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  • How a National ID Can Change Business

    August 24, 2018 8:10 AM 15

    Are you in favor of the national ID law? The latest SWS survey results show that 7 in 10 Filipinos support the national ID system. So how will it work? The Philippine Identification System or PhilSys will provide each registered person a unique and permanent PhilSys number and a physical ID card called the PhilID for use in transactions that require

  • PNB names Wick Veloso as president effective Nov. 16

    August 24, 2018 8:03 AM 16

    MANILA -- Tycoon Lucio Tan's Philippine National Bank said Friday it had named a new president, veteran banker Jose Arnulfo "Wick" Veloso. Veloso, the CEO of HSBC Philippines, will replace outgoing PNB president Reynaldo Maclang, who will retire on Nov. 15. The incoming PNB president is the first Filipino to lead the Philippine operations of Hong Kong's

  • Espenilla looks forward to 'full recovery' from cancer

    August 24, 2018 5:54 AM 20

    MANILA -- Bangko Sentral ng Pilipinas Governor Nestor Espenilla said Friday he was looking forward to a "full recovery" from cancer after battling the disease in his first full year in office. The tongue cancer diagnosis "added to the complication" of keeping prices stable while ensuring economic growth, Espenilla said in an exclusive interview with ANC's

  • Sony to release AI-infused robotic puppies in the US

    August 24, 2018 12:16 AM 32

    SAN FRANCISCO -- Sony on Thursday announced that its Aibo robotic dogs infused with artificial intelligence will be unleashed on the US market by the year-end holiday season, with a price tag of $2,899. The sixth-generation mechanical pup combines robotics with image sensors and artificial intelligence, enabling it to learn behaviors and recognize faces

  • DICT eyes selection of third telco by December

    August 23, 2018 11:58 AM 22

    MANILA - The Department of Information and Communications Technology (DICT) is looking to finish the selection process for the country's third major telecommunications company by December this year at the latest. DICT Officer-in-Charge Eliseo Rio said Thursday the selection process may be finished even earlier. “We would like to do it earlier, matagal

  • PH urged to invest more in IT infra instead of roads, bridges

    August 23, 2018 11:34 AM 17

    MANILA - The Philippines needs to invest more in IT infrastructure instead of in roads and bridges, a fund manager said Thursday. Peter Lundgreen, founding CEO of Lundgreen's Capital, said that while the Philippines needs better roads and other infrastructure, the country would see a bigger return on its money if it built better IT infrastructure

  • Bangko Sentral doesn't expect inflation to hit 6 or 7 pct

    August 23, 2018 9:25 AM 18

    MANILA - The Philippine central bank does not expect inflation to reach 6 or even 7 percent, and is optimistic that it will ease after peaking either in August or September, its governor said on Thursday. The central bank has raised rates by 100 basis points since May, including a last 50-bps hike on Aug. 9, and signaled it was open to further tightening

  • Seat sale: Cebu Pacific to fly from Clark to Davao, Tagbilaran

    August 23, 2018 7:42 AM 15

    MANILA -- Cebu Pacific said it would start daily flights from Clark Airport to Davao and Tagbilaran starting in November. A P599 base fare will be offered for the new routes, with bookings up to Aug. 28 or until seats last, Cebu Pacific said in a statement. The country's largest airline said Flight 5J 613 will leave Clark for Tagbilaran at 9:55 a.m. while

  • San Miguel Purefoods to raise P142.8 billion from share sale

    August 23, 2018 2:08 AM 17

    MANILA -- San Miguel Corp said Thursday its food unit sought regulator approval to raise up to P142.8 billion from the sale of existing shares. San Miguel Food and Beverage plans to sell 887,000,000 common shares, with an over allotment 133,050,000 shares at P140 apiece. The shares are held by its parent, San Miguel Corp, SMC told the stock exchange

  • Credit Suisse freezes $5B in Russian money amid U.S. sanctions

    August 22, 2018 5:29 PM 17

    ZURICH - One of Switzerland's largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs ($5 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow. The move by Credit Suisse, which owned aircraft surrendered by Russian tycoon Oleg Deripaska and had lent money