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(Eagle News) — Maynilad announced on Friday a hike in its prices starting January next year. In a statement on Friday, the utility firm said it will implement an average basic rate adjustment of P0.97 per cubic meter, which is equivalent to 2.80 percent of the P34.51 per cubic meter average basic charge in 2017. “A foreign currency differential adjustment equivalent to 0.60% as applied to the newly approved 2018 average basic charge of P35.48 […]
TOKYO, Japan (AFP) — A Japanese company will start paying part of its employees’ salaries in Bitcoin, as it aims to get better understanding of the virtual currency, a spokeswoman said on Friday. GMO Internet, which operates a range of web-related businesses including finance, online advertising and internet infrastructure, will start paying up to 100,000 yen ($890) monthly by Bitcoin to its employees in Japan from February next year. “Employees can receive salaries by Bitcoin […]
FRANKFURT AM MAIN, Germany (AFP) — German carmaker Daimler on Thursday delivered its first fully electric lorries to companies in Europe, as the global race to mass produce the first generation of “green trucks” heats up. Among the first customers for Daimler’s Fuso eCanter light-weight truck was express delivery service DHL, which said it would use its six vehicles to navigate Berlin’s inner city traffic. The keys to eight other eCanter trucks were handed over […]
TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers is at an 11-year high, a key central bank survey showed Friday, as the world’s number-three economy picks up pace. The Bank of Japan’s Tankan report — a quarterly survey of more than 10,000 companies — showed a reading of 25 among major manufacturers in its December survey, the highest since its December 2006 poll. The report, the broadest indicator of how Japan Inc is faring, […]
by Frankie Taggart and Veronique Dupont Agence France Presse LOS ANGELES, United States (AFP) — The Walt Disney Co. acquisition of a large chunk of 21st Century Fox is expected to reshape the filmmaking landscape, uniting two of the “big six” Hollywood studios under one umbrella for the first time. Disney agreed Thursday to buy key film and television assets from Fox in a $52.4 billion deal set to step up its challenge to Netflix […]
SYDNEY, Australia (AFP) — Australia’s biggest bank, the Commonwealth, has admitted more than 50,000 breaches of anti-money laundering laws, but said it will defend a host of others claims brought against it. The lender, the country’s largest company by market capitalization, was hit with a civil case by Australia’s financial intelligence agency AUSTRAC in August. AUSTRAC alleged the bank engaged in “serious and systemic non-compliance” of anti-money laundering laws involving thousands of transactions. It prompted […]
The Philippine Statistics Authority (PSA) reported on Tuesday that the country’s total trade grew by 10.4 percent in October 2017 from 4.6 percent in the previous month after exports recorded its 11th consecutive month of positive growth. The PSA, an attached agency of the National Economic and Development Authority (NEDA), said exports increased by 6.6 percent to US$5.37 billion — while imports posted a double-digit growth of 13.1 percent to US$8.21 billion. Socio-economic planning secretary […]
NEW YORK, United States (AFP) — Facebook, in a bow to transparency, has announced its plans to declare certain ad revenues in the country where they are made and not in Ireland, where it has a greater tax advantage. The social networking giant said the move was in response to pressure from governments and policy makers for greater visibility into sales made in their countries. “In simple terms, this means that advertising revenue supported by […]
BEIJING, China (AFP) — Google announced Wednesday that it will open a new artificial intelligence research center in Beijing, tapping China’s talent pool in the promising technology despite the US search giant’s exclusion from the country’s internet. Artificial intelligence, especially machine learning, has been an area of intense focus for American tech stalwarts Google, Microsoft and Facebook, and their Chinese competitors Alibaba, Tencent and Baidu as they bid to master what many consider is the […]
TOKYO, Japan (AFP) — Tokyo stocks opened flat Wednesday as investors fled to the sidelines ahead of a rate announcement by the US Federal Reserve, while Toshiba edged up after it settled a dispute with its US partner. The benchmark Nikkei 225 index inched down 0.57 points to 22,865.60, while the broader Topix index was up 0.10 percent, or 1.89 points, at 1,816.97. Wednesday’s Tokyo trade “lacks a clear sense of direction” ahead of the […]
The Rizal Commercial Banking Corp. on Tuesday accused Bangladesh’s Central Bank (BB) of a “massive cover-up” over an $81-million cyber-heist last year, as it rejected allegations it was mostly to blame. The statement came after Dhaka, Bangladesh’s Finance Minister A.M.A Muhith said over the weekend he wanted to “wipe out” RCBC, apparently frustrated over the small amount of money recovered from the overall amount stolen from BB. “Last year’s theft of $81 million of (BB) funds was […]
SYDNEY, Australia (AFP) — ANZ Bank unveiled plans Tuesday to offload its life insurance arm to Zurich for Aus$2.85 billion (US$2.14 billion), making the Swiss giant Australia’s largest retail life insurer by premiums. It follows National Australia Bank selling most of its life insurance business to Japan’s Nippon and Commonwealth Bank shedding its insurance arm to AIA in recent years as Australia’s top lenders streamline operations. ANZ said the sale of One Path Life Australia […]
