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Can PH firms thrive without contractualization?
"Dati, kahit 5 months lang na kontrata, tatanggapin ko. Iniisip ko, mas okay na 'yun kaysa wala," said Maricon Tejol, a Human Nature merchandiser assigned to a supermarket in Makati.(In the past, I...
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ICT growth hanging in the balance amid elections – IDC
MANILA, Philippines – There's only a week left before the 2016 elections, and the Philippines' information and communications technology (ICT) growth is hanging in the balance, research firm...
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First US-to-Cuba cruise ship in decades sets sail
MIAMI, USA – The first US cruise ship bound for Cuba in half a century set sail from Florida on Sunday, May 1, marking a new milestone in the rapprochement between Washington and Havana.The Adonia, a...
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'Grown in Washington': The marijuana farms near US power hub
WASHINGTON DC, USA – Security cameras and barbed wire suggested this was the right place – the old warehouse on a dead-end street not far from the White House that hosts one of the handful of legal...
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Antonio Tiu sues AMLC head with perjury
MANILA, Philippines – Billionaire businessman Antonio Tiu last week filed criminal charges against Anti-Money Laundering Council (AMLC) Executive Director Julia Bacay-Abad for tagging him as the...
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5 key facts on a planned US-EU trade pact
PARIS, France – The European Union and United States are thrashing out plans for a vast free-trade zone, unifying rules and slashing tariffs to create a combined market of 850 million people.Here are...
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Italy, Japan urge G7 to spend for growth
FLORENCE, Italy – Italy and Japan want the upcoming summit of Group of Seven (G7) leaders to send a "strong signal" of support for using flexible budget policies to stimulate a slowing global economy,...
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Record profits put Ferrari in pole position for 2016
ROME, Italy – Italian luxury sports car maker Ferrari said on Monday, May 2, it clocked up its best profits ever in the first quarter, setting it up for record earnings for the full year 2016.Net...
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Philips says to spin off lighting branch in 'historic' IPO
THE HAGUE, Netherlands (UPDATED) – Electronics giant Philips announced Tuesday, May 3, it was floating its lighting arm on the stock market in a "historic" initial public offering, aiming to spin off...
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US woman sues Starbucks for $5M over ice in cold drinks
WASHINGTON, USA – A Chicago woman is suing Starbucks for more than $5 million, claiming the coffee giant is underfilling its popular hand-blended iced coffee, tea, and other drinks, making customers...
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China, Japan growth to slow sharply in 2016, IMF warns
HONG KONG, China – China and Japan's economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the...
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PLDT's Q1 net income dips as it continues digital pivot
MANILA, Philippines — The head of Philippine Long Distance Telephone Company (PLDT) said the 34%-decline in its net income in the first quarter of 2016 reflects the "difficult and complicated" process...
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Philippine economy to top ASEAN-5 in 2016 – IMF
MANILA, Philippines – Resilient domestic demand will boost the country's economic growth ahead of its major neighbors this year, said the International Monetary Fund (IMF) on Tuesday, May 3.The...
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Philippine presidential favorite Duterte causing market jitters
MANILA, Philippines – Philippine presidential favourite Rodrigo Duterte's vague economic plans and threats to kill thousands of criminals are spooking the financial markets, with one business leader...
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BMW races ahead to new quarterly records
FRANKFURT, Germany – German automaker BMW on Tuesday, May 3, said the road towards its full-year targets was clear after it clocked up record sales volumes and earnings in the first 3 months."The BMW...
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Tobacco tax hike to add billions to Australia's coffers
CANBERRA, Australia – Smokers in Australia could pay approximately Aus$40 (US$30) for a pack of cigarettes from 2020, under revenue-boosting budget measures announced Tuesday, May 3.The cost of...
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Eurozone growth forecast cut as global risks, Brexit loom
BRUSSELS, Belgium – The European Union (EU) cut Tuesday, May 3, its eurozone growth forecasts for this year, warning that global risks including the slowdown in China and the danger of Britain leaving...
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Estee Lauder to cut up to 1,200 jobs
NEW YORK, USA – US cosmetics giant Estee Lauder plans to cut between 900 and 1,200 jobs in a restructuring plan announced Tuesday, May 3, as it reported modestly lower quarterly earnings.The job cuts,...
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Saudi minister 'not satisfied' with female employment rate
RIYADH, Saudi Arabia – Saudi Arabia's labor minister is dissatisfied with the level of female employment in the conservative kingdom but their not being allowed to drive is not to blame, he said...
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Philippine economy ready for any president
MANILA, Philippines – If there's one thing that all businessmen and industry leaders agree on, it is that the Philippines has the flexibility to work with whoever the voters will elect as the country’s...
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