to the country's most populous province: Cavite.Light Rail Transit Line 1 (LRT1) operator Light Rail Manila Corporation...
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ADB president: We're not rivals with China's AIIB
YOKOHAMA, Japan – The Asian Development Bank (ADB) is cooperating with the Asian Infrastructure Investment Bank (AIIB), rather than competing with each other.This is what ADB President Takehiko Nakao...
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Dennis Uy to develop $300M resort and casino in Cebu
MANILA, Philippines – Udenna Corporation, the holding company of Davao-based businessman Dennis Uy, plans to build a $300-million integrated resort and casino on the Punto Engaño peninsula on Mactan...
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LOOK: Puerto Princesa International Airport's new terminal
MANILA, Philippines (UPDATED) – Operations at the new terminal of the Puerto Princesa International Airport began on Thursday, May 4, following the inauguration of the P4.5-billion facility on...
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DOTr keen on removing Davao airport rehab from PPP pipeline
MANILA, Philippines – With investments still pouring into the hometown of President Rodrigo Duterte, the government is keen on scrapping the auction for the rehabilitation, operations, and maintenance...
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DOTr undersecretary resigns, denies rift with Tugade
MANILA, Philippines (3rd UPDATE) – Roberto "Bobby" Lim resigned as the country's transportation undersecretary for aviation in the interest of the department, he said."I have resigned in the interest...
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ADB achieves most dev’t targets, falls short on poverty reduction
YOKOHAMA, Japan – Four years ago, the Asian Development Bank (ADB) set off to achieve development targets to assist progress in Asia and the Pacific.The targets were for wide-ranging concerns –...
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Absence of election spending drags Pepsi Cola PH's income
MANILA, Philippines – Softdrink maker Pepsi Cola Products Philippines Incorporated saw its net income drop by 42% in the first quarter of the year compared to the same period last year, height of the...
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Inflation remains steady in April
MANILA, Philippines – The general rise in prices of basic goods and services remained remained steady in April, within the target of the Bangko Sentral ng Pilipinas (BSP).The Philippine Statistics...
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ASEAN+3 agree to boost financial cooperation amid global risks
YOKOHAMA, Japan – Twenty years after the Asian financial crisis, and amid fresh global economic risks, finance ministers and central bank governors of ASEAN, China, Japan, and South Korea (ASEAN+3)...
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Japan's Crown Prince opens 50th ADB meeting: Prioritize poverty reduction
YOKOHAMA, Japan – No less than the Crown Prince of Japan welcomed participants of the 50th annual meeting of the Asian Development Bank (ADB). On Saturday, May 6, Naruhito, the elder son of Emperor...
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China pushes economic diplomacy amid warm Philippine ties
GUANGDONG, China – At a time when China is being treated more as an ally rather than a rival by the Philippine government, the East Asian powerhouse has a message for its much smaller Southeast Asian...
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ADB, region push for more PPPs as Duterte gov't mulls less
YOKOHAMA, Japan – The Asian Development Bank (ADB) is pushing for more public-private partnerships (PPPs) in line with its priority to support infrastructure development.At the the Bank’s 50th annual...
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PH shows off best products, hospitality ahead of 2018 ADB hosting
YOKOHAMA, Japan – As the 50th annual meeting of the Asian Development Bank (ADB) comes to a close here, the Philippines prepares to host the bank's next meeting in 2018.At a launch event hosted by the...
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NGCP still keen on Visayas-Mindanao grid connection
MANILA, Philippines – Henry Sy Jr-led National Grid Corporation of the Philippines (NGCP) said it is still preparing to undertake the project connecting the Visayas and Mindanao power grids despite the...
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DOTr won't auction off Clark airport rehab
MANILA, Philippines – The Department of Transportation (DOTr) canceled a plan to bid out the rehabilitation of Clark International Airport, in order to avoid disputes between potential investors that...
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New PSE president to focus on PDS merger, lowering broker ownership
MANILA, Philippines – Ramon Monzon, the new president of the Philippine Stock Exchange (PSE), will focus on complying with the rules of the Securities and Exchange Commission (SEC) and finally merging...
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Who is new BSP governor Nestor Espenilla?
MANILA, Philippines – The quest for stability wins the day.By choosing Nestor Espenilla Jr, a long-serving technocrat at the Bangko Sentral ng Pilipinas (BSP) as the incoming governor for the next 6...
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EDC says geothermal not dead but efficiency, incentives crucial
MANILA, Philippines – Energy Development Corporation (EDC), the renewable energy arm of the Lopez family's First Gen power unit, is adamant that efficiently-run geothermal energy is still commercially...
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