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BSP launches InstaPay electronic fund transfer service
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) took a step closer to its goal of seeing electronic payments comprise 20% of all transactions in the country by 2020, with the launch of...
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Philippine economy to lose up to P1.96 billion over Boracay closure
MANILA, Philippines – The country's economy is estimated to lose P980 million per quarter or a total of P1.96 billion over the impending 6-month closure of Boracay, with Western Visayas to suffer the...
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PSBank names Jose Vicente Alde as president
MANILA, Philippines – Listed Philippine Savings Bank (PSBank), the thrift arm of the Ty family-led Metropolitan Bank & Trust Company (Metrobank), has a new man at the helm.The bank told the...
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Grab drivers won't see rider destination starting April 27
MANILA, Philippines (UPDATED) – To address mounting complaints, Grab Philippines said its drivers will no longer see the destination of their passengers before accepting bookings starting Friday, April...
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Philippines hopes to pass rice tariffication law in 2018
MANILA, Philippines – The government expects the rice tariffication bill to be passed into law by the 2nd half of the year, according to Socioeconomic Planning Secretary Ernesto Pernia.Under the...
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Bayan Muna asks SC to clarify TRO on retail electricity suppliers
MANILA, Philippines – The Bayan Muna party asked the Supreme Court (SC) to exclude anti-monopoly provisions from the blanket temporary restraining order (TRO) it imposed on the Retail Competition and...
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Philippines to borrow more from foreign lenders
MANILA, Philippines – The Philippine government is borrowing more than it initially expected from countries like China, Japan, and South Korea, citing "good" interest rates for major infrastructure...
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Hybrid power plant to rise in Puerto Princesa Subterranean River National Park
PUERTO PRINCESA, Philippines – Sabang Renewable Energy Corporation (SREC) on Tuesday, April 23, broke ground to launch Palawan’s first hybrid power plant with a micro-grid to fill the growing needs of...
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BDO to finance modern jeepneys
MANILA, Philippines – Sy family-led BDO Unibank Incorporated announced plans to finance the creation of modern and safer jeepneys as the government's public utility vehicle (PUV) modernization program...
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SM Group to expand, but not keen on telco
MANILA, Philippines – SM Investments Corporation, the listed conglomerate of the Philippines' richest man Henry Sy Sr, sets its sights this year on logistics, e-commerce, and other high-growth sectors,...
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Labor dispute resolved at Cavite electronics firm
MANILA, Philippines – A dispute between the management and workers of an electronics firm in Cavite was resolved with the intervention of the Department of Labor and Employment (DOLE).Lakepower...
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Ayala-led Manila Water bags P400-million deal in Bulacan
MANILA, Philippines – Ayala-led utility firm Manila Water Company Incorporated bagged a P400-million water project in Balagtas, Bulacan.Manila Water told the Philippine Stock Exchange (PSE) on...
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Cebu Pacific eyes 22 million passengers in 2018
MANILA, Philippines – Gokongwei-led Cebu Pacific set a high target for passengers this year despite the 6-month closure of Boracay, one of the country's top tourist draws."Cebu Pacific aims to fly 22...
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Bulacan airport, 7 other projects get NEDA Board approval
MANILA, Philippines – The P735.63-billion proposal of San Miguel Corporation to develop a 2,500-hectare airport in Bulacan, along with 7 other new infrastructure projects, got the final nod of the...
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Three Mindanao regions beat country's GDP in 2017
DAVAO CITY, Philippines – Three Mindanao regions outperformed the annual national economic growth rate in 2017, based on figures released by government statisticians in different cities here Thursday,...
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Puregold exits convenience store business with sale of Lawson
MANILA, Philippines – Lucio Co-owned Puregold Price Club Incorporated is exiting the convenience store business, 4 years after venturing into this space, with the sale of its entire 70% stake in...
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S&P raises credit rating outlook on Philippines
MANILA, Philippines – International debt watcher S&P Global Ratings raised its outlook for the Philippine economy, citing strong economic growth, healthy external position, and improving policy...
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Naming 3rd telco player won't happen before SONA – DICT
MANILA, Philippines – The government will not name the country’s 3rd major telecommunications player before President Rodrigo Duterte delivers his State of the Nation Address (SONA) in July, as the...
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Globe: 'System issue' affects services to prepaid, postpaid customers
MANILA, Philippines (3rd UPDATE) – Globe Telecom on Saturday, April 28, announced that a "system issue" affected its services to prepaid customers that morning."A system issue has been encountered...
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DPWH, Chinese firms sign contract for 2 Pasig River bridges
MANILA, Philippines – The Department of Public Works and Highways (DPWH) and two Chinese firms signed a contract on Friday, April 27, to implement two bridge projects along the Pasig River.The...
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