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PH external debt drops by 1.8% to $72.5 billion in Q2 2017
MANILA, Philippines – The country's total debt owed to foreign creditors dropped in the 2nd quarter of 2017, according to the Bangko Sentral ng Pilipinas (BSP).BSP Officer-in-Charge Diwa Guinigundo...
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Pangilinan-Ayala group poised to bag MRT3 original proponent status
MANILA, Philippines – The group led by the companies of tycoons Manuel Pangilinan and Jaime Augusto Zobel de Ayala is expected to bag the original proponent status for the takeover and upgrade of the...
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Megawide's proposed East-West Railway to cost $1 billion
MANILA, Philippines – Megawide Construction Corporation, a front-runner in public-private partnership (PPP) projects, disclosed the cost of its proposed 9.4-kilometer elevated railway line from...
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GM to recall 2.5M vehicles in China over Takata airbags
BEIJING, China – General Motors will recall more than 2.5 million vehicles in China over concerns about airbags made by troubled Japanese giant Takata, Chinese authorities said, dealing a blow to the...
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PH stocks break 8,200 level, post 3rd straight all-time high
MANILA, Philippines – Local stocks are ending the ghost month with a bang, breaching the 8,200 mark and reaching a new all-time high for the 3rd straight trading session on Monday, September 18, as...
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Max's Group bringing Sizzlin' Steak to UAE
MANILA, Philippines – Treading the same path as Yellow Cab Pizza, Sizzlin' Steak, another franchise of casual restaurant operator Max's Group Incorporated (MGI), will make its way to the United Arab...
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Security Bank, RCBC add anti-fraud measures to debit cards
MANILA, Philippines – With the threat of automated teller machine (ATM) fraud still looming large, two of the country's biggest banks have doubled down on security measures for their customers' debit...
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Jollibee eyeing British food chain Pret a Manger – report
MANILA, Philippines – Jollibee Foods Corporation, the country's largest fast food chain, is reportedly in talks with British sandwich chain Pret a Manger for a possible takeover, a deal that could cost...
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Resorts World Manila sees recovery, fast-tracks expansion
MANILA, Philippines – Andrew Tan-led holding firm Alliance Global Incorporated said it is seeing signs of recovery in its casino unit Resorts World Manila, following a deadly attack in June, and is...
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Toys''R''Us files for bankruptcy
NEW YORK CITY, USA – Retailer Toys "R" Us has filed for Chapter 11 bankruptcy protection in a US court, the company said, amid heavy debt and a tough environment for bricks and mortar stores.The chain...
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Davaoeños to export lapu-lapu to Xiamen
DAVAO CITY, Philippines (UPDATED) – Exporters from Davao are entering into a deal with grouper fish importers from China, which would tap thousands of fishermen within the Davao Gulf, a business leader...
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After a decade, construction of MRT-LRT Common Station to begin in September
MANILA, Philippines – Of all of Manila's sprawling mega projects, the 13,700-square-meter (sqm) common station deal that will connect the Metro Rail Transit (MRT) and the Light Rail Transit (LRT) lines...
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Bayan Muna asks SC to compel telcos to refund P18-B 'excess' text fee
MANILA, Philippines – Leftist group Bayan Muna on Tuesday, September 19, filed a petition before the Supreme Court (SC) to compel telecommunications companies to return to subscribers P17.7 billion...
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Normal working day for BSP, banks on September 21
MANILA, Philippines – It will be a normal working day for the Bangko Sentral ng Pilipinas (BSP) and banks on Thursday, September 21, even after Malacañang suspended government work and classes in...
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After 2GO, SM group not looking to buy other logistics firms
MANILA, Philippines – SM Investments Corporation (SMIC), the newest investor in 2GO Group Incorporated, is not looking to expand in the logistics industry anytime soon.Frederic DyBuncio, SMIC president...
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Max's Restaurant set to open in Winnipeg, Canada in 2018
MANILA, Philippines – Casual dining giant Max's Group Incorporated (MGI) is continuing its international expansion by deepening its presence in Canada.In a disclosure to the Philippine Stock Exchange...
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SC orders BIR to refund P3.81 billion tax in power plant sale
MANILA, Philippines – The Supreme Court (SC) upheld a 2008 resolution ordering the Bureau of Internal Revenue (BIR) to refund P3.81-billion worth of taxes it allegedly illegally collected for the sale...
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Toys 'R' Us in PH unaffected by U.S. toy store chain's bankruptcy filing
MANILA, Philippines – For now, 34 stand-alone stores and 44 outlets of Toys "R" Us in the Philippines remain open, with their operations not affected by the bankruptcy filing of the toy store chain in...
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Senate files version of tax reform bill seen to exempt 3.2 M Filipinos from...
MANILA, Philippines – Following the House of Representatives' lead, the Senate has now passed its version of the tax reform bill which estimates that around 64% of workers will be exempt from paying...
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Landmark EU, Canada trade deal enters into force
BRUSSELS, Belgium – A landmark free trade deal linking EU and Canada went into effect on Thursday, September 21, despite lingering opposition from activists worried about the pact's consequences on the...
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