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Hans Sy retiring as SM Prime president
MANILA, Philippines – Hans Sy, the 60-year-old son of the country's richest man, is retiring as president of SM Prime Holdings Incorporated (SMPHI).SMPHI vice president for finance Teresa Cecilia Reyes...
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San Miguel buys out partner in $1.6B MRT7 project
MANILA, Philippines – Diversified conglomerate San Miguel Corporation has bought the remaining 49% stake owned by businessman Salvador Zamora in the $1.6-billion Metro Rail Transit Line 7 (MRT7)...
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Lufthansa reaches long-term no-strike deal with cabin staff
FRANKFURT, Germany – German airline Lufthansa on Tuesday, July 5, unveiled the details of a wide-ranging deal on pay and working conditions for its cabin staff, including a no-strike agreement and job...
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Uberpool in Manila: Adjusting to the metro's unpredictable traffic
MANILA, Philippines – Two weeks since its soft launch in Manila, Uber’s newest ride-sharing service has been enticing riders with the promise of cheaper fares – but it also has to contend with the...
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GT Capital plans to raise P12B to pay bank loans
MANILA, Philippines – GT Capital Holdings Incorporated plans to start raising P12 billion in September, mainly to pay the bank loans it used to finance its acquisition of an additional stake in...
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Chevron announces $36.8B Kazakh oil expansion
NEW YORK, USA – US oil giant Chevron announced Tuesday, July 5, a $36.8 billion expansion project in Kazakhstan, the first major investment in petroleum production to be greenlighted since the...
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Duterte admin to roll out stalled PPP deals by 2017 – NEDA chief
MANILA, Philippines – To address the horrendous Metro Manila traffic that has dragged down productivity, the government will "roll out" all stalled public-private partnership (PPP) projects by 2017,...
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US recalls 500,000 hoverboards over battery fire risks
WASHINGTON, USA – The United States announced Wednesday, July 6, the recall of more than a half-million hoverboards after scores of incidents in which the two-wheeled personal transporters erupted in...
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France, Luxembourg roll out red carpet for post-Brexit business
PARIS, France – British Prime Minister David Cameron once gleefully offered to "roll out the red carpet" for French executives wanting to escape staggering wealth taxes.Now, with London's red carpet...
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Fed was divided in June over hiking interest rates soon
WASHINGTON, USA – Federal Reserve policymakers were divided over whether US economic conditions would be strong enough to weather an interest rate increase soon, the minutes of the June 14-15 meeting...
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Trial run: LRT1 to extend operating hours for a month
MANILA, Philippines – To serve late-night commuters, the operator of the Light Rail Transit Line 1 (LRT1) said on Thursday, July 7, that it will do a trial run of longer operating hours for a...
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BOC chief: Release problem-free shipments in 5 hours
MANILA, Philippines – Customs Commissioner Nicanor Faeldon has set a 5-hour deadline for the release of shipments backed up by all documentary requirements.Faeldon gave the directive when he addressed...
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Samsung flags big jump in profit on strong S7 sales
SEOUL, South Korea – Samsung Electronics on Thursday, July 7, flagged its biggest operating profit in more than two years, boosted by cost-cutting efforts and solid sales of its latest flagship...
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DOTC chief's goal in 100 days: Cleaner toilets, faster WiFi at NAIA
MANILA, Philippines – On his first week as transportation chief, Arthur Tugade announced his first project: Letting local airlines maintain the 121 toilet facilities at the Ninoy Aquino International...
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Railways are not the way out of Manila traffic mess – expert
MANILA, Philippines – The traffic congestion in Manila has reached crisis proportions, but using executive powers to push a railway project will not quickly solve it, a group of transport experts...
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At start of 2nd term, Brexit crisis challenges IMF's Lagarde anew
WASHINGTON, DC, USA (UPDATED) – International Monetary Fund (IMF) chief Christine Lagarde says that Britain's vote to quit the European Union has injected significant uncertainty into the global...
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Market for men's personal care growing exponentially in PH – study
MANILA, Philippines – Filipino men are becoming increasingly particular when it comes to the products they shop for, especially personal care products.Filipino men now prefer facial care, deodorant,...
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A week after audit, DENR suspends 4 mining firms
MANILA, Philippines – A week after she ordered an audit on mining operations in the country, Environment Secretary Gina Lopez on Friday, July 8, announced the suspension of 4 mining companies for...
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Services disrupted: PLDT cables in QC hit by Globe Telecom digging
MANILA, Philippines (UPDATED) – PLDT Incorporated on Friday, July 8, told its subscribers within the vicinity of Quezon Avenue and Timog Avenue in Quezon City that its services in the area are...
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Microsoft leadership shake-up as veteran exec departs
SAN FRANCISCO, USA – Microsoft on Thursday, July 7, announced a shake-up in its top ranks, including the departure of longtime chief operating officer Kevin Turner for a new job.Microsoft chief...
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