Business

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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…

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The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) on Thursday announced that it has decided to keep the current key policy rates. In a press briefing on Thursday, BSP Governor Amando Tetangco Jr. said that interest rates for the overnight borrowing or reverse repurchase facility is at…

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Businesses have given more time to prepare for the full implementation of the Bureau of Internal Revenue (BIR) regulation requiring the issuance and use of new sets of receipts. In a TV interview, BIR Commissioner Kim Jacinto-Henares said that the bureau delayed the deadline for the full implementation of Revenue…

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The Bangko Sentral ng Pilipinas (BSP) assured the public about the recent movements of the Philippine peso and the stock market “The recent movements in both the FX [foreign exchange rate] and stock markets are part of investor reassessment of global risk,” BSP Governor Amando Tetanco Jr. said in a…