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Economy

No plan to revise bank-secrecy rules ank secrecy rules to stay as is–BSP

Riza Lozada The Philippines does not plan to revise soon its existing rules on bank deposit secrecy, according to the Bangko Sentral Ng Pilipinas (BSP).

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Mindanao grid remains power deficient, says energy department

Riza Lozada The Mindanao grid is considered power deficient for the second straight month due to plant outages causing millions of pesos in business losses.

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8990 eyes P9B in bonds float to fund expansion

Mass housing leader 8990 Holdings Inc. seeks to raise up to ₱9 billion in fresh funds from a retail bond offering to further fund its expansion plans.

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External factors to remain as dampener for local bourse

Volatilities in the global market remains a normal thing for now due to the looming interest rate normalization in the US on one hand and the implementation of the additional stimulus program in the euro zone and in Japan on the other.

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US port crisis to take 3 months to resolve

Los Angeles—The leader of the Port of Los Angeles, the nation’s largest, said Saturday it would take three months “to get back a sense of normalcy,” following a labor dispute between dockworkers and employers.

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Shell’s P6.75-B refinery upgrade completed this year

Riza Lozada Pilipinas Shell Petroleum Corp. (PSPC) expects to complete its P6.75-billion refinery upgrade this year to enable the facility to comply with the January 1, 2016, implementation of the Euro IV fuel specification reducing sulfur content in diesel. Company officials said PSPC’s FuelSave gasoline and diesel, which its parent Royal Dutch Shell Plc makes available in 22 countries, is …

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Study pinpoints infra boost needed to end port congestion

Luis Leoncio Port stakeholders have proposed in a report the adoption of permanent and coordinated solutions to prevent a resurgence of the congestion at the Manila ports largely brought about by the Manila truck ban, which the city government lifted last Sept. 13.

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Greece, creditors open to compromise

Athens, Greece — Signs that Greece and its European creditors are open to compromise boosted market hopes on Friday that the sides can reach a deal to save the country from bankruptcy. But any agreement will likely take time, with both sides pressing hard for concessions.After a turbulent week, in which investors feared Athens’ demands to rewrite its bailout terms …

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Harvard educated most IPO leaders last year

Harvard produced the most graduates who were CEOs at their time of their companies’ market debuts in 2014, according to Equilar, an executive compensation data firm.

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Judges weigh options in bid to probe Google

Jackson, Mississippi — Does Google help criminals by allowing its search engine to lead to pirated music or by having its autocomplete function suggest illegal activities?

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