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  • Philippine Long Distance to invest in European e-commerce platform

    MANILA -- Philippine Long Distance Telephone is set to invest in a Europe-based electronic-commerce platform provider. PLDT President Napoleon Nazareno said the equity investment could be wrapped up "in a few weeks." Chairman Manuel Pangilinan,

    July 25, 2014 07:20 pm JST
  • Keppel profit up 17% on strong offshore business

    SINGAPORE -- Keppel Corporation, the world's largest offshore oil and gas rig builder, earned a net profit of 406 million Singapore dollars ($327 million) for the second quarter ended June, a 17.1% increase from the same period last year. With the h

    July 25, 2014 05:00 pm JST
  • Need for security network growing in Asia

    TOKYO -- When a flotilla of ships of the Russian Pacific Fleet called at the Vietnamese naval base at Cam Ranh in June, it was a clear indication that Vietnam was courting Russia in a bid to counter China's growing clout. The port call followed

    July 25, 2014 02:40 pm JST
  • Offshoring stymies Japanese export growth

    TOKYO -- Structural shifts have kept Japan's exports lackluster as the shift toward overseas manufacturing negates the benefits of the weak yen. Many experts expect exports to grow gradually as the global economy recovers, but official trade dat

    July 25, 2014 01:59 am JST
  • Philippine companies raising capital with creativity and ease

    MANILA -- International Container Terminal Services (ICSTI) and GT Capital Holdings, two domestic companies on expansion rolls in a burgeoning economy, are breaking new ground raising capital - and feeding strong international demand for Philippine

    July 24, 2014 09:30 pm JST
  • Japan developing rain forest evaluation system

    TOKYO -- Japanese researchers are developing a system to help Southeast Asian countries protect biological diversity in tropical rain forests. The Environment Ministry and Kyoto University plan to develop a low-cost, satellite-based system to as

    July 24, 2014 12:00 am JST
  • Weaponizing the world

    Military spending in 2013 showed year-on-year growth worldwide in all regions except for the U.S., Europe and Oceania. Increases were particularly high in emerging economies. China has nearly tripled its military spending over a decade, and now acco

    July 24, 2014 12:00 am JST
  • Cebu Pacific and Tigerair building strategic alliance

    MANILA -- Cebu Pacific and Tiger Airways, the largest budget airlines in the Philippines and Singapore respectively, have announced an "interline" alliance that will give the two carriers the largest network between the Philippines and the rest of t

    July 22, 2014 08:16 pm JST
  • Philippines' Universal Robina buys New Zealand snack firm for $610M

    MANILA -- Universal Robina of the Philippines has purchased New Zealand's largest snack food company in a deal worth 700 million New Zealand dollars ($610 million). The deal, subject to regulatory approval, marks Universal Robina's first move ou

    July 21, 2014 05:40 pm JST
  • Tycoon revisits Chinese partner for gas exploration in disputed area

    MANILA -- Philippine tycoon Manuel Pangilinan, chairman of Philex Petroleum, is once more approaching China National Oil Offshore with a view to joint exploration of Reed Bank, a disputed area in the South China Sea.Philex Petroleum owns 60.45% of L

    July 18, 2014 07:58 pm JST
  • Asian currency swap pool doubles to $240B

    TOKYO -- An agreement doubling the size of an Asian currency swap framework went into effect Thursday, strengthening a regional financial safety net, Japan's finance ministry said. The Chiang Mai Initiative Multilateralization grows to $240 bill

    July 18, 2014 12:56 am JST
  • Southeast Asia emerging as a new battlefield among credit card companies

    HANOI/YANGON -- Credit card companies are cultivating markets in Southeast Asia, where rising affluence is spurring the spread of electronic payment systems -- and allowing consumers to spend more than what they have in the bank. MasterCard in J

    July 17, 2014 01:00 pm JST
  • Death toll rises to 38 as Typhoon Rammasun leaves Philippines

    MANILA -- At least 38 people have died in the aftermath of Typhoon Rammasun, which began moving away from the Philippines on Thursday. Ten people were injured and eight others were missing as of 6 a.m., local time, said Alexander Pama, executive dir

    July 17, 2014 12:56 pm JST
  • Bruce Stokes: Japan, China neck and neck in Asian popularity contest

    The rivalry between China and Japan is heating up. Recent confrontations in the East China Sea have only complicated the countries' long-standing economic competition, in which growing portions of the region's population see China, not Japan, as the

    July 17, 2014 12:00 am JST
  • Typhoon Rammasun kills 6 and cuts power in the Philippines

    MANILA -- At least 6 people were killed and 5 million left without electricity as Typhoon Rammasun rampaged across the main Philippine island of Luzon on Wednesday. While the National Disaster Risk Reduction and Management Council (NDRRMC) repor

    July 16, 2014 09:55 pm JST
  • Thousands flee as Typhoon Rammasun batters Philippines

    MANILA -- Typhoon Rammasun pummeled the Philippines on Wednesday, forcing financial markets and many businesses to close, while thousands of residents were evacuated. The typhoon, packing maximum sustained winds of 150kph and gusts of up to 185k

    July 16, 2014 12:43 pm JST
  • Aquino defends controversial Philippine budget disbursement

    MANILA -- Philippine President Benigno Aquino has defended his administration's budget disbursement acceleration program, the poorly understood and widely criticized fund allocation scheme that has cast doubt on his fight against graft and corruptio

    July 14, 2014 10:16 pm JST
  • Forum Energy gets extension for disputed sea project

    MANILA -- The Philippine government has given Forum Energy another year to prepare for planned drilling activities at a disputed area in the South China Sea. In a Thursday Philippine Stock Exchange filing, Forum's controlling shareholder, Philex

    July 10, 2014 05:10 pm JST
  • Nick Garcia: Rhino horns and global security

    Looking for a secondhand AK-47 and ammunition? Bring about $500 to the black market in northern Thailand. Short of cash? Try selling some rhinoceros horn. An easily pocketable 500-gram chunk could buy up to 90 of the automatic rifles and a few c

    July 10, 2014 12:00 am JST
  • Philippine Airlines code sharing with Etihad

    MANILA -- Philippine Airlines (PAL) and Etihad Airways announced on Wednesday an expanded code share agreement that allows both carriers greater access to the other's route network. The agreement mainly covers the Manila-Abu Dhabi route, but PA

    July 9, 2014 10:15 pm JST