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ADB earmarks P190B for massive infra bid

By Luis Leoncio  The Asian Development Bank (ADB) has allotted nearly $4 billion (P200 billion) to bankroll infrastructure spending under President Duterte, which is expected to reach P1.5 trillion until 2022 when Mr. Duterte’s term ends.

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Razon now 3rd richest in Forbes list; Tan, 4th

Businessman Enrique K. Razon jumped to the third richest man in the country after successes in his drive to expand globally his port operating business, overtaking perennial third placer taipan Lucio Tan, the 2017 Forbes Philippines Rich List showed Razon, Chairman of International Container Terminal Services, saw his wealth rise by $800 million from $3.5 billion to $4.3 billion this …

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Invest rules, not political noises, affect prospects

By Riza Lozada Korean companies operating in the Philippines are packing up and moving to Vietnam not because of political conflict but the cost of operating a business in the country, Korean Chamber of Commerce of the Philippines President Ho Ik Lee said. 

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7 persons under watch for bird-flu symptoms

The Department of Health (DOH) is monitoring the health of seven persons who have been exposed to infected fowls and have shown symptoms of flu. 

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LTFRB imposes P190 million fine on Uber

The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered transportation network company, Uber, to pay a fine of P190 million before it could lift its suspension due to its activation of new drivers into its system. 

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Tax reform plan to serve as ‘fiscal buffer’—DOF chief

The proposed comprehensive tax reform program of the Duterte administration will serve as fiscal buffer to allow the government to pursue its expansionary economic policy anchored on an ambitious “Build, Build, Build” infrastructure program consisting of some 75 major flagship projects that would either be completed or started over the next five years, Finance Secretary Carlos Dominguez III said. 

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Senate approves bill to cut government red tape

The Senate approved the Expanded Anti-Red Tape Act of 2017 which seeks to reduce the requirements for starting and operating businesses by limiting the processing of business documents by not more than three days for small firms. 

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Philex grants insurance worth P3.4 million to residents

Philex Mining Corp. has granted health insurance to 620 individuals, together with their families, worth P1.48 million this year, bringing to P3.4 million the total amount of coverage given to the indigent residents in the outlying communities of its Padcal mine in this province over the past four years. 

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MB strengthens banks vs risks, poor management

The policy-making Monetary Board (MB) seeks to strengthen financial institutions from persistent risks amid the still weak global market and domestic challenges as a result of tighter competition. 

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FPI: Smuggled goods cost P904B under Aquino

By Luis Leoncio  A trade group estimates that some P904.6 bilion worth of products were smuggled into the country during the administration of former President Benigno Aquino III, specifically from 2011 to 2015. 

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