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Higher ad revenues lift ABS-CBN's net income
MANILA, Philippines – Higher advertising revenues from the 2016 Philippine elections lifted the net income of ABS-CBN Corporation by 34% to P761 million ($16.33 million) during the first quarter of the...
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Cebu Pacific sells 4 Airbus planes to Allegiant Air
MANILA, Philippines – The operator of the country's biggest budget airline, Cebu Pacific Air, is selling 4 Airbus A319 planes to the parent company of Las Vegas-based Allegiant Air.Cebu Air,...
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Property firms to gain from federalism – Vista Land
MANILA, Philippines – Property developers will likely benefit from federalism, one of the key campaign promises of presumptive president Rodrigo Duterte, said Vista Land & Lifescapes,...
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Toshiba posts $4.4B full-year loss on nuclear writedown
TOKYO, Japan – Toshiba said on Thursday, May 12, that it suffered a $4.4 billion full-year net loss as the troubled conglomerate booked a massive write-down of its US nuclear unit, but said the worst...
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San Miguel, Ayala report healthy net income in Q1
MANILA, Philippines – Listed conglomerates San Miguel Corporation (SMC) and Ayala Corporation saw their net income jump during the first quarter of 2016, riding on the strong performance of their core...
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Economic unrest fuels gold demand – industry body
LONDON, United Kingdom – Global gold demand surged in the first quarter as investors seeking refuge from financial unrest swooped on the commodity seen as a safe haven investment, the World Gold...
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Australia, US boost efforts to protect steelmakers
SYDNEY, Australia – Canberra and Washington will step up joint efforts to protect domestic steelmakers, Australian Prime Minister Malcolm Turnbull said Thursday, May 12, amid concerns about China...
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PH Competition Commission: Draft of rules and regulations now out
MANILA, Philippines – What the government hopes to be "game-changing legislation" is one step closer to coming into force.The Philippine Competition Commission (PCC) released the draft implementing...
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Walmart sues Visa over chip cards in US
NEW YORK, USA – US retail giant Walmart is suing Visa to give customers using chip-enabled debit cards in its US stores the right to punch in a PIN code.Walmart Stores said Visa's opposition to...
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Taiwan PC maker Acer's Q1 profit plummets
TAIPEI, Taiwan – Taiwan's struggling personal computer maker Acer said Thursday, May 12, its net profit fell 73% year-on-year in the first 3 months to March due to huge losses from foreign exchange.The...
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Sharp posts full-year loss; Hon Hai executive to take helm
TOKYO, Japan – Japanese electronics maker Sharp said Thursday, May 12, it suffered a $2.3 billion annual loss and released no forecast for the current business year as it assesses the impact of its...
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Global oil supply glut to 'shrink dramatically' this year – IEA
PARIS, France – A global oil glut that has sent prices tumbling is set to "shrink dramatically" later this year, as wildfires have disrupted Canada's output and demand in India soars, the International...
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Singapore Airlines full-year net profit more than doubles
SINGAPORE – Singapore Airlines said Thursday, May 12, its full-year net profit more than doubled on higher income from investments and reduced losses from associate companies as fuel expenses fell due...
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What's next for best-performing PH economy under Duterte admin?
MANILA, Philippines – In its year report last year, global research and consultancy firm the Oxford Business Group (OBG) highlighted aspects of the Philippines' exciting growth story. This year, the...
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BSP, JP Morgan optimistic about PH growth under Duterte
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and global investment bank giant JP Morgan expect the Philippines to continue its economic momentum under president elect Rodrigo...
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Honda full-year profit tumbles on airbag scandal
TOKYO, Japan – Honda Motor said Friday, May 13, its full-year net profit dropped by a third, pressured by the exploding airbag crisis at key supplier Takata that has led to a worldwide...
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Nissan CEO to scrap Mitsubishi deal if fuel scandal widens
YOKOHAMA, Japan – Nissan's top executive warned Friday, May 13, that he would kill a $2.2 billion offer to buy a major stake in Mitsubishi Motors if its fuel-economy cheating scandal spreads beyond...
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Apple invests $1B in China ride-hailing app Didi Chuxing
BEIJING, China – Apple said Friday, May 13, it has invested $1 billion in Chinese ride-hailing app Didi Chuxing, the bitter rival of US-based Uber, as the tech giant seeks to better understand its...
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SWIFT reports new 'sophisticated' bank hacker attack
BRUSSELS, Belgium – SWIFT, the global financial system used to move hundreds of billions of dollars a day, on Friday, May 13, said highly sophisticated hackers had gained access to a bank aiming to...
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Honda recalling millions more cars with Takata airbags
TOKYO, Japan – Honda said Friday, May 13, it would recall millions more cars equipped with airbags made by crisis-hit supplier Takata, in a widening of a scandal that has already led to the biggest...
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