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OFW remittances grow, hit $2.3B in February
MANILA, Philippines – Money sent home by overseas Filipinos (OFWs) continued to grow in 2016, rising by 9% compared to last year to reach $2.3 billion in February.The result means that on a...
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Customs turns over 320,000 pairs of license plates to LTO
MANILA, Philippines – 320,000 pairs of Customs-held license plates long awaited by motorists have finally made their way to the Land Transportation Office (LTO).This allows the LTO to begin documenting...
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China steel output rises despite reduction pledges
BEIJING, China – Chinese steel output rose in March, official data showed Friday, April 15, despite repeated pledges by the world's top producer to cut capacity as the worldwide industry languishes...
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No guarantee of oil deal at Doha talks
KUWAIT CITY, Kuwait – Major oil producers meet this weekend to try to negotiate a production freeze to boost prices, but doubts remain about the likelihood of a deal with Iran refusing to sign...
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Economic slump worries as IMF, World Bank pledge action
WASHINGTON, USA – World finance ministers pledged to boost growth on Saturday, April 16, at International Monetary Fund (IMF) and World Bank Spring Meetings tainted by lingering worries about the...
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PAL Dubai-Manila flight diverts to India as passenger gives birth
MANILA, Philippines – A Philippine Airlines, Incorporated (PAL) flight from Dubai to Manila diverted to Hyderabad, India early Sunday, April 17, after a 40-year-old passenger gave birth in flight.PAL...
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Underspending still a challenge in the Philippines
MANILA, Philippines – Underspending remains a challenge in the Philippines, with disbursements for infrastructure and capital outlays in 2015 falling below target by 20%, according to the Department of...
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Gov't loses bid to revoke 2009 compromise deal with Sabido
MANILA, Philippines – The Sandiganbayan Fifth Division has rejected a government motion seeking the nullification of the December 11, 2009 compromise agreement that named businessman Peter Sabido as...
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Oil prices plunge after Doha output talks fail
SINGAPORE (3rd UPDATE) – Oil prices plunged on Monday, April 18, after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut, sparking fears it...
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Oil producers fail to agree output freeze
DOHA, Qatar – The world's top oil producers failed to reach agreement on capping output in Doha Sunday, April 17, amid a standoff between Saudi Arabia and Iran and raising fears about how markets will...
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PLDT ICT unit: Banks must step up measures vs cyber crimes
MANILA, Philippines – The information and communications technology (ICT) arm of the Philippine Long Distance Telephone Company (PLDT) – soon to be called PLDT, Incorporated– urged local banks to...
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#PHVote: Businesses winning, losing in 2016 elections
MANILA, Philippines – It is now a numbers game for businesses, as they count the costs and fortunes of a lengthy 90-day campaign season for the 2016 Philippine elections.The national campaign period,...
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IMF chief urges transparency to stop corporate tax avoidance
WASHINGTON, USA – International Monetary Fund chief Christine Lagarde called Sunday, April 17, for financial "transparency" among multinational companies to counter tax avoidance schemes in which...
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LIVE: Senate hearing on $81-M Bangladesh bank heist, Day 6
BOOKMARK THIS PAGE TO WATCH LIVE TUESDAY, APRIL 19, 10:30 AMMANILA, Philippines – The Philippine Senate will hold its 6th hearing on the Bangladesh Bank fund heist on Tuesday, April 19, at 10:30...
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China posts slowest quarterly growth on record – gov't
BEIJING, China – China's economy grew in the first 3 months of 2016 at its slowest quarter-on-quarter rate since it began releasing the data, the government said, while the real-estate sector rebounded...
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Saudi flag carrier to launch low-cost offshoot
RIYADH, Saudi Arabia – State-owned Saudi Arabian Airlines plans to launch a low-cost offshoot next year under initiatives to restructure the kingdom's oil-dependent economy, official media said on...
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Kim Wong returns another P200M to AMLC for safekeeping
MANILA, Philippines – Casino junket agent Kam Sin "Kim" Wong, through his company, on Monday, April 18, delivered another P200 million ($4.34 million) to the Anti-Money Laundering Council (AMLC) for...
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China wields increasing power in world wine market – study
PARIS, France – The global wine market grew almost 11% last year as China not only drank more wine but also produced more, the International Organization of Vine and Wine (OIV) said Monday, April 18.In...
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Notary public denies signing affidavit of PhilRem messenger
MANILA, Philippines – A notary public on Tuesday, April 19, denied signing the affidavit of the messenger of PhilRem Service Corporation, which the owners of the money transfer firm had presented as...
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UK Treasury warns of economic costs of Brexit
LONDON, United Kingdom – Britain will be "permanently poorer" if it leaves the EU in a June referendum and the cost to each household could be £4,300 (5,400 euros, $6,100) a year, finance minister...
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