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Revoking tax exemptions among gaming firms may hurt capital markets as well as hinder the company’s plan to establish an internationally known local gaming industry. The Bureau of Internal Revenue (BIR) recently issued a memorandum that revoked the income-tax exemption of the Philippine Amusement and Gaming Corp. (Pagcor), removing Pagcor…

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The Bangko Sentral ng Pilipinas (BSP) on Monday said that inflation this month likely settled at the lower end of the 3-percent to 5-percent full year target. In a text message, BSP Governor Amando Tetangco said that May inflation rate could be at 2.2 percent to 3.1 percent. Tetangco explained…

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The Philippine Stock Exchange (PSE) intends to take hold of a controlling stake upon its merger with the Philippine Dealing Systems Holdings Corp. (PDS), which basically involves the consolidation of bonds and equity markets. On the sidelines of the PSE-Asiamoney forum on Philippine Tourism, Leisure and Gaming, PSE President and…

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SUBIC BAY FREEPORT: The Subic Bay Metropolitan Authority (SBMA) on Monday reported a healthy increase of 62 percent in its net profit for the first quarter of the current year, as compared to its performance for the same period in 2012. According to SBMA Chairman Roberto Garcia, the agency’s net…

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The Bangko Sentral ng Pilipinas (BSP) on Monday announced that banks maintained their credit standards for loans to both enterprises and households during the first quarter of the year. Citing the results of the First Quarter 2013 Senior Bank Loan Officers’ Survey, the BSP said that overall credit standards were…

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The Department of Transportation and Communications (DOTC) has injected P3 billion in its 2014 budget to start construction of the 45,000-square meter budget terminal at Clark in Pampanga. “That’s the plan [45,000 square meters for budget terminal]. Well, its in our budget right now, we still have to do a…

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