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Jobless soon: 400 consultants of scrapped 3rd telco player
MANILA, Philippines – Hundreds of workers were terminated by a telecommunications service provider that never even began transmitting signals in the first place."Your last day of service to the company...
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Megaworld unit spending P10B for 5 hotels in Boracay, Batangas
MANILA, Philippines – A subsidiary of property giant Megaworld Corporation is spending P10 billion to complete 5 hotels in its townships in Boracay and Batangas by 2019.Tourism and leisure township...
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Bank lending, liquidity up in May
MANILA, Philippines – The demand for credit continued rising in May with both bank lending and domestic liquidity expanding.Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on...
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Former finance dep't officials convicted of graft
MANILA, Philippines – Five former officials of the Department of Finance and a business executive were convicted for multiple counts of graft by the Sandiganbayan First Division, sentencing them to...
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Philippine stocks' early gains fade as inauguration euphoria ends
MANILA, Philippines – Shares in the Philippines pulled back on Thursday, June 30, as investors booked profits in stocks that had jumped when Rodrigo Duterte took his oath as the 16th president of the...
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Philippine Airlines income jumps more than six-fold
MANILA, Philippines – Once-troubled flag-carrier Philippine Airlines (PAL) on Thursday, June 30, announced a 560% jump in its "comprehensive income" for 2015, signalling a remarkable recovery after a...
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US urges immediate fix of some faulty Takata airbags
NEW YORK, USA – US auto safety regulators on Thursday, June 30, urged owners of 7 Honda and Acura models with especially defective Takata airbags to immediately have the cars fixed.Describing the...
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New DOF chief tells team: Drop 'fancy calculations,' be creative
MANILA, Philippines – On his first day in office, Finance Secretary Carlos Dominguez gave these marching orders to his team: do work a "litte more creatively" to ensure that economic growth is...
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Mondelez sets sights on chocolatier Hershey
NEW YORK, USA – US chocolate candy maker Hershey said Thursday, June 30, it had rejected a $23 billion takeover bid from snack-food giant Mondelez, whose brands include Cadbury chocolate bars and Lu...
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BSP had too much money, little storage space in 2015 – COA
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) experienced a shortage of storage space for new bills and coins in 2015, according to the Commission on Audit (COA).Based on a COA report...
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Expect huge infra spending, tax reform – Dominguez
MANILA, Philippines – Finance Secretary Carlos Dominguez III has a message to almost 200 countries' leaders: Expect huge infrastructure spending through an improved public-private partnership (PPP)...
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3 signs it is the perfect financial product
MANILA, Philippines – There are several financial products in the market – from insurance plans to real estate investments. It's easy to be overwhelmed by the number of options available.Coupled with...
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Energy chief to Gina Lopez: Let's find balance between coal and renewables
MANILA, Philippines – “We cannot just discount coal," Energy Secretary Alfonso Cusi said in reaction to Environment Secretary Gina Lopez’s advocacy to stop coal-fired power plants.Cusi said after the...
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Emerging currencies up as post-Brexit shock fades
TOKYO, Japan – Emerging market currencies rose Monday, July 4, as the shock of Britain's vote to quit the EU wore off, while the Australian dollar was under pressure after a general election produced...
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DOE chief Cusi: Arroyo, Aboitiz have nothing to do with my post
MANILA, Philippines – Some have raised eyebrows at the appointment of Alfonso Cusi as secretary of the Department of Energy (DOE), due to his ties with the family of former president Gloria Macapagal...
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DOE chief's goals: Lower power rates, 100% electrification
MANILA, Philippines – Lowering power rates and bringing electricity to remote areas are the tall orders for newly-installed Energy Secretary Alfonso Cusi.Cusi told the media after the Department of...
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Ongpin's PhilWeb seeks 3-day trading suspension
MANILA, Philippines – The online gaming firm of Roberto Ongpin, PhilWeb Corporation, sought for 3-day trading suspension of its shares citing "unverified material information" which has affected its...
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Dominguez: Ceiling on spending could be raised this year
MANILA, Philippines – The Duterte administration's plan to ramp up spending could be set in motion as early as this year.Newly-installed Finance Secretary Carlos Dominguez III said in a chance...
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PH cuts GDP growth target for 2016, 2017
This is a developing story. Please refresh the page for updates.MANILA, Philippines – The Philippines expects lower economic growth this year and in 2017, citing tapered election spending, slow...
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Inflation rises by 1.9% in June 2016
MANILA, Philippines – Inflation rose slightly in June due to an increase in both food and non-food items as well as the steadily rising price of oil.Data released by the Philippine Statistics Authority...
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