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TOKYO: The dollar was steady during Asian trade on Monday, buoyed by optimism about the US economic recovery. The greenback bought 101.96 yen following gains it made at the end of last week which pushed it to 102.06 yen in New York on Friday. The euro was also little moved,…

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TOKYO: Japanese automakers on Monday recalled nearly three million vehicles worldwide over an airbag defect that could pose a fire risk. Honda said it recalled about 2,033,000 vehicles which were produced between August 2000 and December 2005, including more than one million in North America and 668,000 in Japan. Two…

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BEIJING: China’s manufacturing activity expanded in June for the first time this year as the effects of Beijing’s mini-stimulus on the world’s second-largest economy gradually kick in, HSBC said on Monday. The bank said in a statement that its preliminary purchasing managers index (PMI), which tracks activity in China’s factories…

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I WAS disappointed, but not particularly surprised, to read the allegations of bureaucratic nonsense being carried out by the new overlords of the Philippine Coconut Authority (PCA), as detailed in Marlen Ronquillo’s column on Sunday (“While the agri sector burns, the new sheriff’s focus is elsewhere,” June 22). The party…


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THIS is what the economist Milton Friedman actually wrote in 1970: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profit, so long as it stays within the rules of the game, which is to say, engage in…

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The Philippine peso is expected to lose more value against the dollar toward the end of the year despite the country’s strong macroeconomic fundamentals as an improving United States economy continues to enhance the dollar’s attractiveness to investors. Although the local currency may show continued firmness in the near term…

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Independent filmmaking takes on new heights when the 9th Cinemalaya Independent Film Festival opens on July 26 at the Cultural Center of the Philippines (CCP) in Pasay City. On Thursday, a press conference held at the CCP’s main lobby officially launched this year’s edition of Cinemalaya, dubbed “Cinesthesia: Synergy of…

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The Department of Foreign Affairs (DFA) called on groups and organizations not to stir up distressed Filipinos in Saudi Arabia after Saudi authorities arrested a group protesting outside the Philippine Overseas Labor Office (POLO) in Riyadh. Raul Hernandez, Foreign Affairs spokesman, said the labor attache in Riyadh confirmed to…

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CAIRO: Egypt’s chief justice Adly Mansour was sworn in as the country’s interim president on Thursday, a day after the military ousted Mohamed Morsi following a week of massive protests. “I swear to preserve the system of the republic, and respect the constitution and law, and guard the people’s interests,”…

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FILIPINO Rogen Ladon defeated an awkward Iraqi boxer Naser Hasan on Thursday to advance in the next round of 27th Asian Elite Men’s Championships at the Amman Boxing Arena in Amman, Jordan. Ladon, who substituted for the injured London Olympic light flyweight bet Mark Anthony Bariga, was aggressive enough in the entire…

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President Benigno Aquino 3rd has appointed former National Irrigation Administration (NIA) senior deputy administrator Claro Maranan as the agency’s new chief. Maranan, 54, will be replacing former NIA chief Antonio Nangel, whose term ended last June 30. President earlier said that he had plans to fire the Nangel after being…

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The BRP Alcaraz, the second warship acquired by the Philippine government from Washington, will arrive in the country on August 3. In a statement released Thursday, the Philippine Embassy in Washington said Philippine Consul General to Los Angeles Maria Hellen Barber de La Vega and members of the Filipino community…