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Microfinance loans hit P11.3B in 2015 – BSP
MANILA, Philippines – Microfinance, or financial services extended to low-income individuals or those with no access to formal banking, is thriving in the country, according to the Bangko Sentral ng...
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Philex clears hurdle in Silangan mine in Mindanao
MANILA, Philippines – Philex Mining Corporation, the country’s biggest gold producer, on Tuesday, May 17, finally received final government approval for the feasibility study on the $1.2-billion...
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Appeals court to CDC: Pay cash benefits of 455 Clark resort workers
PAMPANGA, Philippines – The Court of Appeals affirmed the 2014 decision of the National Conciliation and Mediation Board (NCMB) which ordered the Clark Development Corporation (CDC) to pay the...
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IMF: Iran at 'pivotal moment' to rejoin global economy
WASHINGTON, USA – The International Monetary Fund's number two official on Tuesday, May 17, told Iran that it faces a crucial opportunity to rebuild its economy and rejoin the global economy.However,...
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Currency wars, fiscal stimulus rift in focus at G7 meeting
TOKYO, Japan – Finance ministers and central bankers from the G7 meet in Japan this week for talks likely to highlight a sharp divide over currency policy and how to breathe life into the wheezing...
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Suzuki denies cheating on fuel, emissions testing
TOKYO, Japan (4th UPDATE) – Suzuki on Wednesday, May 18, admitted it found "discrepancies" in its fuel-economy and emissions testing, but the firm denied deliberately manipulating data to make cars...
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Crisis for South Korea shipbuilders as golden age fades
SEOUL, South Korea – After more than a decade of global dominance, South Korea's shipbuilders face an unprecedented crisis that threatens the very survival of one of the flagship industries of Asia's...
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GMA Network 'conservative' in P1.5B digital shift
MANILA, Philippines – GMA Network, Incorporated is taking a "conservative" stance on its close to P1.5-billion transition to digital broadcasting, with its chief saying the network is waiting for the...
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Businessmen hope for simplified processes under Duterte admin
MANILA, Philippines – Businessmen are hoping that the administration of president-elect Rodrigo Duterte would simplify business processes across the country, just as he had done in Davao City.Donald...
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PH GDP grows 6.9% Q1 2016
MANILA, Philippines (3rd UPDATE) – Exceeding market expectations, the Philippine economy grew by 6.9% in the first quarter of 2016, the Philippine Statistics Authority (PSA) announced on Thursday, May...
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Poverty rising in Europe, amid global dearth of solid jobs – ILO
GENEVA, Switzerland – A growing number of Europeans are living in "relative poverty," the UN labor agency said Wednesday, May 18, warning that a lack of quality jobs worldwide was threatening to undo...
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Fed minutes: Door still open for a June rate hike
WASHINGTON, USA – A surprisingly bullish view from the Federal Reserve on the possibility of raising interest rates next month sent the dollar higher and stocks tumbling on Wednesday, May 18.The...
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BSP provides relief to banks in El Niño-hit areas
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has decided to lend a hand to banks in provinces struggling with the El Niño phenomenon by exempting them from certain requirements. In a...
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PhilRem owners no-show in last Senate hearing on bank heist
MANILA, Philippines – The owners of PhilRem Service Corporation– dubbed the "cleaning house" in the $81-million Bangladesh Bank fund heist – did not show up during the last Senate probe into the...
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Only Kim Wong keeps promise to sign waiver on phone records
MANILA, Philippines – Kam Sin "Kim" Wong is the only key witness in the $81-million Bangladesh Bank fund heist who signed a waiver to give authorities access to his phone records.Sacked Rizal...
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Bayer, Monsanto in merger talks
FRANKFURT, Germany – German pharmaceuticals giant Bayer and the US group Monsanto said Thursday, May 19, they are in talks on a possible merger to create a global player in pesticides, seeds, and...
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Hard lessons learned as Senate ends bank heist probe
MANILA, Philippines – The Senate probe into Bangladesh Bank's stolen millions ended with an upset foreign envoy and hard lessons learned on how the Philippines' banking loopholes and its flawed...
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Rappler in Forbes Philippines' list of top tech startups
MANILA, Philippines – Two e-commerce shops, a listed mobile technology provider, and a social news network are among the Forbes Philippines' list of leading startups by gross revenue.In its May 2016...
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#AskTheTaxWhiz: Advice for Duterte’s first 100 days
Dear Mr. Tax Whiz,If you were to advise president-elect President Duterte on how to push genuine comprehensive tax reform in his first 100 days, what are the top 3 priorities he needs to consider? You...
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By leaps and bounds, the growing might of Asian-American consumers
NEW YORK, United States – From food to the Internet to pop culture, Asian-Americans are becoming a major force sweeping through the US consumer market.The 52-page annual Asian American Consumer 2016...
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