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  • Competition watchdog monitors oil retailers amid price hike

    May 15, 2018 5:03 AM 4

    MANILA – A collusion among oil retailers could prompt the Philippine Competition Commission (PCC) to investigate industry players to ensure that oil prices remain competitive, an official said Tuesday. Speaking to DZMM, PCC Commissioner Johannes Bernabe said the competition watchdog is not mandated to meddle in oil pricing but could investigate unfair

  • Japan Airlines bares own budget airline

    May 14, 2018 11:15 AM 7

    TOKYO―Japan Airlines (JAL) on Monday announced plans to launch a budget airline, hoping to take advantage of an expected expansion in the nation’s low-cost market ahead of the 2020 Tokyo Olympics. The new carrier would run medium-haul international services between Tokyo and major cities in Asia, the US and Europe from summer 2020, JAL said in a statement

  • UAE investing $45-biliion to expand refineries

    May 14, 2018 11:13 AM 6

    ABU DHABI, United Arab Emirates—Abu Dhabi National Oil Co. on Sunday announced a $45-billion ($38-billion-euro) investment to modify an existing facility into one of the world’s largest integrated refining and petrochemicals plants. The project aims to boost ADNOC’s refining capacity by 65 percent to 1.5 million barrels per day by 2025, the state-owned

  • Another BSP rate hike expected

    May 14, 2018 10:54 AM 5

    Economists say that the Bangko Sentral is likely to hike policy interest rates again within the year, should current inflation pressures remain. In a report, ING Bank Manila Senior Economist Joey Cuyegkeng said another key policy rate hike is likely to happen sometime in the fourth quarter, after the Monetary BoarD raised interest rates by 25 basis points

  • Canada, Apple back development of carbon-free aluminum smelting tech

    May 12, 2018 10:04 AM 6

    MONTREAL (AFP) - Canada and Quebec province, as well as tech giant Apple, announced Thursday their backing of aluminum producers Alcoa and Rio Tinto's new joint venture to develop a carbon-free smelting process. Prime Minister Justin Trudeau made the announcement with executives of the three companies on hand. Apple is investing Can$13 million (US$10 million)

  • Foreign direct investments in PH continue to strengthen in February

    May 11, 2018 7:49 AM 7

    The country's central bank governor says this reflects investor confidence in the country’s sound macroeconomic fundamentals and growth prospects MANILA, Philippines – Strong foreign direct investment (FDI) inflows into the country continued in February this year, surging by 46.4% to $573 million from $392 million in the same period last year, data from Bangko

  • MRT breaks no-unloading streak

    May 11, 2018 5:34 AM 7

    MANILA – The MRT-3 has been without unloading incidents for 17 straight days, the longest streak in nearly 4 years, the Department of Transportation said Friday. This surpassed the 13 days without unloading incidents that was recorded in mid-October 2014, the DOTr said on Twitter. Breakdowns have been less frequent and more trains have been running since

  • DTI imposes price freeze on goods in Boracay

    May 11, 2018 1:10 AM 7

    The automatic price ceiling and regular monitoring of prices are pursuant to Proclamation No 475, which placed 3 barangays in Boracay under a state of calamity AKLAN, Philippines – The Department of Trade and Industry (DTI) has imposed a price freeze on basic commodities in 3 barangays of Boracay Island that are under a state of calamity. The automatic

  • Retired US vice admiral continues leadership mission as CEO

    May 10, 2018 10:18 AM 6

    Anyone can be a boss but not everyone can be leader, says retired US Navy vice admiral John Ryan. As president and CEO of the Center for Creative Leadership, Ryan can proudly say that he has helped train leaders in over 160 countries. "They start every day by saying: I want to help bring out the best in the men and women I'm privileged to lead," said Ryan. Catch

  • Flying to BIMP-EAGA? Travel tax waived for certain travelers

    May 10, 2018 10:17 AM 5

    BIMP-EAGA includes Brunei, Indonesia, and Malaysia, and the travel tax exemption aims to 'accelerate economic development in Mindanao and Palawan' MANILA, Philippines – President Rodrigo Duterte renewed the travel tax exemption for travelers from Mindanao and Palawan who will fly to the regional grouping called BIMP-EAGA. BIMP-EAGA refers to the Brunei