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Japan dessert firm offers 'apology' for 9-cent ice cream price hike
TOKYO, Japan – Somber-looking executives at a Japanese frozen dessert maker have appeared in a national television advert to apologize for raising the cost of a popular ice cream – by 9 cents.Akagi...
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Bangladesh envoy dismayed, witnesses stonewalled at 4th Senate probe
MANILA, Philippines – The person behind the $81-million Bangladesh Bank stolen fund coursed through the Philippines remains a mystery, as key witnesses and resource persons continue to "stonewall and...
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Global recovery 'too weak, too fragile' – IMF chief
FRANKFURT, Germany – Global economic recovery is still "too slow" and "too fragile" in the face of growing risks from a slowdown in China and subdued growth in developing economies, International...
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Tiny Djibouti thinks big with China-backed infrastructure splurge
DJIBOUTI, Djibouti – The tiny Horn of Africa nation of Djibouti, which votes Friday, April 8, in presidential elections, is hitching its wagon to the star of neighboring Ethiopia with a series of...
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Air New Zealand's direct Manila-Auckland flights start December
MANILA, Philippines – Following the lead of Philippine Airlines (PAL), Air New Zealand announced on Wednesday, April 6, that it will begin direct flights between Manila and Auckland starting in...
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Turnover of Bangladesh's missing millions will 'take a little time'
MANILA, Philippines – It will "take a little time" before the central bank of Bangladesh – a lower middle income nation and one of the world's most densely populated countries – can take back a portion...
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BSP: Banks bear 'ultimate responsibility' in avoiding dirty money
MANILA, Philippines – With the Philippines capturing the world's attention in the fallout of the $81-million Bangladesh Bank fund heist, the country's central bank reminded all local banks that it is...
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Strong dollar, mild weather shrink H&M profits
STOCKHOLM, Sweden – Swedish clothing retailer Hennes et Mauritz (H&M) on Wednesday, April 6, posted first quarter profits down almost 30% on a strong dollar and mild weather hitting its winter...
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Mango lager? India's thirst for craft beer grows
BANGALORE, India – India's version of craft brewing is seeing scores of thirsty tipplers sample everything from coconut stout to mango lager, as tastes mature in a country that has traditionally only...
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White House tax moves sink massive Pfizer-Allergan merger
NEW YORK, USA – Moves by the Obama administration to protect the US tax base torpedoed the massive $160 billion merger of drug giants Pfizer and Allergan on Wednesday, April 6.Pfizer said the deal...
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Panama urges talks to avert financial crackdown
PANAMA CITY, Panama (UPDATED) – Panama is fighting off a feared international crackdown on its pivotal finance sector, calling for talks to calm a worldwide storm sparked by revelations of its role in...
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Nokia moves to cut jobs following Alcatel-Lucent merger
HELSINKI, Finland – Finnish telecom equipment giant Nokia said on Wednesday, April 6, it was opening talks with staff representatives in some 30 countries about cutting jobs to save money following its...
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SWIFT on $81M bank heist: Our system wasn't breached
MANILA, Philippines – The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging network, said it was not at fault in the remittance of the stolen $81-million...
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Gokongwei-Pe, Sy-Coson on Forbes Asia list of top businesswomen
MANILA, Philippines – Robina Gokongwei-Pe and Teresita Sy-Coson, scions of two of the country's richest men, are among the 50 women on Forbes Asia's Power Businesswomen 2016 list.This is the first time...
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Residents protest proposed coal plant in Cebu City
CEBU CITY, Philippines – Protesters trooped to the Cebu City Hall on Wednesday, April 6, to challenge a coal plant set to be built in Barangay Sawang Calero.About 150 residents and environmental...
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Despite polls, business execs optimistic about 2016
MANILA, Philippines – As the impending elections loom large over the economy, leaders of the country's largest firms are optimistic that 2016 growth will be better than last year's.Results of the...
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Negros Occidental incurs P387.42M losses due to dry spell
NEGROS OCCIDENTAL, Philippines – The persisting dry spell in the province has left P387.42 million worth of damage to crops, livestock and fisheries.As of Thursday, April 7, the Office of the...
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WTO cuts 2016 global trade forecast to 2.8%
GENEVA, Switzerland – The World Trade Organization on Thursday, April 7, revised its 2016 global trade forecast downward by more than one percentage point, warning that a slowdown in China and broad...
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Tesla Model 3 orders hit 325,000
NEW YORK, USA – Orders for Tesla's Model 3, its first mass-market electric aimed at taking the upstart automaker into the mainstream, have reached 325,000, Tesla said Thursday, April 7.The mark was hit...
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MPIC on toll hike petitions: Taxpayers bear brunt
MANILA, Philippines – The private concessionaire of Luzon's major expressways asked the government to come up with a decision for its toll hike petitions as soon as possible – or else, the taxpayers...
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