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BlackBerry to outsource handsets, will halt production
MONTREAL, Canada – BlackBerry, the Canadian firm that helped pioneer the smartphone market, said Wednesday, September 28, it will stop making handsets, outsourcing production to an Indonesian...
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OPEC agrees surprise oil output cut
ALGIERS, Algeria (UPDATED) – The Organization of Petroleum Exporting Countries (OPEC) agreed Wednesday, September 28, to cut oil production in a surprise move aimed at boosting stubbornly weak crude...
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Del Rosario: Count economic cost of shift in foreign policy
MANILA, Philippines – Former Philippine foreign secretary Albert del Rosario urged the Duterte administration to consider the wider implications of its foreign policy that has seen the country distance...
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Alliance Global spending over P150B for two-year expansion
MANILA, Philippines – Andrew Tan-led Alliance Global Group Incorporated is spending more than P150 billion in capital expenditures from 2016 to 2017 primarily to accelerate expansion of its property,...
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Former partner of Bloomberry can claim 8.7% stake in Solaire
MANILA, Philippines – An arbitration tribunal in Singapore has ruled that units of Bloomberry Resorts Corporation's former partner in managing the Solaire Resort & Casino can claim ownership of an...
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DOF: Sin tax reform also in the pipeline
MANILA, Philippines – With the long march to overhauling the country's nearly 3-decade-old tax system underway, the government is planning to introduce more measures next year.The initial package of...
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Unisys signs P1.59-B civil registry upgrade project
MANILA, Philippines – Unisys Public Sector Services Corporation formally inked the concession agreement that makes it the builder and operator of a P1.59-billion public-private partnership (PPP)...
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Female business execs rising in PH – Credit Suisse
MANILA, Philippines – Long known for having women in top political positions, the Philippines is also making strides in gender diversity in the boardroom.The country ranked second, along with Norway,...
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ICTSI's Razon gets subpoena over estafa complaint
MANILA, Philippines – International Container Terminal Services Incorporated (ICTSI) head honcho and the Philippines' 8th wealthiest man, Enrique Razon Jr, is facing a city prosecutor's scrutiny of how...
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NEDA ICC-CabCom recommends 7 infra projects for approval
MANILA, Philippines – The National Economic and Development Authority (NEDA) Investment Coordination Committee – Cabinet Committee (ICC-CabCom) has recommended 7 projects for the NEDA Board to...
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World Bank: Inequality threatens fight against extreme poverty
WASHINGTON, USA – Extreme poverty has been falling steadily around the world, but eliminating it by 2030 could be stymied by unequal distribution of the gains of economic growth, the World Bank said...
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DOF looks to formalize PH's AIIB membership this year
MANILA, Philippines – The Department of Finance (DOF) plans to send attachés to Japan and China to cement the country's membership in the China-led Asian Infrastructure Investment Bank (AIIB) as well...
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Asia's Emerging Dragon to bid for NAIA PPP
MANILA, Philippines – Asia's Emerging Dragon Corporation (AEDC)– a firm built by the taipans during the term of then-President Fidel V. Ramos – will participate in the auction of the P74.56-billion...
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Japan big manufacturers' confidence at multi-year low
TOKYO, Japan – Business confidence among Japan's largest manufacturers is at its lowest since Tokyo introduced measures to kick-start the struggling economy more than 3 years ago, a central bank survey...
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NCC plans to cut around 5,000 ‘red-tape’ measures in December
MANILA, Philippines – The National Competitiveness Council’s (NCC) program of cutting bureaucracy gets a boost through technical assistance from the UK as the agency steps up plans to get rid of around...
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'Hard Brexit' fears push pound to 31-year dollar low
LONDON, United Kingdom (3rd UPDATE) – The pound slumped to a 31-year low against the dollar Tuesday, October 4, on concerns over the timing and terms of Britain's planned exit from the European Union,...
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SEC seeks to lower public float for REIT firms to 30%
MANILA, Philippines – The Securities and Exchange Commission (SEC) is ready to submit a proposal to the Department of Finance (DOF) to bring down the minimum public float requirement for real estate...
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World Bank optimistic about PH economy until 2018
MANILA, Philippines – Despite a weak global economy, the Philippines will remain among the most dynamic economies in East Asia and the Pacific, the World Bank said, thanks to an expanding middle-class,...
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IMF warns of protectionist threat to global growth
WASHINGTON, USA – The International Monetary Fund (IMF) on Tuesday, October 4, said protectionist political trends risked "turning back the clock" on free trade, warning of a low-growth future for the...
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Taiwan detains ex-head of bank linked to Panama Papers
TAIPEI, Taiwan – The former head of a Taiwanese bank linked to the Panama Papers and his top aide have been detained on suspicion of violating banking and securities laws, officials said Wednesday,...
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