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China official says no plans to devalue yuan
SHANGHAI, China – China has no intention to devalue its currency, the country's vice president Li Yuanchao has said, following a sudden drop in the value of the yuan that spooked global markets this...
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Negros Occidental drought damages P143M worth of crops, livestocks
NEGROS OCCIDENTAL, Philippines – The continuing dry spell in Negros Occidental has resulted to P143.7 million ($3 million) worth of damage to crops and livestocks.As of Thursday, January 21, the Sugar...
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Asia stocks surge on central bank stimulus hopes
HONG KONG – Japanese stocks surged almost 6% Friday, January 22, leading an Asia rally, as dealers welcomed a report that the country's central bank is planning to ramp up its stimulus program and...
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Moody's lowers Philippine GDP forecast for Q4 2015
MANILA, Philippines – Despite a slower growth forecast of 5.9% in the last quarter of 2015, the Philippines still emerged as one of the fastest growing economies in Asia, a unit of Moody’s Corporation...
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Philippines gets credit rating upgrade from NICE
MANILA, Philippines — Seoul-based debt watcher National Information and Credit Evaluation (NICE) Investors Service upgraded the credit rating of the Philippines, allowing the country to tightly secure...
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Ayala, LT Group partner to build C5 mixed-use township
MANILA, Philippines – Property giant Ayala Land Incorporated and LT Group Incorporated of beer and tobacco tycoon Lucio Tan have entered into a partnership to develop a 35-hectare lot along the...
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Google to pay £130 million to Britain in back taxes
LONDON, United Kingdom – Technology giant Google is to pay £130 million ($185.4 million, 172 million euros) in back taxes to Britain following a government inquiry into its tax arrangements, a company...
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DOTC on surge in 2014 consultancy services: No fund misuse
MANILA, Philippines — The surge in the transportation department's consultancy spending under the helm of Transportation Secretary Joseph Emilio Abaya was due to an increase in infrastructure deals...
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Arab nations eye China, domestic market to revive tourism
MADRID, Spain – Arab nations are looking to Chinese visitors to revive their tourism sectors, battered by security fears, and also need to develop homegrown tourism as a lifeline, ministers from the...
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Metro Manila traffic 'most critical problem' of next gov't
MANILA, Philippines – Web designer Maria Zurbano kisses her 3-year-old daughter goodbye and sets out in the pre-dawn darkness for a torturous commute through the Philippine capital.Her ordeal, a return...
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How falling oil prices could be good for PH
MANILA, Philippines – Ask any stockbroker or economist what’s keeping them up at night and chances are you’ll get the reply: the oil price.It would come as no surprise as well since the plummeting...
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NEDA chief resigns, moves to new commission
MANILA, Philippines – National Economic and Development Authority (NEDA) Director-General Arsenio Balisacan has resigned and is set to become the first chairperson of the newly-formed Philippine...
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Hong Kong breaks record for least affordable housing – survey
HONG KONG, China – Hong Kong has the least affordable housing of 87 major global cities, with prices a record 19 times average pre-tax household income, a new survey said.Housing in the southern...
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BSP seeks to boost rural banks' competitiveness
MANILA, Philippines – With a new banking law expected to attract more big foreign banks into the country, the Bangko Sentral ng Pilipinas is considering unifying two programs to improve the...
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Aquino approves privatization of IBC-13
MANILA, Philippines – President Benigno S. Aquino III has approved the privatization of the government-owned Intercontinental Broadcasting Corporation (IBC-13) based on the recommendation of the...
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Cheap oil blackens outlook for global recovery
PARIS, France – Lower prices at the pump may be pleasing to American and European consumers, putting breeze in the sails of a limp economic recovery, but the plunge in crude prices has now become a...
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Philippines tops Asian peers in imports in November 2015
MANILA, Philippines – Topping its Asian neighbors, the Philippines ended November 2015 with a 10.1% surge in inbound shipment of goods, fueled by purchases of capital goods, consumer goods, and raw...
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Ayala to start building ITS-South terminal by September
MANILA, Philippines — The group of Ayala Land, Incorporated will start the construction of an integrated transport hub near the Food Terminal Incorporated in Taguig City by September 2016.This was...
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Ayala eyes expansion of healthcare business
MANILA, Philippines — The country’s oldest conglomerate Ayala Corporation plans to expand its investments in the healthcare sector with the roll out of 100 retail clinics under the brand-name FamilyDoc...
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Balisacan's challenge: Can he fight vested interests?
MANILA, Philippines – The keyword about the economy in recent times has been inclusive growth. And chances are you’d hear it more often than not from Arsenio Balisacan, the current socioeconomic...
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