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Local shares gain

Local shares advanced yesterday buoyed by the recovery in regional markets after global stock markets staged a rally last week. The benchmark Philippine Stock Exchange index (PSEi) gained 54.31 points or 0.78 percent to close at 7,057.53 on moderate volume.  A total of 3.42 billion shares valued at P5.99 billion was traded. The All-Shares index […]

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News in brief

SEPT. BOP YIELDS $98-M SURPLUS The country’s balance of payments (BOP) in September is still a small surplus of $98 million, bringing the ninth-month deficit lower to $3.43 billion. Bangko Sentral ng Pilipinas (BSP) data show the monthly BOP results have been in surplus position since July. For 2014, the BSP forecasts BOP may still […]

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Delta brings back bare-bones fares to keep leisure travelers

For travelers who just want an airline seat and not much else, Delta Air Lines, Inc. is bringing back a “Basic Economy” fare with even fewer frills than a standard coach seat. After a hiatus of several months, Delta is resurrecting its lowest economy class ticket as it seeks to keep bargain carrier Spirit Airlines, […]

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Marina acts to ensure safety in domestic sea transport

In line with the Department  of Transportation and Communications (DOTC)  Order No. 2012-01 and function of Maritime Industry Authority (Marina) to strictly implement precautionary, safety and security measures to ensure “safe, fast, efficient and reliable’ water transportation service,” all concerned  units at Marina central units and regional offices have been  directed to operationalize ‘Ligtas Byaheng […]

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China, Russia mull high-speed Moscow-Beijing rail line

Beijing– China and Russia are considering building a high-speed rail line thousands of kilometers from Moscow to Beijing that would cut the journey time from six days on the celebrated Trans-Siberian to two, Chinese media reported Friday. The project would cost more than $230 billion and be over 7,000 kilometers (4,350 miles) long, the Beijing […]

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Germany faces new Lufthansa strike after rail stoppage

Berlin– A leading German pilots’ union has called a new 35-hour walkout at Lufthansa starting Monday in an ongoing dispute over retirement benefits after a weekend of train strikes. The stoppage will target some passenger flights across Germany from Monday at 1100 GMT until just before midnight on Tuesday, the Vereinigung Cockpit union said in […]

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LBC acquires brand new Mitsubishi and Fuso vehicles

LBC Express, Inc., the country’s largest express courier, cargo and money remittance service company, recently took delivery of brand-new Mitsubishi and Fuso vehicles from Mitsubishi Motors Philippines Corporation (MMPC). LBC has been moving anything and everything for the Filipinos. For more than 60 years, LBC has provided hassle free delivery via air, land, and sea […]

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Ayala sets $350M for power and infra

Ayala Corporation, the  country’s oldest industrial conglomerate, will invest an extra $350 million in new power and infrastructure projects in the next three to four years to diversify its income stream, a senior official told Reuters. The new spending will come on top of $1 billion Ayala had already pledged to invest in July, 2012 […]

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Cigarette firms cut down production in Q3 – BIR

The Bureau of Internal Revenue (BIR) said that local cigarette manufacturers had cut-down production in the third-quarter this year that resulted in slimmer “sin” tax collection during the period. BIR Commissioner Kim S. Jacinto-Henares, said that tobacco companies lowered their production volume from July to September this year ahead of the tax stamp or Internal […]

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Leadership in challenging times

Financial executives all over the globe gather last week to attend a 3-day conference in Makati. An article I wrote for the World Congress souvenir program is about global reforms and change and if financial executives are ready for these.  It was more general in nature but I am excited to write specific steps that […]

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