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New MRT train expected to start running by end-March
MANILA, Philippines – Users of the Metro Rail Transit (MRT3) may soon see an improvement in their riding experience by March, with one new train expected to be up and running to ease the daily load of...
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BIR aims to collect 21% more taxes in 2016
MANILA, Philippines – The Bureau of Internal Revenue (BIR) is planning to collect 21.01% more taxes this year compared to 2015.The recently released Revenue Memorandum Order 2-2016 showed that the BIR...
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Even lesser pension hikes not feasible, says SSS president
MANILA, Philippines – After President Benigno Aquino III rejected the proposed P2,000 monthly pension hike last week, Social Security System (SSS) executives finally answered issues hounding the...
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Senate approves customs modernization act
MANILA, Philippines – The Senate on Monday, January 18, approved on 3rd and final reading the proposed Customs Modernization and Tariff Act (CMTA), which will put the country’s custom procedures in...
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French carmaker Renault vows to cut emissions levels
BOULOGNE-BILLANCOURT, France – French carmaker Renault on Monday, January 18, promised to come up with a "technical plan" over coming weeks to bring down harmful emissions of its vehicles.On Thursday,...
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China 2015 growth slows to weakest in 25 years – gov't
BEIJING, China (3rd UPDATE) – China's economy grew at its slowest pace in a quarter of a century last year as it undergoes a difficult transition, data showed Tuesday, January 19, escalating concern...
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MRT riders: Expect new fans, batteries by June, says DOTC
MANILA, Philippines – Thousands of passengers of the Metro Manila's most congested elevated railway are promised better ventilation and less technical glitches, after the transportation department...
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Philip Morris faces tax evasion case in Thailand
BANGKOK, Thailand – Tobacco giant Philip Morris is facing an eye-watering $2.2 billion fine if found guilty of dodging tax on cigarette imports to Thailand, prosecutors said Tuesday, January 19.The...
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Affordable energy crucial to reach 7% PH GDP growth – NEDA chief
MANILA, Philippines — If the Philippine government does not hasten the implementation of policies that will solve the problem of costly, low quality power supply, the country might not realize an...
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China's lowest growth for 25 years: What does it mean?
BEIJING, China – China's economy, the world's second largest, grew at its slowest pace in a quarter of a century last year, decelerating to expansion of 6.9%. International financial markets have been...
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Oil market could drown in over-supply – IEA
PARIS – The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market offsetting any production cuts from other countries, the...
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IMF cuts world growth forecast, warns of major risks
WASHINGTON, United States – The International Monetary Fund (IMF) warned of substantial risks in the major emerging market economies Tuesday, January 19, as it lowered its outlook for global economic...
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US crude hits new 12-year low below $28
SINGAPORE – US crude tumbled below $28 a barrel in Asia on Wednesday, January 20, hitting new 12-year lows, after the International Energy Agency (IEA) warned that the oil market could "drown in...
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Global unemployment set to rise through 2017 – ILO
GENEVA, Switzerland – Global unemployment rose in 2015 and is expected to worsen further over the next two years, the International Labour Organization said Tuesday, January 19 (Wednesday, January 20...
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Pacific trade deal to be signed off in New Zealand
WELLINGTON, New Zealand – The mammoth Trans-Pacific Partnership (TPP) trade deal will be formally signed in New Zealand next month, marking the end of negotiations on the agreement, officials in...
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Europe 'big 5' airlines launch new alliance
AMSTERDAM, Netherlands – In an unprecedented step, Europe's 5 largest airline groups including budget carriers EasyJet and Ryanair on Wednesday, January 20, launched a new alliance to combat rising...
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LTFRB orders jeepney fare cut anew
MANILA, Philippines — The Philippine land transport regulator gave a late Christmas gift to millions of commuters in Metro Manila and nearby provinces by reducing the minimum public utility jeepney...
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SBMA ends 2015 with 10-fold surge in spending budget
MANILA, Philippines – The Subic Bay Metropolitan Authority (SBMA) saw its capital spending budget surge by 10-fold last year after it addressed lack of funds in several infrastructure deals.SBMA...
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Meralco is top corporate taxpayer for 2014
MANILA, Philippines – Power retailer Manila Electric Co. (Meralco) topped the country's non-individual taxpayers for taxable year 2014, dislodging telecommunications giant Smart Communications...
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Cebu airport building up to be alternative gateway
CEBU, Philippines – With air traffic at the country’s premier airport in Manila getting worse everyday, the consortium that now runs operations at Mactan Cebu International Airport Administration...
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