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OFW cash remittances up 10.7% in March
MANILA, Philippines – Cash remittances, or those coursed through banks, by overseas Filipino workers (OFWs) rose after a steady couple of months to hit $2.615 billion in March 2017, based on...
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Petron to start $20B oil refinery in early 2018
MANILA, Philippines – Petron Corporation, the country’s biggest oil refiner and retailer, has partnered with two foreign firms to start building a new oil refinery worth $15 million (P745.46 billion)...
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BSP to banks: Don't pay ransomware attackers
MANILA, Philippines – In the wake of a massive global ransomware attack, the Bangko Sentral ng Pilipinas (BSP) instructed banks and other financial institutions not to pay or communicate with cyber...
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Glitches hit BDO card, online transactions
MANILA, Philippines (UPDATED) – Has your BDO credit card or ATM card not been working all day? You're not alone.BDO Unibank's systems reported downtime on Tuesday, May 16, causing BDO users to be...
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DMCI Holdings still upbeat on 2017 despite mining uncertainty
MANILA, Philippines – Consunji-led engineering conglomerate DMCI Holdings Incorporated said this year holds good prospects despite its nickel mining unit being hampered by suspensions from the...
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Could Duterte's approach to China ultimately make Ongpin richer?
MANILA, Philippines – President Rodrigo Duterte has tagged Roberto Ongpin as an "oligarch" who must be destroyed, but the government's policies may in time just end up making the tycoon a hefty...
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Taiwan sees fewer tourists as Chinese stay away
TAIPEI, Taiwan – Visitor numbers to Taiwan fell in the 1st quarter of 2017, dragged down by a 42% plunge in arrivals from China as relations worsen across the strait.The number of Chinese tourists to...
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Volkswagen CEO faces first probe over 'dieselgate'
FRANKFURT AM MAIN, Germany – Volkswagen chief executive Matthias Mueller on Wednesday, May 17, stood in the focus of an investigation into the world's largest carmaker's "dieselgate" scandal for the...
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Hong Kong firm pays record $3B for prime commercial lot
HONG KONG – A Hong Kong tycoon has paid US$3 billion for a prime commercial lot, a city record according to analysts, as costs in one of the world's most expensive metropolises continue to soar. The...
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PH economy grows slower by 6.4% in Q1
MANILA, Philippines (UPDATED) – Slow implementation of big-ticket infrastructure projects is taking a toll on the country's economic growth, which slipped to 6.4% in the 1st quarter of 2017, its...
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FAST FACTS: How important is the EU to the Philippines?
MANILA, Philippines – The Philippine government explained its decision to refuse new grants from the European Union (EU) by saying that the country must be "independent."Before making the controversial...
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Dennis Uy's Chelsea Logistics wants a bigger pie of 2GO
MANILA, Philippines – Fueled by domestic consumption and e-commerce, almost every large conglomerate in the Philippines wants a share of the booming logistics market. A businessman from Davao does not...
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Rappler Talk: Thierry Tea on the business of private helicopters, jets
MANILA, Philippines – Could business aviation unlock global expansion for Philippine businesses?Thierry Tea, founder and managing director of Philjets, an aviation company that provides services in the...
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Business aviation could push growth for PH businesses – expert
MANILA, Philippines – Cutting through everyday Metro Manila traffic is a luxury many would like to afford.But how much would one be willing to pay to do so?To get to Tagaytay from Manila in 30 minutes...
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Rappler Talk: Nickel Asia Corp and responsible mining in Palawan
PUERTO PRINCESA, Palawan – The spotlight is on the Philippine mining industry after former environment secretary Gina Lopez shut down several mining sites earlier this year.Lopez also banned...
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Cathay Pacific sacks 600 staff in major shakeup
HONG KONG, China – Hong Kong's flagship airline Cathay Pacific said Monday it would cut 600 staff as part of a major overhaul to slash costs and repair its bottom line. The company posted its first...
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Gov't infra push fails to spark economy in Q1
MANILA, Philippines – The government's much trumpeted "Build, Build, Build" infrastructure push has yet to materialize, which has led in part to disappointing growth at the start of 2017 despite the...
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PLDT sells remaining stake in SPi Global
MANILA, Philippines – PLDT Incorporated is exiting from the business process outsourcing (BPO) industry by selling its remaining 20% indirect stake in SPi Global Holdings Incorporated to a global...
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No merger? Henry Sy firm among top shareholders of RCBC
MANILA, Philippines – A firm led by the Sy family is among the top shareholders of Yuchengco-led Rizal Commercial Banking Corporation (RCBC), although it has denied reports that it is contemplating a...
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DOTr eyes MRT3 buyout under Duterte admin
MANILA, Philippines – The Department of Transportation (DOTr) is reviving talks of a buyout of the Metro Rail Transit Line 3 (MRT3), a plan of the previous Aquino administration that did not work...
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