Business & Economy

Dubai-based Kampac investing $5-B ‘Energy City’

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Dubai-based Kampac International PLC yesterday announced plans to invest $5 billion in the country for the establishment of an ambitious “Energy City” that would transform the Philippines as one of the world’s largest energy hubs.

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Drugstore chain owner tops BIR list of taxpayers

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MANILA -- Vivian Que Azcona of Mercury Drug emerged as the country’s top individual income taxpayer for 2012, with several show-biz personalities behind her, according to the Bureau of Internal Revenue (BIR).

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Filipino, China oil firms eye deal in disputed sea

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MANILA -- A Filipino-British company has begun talks with China’s state-owned offshore oil producer for a deal to jointly explore for oil and gas in the Reed Bank a vast offshore area disputed between China and the Philippines, a Filipino official said Wednesday.

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Court ruling on FedEx alarms businesses

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Rulings that curtail the flow of commerce is not only counterproductive, but is destructive to the Philippine economy, businessmen said in reaction to the latest court ruling which nullified the license of FedEx to do business here.

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ALI to rival SM’s Pasay reclamation project

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MANILA -- Property giant Ayala Land Inc. (ALI) has expressed interest to bid for Pasay City’s 300-hectare land reclamation project, potentially giving formidable competition to the unsolicited proposal earlier submitted by rival SM group.

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European firms keen on setting up shop in PH

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More European firms have expressed keen interest in locking in their Philippine investments, given the local economy’s robust growth, improvement in governance and the availability of young, skilled workforce in the country.

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BSP further eases forex rules for foreigners

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The Bangko Sentral ng Pilipinas (BSP) has further relaxed foreign exchange regulations to allow more nonresidents to participate in the local stock market.

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Why US bonds matter to global markets?

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New York (AP) – It’s no surprise that investors get nervous every time politicians debate raising the US debt limit.

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Some workers may lose jobs if 14th-month pay becomes mandatory

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MANILA -- Some workers risk losing their jobs if the bill mandating employers to give 14th-month pay is passed into law, the Department of Labor and Employment (DOLE)'s wage body said during a Senate hearing Wednesday.

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APEC Economic Leaders’ Week 2013 opens in Bali

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Bali, Indonesia, 2 Oct 2013 -- The Leaders and Ministers of 21 Pacific-Rim economies will gather this week in Bali intent on revitalizing trade to keep the global economy on a path to recovery, create jobs and move the region towards more balanced and sustainable long-term growth.

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