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Steady Philippine inflation of 3.2% in 2017 seen to rise on new tax rates
MANILA, Philippines – The country's consumer and producer prices logged steady growth in 2017, as faster increase in prices of corn, meat, fish, fruits, and cereals in the Philippines were offset by...
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Globe Telecom expects to spend over P42B this 2018
MANILA, Philippines – Globe Telecom Incorporated has set an $850 million (P42.38 billion) capital spending budget for 2018 alone, same level as last year, mainly to fund its commitment to provide fast...
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Former president of Japan's Toyota dies at 88
TOKYO, Japan – Toyota's former president Tatsuro Toyoda, who helped the Japanese auto giant establish a foothold in North America, has died at the age of 88, the company said Saturday, January...
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Different approaches to bitcoin in Asia
TOKYO, Japan – From clampdowns to a warm embrace, regulators in Asia have taken very different approaches to dealing with the bitcoin phenomenon. Here are the developments in a few key markets:Chinese...
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PSE named Southeast Asia's best stock exchange again
MANILA, Philippines – The Philippine Stock Exchange (PSE) was named the best bourse in Southeast Asia by institutional investment magazine Alpha Southeast Asia, citing its investments, literacy...
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DOF unit proposes 1,400% increase in casino entrance fee
MANILA, Philippines – The government's tax research unit proposed increasing entrance fees in Philippine Amusement and Gaming Corporation (Pagcor)-licensed or -operated casinos to P1,500, from the...
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Yuchengcos, Ayalas plan merger of education businesses
MANILA, Philippines – The Yuchengco and the Ayala groups on Monday, January 8, announced a planned merger of their education businesses, a major deal that could be finalized within the 1st quarter of...
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San Miguel to start building Southeast Metro Manila Expressway in April
MANILA, Philippines – The travel time from Quezon City to Taguig City is expected to be cut to 35 minutes once concessionaire San Miguel Corporation (SMC) is done with construction of the 34-kilometer...
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Higher electricity bills likely starting February due to tax reform
MANILA, Philippines – The tax reform package is many things, and one is an additional 8 centavos per kilowatt hour (kWh) on electricity rates for 2018.A Manila Electric Company (Meralco) official...
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ING Bank expects another 1% rise in 2018 inflation amid tax reform
MANILA, Philippines – Dutch financial giant ING Bank said the trickle-down effect of the implementation of the 1st package of the comprehensive tax reform program would translate to a 1% rise in...
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PLDT unit to forge strategic partnerships in Q1 2018
MANILA, Philippines – PLDT Incorporated unit Voyager Innovations Incorporated is set to sign strategic partnership deals with at least two foreign firms in the first quarter of 2018."It's going to be...
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Foreign direct investments in PH hit 16-month high in October 2017
MANILA, Philippines – The amount of foreign direct investments (FDIs) coming into the Philippines last October hit its highest level in 16 months, suggesting positive investor sentiment over the...
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DOE to gas stations: Don't take advantage of tax reform law
MANILA, Philippines – Inspectors from the government's oil industry bureau are randomly inspecting inventories of gasoline stations in the country to monitor if proper oil excise tax is being...
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Melco to launch luxury hotel brand in Macau and Manila
MANILA, Philippines – Melco Resorts and Entertainment Limited, the listed operator of integrated resort and gaming complex City of Dreams, is set to launch its new luxury hotel brand that will debut in...
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Ferrero nears deal for Nestle's U.S. candy operations
MILAN, Italy – Italy's Ferrero is closing in on a $2.8-billion deal for Nestle's US confectionary business, Bloomberg said Wednesday, January 10, amid signs a deal could be completed by Sunday, January...
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New German consultant tapped to assess 48 unused MRT3 cars
MANILA, Philippines – Germany-based TÜV Rheinland, the winning independent audit and assessment consultant for the Metro Rail Transit Line 3 (MRT3), will evaluate and recommend what to do with 48 train...
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Tax reform law seen to put brakes on PH's auto sales growth in 2018
MANILA, Philippines – The local auto boom that fueled record monthly sales for the past years is expected to wind down, after the government implemented new excise tax rates that are seen to sap...
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$380-million ADB loan to finance 11 infra projects in Mindanao
MANILA, Philippines – The Philippine government has obtained new loans totalling $380 million from the Asian Development Bank (ADB) to finance roads and bridges in Mindanao.The Department of Public...
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McDonald's Philippines goes cashless with PayMaya
MANILA, Philippines – PLDT Incorporated unit PayMaya Philippines has partnered with Golden Arches Development Corporation (GADC), which holds the exclusive franchise of McDonald's in the country, to...
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Ex-pager giant EasyCall sets up more data satellites in remote areas
MANILA, Philippines – Former pager giant EasyCall Communications Philippines Incorporated is ramping up the installation of two-way satellite communications system that can transmit and receive data to...
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