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Multinationals book more income in Bermuda than China – UN
GENEVA, Switzerland – Foreign multinationals in 2014 booked more profits in tiny Bermuda than in China, the United Nations (UN) revealed in a report Tuesday, May 3, likely to bolster growing...
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Saudi stock exchange to ease rules for foreigners
RIYADH, Saudi Arabia – Saudi Arabia's stock market regulator said Tuesday, May 3, it would ease rules for foreign investment on the bourse, as part of efforts to open its capital market under an...
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Brazilian prosecutors sue BHP, Vale for $43B over mine tragedy
SAO PAULO, Brazil – Brazilian prosecutors have filed a US$43.4 billion lawsuit against BHP Billiton and Vale over the Samarco mine dam burst that killed 19 and wreaked environmental havoc.The...
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Kim Wong completes turnover of $15M to AMLC
MANILA, Philippines – Casino junket agent Kam Sin "Kim" Wong has completed the promised turnover of about $15 million to the Anti-Money Laundering Council (AMLC)– an amount that is said to be part of...
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Nasdaq expands in PH, opens new BGC headquarters
MANILA, Philippines – Global exchange and financial technology firm Nasdaq inaugurated its new headquarters in Bonifacio Global City (BGC) on Wednesday, May 4, as it seeks to expand its presence in...
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Germany's Berenberg Bank in spotlight over Panama Papers
FRANKFURT, Germany – Berenberg Bank, one of the oldest and most venerable institutions in private banking in Germany, is finding its squeaky clean reputation coming under scrutiny in the wake of the...
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Riding on the Dubai property roller coaster
DUBAI, United Arab Emirates – For more than 10 years, Dubai property prices have been on a roller coaster, creating and wiping out fortunes, but recently they appear to have run out of steam.The Gulf...
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7 banks to pay $324M to settle suit alleging interest rate manipulation
WASHINGTON, USA – Seven big banks, including Bank of America, JP Morgan, Credit Suisse, and Deutsche Bank, have agreed to pay a total of $324 million to settle a lawsuit accusing them of market...
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Riyadh's $22.5B rail and bus project on track – governor
RIYADH, Saudi Arabia – A $22.5 billion urban rail and bus system for the congested Saudi Arabian capital is on track, Riyadh's governor said Wednesday, May 4, as other projects in the kingdom are...
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Merkel, Abe differ on how to fix world economy
MESEBURG, Germany – German Chancellor Angela Merkel and Japanese Prime Minister Shinzo Abe on Wednesday, May 4, disagreed on how best to kick-start the global economy ahead of a G7 meeting this...
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US orders recall of up to 40M more Takata airbags
WASHINGTON, USA – US auto safety regulators on Wednesday, May 4, ordered Japanese manufacturer Takata to recall between 35 and 40 million more airbags installed in US cars, in a push for the...
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GMA Network's net income doubles with election-related ads
MANILA, Philippines – Broadcast giant GMA Network, Incorporated saw its net income double to P1.01 billion in the first quarter of 2016, after getting a boost from election-related advertisements."We...
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Consumer lending up in 2015, hits P1 trillion – BSP
MANILA, Philippines – Continued economic growth has pushed up the level of bank loans to Philippine consumers in 2015, sustaining the year-on-year growth in consumer loans since 2008, according to the...
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Tesla accelerates to hit target of 500,000 cars yearly
SAN FRANCISCO, USA – Tesla is speeding the timeline for building half a million cars annually as it steps up production to meet growing demand for its electric vehicles.Hot demand for a new, more...
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Senate probe into Bangladesh Bank fund heist resumes May 17
MANILA, Philippines – After a 3-week pause, the Senate probe into the $81-million Bangladesh Bank fund heist will resume on May 17, focusing on transactions of 3 central parties involved.After 6...
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Uber assembles international insights in policy board
SAN FRANCISCO, USA – Uber on Wednesday, May 4, introduced a newly formed policy board that includes a former vice president of the European Commission, as the ride-sharing service navigates regulatory...
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Honda: Two more Takata-linked airbag deaths in Malaysia
KUALA LUMPUR, Malaysia – Two people have died in Malaysia after airbag inflators made by Japan's Takata exploded, carmaker Honda announced, raising the global toll to 13 in a scandal that has led to...
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China e-commerce giant Alibaba's quarterly revenue leaps 39%
SHANGHAI, China – Chinese e-commerce giant Alibaba's revenue surged 39% year-on-year in the first 3 months of 2016, the company said Thursday, May 5, its fastest growth in the last 4 quarters.Revenue...
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Malaysian investors told: Keep investing in PH beyond elections
MANILA, Philippines – Malaysian investors should continue investing in the Philippines even beyond June 30 – with its business process outsourcing (BPO) and remittance sectors bringing $60 billion by...
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Gucci apologizes over Hong Kong funeral fakes row
HONG KONG, China – Luxury fashion brand Gucci apologized Friday, May 6, after warning Hong Kong's funeral shops not to sell paper fakes of its products, traditionally burned as tributes to the...
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