Business

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GLOBAL Business Power Corp. (GBPC), one of the country’s largest power producers, plans to double its capacity to 2,000 megawatts over the next five years from the current 854 MW, according to its newly appointed president Jaime T. Azurin. The company recently announced the appointment of Azurin as its new…

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AYALA-led real estate developer Alveo Land said on Tuesday it has successfully launched the first phase of its residential subdivision in Evo City, generating P3.5 billion in sales for the initial 395 lots of the subdivision. In a statement, Alveo said it sees Evo City as the next Central Business…

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LISTED real estate developer Filinvest Land, Inc. said on Tuesday it has commenced construction of its condotel project the Fora Rotunda Tagaytay. The project is a 5.2-hectare master-planned townscape project envisioned to be the newest exciting destination in Tagaytay. The Fora features the Life Mall, designed to be one of…

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NEW YORK: US manufacturing and services executives expect to see increased revenue, hiring and capital spending in 2017, reflecting confidence in the economy, according to a survey released Monday. Purchasing and supply executives are optimistic about rising demand for their goods and services amid signs of solid consumer confidence, officials…

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BERLIN: Core EU powers France and Germany vowed Monday to accelerate eurozone integration, with a new bilateral panel to work out ways to kickstart the reform process. “We’ve been talking about progress in eurozone integration for years, but things are not moving fast enough,” said France’s new Economy Minister Bruno…

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MEXICO CITY: Mexico raised its economic growth outlook on Monday, saying it performed better than expected in the first quarter despite fears it would suffer from US President Donald Trump’s trade policies. The economy ministry upgraded its 2017 forecast to indicate growth of between 1.5 and 2.5 percent, from an…

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WASHINGTON, D.C.: President Donald Trump releases a 2018 budget request Tuesday that includes huge Medicaid cuts and changes to anti-poverty programs as it strives to balance the budget within a decade, the White House said in previewing the plan. The proposal includes a staggering $1.7 trillion in cuts over 10…

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BRUSSELS: Eurozone finance ministers failed to reach a deal for fresh bailout cash for Greece on Monday, as a row with the International Monetary Fund over debt relief dragged on. After more than eight hours of talks in Brussels, ministers from the 19-member single currency bloc could not settle deep…

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HONG KONG: Asian markets mostly turned lower Tuesday as profit-taking overshadoweda healthy lead from Wall Street, while the pound fell after 22 people were killed in a terror blast in Manchester. Global stocks had rallied Monday, with energy firms benefiting from a surge in oil prices as OPEC and Russia…