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PH exports fall by 3.9% in January 2016
MANILA, Philippines – Philippine exports fell by 3.9% in January 2016, with lower earnings from all major commodity groups, the National Economic and Development Authority (NEDA) said on Thursday,...
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Max's Group to bring Pancake House to Qatar
MANILA, Philippines – Max's Group, Incorporated, the largest casual dining company in the country, signed a deal to bring one of its leading restaurant brands, Pancake House, to Qatar – a move that...
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Amazon to launch air cargo service in US
NEW YORK, USA – Online retail titan Amazon is starting up its own air cargo service, laying down a challenge to companies like Fedex and UPS, which deliver much of its goods.Aircraft leasing firm Air...
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Siemens to cut 2,500 jobs in industrial division
BERLIN, Germany – German engineering giant Siemens said Wednesday, March 9, it would slash 2,500 jobs from its industrial division in a reorganization to cope with a slump in the oil and gas as well as...
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China behind global trade slowdown in 2015 – World Bank
WASHINGTON, USA – The slump in Chinese growth and its nascent economic transition was the key factor in a sharp slowdown last year in global trade, the World Bank said Wednesday, March 9.Trade, as...
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Volkswagen US chief steps down amid emissions scandal
NEW YORK, USA – Volkswagen's straight-talking US chief Michael Horn has quit the automaker as it struggles with the fallout of a massive pollution cheating scandal, a decision that caught the industry...
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Global volatility shaking up worldwide living costs – survey
SINGAPORE, Singapore – Yo-yoing currencies, spiraling inflation, and plunging commodity costs are shaking up the rankings of the world's most expensive cities, an annual survey said Thursday, March 10,...
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In crowded Cairo, ride-hailing apps leave cabbies fuming
CAIRO, Egypt – For 32-year-old banker Hani, it was always a nightmare riding in Cairo's battered taxis through traffic gridlock and thick exhaust fumes that sputter out of rickety vehicles.But with the...
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RCBC chief offers to go on leave
MANILA, Philippines – Rizal Commercial Banking Corporation (RCBC) president and CEO Lorenzo Tan has offered to go on leave following his bank's involvement in the $100-million bank heist in downtown...
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Ex-S&R owner to sue RCBC manager over heist
MANILA, Philippines — Filipino-Chinese businessman William Go plans to sue the Rizal Commercial Banking Corporation (RCBC) branch manager who linked him to the controversial $100-million Bangladesh...
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Ex-ambassador Antonio Cabangon-Chua dies
MANILA, Philippines – Businessman and former ambassador Antonio L. Cabangon-Chua died on Friday, March 11, his family announced.He was 81."Please join my family in praying for the peaceful repose of...
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Ex-PSE exec Jay Peñaflor denies stock scam before DOJ
MANILA, Philippines – The so-called "stock guru" accused of duping individuals into investing a total of P300 million ($6.43 million) in a stock scam has denied the allegation before the Department of...
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PLDT now owns 7.5% share in Kuala Lumpur's iflix
MANILA, Philippines — Philippine Long Distance Telephone Company (PLDT) now owns 7.5% shares in iflix. This, after it converted into ordinary shares its $15-million investment in the video streaming...
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RCBC branch manager not allowed to leave Philippines
MANILA, Philippines (UPDATED) – The Rizal Commercial Banking Corporation (RCBC) branch manager who exposed important details on the bank's involvement in the $100 Bangladesh Bank heist tried to leave...
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NEDA: More Filipinos employed in Jan 2016
MANILA, Philippines – The number of employed Filipinos increased at the start of the year, the latest Labor Force Survey (LFS) released by the Philippine Statistics Authority revealed.According to the...
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Sindicatum's 22-MW solar power plant opens at Clark Freeport
CLARK FREEPORT ZONE, Philippines – Singapore-based Sindicatum Renewable Energy Company (SREC) inaugurated last Friday, March 11, its 22-megawatt solar power plant in this former United States military...
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Strong US, weak world picture challenges Federal Reserve
WASHINGTON DC, USA – Federal Reserve policymakers will hold their finger away from the rate-hike trigger when they meet next week, analysts say, but chances are it could move a bit closer.Meeting after...
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IT revolution crucial to seeing PH through growth crossroads
MANILA, Philippines – As the saying goes, "Innovation is creative destruction." In the case of the Philippines, which has undergone an economic renaissance of sorts, it must destroy certain ingrained...
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San Miguel Corp, Telstra end joint venture plan
MANILA, Philippines – The country's most diversified conglomerate, San Miguel Corporation (SMC), and Australia's biggest phone and Internet provider, Telstra Corporation, have ended talks over a...
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Mexico's Cemex eyes $855-M IPO in the Philippines
MANILA, Philippines – Cemex Holdings Philippines, Incorporated, the local unit cement unit of Mexico's Cemex SAB De CV, is raising as much as P39.74 billion ($855 million) in what could be the biggest...
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