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EDSA bus rapid transit, Mindanao railway up for NEDA approval
MANILA, Philippines – Major transportation projects are among 10 projects worth P320 billion awaiting approval by the National Economic and Development Authority (NEDA) board.NEDA Director General...
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Calata partners with investment, gaming firms for P65B casino resort in Cebu
MANILA, Philippines – Listed agribusiness company Calata Corporation has partnered with a US-based investment group and a Macau-based gaming operator to create a real estate and investment trust (REIT)...
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HSBC sees peso improving to P45 to $1 by end-2016
MANILA, Philippines – Global financial giant Hong Kong and Shanghai Bank (HSBC) sees the peso strengthening against the dollar later this year as the Philippines has gotten over the hump of a tricky...
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Volkswagen reaches deal with suppliers
FRANKFURT, Germany – Troubled German car giant Volkswagen said Tuesday, August 23, it had reached a deal with suppliers to resume deliveries after a stoppage that forced the group to halt production at...
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Betting against the weather: PH imports 1M tons of rice and hopes it is enough
Buried in the uproar over extrajudicial killings, Philippine Economic Planning Secretary Ernesto Pernia quietly said last week that the government plans to import one million tons of rice before the...
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Security Bank to rejoin PSE
MANILA, Philippines – Security Bank Corporation is set to rejoin the Philippine Stock Exchange (PSE) index next month.The PSE said in a memorandum on Wednesday, August 24, that Security Bank will...
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World Bank presidency search opens with Kim's hat in ring
WASHINGTON, USA – World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday, August 23, as it announced the start of a selection process for the...
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PhilWeb plans to revive mobile lotto gaming
MANILA, Philippines – PhilWeb Corporation plans to revive its text-based lotto gaming project, after government-owned and -controlled Philippine Amusement & Gaming Corporation (PAGCOR) firmed up...
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Australian carrier Qantas soars to record profits
SYDNEY, Australia – Australian carrier Qantas on Wednesday, August 24, posted record annual profits and announced its first payout to shareholders in 7 years, staging a turnaround after axing jobs and...
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Henry Sy still PH's richest man for 9th straight year – Forbes
MANILA, Philippines – Mall tycoon Henry Sy topped Forbes Magazine's list of richest Filipinos for the 9th straight year.Forbes pegged the 91-year-old Sy's 2016 net worth at $13.7 billion, down from his...
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Youth unemployment swelling worldwide – ILO
GENEVA, Switzerland – The number of unemployed young people is set to swell by 500,000 worldwide this year to reach 71 million, marking the first hike in 3 years, the United Nations said Wednesday,...
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PH imports rise by 15.4% in June 2016
MANILA, Philippines – The Philippine economy maintained its appetite for imports in June and ended the first half of the year as one of Asia's most import happy countries.Data released by the National...
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With emergency powers, lighter Metro Manila traffic by 2019
MANILA, Philippines – Commuters and motorists will experience lighter Metro Manila traffic in two to 3 years if President Rodrigo Duterte is granted emergency powers to address the problem,...
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Megaworld spending P8.5B for hotel expansion
MANILA, Philippines – Andrew Tan-led Megaworld Corporation is spending P8.5 billion to expand its two hotel brands, Savoy and Belmont, in key cities across the Philippines.Megaworld told the Philippine...
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US nominates Kim for World Bank second term
WASHINGTON, USA – The United States on Thursday, August 25, threw its support behind World Bank chief Jim Yong Kim for a second term at the helm of the multilateral development lender."I am proud to...
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Uncertainty hounds online gaming in the Philippines
MANILA, Philippines – PhilWeb Corporation and Leisure & Resorts World Corporation saw their share price balloon on Thursday, August 25, 2016 – a day after President Rodrigo Duterte had a change of...
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Iran wants pre-sanctions oil market share – minister
TEHRAN, Iran – Iran wants its pre-sanctions share of the crude market, Oil Minister Bijan Zanganeh said on Friday, August 26, dampening the prospects of agreement on an output freeze at an OPEC meeting...
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UK trade envoy: Brexit opens door to new era of trade with PH
MANILA, Philippines – The Philippines and the United Kingdom (UK) have been in the international spotlight for less than celebratory reasons: Brexit for the latter, and questions about extrajudicial...
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PH business confidence in Q3 hits record high despite dip from Q2
MANILA, Philippines – Despite stellar economic growth in the first half of this year, the local business community’s confidence is down for the third quarter, according to the Bangko Sentral ng...
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South, southwest bus terminals to be opened in 2018
MANILA, Philippines – Two integrated bus terminals in the southern and southwestern parts of Metro Manila – worth around P6.5 billion ($140.30 million) combined – are set to be opened in 2018, which...
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