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  • Authorities arrest 9 currency counterfeiters in Q1 ’16

    Authorities arrest 9 currency counterfeiters in Q1 ’16

    By Joann Santiago, Philippine News Agency MANILA, May 25 - - Nine individuals were arrested in four anti-counterfeiting operations of the Bangko Sentral ng Pilipinas' (BSP) Currency Issue and Integrity Office (CIIO) in the first quarter of 2016.   In a statement Wednesday, …

  • US companies welcome creation of DICT – Cuisia

    US companies welcome creation of DICT – Cuisia

    Philippine Ambassador to the United States Jose L. Cuisia, Jr. said yesterday  the American business community is a strong supporter for the creation of the Department of Information and Communications Technology (DICT) stressing the passage of Republic Act (RA) No. …

  • Insular Life’s profit falls to P1.77B in 2015 due to market volatility

    Insular Life’s profit falls to P1.77B in 2015 due to market volatility

    Insular Life Assurance Co. reported yesterday that the company’s net income decline last year due to market volatility. In a statement, Insular Life said that its consolidated net income dropped 40 percent last year to P1.77 billion from P2.95 billion in …

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  • President Aquino signs law enhancing depositor protection

    President Aquino signs law enhancing depositor protection

    MANILA, May 25 -- President Benigno S. Aquino III has signed Republic Act No. 10846 amending the charter of the Philippine Deposit Insurance Corporation (PDIC) or the deposit insurance law.   The depositing public, consisting of approximately 50 million deposit account holders …

  • Swiss approve dissolution of bank in Malaysia scandal

    Swiss approve dissolution of bank in Malaysia scandal

    By Agnès Pedrero with Elizabeth Law in Singapore, AFP Swiss financial regulators approved Tuesday the dissolution of Lugano-based BSI Bank over its links to a corruption scandal engulfing Malaysia's Prime Minister Najib Razak. Swiss supervisor FINMA accused BSI, a merchant bank, of …

  • Bangladesh Bank heist trail goes cold in Manila as probes falter

    Bangladesh Bank heist trail goes cold in Manila as probes falter

    By Raju Gopalakrishnan More than three months have passed since $81 million was stolen in a brazen cyber-heist from Bangladesh's central bank and sent to Manila - yet authorities in the Philippines appear no closer to nabbing those who laundered most …

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  • Asian markets slump amid expectations Fed will raise rates

    Asian markets slump amid expectations Fed will raise rates

    Asian stock markets fell in subdued trading Tuesday amid rising expectations the U.S. Federal Reserve may raise interest rates in June. KEEPING SCORE: Japan's benchmark Nikkei 225 fell 0.9 percent to close at 16,498.76 as the yen continued to strengthen, casting …

  • Asia markets cautious ahead of more US rate hike news

    Asia markets cautious ahead of more US rate hike news

      Hong Kong, China - Asian stock markets moved cautiously Monday as investors sat tight for fresh news on a possible US rate hike and after a G7 finance ministers' meeting saw Tokyo pressed not to weaken its currency. Global stocks rallied in the …

  • Asian markets restore calm after Fed signals spark sell-offs

    Asian markets restore calm after Fed signals spark sell-offs

         By Youkyung Lee SEOUL, South Korea — Asian stock markets drifted slightly higher on Friday as investors restored calm a day after worries about the Fed's rate hike signals prompted sell-offs. KEEPING SCORE: Japan's Nikkei 225 added 0.3 percent to 16,693.39 while …

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  • US fares are cheap; airlines don’t want them to stay that way

    By DAVID KOENIG Dallas– Enjoy lower airfares while you can. Airlines are taking steps to push prices higher by next year. Fares have been dropping for more than a year. Taking inflation into account, the average round-trip within the US in late …

  • Greek port workers  plan 48-hour walkout  against privatizations

    Greek port workers plan 48-hour walkout against privatizations

    Athens – Greek port workers will walk off the job on Thursday for 48 hours to protest against the sale of the country's two biggest ports, which Athens has promised to international lenders in exchange for much-needed bailout loans. Privatizations, a …

  • Logistics companies exploring sales as sector’s growth slows

    By LORETTA CHAO and PAUL PAGE Several logistics companies are seeking buyers, a sign that stagnant shipping demand is driving a new wave of consolidation in the industry. Philadelphia-based logistics firm BDP International, Inc. and Pilot Freight Services, a Lima, Penn.-based freight …

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  • E-trike programs now ready for LGUs to choose from

    E-trike programs now ready for LGUs to choose from

    After years of developing the electric vehicle industry in the country, there are now at least four major electric tricycle programs in the country for local governments to choose from. The Electric Vehicle Association of the Philippines, the single voice of …

  • Bank of Tokyo’s expanding regional presence

    Bank of Tokyo’s expanding regional presence

    With an asset size of $2.3 trillion, Bank of Tokyo Mitsubishi UFJ (BTMU) is the eighth largest bank in the world. It has a network of 1,100 locations in Japan and 1,159 outside of Japan in over 40 countries. BTMU CEO …

  • Japanese bank eyes bigger foothold in PH

    Japanese bank eyes bigger foothold in PH

    One of the more significant banking stories of the year is the acquisition of Bank of Tokyo Mitsubishi UFJ (BTMU) of a 20 percent share in a local bank. It’s a move that many predict will eventually lead to a …

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  • Parliament ratifies South Sudan’s admission to EAC

    Parliament ratifies South Sudan’s admission to EAC

    JUBA, May 24 (PNA/Xinhua) -- South Sudan's parliament has endorsed a treaty about the admission of the country to the East Africa Community (EAC), making it the sixth member state of the regional trading bloc. Speaking in parliament late Monday, Philip …

  • SoKor youth jobless rate up 10.9% in April, monthly high

    SoKor youth jobless rate up 10.9% in April, monthly high

    By Seo Dong-cheol and Kim Gyu-sik, Maeil Business News Korea South Korea’s youth jobless rate reached a new monthly high for April, gaining by double digits for the third consecutive month to demand bolder government policy actions in tackling joblessness for …

  • Philippine markets gain after elections

    Philippine markets gain after elections

    By Cris Larano, Dow Jones MANILA -- Philippine financial markets rose Tuesday as election results suggested a strong mandate for the presumptive next president in one of the world's fastest-growing economies.   Some fund managers and economists said they believed the market could …

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  • Microsoft cuts more jobs in troubled mobile unit

    Microsoft cuts more jobs in troubled mobile unit

    NEW YORK (AP) — Microsoft is cutting 1,850 jobs and will book a $950 million writedown as the company continues its attempts to salvage a rocky entrance into the smartphone market. The company acquired Nokia's phone business in 2014, seeking to capitalize on …

  • Asia hotbed of IT piracy despite economic growth: report

    Asia hotbed of IT piracy despite economic growth: report

    Singapore, Singapore -- More than 60 percent of all computer software installed in the Asia-Pacific in 2015 was unlicensed, the worst of any region, despite growing economies and anti-piracy efforts, an industry watchdog said Wednesday. The Software Alliance -- which includes giants like Microsoft, …

  • Facebook drops news outlet input in ‘trending topics’ review

    Facebook drops news outlet input in ‘trending topics’ review

      By Ryan Nakashima LOS ANGELES — Facebook says it is dropping its reliance on news outlets to help determine what gets posted as a "trending topic" on the giant social network, a move adopted after a backlash over a report saying …