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Cancelled flights due to Typhoon Ferdie
MANILA, Philippines – Several airlines cancelled flights as Typhoon Ferdie (Meranti) battered Taiwan and extreme Northern Luzon.The Manila International Airport Authority (MIAA) announced that the...
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Electronic clearing of checks to start January 2017 – BSP
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) announced it will begin electronic clearing of checks on January 20, 2017.The central bank issued Memorandum No. 2016-012 on Wednesday,...
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Gov’t eyes higher taxes for 'ultra-rich' earning over P5M a year
MANILA, Philippines – People earning at least P5 million ($105,400) a year face higher taxes as the Finance Secretary Carlos Dominguez III bared a plan to hike their personal income tax rate.Dominguez...
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Bayer buys Monsanto for $66B after months-long pursuit
FRANKFURT, Germany – German chemicals giant Bayer said on Wednesday, September 14, it had agreed to buy the controversial US seeds and pesticides firm Monsanto for $66 billion, in a deal that triggered...
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China says grain subsidies abide by WTO rules
BEIJING, China – China's rice, wheat, and corn subsidies are in line with World Trade Organization (WTO) rules, Beijing's commerce ministry said after Washington launched legal action against what it...
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BSP eases forex limits for consumers, corporations
MANILA, Philippines – The Bangko Sentral ng Pilipinas has dialed back restrictions on foreign exchange (forex) by consumers and firms in a move seen to bring more of these transactions to the regular...
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OFW remittances down 5.4% in July
MANILA, Philippines – Remittances from overseas Filipino workers (OFWs) dropped in July as low global oil prices and a sluggish global economy took their toll on OFW deployment overseas.Data released...
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WB chief Kim heads for 2nd term due to lack of other nominees
WASHINGTON, USA – World Bank President Jim Yong Kim effectively won a second 5-year term after nominations to lead the global development bank closed Wednesday, September 14, with no other candidates...
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First NEDA board under Duterte okays 9 infra projects
MANILA, Philippines – The new administration took the first steps toward delivering on promises of more spending after green-lighting 9 projects after the first board meeting on September 14 of the...
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Samsung says sold off shares in four tech firms
SEOUL, South Korea – Samsung Electronics said Sunday, September 18, that it had sold shares it held in 4 technology companies including US chipmaker Rambus and Japan's Sharp to free up money and focus...
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Growing middle class, ASEAN links boost PH investment prospects
MANILA, Philippines – Consistent economic growth, a young and increasingly moneyed population, and the ASEAN economic integration are magnifying the Philippines as a beacon to investors, according to...
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Oil prices up on Libya unrest, hopes for output deal
SINGAPORE – Oil prices edged up in Asia on Monday, September 19, as OPEC member Venezuela indicated a deal to limit output is close and after fresh fighting in Libya.But gains were limited by...
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PH external debt inches up to $77.7 B for H1 2016
MANILA, Philippines – The Philippines debt stock owed to foreign creditors rose slightly from its first quarters levels due to foreign exchange (forex) fluctuations, although they remain at a...
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Australia's Port of Melbourne sold for $7.3B
SYDNEY, Australia – An Australian-led consortium with Chinese investment won a 50-year-lease Monday, September 19, on the nation's biggest container and cargo port for Aus$9.7 billion (US$7.3 billion),...
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Ride-hailing firm Grab raises $750M from investors
SINGAPORE – Ride-hailing startup Grab said Tuesday, September 20, it has raised $750 million from investors to expand in burgeoning Southeast Asian markets including Indonesia, as it aims to build its...
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Manila court orders release of laundered $15M to Bangladesh
MANILA, Philippines – The regional trial court (RTC) of Manila has ordered the release of $15 million that was part of the fund stolen from the Bangladesh central bank and laundered in the Philippines....
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DTI, DOF looking to ‘modernize’ investment incentives
MANILA, Philippines – The Department of Trade and Industry (DTI) and the Department of Finance (DOF) are in discussions to add new fiscal incentives in a bid to attract more foreign investors into the...
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PLDT, Globe boost telco services in Leyte, Biliran
MANILA, Philippines – Telecommunications firms PLDT Incorporated and Globe Telecom have set up interconnection links in Leyte, Southern Leyte, and Biliran allowing free local calls between their...
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Philippines' crime war a risk for economy – ratings agency
MANILA, Philippines (UPDATED) – President Rodrigo Duterte's deadly war on crime is threatening the Philippines' economy and endangering its democratic institutions, international credit rating agency...
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#AskTheTaxWhiz: Tax frustrations voiced online
From the PICPA-Philippine Institute of Certified Public Accountants Facebook Page: I received a Letter of Authority (LOA) for taxable years 2012, 2013, and 2014. LOA 2012 is settled already. I am now...
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