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PCC voids merger of Dennis Uy's Udenna with 2GO shareholder
MANILA, Philippines – The Philippine Competition Commission (PCC) nullified Udenna Corporation's merger with a Dutch company that indirectly holds stake in 2GO Incorporated's parent firm, after they...
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PH gov't releases draft guidelines for 3rd telco auction
MANILA, Philippines – Companies vying to be the country's 3rd major telecommunications player should have at least P10 billion in net worth, a congressional franchise, proven technical capability, and...
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Manila Water expands into Thailand
MANILA, Philippines – Ayala-led water distributor Manila Water Company Incorporated (Manila Water) continued its march into Asia by establishing a foothold in Thailand.In a disclosure to the Philippine...
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Dennis Uy's Udenna to challenge PCC decision or file notification
MANILA, Philippines – Udenna Corporation, holding firm of tycoon Dennis Uy, is studying whether it will challenge the Philippine Competition Commission (PCC) decision to void its purchase of 2GO...
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BPO property demand in Philippines seen to rebound, then stay flat
MANILA, Philippines – After it took a beating last year, property demand from business process outsourcing (BPO) firms in the country is expected to rebound this year and then stay flat in the next two...
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Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012
MANILA, Philippines – Once again, the Philippines is the chosen venue for the high-profile Asian Development Bank (ADB) annual governors' meeting. But compared to 2012, the government will spend much...
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NGCP, DICT agree to partner for National Broadband Program
MANILA, Philippines – The National Grid Corporation of the Philippines (NGCP) and the Department of Information and Communications Technology (DICT) will team up for the planned National Broadband...
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7% economic growth 'very achievable' this year – BPI
MANILA, Philippines – Economic growth on par with the world's fastest growing countries is on the cards for this year despite the peso continuing to slide, according to the Bank of the Philippine...
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PH Competition Commission eyes raising threshold for merger review
MANILA, Philippines – The Philippine Competition Commission (PCC) is considering raising the P1-billion threshold for reviewing merger and acquisition (M&A) deals in the country, after inflation...
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Text of revised Trans-Pacific Partnership released
WELLINGTON, New Zealand – Details of a revamped cross-Pacific pact aimed at slashing trade barriers were released Wednesday, February 21, amid a renewed push for the United States to rejoin the...
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Italian insurer Generali refocuses on lucrative PH market
MANILA, Philippines – Global insurance giant Generali Group has reemerged to focus on potentially lucrative gaps in the Philippine insurance market.The Italy-based group had a 17-year partnership with...
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Philippine Airlines' P20-billion NAIA terminal proposal takes a back seat
MANILA, Philippines – The P20-billion proposal of Lucio Tan-led Philippine Airlines (PAL) to build a new passenger terminal at the Ninoy Aquino International Airport (NAIA) is taking a back seat, after...
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NEDA seeks to strengthen trade ties with U.S.
MANILA, Philippines – The Philippine government plans to implement measures aimed at strengthening its ties with the United States, said the National Economic and Development Authority (NEDA), after it...
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PH Competition Commission approves land, energy joint ventures
MANILA, Philippines— The Philippine Competition Commission (PCC) approved two deals that will see a mixed-use development rise in Cavite and more hydropower projects in Ifugao province.In a statement...
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BSP Monetary Board member Valentin Araneta dies
MANILA, Philippines – Prominent banker and Bangko Sentral ng Pilipinas (BSP) Monetary Board member Valentin Araneta died on Wednesday, February 21. He was 69.Araneta had joined the central bank's...
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#AskTheTaxWhiz: Withholding tax
I paid for the professional services of an accountant and saw a line item that says "withholding tax of 15%" on one of the receipts issued to me which was dated 2017. Is this correct?Yes. However, due...
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Foreign investment pledges down 51.8% in 2017
MANILA, Philippines – Total foreign investment pledges for the Philippines fell by more than half in 2017, according to the Philippine Statistics Authority (PSA).Data released by the PSA on Thursday,...
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P1-B tax evasion complaint filed vs PH franchisee of Dunkin Donuts
MANILA, Philippines (UPDATED) – The Bureau of Internal Revenue on Friday, February 23, filed a P1-billion tax evasion complaint against Prieto-owned Golden Donuts, Incorporated (GDI), the Philippine...
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NOW Telecom gets 25-year franchise extension amidst battle for 3rd telco player
MANILA, Philippines – Mel Velarde-led Now Corporation (NOW) has seen its affiliate NOW Telecom Company Incorporated’s (NOW Telecom) franchise extended by the government as the search for the third...
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BSP governor recovering from tongue cancer
MANILA, Philippines – Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr is now recovering from early-stage tongue cancer, which he was diagnosed with 3 months ago."Unfortunately, I got a...
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