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The Bureau of Internal Revenue (BIR) boosted its tax collections in April by 4.78 percent from a year earlier, but missed its target by 12.88 percent. The shortfall amounts to P20.1 billion. The agency collected P156.1 billion in tax revenues, up P7.12 billion or 4.78 percent year-on-year. But the improvement…

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Singapore sovereign wealth fund GIC will invest P3.7 billion in the hospital business of Metro Pacific Investments Corp. (MPIC), a group led by businessman Manuel V. Pangilinan, in a deal expected to be finalized by middle of this year, a regulatory filing said. GIC is a leading global investment firm…

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Philippine shares finished lower on Friday as investors booked profits for a second day, taking their cue from a global selloff in the wake of Wall Street’s steep fall overnight. The market was down on “continued profit-taking, tracing overseas trends,” Freya Natividad, analyst at Papa Securities Corp., said in a…

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Manila-based lender Asian Development Bank (ADB) and Japan will offer a $2-million technical assistance (TA) grant to help the Philippine government strengthen its appraisal process for public-private partnerships (PPPs) as the country’s pipeline of projects grows. In a statement released on Friday, the ADB said that the technical assistance will…

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The Department of Trade and Industry (DTI) will gather top Japanese game development companies in a conference on May 19 at the Manila Peninsula to explore potential business opportunities in the country. The Game Developers Association of the Philippines (GDAP) is keen to develop the local gaming industry as it…

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Globe Telecom Inc. through its wholly owned mobile commerce subsidiary, Gcash, has partnered with information and communications technology company Rural Net Inc. (RNet) to enable people in the countryside access financial products from rural banks and cooperatives through the use of mobile and internet banking. On Friday, G-Xchange Inc., (GXI)…

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Malaysia ends operation to flush out Filipino gunmen KUALA LUMPUR – Malaysian authorities Saturday announced that an operation to flush out armed Filipino militants from an eastern state was over, four months after the intruders landed on Borneo island sparking a security crisis. More than 200 armed followers of…

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BEIJING – Chinese state-media accused the Philippines of using the ASEAN group of nations as an “accomplice” in the violation of its sovereignty claims in the South China Sea on Saturday, and warned of a potential “counterstrike”. The editorial in the overseas edition of the People’s Daily, the mouthpiece…

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Far Eastern University recovered from a slow start to pull off an 89-78 win over University of the East at the start of the University Athletic Association of the Philippines Season 76 men’s basketball on Saturday at the Mall of Asia Arena in Pasay City. Veteran point guard Terrence Romeo sizzled with…

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FILIPINO Denver Cuello started hot but couldn’t sustain his momentum against World Boxing Council Chinese minimum weight champion Xiong Zhao Zhong. Xiong retained his title via unanimous decision over Cuello Friday night in Dubai. The Chinese, who was knocked down in the opening round, won on a majority decision –…

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Malacanang said it is open to having discussions with some senators who said the planned bases access agreement with the US may be in violation of the Constitution. Deputy presidential spokesperson Abigail Valte said the Aquino administration is willing to discuss the issue with the senators while the defense department…

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PRETORIA – US President Barack Obama will not visit his political hero Nelson Mandela in hospital, out of deference for the anti-apartheid icon’s “peace and comfort,” a US official said Saturday. Obama and his wife Michelle will however spend time with Mandela’s family to comfort them in a difficult time,…