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WASHINGTON, D.C.: The US Congressional Budget Office (CBO) raised its forecast for the US fiscal deficit this year on Wednesday (Thursday in Manila), but said it would still be much lower than last year’s. The CBO also reiterated its medium-term view that the US deficit will begin accelerating at the…

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WASHINGTON, D.C.: The International Monetary Fund (IMF) is again touched by scandal with chief Christine Lagarde’s being charged in a French graft case, three years after predecessor Dominique Strauss-Kahn resigned in disgrace. The “negligence” charge against Lagarde on Wednesday (Thursday in Manila) in a case dating back to her years…

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SYDNEY: Australian flag carrier Qantas on Thursday posted a record annual net loss of Aus$2.84 billion ($2.65 billion), but chief executive Alan Joyce insisted clearer skies lie ahead after aggressively cutting costs. The worse-than-expected result compared with a wafer-thin profit in the previous year, with one-off restructuring and redundancy payouts…

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WHEN it comes to the distribution of cash dividend, the Philippine Long Distance Telephone Co. (PLDT) is, undoubtedly, the most generous. It is so generous that its previous year’s net profit would not be enough to cover the amount needed to meet the board’s generosity to its stockholders. The regulators…


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“WE are still in the process of consulting our ‘Bosses,’” so the statement goes from the people who are “clingy” to the president. In truth and in fact, they see the real threat of being out of grace the moment the president’s term ends in the next two years. As…

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(Updating with more details and comments from NEDA) The Philippine economy grew 6.4 percent year-on-year in the second quarter of 2014, gaining pace since the slowdown seen in the first quarter but still lower than the year-earlier rate, official figures just released by the National Economic and Development Authority (NEDA)…

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Governor Amado Espino Jr. on Monday ordered the suspension of classes in all levels as Pangasinan province is now among the provinces in Luzon placed under typhoon signal no. 3. Provincial Information Officer Butch Velasco said Espino also placed on full alert the Provincial Disaster Risk Reduction and Management Council…

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A POWER outage hit the province of Aurora as typhoon Labuyo made a landfall early on Monday morning. Based on the report of the Office of Civil Defense (OCD) in Central Luzon, the electric power in the towns of Baler, Casiguran, Dilasag, Dinalungan, Dingalan, Dipaculao, Maria Aurora and San Luis…

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A 6.3-magnitude quake struck off eastern Indonesia on Monday, the US Geological Survey (USGS) said, but no tsunami warning was issued. The quake struck at a depth of 92 kilometers, 189 kilometers west-northwest of Saumlaki in the Maluku chain of islands, said the USGS. Sutiono, an official at Indonesia’s Meteorology,…

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DESPITE the loss to Iran in the FIBA Asia final, Malacañang lauded the country’s national basketball team for their big fighting heart. “Gilas Pilipinas has shown the world that no one can outsize the heart of the Filipino,” Palace spokesman Edwin Lacierda said in a statement. “In unison, the nation…

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Twenty-three people were missing on Monday as Typhoon Labuyo (international codename: Utor) struck the Philippines, dumping heavy rains in remote mountain villages and the densely populated Manila. All of the missing people were fishermen who went to sea on the east coast of Luzon where Labuyo approached over the weekend,…

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Police arrested six people and seized about $46 million-worth of methamphetamine in Subic Freeport Sunday, a police spokesman said. The six were caught while loading travel bags and boxes at the port of Subic containing about 200 kilograms (440 lbs) of the stimulant methamphetamine hydrochloride, said Chief Inspector Roque…