Business

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The Bangko Sentral ng Pilipinas (BSP) on Friday announced that “hot money” or foreign portfolio investments to the Philippines in May this year reached $2 billion. This was 31.6 percent higher than the $1.5 billion level recorded last year. However, the figure was 42.8 percent lower than the $3.5 billion…

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Philippine factory output as measured by Volume of Production index (VoPi), rebounded as it registered a two-digit year-on-year increase of 10.3 percent in April 2013, according to the results of the Monthly Integrated Survey of Selected Industries (Missi) released by the National Statistics Office (NSO). It said that five of…

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A top official of Cebu Pacific said that the Philippines would become the low-cost carrier (LCC) capital of the world. “Today, in the Philippines, low-cost carriers dominate. Eight out of 10 seats on the domestic market are low-cost carrier seats. No other aviation market in the world has this kind…

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National government debt rose by 0.5 percent to P5.309 trillion as of April 2013, according to the Bureau of Treasury (BTr) on Friday. Data from BTr said that government debt as of April was P27 billion higher from the end-March level. Of the total debt, the bureau noted that P1.870…

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The Sugar Regulatory Administration (SRA) on Friday said that it may adjust sugar allocations for the next crop year to address the slower shipments of the sweetener to the United States. SRA administrator Ma. Regina Bautista-Martin said that the Philippines still maintains its net sugar exporter status, but stressed that…

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The Security and Exchange Commission (SEC) has committed an error with a memorandum circular redefining 60-40 rule on foreign companies’ ownership, giving Philippine Long Distance Telephone Co. (PLDT) the chance to be majority-owned by foreign companies. During the weekly forum at Hotel Rembrandt’s Balitaan, former Supreme Court Chief Justice Renato…

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LONDON: Leaders of the Group of Eight (G8) nations meet in Northern Ireland next week determined to crack down on tax evasion and boost global trade, while seeking to push Russia to help find a political solution to the Syria conflict. British Prime Minister David Cameron has made trade, tax…

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TOKYO: Japan’s Cabinet on Friday rubber-stamped a package of government reforms aimed at re­booting the economy, as Prime Minister Shinzo Abe readied to explain the measures to fellow Group of Eight (G8) leaders. In a video message posted on his official website, the Premier repeated pledges that he would make…

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TOKYO: The dollar faced selling pressure in Asian currency markets on Friday, with traders eyeing the safe-haven Japanese yen as questions swirl over the timing of an end to the US Federal Reserve’s massive stimulus. The greenback see-sawed around the 95 yen level for most of the day, fetching 95.02…

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WASHINGTON, D.C.: The US Supreme Court’s rejection on Thursday (Friday in Manila) of natural DNA patent protection could hurt biotech companies, but specialists said that it left enough safeguards for the industry to keep innovating. The court ruled that Myriad Genetics, which sells expensive tests for the genetic markers for…