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In EU first, Uber suspends Hungary service
BUDAPEST, Hungary – Embattled US ride-hailing service Uber announced Wednesday, July 13, its first suspension in an EU country, saying its will halt operations in Hungary on July 24 because of new...
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PH seeks to expand insurance coverage for the poor
MANILA, Philippines – Looking for ways to help the poor in the face of climate change, the Philippines has taken a leading role in the promotion of innovative forms of insurance specifically designed...
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Reed Bank exploration: Philex Petroleum may seek new foreign partner
MANILA, Philippines – Philex Petroleum Corporation may look for a new foreign partner should the new administration give the mining company the go-signal to explore oil and gas prospects at the Reed...
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US challenges China over raw materials duties at WTO
WASHINGTON, USA – The United States challenged China at the World Trade Organization (WTO) on Wednesday, July 13, over Beijing's export duties on 9 raw materials, alleging they give an unfair...
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Farnborough reels as Airbus slashes superjumbo output
FARNBOROUGH, United Kingdom – The aircraft sector hit turbulence Wednesday, July 13, as European giant Airbus slashed output of its A380 superjumbo because of weak demand, putting the brakes on plane...
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US economy still tracking 'modest' growth – Fed report
WASHINGTON, USA – The US economy was still growing at a mostly modest pace in recent weeks, though there were signs of a slowdown in consumer spending, the Federal Reserve reported Wednesday, July...
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San Miguel: No plans to look for MRT7 partner
MANILA, Philippines – Diversified conglomerate San Miguel Corporation (SMC) has no plans to get a new partner for the $1.6-billion Metro Rail Transit Line 7 (MRT7) deal, after it recently bought out...
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Breed okra, capture $100M Japanese market
MANILA, Philippines – The Philippines’ largest business group sees a fruitful business opportunity from breeding okra and soybean vegetable (edamame): A projected $100-million Japanese market in 5...
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California rejects Volkswagen plan to fix 3-liter diesel cars
WASHINGTON, USA – California regulators on Wednesday, July 13, rejected a plan by Volkswagen to fix some 16,000 diesel vehicles involved in the carmaker's costly emissions-cheating scandal.The measures...
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Taiwan's TSMC to get iPhone 7 revenue boost – analyst
TAIPEI, Taiwan – The world's biggest contract microchip maker by revenue predicted Thursday, July 14, a 3rd quarter growth boost, with analysts saying it would benefit from Apple's new iPhone series...
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Presidential adviser eyes lease of Busuanga Island to corporations
MANILA, Philippines – Newly-appointed Presidential Adviser on Economic Affairs and Information Communication Technology Ramon "RJ" Jacinto wants Busuanga Island in Palawan to become a "business utopia"...
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DTI chief downplays Hague ruling impact on trade
MANILA, Philippines – New Department of Trade and Industry (DTI) Secretary Ramon Lopez has soothed fears that the Permanent Court of Arbitration (PCA) ruling in favor of the Philippines against China...
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Tech community honors 'rebels' at Rice Bowl startup awards
MANILA, Philippines – The local tech community came together to honor the achievements of its best and brightest as they prepare to take on the rest of Southeast Asia.The occasion was the first-ever...
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TV5's Cherie Mercado is new transportation spokesperson
MANILA, Philippines – Cherie Mercado on Friday, July 15 left her post as news anchor of TV5’s Aksyon Sa Tanghali to be the new spokesperson of the transportation department.“Yes, once the appropriate...
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DOF moves deadline for transfer of gov't deposits
MANILA, Philippines – Government agencies as well as government-owned and-controlled corporations (GOCCs) now have until June 30 next year to transfer their bank deposits to qualified government...
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Tugade open to unsolicited proposals for new airport
MANILA, Philippines – Transportation Secretary Arthur Tugade said his office is in talks with several investors who are interested to build another international airport to serve as the nation's...
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ADB: Asia's developing economies unscathed despite Brexit, weak US
MANILA, Philippines – The developing economies of Asia-Pacific are poised to weather the Brexit storm as well as weaker US growth, according to a new report by the Asian Development Bank (ADB).The ADB...
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Regular metered taxis now allowed at all NAIA terminals
MANILA, Philippines – Regular white metered taxis are now allowed to enter and pick up passengers at the arrival areas of all terminals of Ninoy Aquino International Airport (NAIA), a transportation...
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Election spending boosts 7-Eleven income
MANILA, Philippines – Philippine Seven Corporation, the local franchise holder of convenience store chain 7-Eleven, saw its net income for the first 6 months of the year grow by 32.5% to P472.3...
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Oil price rollback set for July 19
MANILA, Philippines – Despite a gradual recovery in international oil prices in the past month, local oil firms have announced another round of price cuts for petroleum products starting Tuesday, July...
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