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Philippine GDP grows faster than expected by 6.9% in Q3 2017
MANILA, Philippines (3rd UPDATE) – Even if government spending and the agriculture sector slowed down, the country's gross domestic product (GDP) grew faster than expected by 6.9% in the third quarter...
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Net income of Chelsea Logistics quadruples on 2GO acquisition
MANILA, Philippines – The newly-listed logistics firm of Dennis Uy, Chelsea Logistics Holdings Corporation, saw its net income quadruple to P405.7 million in the first 9 months of the year, after it...
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PLDT to nearly double int'l submarine cable capacity to 8.4 Tbps by 2019
MANILA, Philippines— Manuel V. Pangilinan led PLDT Incorporated said its investments will double its international cable system capacity to address the need for overseas data connectivity."Further...
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PH, Bank of China seal deal for $200-M 'Panda bond' offering
MANILA, Philippines— The Philippines is set to attract more Chinese money after it sealed a deal that paves the way for the its maiden offering of “Panda bonds."Panda bonds are bonds denominated in...
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#AskTheTaxWhiz: Will employees benefit from TRAIN?
When will the proposed tax reform bill be passed? When will it be implemented? Given all the investigations and other hearings in the Senate, can they really pass the TRAIN bill?The TRAIN (Tax Reform...
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AboitizPower expands hydroelectric business
MANILA, Philippines – The 8.5-megawatt (MW) hydroelectric power plant of Aboitiz Power Corporation in Isabela is set to begin commercial operations this November, in a bid to ramp up the company's...
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Embattled Toshiba to boost capital by $5.3-B share issuance
TOKYO, Japan – Embattled Japanese conglomerate Toshiba said Sunday, November 19, it plans to raise $5.3 billion by issuing new shares, a move aimed at avoiding a humiliating delisting from the Tokyo...
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Philippines' foreign aid disbursements decline in 2016
MANILA, Philippines – Disbursements of foreign aid declined by 49% in 2016, with the National Economic and Development Authority (NEDA) attributing this to the high base effect in 2015 and unmet...
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Megaworld to build P9-billion 'Makati-inspired' CBD in Cavite
MANILA, Philippines – Andrew Tan-led property developer Megaworld Corporation is betting on the growing development of Cavite, with plans of adding a new central business district (CBD) to the...
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Tugade refuses to resign over MRT3 woes
MANILA, Philippines – The case of a Metro Rail Transit Line 3 (MRT3) coach getting detached while the train was moving has prompted some lawmakers to urge Transportation Secretary Arthur Tugade to...
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Janet Yellen to depart U.S. Federal Reserve in February
WASHINGTON DC, USA – US central bank chief Janet Yellen announced Monday, November 20, she will leave the Federal Reserve in February once her successor as chair is sworn in.The decision comes less...
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U.S. sues to block $85-B AT&T-Time Warner merger
WASHINGTON DC, USA – The US government filed suit to block AT&T's merger with Time Warner, setting up a the biggest antitrust court clash in decades over the $85 billion tieup.The deal announced...
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China Mobile or China Telecom as Philippines' 3rd major telco?
MANILA, Philippines – Is it going to be China Mobile Limited or China Telecom Corporation Limited?Socioeconomic Planning Secretary Ernesto Pernia disclosed that two of China's top 3 telecommunications...
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BSP remains vigilant over potential economic overheating
MANILA, Philippines – The chief of the Bangko Sentral ng Pilipinas (BSP) said the Philippine economy has not overheated yet, but if it does show signs of overheating, the central bank would be ready to...
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BPI debuts 'fresh, bright' design for branches
MANILA, Philippines – Ayala-led Bank of the Philippine Islands (BPI) formally debuted a new design for its branches which it hopes would signify a new style of retail banking.On Tuesday, November 21,...
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DA: Q3 growth in palay production 'most notable' for agri sector
MANILA, Philippines – The Department of Agriculture (DA) on Tuesday, November 21, said the growth in palay production was the "most notable" in the performance of the agriculture sector during the 3rd...
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Foreign firms eyeing piece of San Miguel's food, beverage unit
MANILA, Philippines – San Miguel Corporation (SMC) said several foreign firms are courting the listed conglomerate to buy a piece of its consolidated food and beverage unit, soon to be known as San...
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Malacañang orders easing, lifting of foreign investment restrictions in 8 areas
MANILA, Philippines – Malacañang has ordered the National Economic and Development Authority (NEDA) and other agencies to "lift or ease" restrictions on foreign participation in certain areas of...
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Building projects through ODA not in conflict with PPPs – ADB
MANILA, Philippines – The future of public-private partnership (PPP) projects in the country looks rosy despite the government's focus on official development assistance (ODA), according to the Asian...
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Workers with good behavioral skills get better pay – study
MANILA, Philippines – More employers in the Philippines are finding it hard to search for workers with good behavioral skills, a recent study found.According to a World Bank report titled "Developing...
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