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Investors sue Volkswagen for 8.2B euros over 'dieselgate'
FRANKFURT, Germany – Volkswagen investors have filed 1,400 lawsuits seeking 8.2 billion euros in damages over the emissions cheating scandal, a German court said Wednesday, September 21, adding to the...
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US Federal Reserve keeps key interest rate on hold
WASHINGTON, USA – The Federal Reserve kept its benchmark interest rate unchanged for the 6th straight meeting Wednesday, September 21, saying it needs to see a bit more sign of strength in the US...
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Airlines to post record $40B profit in 2016 – IATA
SINGAPORE – Global airlines are expected to post record profits of almost $40 billion this year, the head of industry body IATA said Thursday, September 22, but he warned the sector faced threats from...
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Global fintech firm Payoneer expands into PH
MANILA, Philippines – Leading global digital payments firm Payoneer is opening an office in the Philippines to capitalize on the country’s thriving digital entrepreneurship scene.The New York-based...
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Philippine ports ready for holiday season
MANILA, Philippines – The Philippine Ports Authority (PPA) assured the public that there will be no congestions that can affect its operations, with cargo volumes expected to increase during the months...
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Hyundai car workers start first full strike in 12 years
SEOUL, South Korea – Tens of thousands of unionized workers at South Korea's Hyundai Motor staged their first full strike on Monday, September 26, for more than a decade after negotiations over a wage...
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Peso hits 7-year low vs US dollar
MANILA, Philippines – The Philippine peso fell to its lowest level against the dollar in 7 years as it breached the P48 to $1 dollar mark on Monday, September 26.The peso fell by P0.26 centavos to...
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CebGo propeller plane's wheel catches fire in Cebu airport
CEBU, Philippines – A CebGo propeller plane bound for Tacloban caught fire around 7:00 pm on Monday, September 26.According to statements from Cebu Pacific and the Civil Aviation Authority of the...
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Oil market still weak despite recovery – Saudi Aramco
DUBAI, United Arab Emirates – Oil prices have been recovering but are still weak, the head of Gulf giant Saudi Aramco said on Monday, September 26, warning that market volatility could persist in the...
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Peso depreciation 'no cause for concern' – Diokno
MANILA, Philippines – Budget Secretary Benjamin Diokno downplayed worries over the depreciation of the Philippine peso."The depreciation of peso as far as I'm concerned is no cause for concern. We've...
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PH stocks continue to sink, peso slightly recovers
MANILA, Philippines – Philippine equities continued to bleed Tuesday, September 27, on foreign selling, failing to join the regional rally over a perceived win by Hillary Clinton in the US presidential...
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Deal reached: LRT-MRT common station between SM North, TriNoma
MANILA, Philippines – It's final: The proposed Light Rail Transit (LRT) and Metro Rail Transit (MRT) common station will be constructed between SM North EDSA and TriNoma malls.This is to end the...
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Audi tech chief leaves after reports link him to 'dieselgate'
FRANKFURT, Germany – Audi's head of technical development stepped down "with immediate effect" on Monday, September 26, the luxury carmaker announced, after German media accused him of involvement in...
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ADB upgrades PH growth outlook to 6.4% for 2016, 6.2% for 2017
MANILA, Philippines – The Asian Development Bank (ADB) upgraded its growth forecast for the Philippines on the back of faster than expected investment, continued strong consumption, and prospects of...
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DOF submits first package of tax reforms to Congress
MANILA, Philippines – The Department of Finance (DOF) officially started on the road to tax reform with the formal submission of a bill outlining the first batch of proposed tax reforms to the House of...
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PH slips 10 notches in 2016 WEF Global Competitiveness
MANILA, Philippines – For the first time in a decade, the Philippines slipped 10 notches in the World Economic Forum's (WEF) annual competitiveness ranking.The Philippines' ranking dropped in 8 of 12...
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SEC approves Shell's IPO
MANILA, Philippines – The Securities and Exchange Commission (SEC) approved the P29.7-billion initial public offering (IPO) of oil company Pilipinas Shell Petroleum Corporation.SEC Commissioner Ephyro...
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Ramon Ang to build $300M cement plant in Davao
MANILA, Philippines – Businessman Ramon S. Ang, through his firm Eagle Cement Corporation, is set to build a $300-million cement manufacturing plant in Davao City within the year, betting on Mindanao's...
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Diokno: tax reform by end of 2016, construction mode after
MANILA, Philippines – Budget Secretary Benjamin Diokno said that the long-awaited reform on personal and corporate income taxes will be realized by the end of the year, or until mid-2017.According to...
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PH peso weakest in region, but not alarming for economic managers
MANILA, Philippines – Although the Philippine peso is now the worst performing currency in Asia, the country's economic team said it is no cause for alarm as fundamentals remain unchanged.The peso shed...
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