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Citigroup, JPMorgan Announce Senior Hires in China
SHANGHAI – Citigroup and JPMorgan are clearly seeing a bright prospect in China, whose economy continues to be in the downturn, as manifested in their latest senior appointments aimed at…
China’s ICBC Overtakes Wells Fargo As World’s Most Valuable Bank
The Industrial & Commercial Bank of China Ltd (ICBC) is now the world’s most valuable bank, overtaking US bank Wells Fargo & Co, after it posted market capitalization of USD315…
Moody’s Says Asia-Pacific Economies More Immune to External Shocks
HONG KONG – Global rating agency Moody’s Investors Service said most countries in the Asia-Pacific region have a relatively high degree of immunity to external economic shocks with divergent rating…
China’s Manufacturing Activity Slows in April
SHANGHAI, CHINA – The latest flash HSBC / Markit PMI survey showed that China’s factory activity slowed to its lowest level in a year in April, with the purchasing managers’…
McDonald’s Shutting Down 700 Stores Globally This Year
The world’s largest chain of hamburger fast food restaurants, McDonald’s, announced that it will close about 700 stores around the world this year to turn around global sales declines. Details…
Obama Confirms Two Hostages Accidentally Killed in US Counterterror Operation, Takes Full Responsibility
United States President Barack Obama has confirmed that two hostages held by Al Qaeda were accidentally killed in a US counterterrorism operation, expressing grief and condolences for the drone strike.…
Philippine Carrier Cebu Pacific Seeks To Expand Flight Frequencies To Australia
MANILA, PHILIPPINES – Low-cost Philippine carrier Cebu Pacific Air announces interest to further expand operations in Australia by seeking more seat entitlements in the country. Cebu Pacific, a publicly-listed subsidiary…
Philippine Bureau of Customs Chief John Sevilla Resigns
MANILA, PHILIPPINES – Commissioner John Sevilla, the head of the Bureau of Customs in the Philippines, has tendered his resignation on Thursday, citing vague reasons for his decision. Commissioner Sevilla…
APEC Members Urged To Enhance SME’s Role in Automotive Industry
MANILA, PHIILPPINES – Member economies of the Asia-Pacific Economic Cooperation (APEC) must enhance the participation of small and medium enterprises (SMEs) in the automotive industry to spur regional growth, a…
EU Decision Saves Philippine Fishing Industry – President Aquino
MANILA, PHILIPPINES – Philippine President Benigno Aquino III welcomed the European Union’s decision to lift its yellow-card warning on the Philippines, moving the country out of the list of countries…
EU Lifts Warning Against Philippines on Illegal Fishing
CEBU, PHILIPPINES – The Philippines has been removed from the list of countries that the European Union (EU) has threatened with a trade ban due to illegal, unreported, and unregulated…
Philippine Showbiz Briefs – Janice De Belen, Gerald Anderson, Heart Evangelista in the Spotlight
MANILA PHILIPPINES – Veteran actress Janice de Belen has denied reports linking her to the recent break-up of Gerald Anderson and Maja Salvador while Senator Chiz Escudero said wife Evangelista…
Maybank Philippines Posts Record Php1 Billion Net Income in 2014
MANILA, PHILIPPINES – Maybank Philippines Inc (MPI), the local unit of Malaysia’s largest bank and financial group, posted a record net income of Php1.01 billion (USD22.6 million) in 2014. The…
Jatropha (Tuba-Tuba) Downs 11 Kids in Antipolo
ANTIPOLO CITY, PHILIPPINES – Eleven children, aged six to 12, were hospitalized after eating the fruits of Jatropha, locally known as tuba-tuba in Antipolo Tuesday afternoon, authorities said today. The…
Clinton Foundation To Accept Donations Only from Six US Allied Nations
NEW YORK – The Clinton Foundation said it will only accept donations from governments of Australia, Canada, Germany, Netherlands, Norway and the United Kingdom, taking out Mid-eastern governments. The foundation…
22nd APEC Automotive Dialogue Kicks Off in the Philippines
MANILA, PHILIPPINES – Stakeholders in the automotive industry are gathering for the 22nd Asia-Pacific Economic Cooperation (APEC) Automotive Dialogue, which is held Dusit Thani Hotel in Makati City from April…
5,800 Philippine Public Schools to Offer Senior High in 2016
MANILA, PHILIPPINES – After years of rigorous planning and consultations with education stakeholders, the Department of Education (DepEd) has identified and mapped more than 5,800 public schools set to offer…
Indonesia Sentences American Couple From Chicago for Mother’s Murder
JAKARTA, INDONESIA – An Indonesian court has sentenced to 10 years and 18 years in prison an American couple, from the state of Chicago, for the murder of the convicted…
Philippine Supreme Court Nullifies Tañon Strait Exploration Contract with Japex
MANILA, PHILIPPINES – The Supreme Court (SC) of the Philippines has ruled as unconstitutional the contract that allowed the exploration, development and exploitation of petroleum resources within Tañon Strait in…
China’s Private Equity Market Set For Slower Growth This Year
SHANGHAI, CHINA – After a robust 2014, China’s private equity market is forecast to grow at a slower pace this year, a report by Bain & Co showed. The industry…