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10 gov’t firms fail to remit P68B in dividends – COA
MANILA, Philippines – Ten government-owned or controlled corporations (GOCCs) have failed to remit or declare dividends amounting to P68.663 billion over a decade, depriving the treasury of its...
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PH 3rd most optimistic economy – global business survey
MANILA, Philippines – The Philippines emerged as the 3rd most optimistic economy among 37 countries driven by strong prospects in revenues, exports, and the Association of Southeast Asian Nations...
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Avocado, 4 new players enter PH telco industry
MANILA, Philippines – Five new, small local players have entered the Philippine telecommunications industry, after their franchises were approved by Congress and lapsed into law last June 30.These new...
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COA: 8 GOCCs, 55 water districts released P727M questionable allowances
MANILA, Philippines – A Commision on Audit special report showed that 8 government-owned or controlled corporations (GOCCs) and 55 water districts (WDs) allegedly released P727.71 million in...
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Bank of Japan delays inflation goal in blow to 'Abenomics'
TOKYO, Japan – Japan's central bank on Tuesday, November 1, again pushed back the timeline for hitting its inflation goal, the latest policy change that has raised questions about its attempt to revive...
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Tax reform program to recast PH economic policy
MANILA, Philippines – Despite the perceived misgivings on the capability of the Duterte administration to handle the national economy, an overall economic policy is evolving and getting clearer, as the...
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Saudi Aramco CEO predicts oil market balance by early 2017
RIYADH, Saudi Arabia – The global oil market should be balanced early next year, the president of Saudi Aramco said on Tuesday, November 1, after oversupply drove prices to multi-year lows in 2016."The...
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Boeing, Airbus trade barbs as China competition heats up
ZHUHAI, China – Aerospace giants Boeing and Airbus took potshots at one another at the Zhuhai air show, as the US and European rivals seek to capture more of China's booming aircraft market.China is...
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Dominguez: Fed rate hike talks mainly caused peso depreciation
MANILA, Philippines – Speculations that the United States' central bank will increase its interest rates is the "major reason" why the Philippine peso has fallen to its lowest level against the dollar...
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Dominguez: Questionable firms banned from PH infra auctions
MANILA, Philippines – Companies considered "unacceptable" in the international field will not be allowed to join auctions for big-ticket infrastructure projects in the Philippines like the Metro Manila...
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PH stocks plunge on US election fever, Fed rate hike talks
MANILA, Philippines – Stocks in the country fell sharply by 2.06% on Wednesday, November 2, playing "catch-down" with the rest of the region, as investors took fright mainly on signs that US...
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Alibaba sales growth soars into the cloud
BEIJING, China – Chinese e-commerce giant Alibaba's sales soared 55 percent in the last quarter, thanks in part to a more than doubling of revenue from cloud computing, the company said on Wednesday,...
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Tax reform package abandons World Bank prescriptions
Part 1: Tax reform program to recast PH economic policy MANILA, Philippines – The second of the 4 packages of the Comprehensive Tax Policy Reform Program of 2016 seeks the...
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Pilipinas Shell catches up in PSE debut amid volatile market
MANILA, Philippines – Pilipinas Shell Petroleum Corporation marked its first day as a publicly listed company by closing at a high for the day amid a volatile trading session.Listing on Thursday,...
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NEDA: 'Sizeable impact' on PH economy in 2017 if China delivers on pledges
MANILA, Philippines – China’s over $20-billion investment and aid pledges to the Philippines may have a "sizeable impact" on the economy by next year if they materialize and are screened properly,...
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#AskTheTaxWhiz: Top 10 frequently asked tax questions by startups
1. What are the taxes I need to pay as a startup?There are at least 3 types of taxes you need to pay:(1) income tax - if you are a sole proprietor or self-employed, your business income is subject to...
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Max's Group's income growth slows down due to bad weather
MANILA, Philippines – Restaurant chain operator Max’s Group Incorporated saw its net income grow only by 3% to P380 million in the first 9 months of the year, mainly because of the slowdown it...
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Sy-led Belle Corp terminates agreement with Leisure Resorts
MANILA, Philippines – Belle Corporation, the gaming and property unit of the Sy family, has terminated its revenue-sharing agreement with bingo operator Leisure Resorts World Corporation (LRWC).Belle...
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CDC loses P58.7-M from hotel, casino firm – COA
PAMPANGA, Philippines – The Clark Development Corporation (CDC) lost about P58.7 million in revenues due to its leniency and tolerating the actions of a locator that repeatedly violated its lease...
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Globe Telecom ups stake in Taodharma to 67%
MANILA, Philippines – Globe Telecom Incorporated has increased its stake to 67% in Taodharma Incorporated, a unit of the Tao Group of Companies that holds exclusive licensee of Allphones Australia in...
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