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Local banks eye measures to counter online attacks
MANILA, Philippines – In the past, the banks' principal security worry was that their individual branches would be robbed even if the money stolen would be relatively small compared to their overall...
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PH external debt rises to $77.5 billion as of end-2015
MANILA, Philippines – The country's external debt increased by $1.9 billion or 2.5% in the 4th quarter of 2015, attributed to net borrowing of $1.8 billion mainly by private banks and firms to finance...
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2 more criminal complaints against Deguito, Torres to be filed 'very soon'
MANILA, Philippines — Two more criminal complaints for falsifying documents will be filed against Rizal Commercial Banking Corporation (RCBC) Jupiter-Makati branch manager Maia-Santos Deguito and...
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Western Union to launch remittance services to Cuba
NEW YORK, USA – US global payments company Western Union announced it would launch remittance services to Cuba on Monday, March 21, the second day of President Barack Obama's historic visit to the...
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Limited power restricts AMLC actions in Bangladesh Bank heist
MANILA, Philippines — With limited power, it took the Anti-Money Laundering Council (AMLC) 18 days to order Rizal Commercial Banking Corporation (RCBC) to freeze all accounts involved in the...
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RCBC fires bank manager, ex-assistant; eyes sanctions vs others
MANILA, Philippines – Rizal Commercial Banking Corporation (RCBC) announced on Tuesday, March 22, that it has fired bank manager Maia Santos-Deguito and senior customer relations officer Angela Torres...
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AMLC sues businessmen linked to Bangladesh Bank fund heist
MANILA, Philippines – The Anti-Money Laundering Council (AMLC) on Tuesday, March 22, filed a criminal complaint before the Department of Justice against two businessmen tagged in the alleged...
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How to safeguard the Philippines from dirty money
MANILA, Philippines — The flow of dirty money through Philippine banks and casinos can be stopped if government adds exemptions to bank secrecy and gives the Anti-Money Laundering Council (AMLC) the...
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Do malls, online shops mix? Zalora says Pinoys have best of both worlds
MANILA, Philippines – Like most disruptions in the past, the advent of ecommerce has been framed as a battle between online convenience and the traditional brick and mortar experience: your couch or...
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Qatar says Iran invited to talks on oil output freeze
DOHA, Qatar – Qatar said on Tuesday, March 22, that it has invited Iran to join talks among the world's top oil producers next month on implementing a proposed output freeze to stabilize plummeting...
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PH imports surge to highest growth in 5 years
MANILA, Philippines – Philippine imports recorded their highest monthly increase in 5 years last January, reversing the December 2015 decline on the back of strong demand for capital goods, raw...
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Century Pacific and Singapore's GIC to buy Shakey's Philippines
MANILA, Philippines – Conglomerate Century Pacific Group, Incorporated has partnered with Singaporean sovereign investor GIC to buy International Family Food Services, Incorporated (IFFSI), the owner...
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RCBC chief goes on leave amid Bangladesh bank heist probe
MANILA, Philippines (UPDATED) – Rizal Commercial Banking Corporation (RCBC) president and CEO Lorenzo Tan has gone on indefinite leave amid the probe into the $81-million stolen funds from Bangladesh...
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PNOC may proceed with BatMan pipeline without Congress OK
MANILA, Philippines – The Department of Justice (DOJ) said on Wednesday, March 23, that state-run Philippine National Oil Company (PNOC) has the right to enter into a contract with a private...
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GMA-7 partners with OSN, StarHub to expand global reach
MANILA, Philippines – Broadcast giant GMA Network, Incorporated has partnered with OSN and StarHub to make its international channels available in Singapore, North Africa, and the Middle East.Last...
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France's Hermes bags luxurious profits
PARIS, France – French luxury goods group Hermes said Wednesday, March 23, that net profit rose to skim the billion-euro mark last year despite an economic slowdown in China, the Paris terror attacks,...
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Learning to trade: Myanmar investors gear up for new bourse
YANGON, Myanmar – Inside the graceful halls of Myanmar's first modern bourse a huddle of business leaders crowds into a crash course on sharetrading, as the former junta-run country takes another leap...
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Oil slide, strong dollar drag Asian shares lower
HONG KONG, China – Asian shares dropped on Thursday, March 24, with energy stocks taking a hammering from a slide in oil prices while a stronger dollar piled pressure on commodity producers.Energy...
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Volkswagen recalls 800,000 vehicles worldwide
FRANKFURT, Germany – Embattled German automaker Volkswagen on Thursday, March 24, said it was recalling around 800,000 luxury sport utility vehicles worldwide over a potential footpedal problem.The...
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Postponing 7 PPP deals means delaying public service – PPP chief
MANILA, Philippines – When it comes to lagging public infrastucture, the Philippine government usually turns to the private sector for help, but not always with success. (READ: PH's PPP thrust: Work in...
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