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Ilocos Region ready to be alternative to Boracay
ILOCOS SUR, Philippines – Even before Boracay was closed, tourists have been gravitating towards the North.This was because of the construction of the Tarlac-Pangasinan-La Union Expressway which has...
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BSP issues new rules to protect credit cardholders, spur entry of new players
MANILA, Philippines— The Bangko Sentral ng Pilipinas (BSP) has issued new rules for credit card issuers that gives customers more protection while also opening up the market to potential new...
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Ramon Ang: SMC can self-finance proposed P700-B Bulacan airport
MANILA, Philippines – San Miguel Corporation (SMC) is bullish on the prospects of its proposed new airport in Bulacan, saying it can even self-finance the P700-billion project.The National Economic and...
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NFA awards 250,000 MT rice supply to Thailand, Vietnam
Manila, Philippines-- The National Food Authority (NFA) has awarded the supply of 250,000 metric tons of rice imports to Vietnam and Thailand.The NFA reopened the tender for government-to-government...
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'Can you lend more?' Duterte asks ADB to fund more infra projects
MANILA, Philippines – President Rodrigo Duterte asked the Asian Develoment Bank (ADB) to offer more loans to finance his Build, Build, Build infrastructure program."I've never had a crowd with so much...
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Majority of Filipinos still have no bank account – World Bank
MANILA, Philippines – Only 34.5% of Filipinos 15 years old and above have a formal bank account, according to the latest database on financial inclusion researched by the World Bank.Formal account...
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After Clark, AirAsia developing hubs in Puerto Princesa, Bohol
MANILA, Philippines – With a goal of increasing its fleet to 70 jets, Philippines AirAsia Incorporated is developing hubs in Puerto Princesa, Palawan and Panglao, Bohol, which are two of the country's...
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Globe Telecom open to partnering with PLDT for cell tower firm
MANILA, Philippines – Globe Telecom Incorporated is open to partnering with rival PLDT Incorporated for the proposed independent company that would build and deploy cellular towers in the...
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Nestle pays $7.15 billion to sell Starbucks products
ZURICH, Switzerland (3rd UPDATE) – Swiss food giant Nestle announced on Monday, May 7, it will pay $7.15 billion in cash for the rights to market Starbucks products around the world, outside of the...
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Rice, corn output up in first quarter of 2018
MANILA, Philippines (UPDATED) – Rice and corn production improved during the first quarter of the year, according to Agriculture Secretary Manny Piñol. Some 4.7 million metric tons of rice were...
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BPI posts flat net income of P6.25 billion in Q1 2018
MANILA, Philippines – The Bank of the Philippine Islands (BPI) saw a flat net income of P6.25 billion during the 1st 3 months of 2018, due to lower non-interest income as well as higher costs and...
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LOOK: Duty Free Philippines to open luxury store at SM Mall of Asia complex
MANILA, Philippines – Duty Free Philippines Corporation (DFPC) announced on Monday, May 7, it would be opening in June a luxury store at the SM Mall of Asia complex in Pasay City and another outlet at...
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PCC approves merger of Dennis Uy's Udenna with 2GO shareholder
MANILA, Philippines – The Philippine Competition Commission (PCC), the country's antitrust agency, approved Udenna Corporation's merger with a Dutch company that indirectly holds a stake in 2GO...
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Philippines' forex buffer hits 3-year low in April
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) announced that the country's foreign exchange buffer hit a new 3-year low in April 2018, dragged by strong outflows and the weaker local...
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PLDT unit seals partial sale of Rocket Internet stake
MANILA, Philippines – A unit of PLDT Incorporated sold bulk of its shares in Rocket Internet SE, a German investor in technology start-ups, for a total of about €163.2 million (P10.10 billion), with...
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Robinsons Land partners with Hong Kong firm for residential project
MANILA, Philippines – Robinsons Land Corporation, the property arm of the Gokongwei group, partnered with Hong Kong Land Group (HKLG) to develop a P5.6-billion residential project in Pasig...
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Petron gets income boost from Bataan refinery
MANILA, Philippines – Oil giant Petron Corporation marked its highest quarterly net income in history, reporting P5.8 billion for the 1st 3 months of 2018, up by 4% in the same period a year...
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Grab plans to impose fee on riders who cancel trips
MANILA, Philippines – Ride-hailing company Grab Philippines is planning to impose a fee on riders for trip cancellations.In a media briefing on Tuesday, May 8, Grab Philippines marketing head Cindy Toh...
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BSP revokes licenses of money changers linked to pork barrel scam
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) revoked the licenses of two foreign exchange dealers linked to the pork barrel scam allegedly masterminded by Janet Lim Napoles.The central...
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Max's Group prefers franchises over company-owned stores
MANILA, Philippines – The 72-year-old Max's Group Incorporated (MGI) wants more franchises than company-owned stores in a bid to aggressively expand its footprint here and abroad, and at the same time,...
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