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Ikea's enigmatic founder, Ingvar Kamprad, turns 90
STOCKHOLM, Sweden – Ikea founder Ingvar Kamprad, who built a global business empire with revolutionary flat-pack furniture and dallied with Nazism in his youth, turns 90 on Wednesday, March 30.Creator...
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Taiwan's Hon Hai seals Sharp takeover for $3.5B
TAIPEI, Taiwan (3rd UPDATE) – Taiwan's tech giant Hon Hai said Wednesday, March 30, it had finally sealed a takeover of Japanese electronics maker Sharp in a "historic" deal worth 389 billion yen ($3.5...
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Energy chief to Al Gore: PH already changing its energy thinking
MANILA, Philippines – Stung by climate change icon Al Gore’s remarks that the Philippines is too dependent on coal energy, the Department of Energy on Wednesday, March 30, highlighted its efforts...
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Xurpas net income up 20% for 2015
MANILA, Philippines – Listed consumer tech firm Xurpas Incorporated (PSE: X) saw its net income rise by 20% for the full year 2015, driven by mobile purchases and despite a slew of new investments...
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China overcapacity darkens Asia's 2016 growth prospects – ADB
BEIJING, China – Huge industrial overcapacity in China will drag on both the country's and the region's growth this year, the Asian Development Bank said Wednesday, March 30, cutting its forecast for...
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DOF fears closure of remittance shops abroad amid $81M heist
MANILA, Philippines — The Department of Finance (DOF) has expressed fears that more local banks might be forced to close remittance shops abroad, after the Philippines got involved in the...
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Boeing to cut 4,000 jobs in commercial aircraft retool
NEW YORK, USA – US aerospace giant Boeing will trim about 4,000 jobs in its commercial airplanes division as it seeks to cut costs and boost productivity, a company spokesman told the Agence...
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Italy cracks down on Philippine remittance agencies
MANILA, Philippines — Italy has one of the strictest anti-money laundering enforcement in Europe, with most Philippine remittance companies unable to comply, leading to the closure of their shops....
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Majority of Filipinos not dreaming of riches – NEDA survey
MANILA, Philippines – It turns out that most Filipinos don’t aspire to lead rich or extravagant lives – they just dream of a simple and comfortable life.This was one of the findings of a nationwide...
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William Go files 2 more forgery complaints vs Deguito, Torres
MANILA, Philippines – Two more criminal complaints for falsifying documents were filed against sacked Rizal Commercial Banking Corporation (RCBC) Jupiter-Makati branch manager Maia Santos-Deguito and...
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#AskTheTaxWhiz: Do we need to use BIR's electronic filing system?
Are we all required to pay taxes using the electronic filing and payment system (eFPS)? If not, can we opt to use either eFPS or eBIR? How do we use the eBIRForms? If we don't have sufficient cash to...
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Dubai announces first airport tax on passengers
DUBAI, United Arab Emirates – The emirate of Dubai, whose airport is the world's busiest for international passengers, announced Wednesday, March 30, it was introducing a tax on travellers to help...
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Kim Wong returns $4.63M to AMLC
MANILA, Philippines – Casino junket agent Kam Sin "Kim" Wong delivered $4.63 million to the Anti-Money Laundering Council (AMLC) office at the Bangko Sentral ng Pilipinas (BSP) headquarters in...
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Profits soar at China's big 3 airlines
SHANGHAI, China – China's 3 biggest airlines reported soaring net profits in 2015 despite the country's worst economic growth in a quarter of a century, as more Chinese traveled abroad.Cheaper jet fuel...
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Britain's remaining milkmen keeping tradition afloat
ST ALBANS, United Kingdom – Once a daily sight on every British street, a dwindling but resilient band of milkmen still go out at the crack of dawn to deliver bottles of fresh milk to the nation's...
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S&P lowers China outlook to negative
BEIJING, China – Ratings agency Standard & Poor's (S&P) cut its outlook on China from stable to negative on Thursday, March 31, warning that economic rebalancing was taking longer than...
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Grab, World Bank launch big data project to ease PH traffic
MANILA, Philippines – Ride-hailing platform Grab and the World Bank have teamed up to launch a big data-based initiative to help decongest the country's traffic.The partnership produced the OpenTraffic...
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Inflation up 1.1% in March
MANILA, Philippines – Inflation rose 1.1% in March 2016 from 0.9% in February due to increases in food and oil prices, said the National Economic and Development Authority (NEDA) on Tuesday, April...
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Osmeña: $17M unaccounted money seems to be with PhilRem
MANILA, Philippines – As the Senate blue ribbon committee ended on Tuesday, April 5, its fourth hearing on the Bangladesh Bank heist, Senator Sergio Osmeña III concluded that the $17 million still...
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SEC files raps vs 'agent' for using Facebook in shady deals
MANILA, Philippines – The Securities and Exchange Commission (SEC) has filed a criminal complaint with the Department of Justice (DOJ) against a woman allegedly selling securities from controversial...
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