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  • Ayala Corp acquires National Teachers College

    February 8, 2018 4:42 AM 7

    MANILA - Ayala Corp said Thursday it acquired the National Teachers College, expanding its education business. AC Education bought 96 percent of NTC's shares, adding 10,000 to its student population, which will stand at 34,000 after the acquisition, Ayala Corp told the stock exchange. Ayala Corp is also in talks with the Yuchengco Group, which operates

  • Philippines eyeing Alibaba’s financial technology for OFWs

    February 8, 2018 4:24 AM 11

    MANILA, Philippines — The Philippine government might tap Alibaba group’s financial technology solutions to help lower remittance costs for overseas Filipino workers through mobile payment technology. According to the Department of Finance, Ant Financial Group, a unit of Alibaba owned by Chinese tech magnate Jack Ma, is keen in helping the Philippines

  • Trump blames stock market fall on 'good news'

    February 7, 2018 4:50 PM 7

    US President Donald Trump commented on recent stock market volatility for the first time on Wednesday, suggesting a wild sell-off may be due to good news about the economy. The real estate tycoon suggested that was a "big mistake, and we have so much good (great) news about the economy!" Tuesday's sell-off and partial recovery on Wall Street have been fueled

  • UCPB bancassurance business yields P1-billion premiums

    February 7, 2018 4:00 PM 7

    MANILA, Philippines — The start-up bancassurance business of UCPB yielded over P1 billion in total premiums last year and is expected to provide the bank with a steady source of topline revenue with high growth potentials. In the nine months following its launch in April, the bancassurance partnership with life insurer Cocolife and non-life insurance

  • Super consortium taps Changi as technical partner

    February 7, 2018 4:00 PM 7

    MANILA, Philippines — A super consortium of conglomerates has tapped the group behind Singapore Changi Airport as technical partner for its plan to develop the congested Ninoy Aquino International Airport (NAIA). “Yes, the consortium agreed that Changi (Airports International) will be our technical partner,” MPIC president and chief executive officer

  • RCBC faces lawsuit over $81-M bank heist

    February 7, 2018 1:05 PM 5

    DHAKA - Bangladesh's central bank will file a lawsuit in New York against a Philippine bank over the world's largest cyber heist, its finance minister said Wednesday. Unidentified hackers stole $81 million in February 2016 from the Bangladesh central bank's account with the US Federal Reserve in New York. The money was transferred to a Manila branch

  • NCGP offers support for national broadband

    February 7, 2018 8:14 AM 6

    MANILA - The National Grid Corp of the Philippines said Wednesday the government could use some of its facilities for free to show its "willingness" to participate in the development of a national broadband network. "NGCP has always been supportive of this administration’s initiatives towards the use of the dark fiber inherent to the transmission network

  • Steve Wynn resigns as CEO of Wynn Resorts over harassment claims

    February 7, 2018 3:32 AM 11

    US mogul Steve Wynn has resigned from his casino company Wynn Resorts, as the billionaire battles claims that he routinely subjected women who worked for him to unwanted sexual advances. Wynn has denied the accusations published by the Wall Street Journal as "preposterous" and said they were instigated by his ex-wife to seek advantage in their divorce

  • Uber says hackers behind 2016 data breach were in Canada, Florida

    February 7, 2018 1:13 AM 8

    WASHINGTON - The two people who hacked ride-hailing firm Uber's data in 2016 were in Canada and Florida at the time, a company security executive told a US congressional committee on Tuesday. About 25 million people whose data was compromised in the breach live in the United States, Uber Technologies Inc chief information security officer John Flynn

  • Bangko Sentral ready with 'timely action' after inflation hits 3-year high

    February 6, 2018 3:33 AM 7

    MANILA - The Bangko Sentral ng Pilipinas is ready to take "timely action" after inflation in January hit the top end of its forecast, Governor Nestor Espenilla said Tuesday. Consumer prices rose 4 percent last month, the highest since October 2014 and exceeding analysts' forecast of 3.5 percent. Higher taxes on fuel, sugar-sweetened drinks and cars under