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ECONOMIC growth could return to the 7 percent level in the second half of the year, supported mainly by the economic recovery in the second quarter and the government’s accelerated infrastructure spending, a study said on Tuesday. First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific…

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Second of three parts Last week, the Bureau of the Treasury conducted its first debt swap since 2011, exchanging P121.72 billion in shorter-term bonds for longer-term issues due in 2024, and accepting an additional P9.40 billion in new subscription offers for the 10-year bonds yielding 4.125 percent. The success of…

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The benchmark stock index closed slightly higher, remaining in record territory amid optimism on the rebalancing of the MSCI Philippines Index. Philippine Long Distance Telephone Company (PLDT) posted the biggest gain, rising 2.73 percent or P90 to close at P3,390 per share. The Manny Pangilinan-led telecoms firm has the highest…

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LISTED conglomerate Ayala Corp. (AC) is set to raise P15 billion funds through a preferred shares sale for future projects, particularly in power and infrastructure. In a disclosure, AC said it will offer 30 million new and separate shares under Preferred Class B shares, priced at P500 per share. The…


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MARSEILLE – A suspect in the theft of jewellery worth $1.4 million (one million euros) during this year’s Cannes Film Festival was arrested in June during a robbery on a Spanish island, sources confirming French newspaper reports said Sunday. A 40-year-old French-Algerian man known as a notorious thief was…

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WELLINGTON – China has blocked all imports of milk powder from New Zealand, a New Zealand minister said Sunday, after bacteria that can lead to botulism was found in some dairy products. Trade Minister Tim Groser said the ban was “entirely appropriate”, after global dairy giant Fonterra said some…

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CAIRO – Egypt’s army chief met overnight with Islamist leaders to try to resolve the bloody crisis pitting supporters of ousted president Mohamed Morsi against the interim government, the army said Sunday. General Abdel Fattah al-Sisi “met several representatives of the Islamist movements … and stressed that there are…

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The 148-hectare reclamation project towards Manila Bay will save the city of Manila from bankruptcy, since it will generate billions of taxes yearly. Manila Mayor Joseph Estrada and Vice Mayor Isko Moreno have expressed support for the Manila Solar City project, which is envisioned to become a world-class commercial, residential, and…