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NEW YORK: Yahoo is spinning off its stake in Chinese Internet giant Alibaba, splitting off the valuable holdings in a move that sidesteps taxes. The strategy laid out on Tuesday aims to deliver more cash for shareholders than an outright sale of the $40-billion stake, avoiding a hefty tax bill,…

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MADRID: International tourist arrivals rose by 4.7 percent to 1.14 billion in 2014, with the Americas and Asia posting the strongest growth, but will rise at a slower pace this year, a UN body said Tuesday. “Over the past years, tourism has proven to be a surprisingly strong and resilient…

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As I write this, I can almost picture my editor frowning over it and muttering to herself, “This isn’t really a business column.” No, it isn’t. But I wish it was, because that would mean the extraordinarily horrifying circumstances of the past few days would not have trumped all discussion…

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Port magnate to build 12-ha casino complex Bloomberry Resorts Corp., operator of Solaire Resort & Casino owned by businessman Enrique Razon, will build a 12.2-hectare integrated resort, tourism and casino complex on Muui Island in South Korea in line with its objective to establish the Solaire brand in the region.…


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BSP reports inroads to financial inclusion The Bangko Sentral ng Pilipinas on a yearend report on its Financial Inclusion Initiatives said that the country’s estimated one million microentrepreneurs received loans of P9.3 billion last year. The central bank enumerating inroads in serving unbanked Filipinos cited the surge in electronic money…

IN NOVEMBER

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Philippine merchandise imports in November dropped 10.8 percent from $5.59 billion last year to $4.99 billion mainly due to lower capital equipment import and cheaper oil price. Data from the Philippine Statistics Authority (PSA) showed that the value of capital goods slackened to $789.41 million, 59 percent drop from $1.924…

Regions

World

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BEIRUT: A gruesome video has emerged on the Internet apparently showing a Syrian rebel fighter cutting out the heart of a regime soldier and eating it. “We swear to God we will eat your hearts and livers, you soldiers of Bashar the dog,” the insurgent says as he bends over…

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DHAKA: Hundreds of factories which form the hub of Bangladesh’s garment industry are to close indefinitely after worker unrest sparked by the death of more than 1,100 colleagues, employees announced on Monday. As the search for bodies from last month’s collapse of a factory complex wrapped up, the textile industry’s…

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SEOUL: South Korean President Park Geun-Hye said Tuesday she wants talks with North Korea on removing raw materials and finished products from a joint industrial complex closed by military tensions. In a cabinet meeting, Park instructed the Unification Ministry to offer Pyongyang discussions on the Kaesong complex, which lies 10…

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RIYADH: Four more cases of the deadly coronavirus have been detected in Saudi Arabia, the health ministry said, raising the number of people infected from the SARS-like virus in the kingdom to 28, including 15 fatalities. The four cases were registered in Eastern Province, which has been gripped by panic…

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ISLAMABAD: Official partial results released on Tuesday confirmed a convincing victory for the party of former prime minister Nawaz Sharif in Saturday’s election. With 18 of the 272 directly elected seats in the national assembly still to be declared, Sharif’s centre-right Pakistan Muslim League-N party had 123, the election commission…

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NEW YORK: Angelina Jolie revealed on Tuesday that she has under-gone a preventive double mastec-tomy to reduce her risk of con-tracting breast cancer. Jolie said she was speaking out to encourage other women with a family history of cancer—her mother died of it age 56—to seek out information from doctors…

Today's Breaking News

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FLORENCE, Italy – US student Amanda Knox’s former Italian lover Raffaele Sollecito described their “fairy tale” love as he protested his innocence on Wednesday at their trial for the murder of a British student. “I have been described as a ruthless killer but I am nothing of the sort,”…

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Alleged pork barrel scheme mastermind Janet Lim-Napoles has hired a new lawyer for her plunder case. Napoles’ longtime counsel Fred Villamor said the camp of Napoles has been finalizing an agreement with the new lawyer to represent her in the plunder complaint filed by the Department of Justice (DOJ) before…

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Veteran wushu Filipino bet Benjie Rivera claimed his first gold medal after eight years in the 12th World Wushu Championships on Tuesday in Kuala Lumpur, Malaysia. The Baguio City native, a gold medal winner in Sanda World Cup, delivered a rousing performance against Vietnamese Hoang Hong Tu for the gold in…

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A magnitude 7.2 earthquake like the one that devastated Bohol last month could kill as many as 35,000 people if it struck Metro Manila, according to an official of the Philippine Institute of Volcanology and Seismology (Phivolcs). Ishmael Narag, officer-in-charge of Phivolcs’ Seismological Observation and Earthquake Prevention Division, cited…

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A suspected Indonesian extremist plotted with other Islamic militants on Facebook to bomb the Myanmar embassy to avenge the deaths of Rohingya Muslims in Myanmar, a court heard Wednesday at the start of his trial. Separiano, 29, is accused of planning to attack the mission in Jakarta in May as…

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A series of bombs packed with ball bearings exploded outside a provincial headquarters of China’s ruling Communist Party on Wednesday, killing at least one person days after a fiery attack in Tiananmen Square. Police and state media gave no possible motive for the blasts in Taiyuan, capital of the northern…