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Japan's biggest airline ANA 'in talks' to invest in PAL

Jan 23, 2019 - 8:45 PM

Philippine Airlines says there is 'no definite agreement' yet with any firm, but maintains that it has 'always been open to the possibility of a strategic investor'

MINOR SHAREHOLDER? Japan's All Nippon Airways parent firm may soon acquire a minority stake at PAL Holdings. ANA photo from their Instagram account, PAL photo

Duty Free to open new stores in Palawan, Bohol in 2019

Jan 23, 2019 - 4:20 PM

Duty Free Philippines Corporation also records a 2% increase in sales in 2018

PHILIPPINES' FINEST. Duty Free Philippines Corporation COO Vicente Angala says most homegrown products will be added at the 'Philippines' Finest' kiosks in line with Tourism Secretary Bernadette Romulo-Puyat's thrust. Photo by Aika Rey/Rappler

Agriculture grows a meager 0.56% in 2018, misses target

Jan 23, 2019 - 3:40 PM

The 2018 growth rate of the agriculture sector is far below the target of 4%

Renault board to replace Ghosn on January 24

Jan 22, 2019 - 9:33 PM

Renault, part of a powerful alliance with Japanese carmakers Nissan and Mitsubishi, has officially declined to comment on Carlos Ghosn's replacement

GHOSN. In this file photo taken on November 8, 2016, Renault-Nissan Alliance chief executive Carlos Ghosn poses for a portrait after an interview at the Web Summit at Parque das Nacoes in Lisbon. File photo by Patricia De Melo Moreira/AFP

Philippines, Japan sign $1.54-billion loan deal on North-South Railway

Jan 22, 2019 - 12:45 PM

The North-South Commuter Railway project will 'seamlessly' connect Philippine National Railways lines in Clark, Pampanga to Calamba, Laguna

RAILWAY DEAL. Philippine Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency Director General Shigenori Ogawa sign the loan agreement for the North-South Commuter Railway. Photo from the Department of Transportation

Another oil price hike set for January 22

Jan 21, 2019 - 4:50 PM

The Department of Energy cites weak sentiments in the Asian gasoline market amid excess regional supply

Henry Sy Sr dies at 94

Jan 19, 2019 - 10:43 AM

(3rd UPDATE) SM Group founder Henry Sy Sr, the Philippines' richest man, passed away peacefully in his sleep,' the SM Group says in a statement

HENRY SY. Photo from Forbes

Indonesia's Go-Jek invests in Coins.ph

Jan 18, 2019 - 5:47 PM

Indonesian ride-hailing giant Go-Jek refuses to disclose the amount it has invested in Coins.ph, but says it is a 'substantial' acquisition of shares

INVEST. Indonesian unicorn Go-Jek invests in Philippine digital wallet startup Coins.ph. Go-Jek photo from Shutterstock, platform image from Coins.ph

Ghosn received 8M euro in 'improper' payments – Nissan

Jan 18, 2019 - 3:34 PM

'Nissan views the payments Ghosn received from [Nissan-Mitsubishi B.V.] to be the result of misconduct and will consider measures to recover from Ghosn the full sum,' the firm says in a statement

GHOSN. In this file photo taken on April 29, 2005 then-Nissan's chief executive Carlos Ghosn gestures during the Renault general assembly in Paris. File photo by Eric Feferberg/AFP

Tesla recalls more than 14,000 cars in China over Takata airbags

Jan 18, 2019 - 2:20 PM

The affected vehicles in China are Model S cars made between February 2014 and December 2016, the State Administration of Market Regulation says

Netflix shares slip as spending weighs on profits

Jan 18, 2019 - 9:55 AM

(UPDATED) Netflix says it had expected its margin to dip because of the number of shows that launched in the quarter

NETFLIX. The Netflix logo. Image from the Netflix website

Japan's Hitachi freezes British nuclear project

Jan 17, 2019 - 10:01 PM

Hitachi CEO Toshiaki Higashihara told reporters that Britain's looming EU departure had had 'no bearing' on the decision

Ghosn appeals against Japan bail rejection

Jan 17, 2019 - 3:34 PM

If his appeal for bail is denied, Carlos Ghosn, the former Nissan boss, is likely to be kept behind bars until a trial – which could take 6 months

APPEALS. In this file photo taken on January 6, 2015 then President and CEO of Japan's auto company Nissan Carlos Ghosn during a press conference in Rio de Janeiro. Photo by Yasuyoshi Chiba/AFP

Hanjin recovery 'uncertain' – Fitch Ratings

Jan 16, 2019 - 7:20 PM

Fitch Ratings says the rehabilitation plan for Hanjin Heavy Industries and Construction Philippines may take time to execute

DOUBTS. Fitch Ratings says Hanjin's recovery is uncertain. AFP photo

Japan-funded projects for signing in Q1 2019

Jan 16, 2019 - 4:35 PM

More flood control and road projects are set to be funded by Japan this year

Gov't to deregulate sugar imports in 2019

Jan 16, 2019 - 10:52 AM

Budget Secretary Benjamin Diokno says the move will 'put pressure on the domestic economy to compete with the rest of the world'

DEREGULATE. The Philippine government will be relaxing restrictions on sugar imports in 2019. Rappler file photo

DOLE to assist 3,800 Hanjin workers

Jan 15, 2019 - 9:43 PM

Labor Secretary Silvestre Bello III says Hanjin workers will be receiving separation pay, and will be profiled to see if they can get jobs in government projects

AID. The labor department will be assisting thousands of Hanjin workers after the South Korean shipbuilder went bankrupt. Photo from HHIC-Phil website

Hanjin crisis threatens banks' credit ratings – Moody's

Jan 15, 2019 - 5:15 PM

(UPDATED) Debt watcher Moody's says the loan exposure of 5 Philippine banks is a credit negative and will drive credit costs higher

Ivanka Trump to help U.S. choose candidate for World Bank

Jan 15, 2019 - 3:22 PM

Jessica Ditto, the White House Deputy Director of Communications, says reports that Ivanka Trump 'is under consideration are false'

IVANKA. In this file photo, Ivanka Trump walks through the lobby of Trump Tower on November 21, 2016 in New York City. File photo by Spencer Platt/Getty Images/AFP

Dennis Uy's Phoenix Petroleum, China's CNOOC get nod for LNG terminal

Jan 14, 2019 - 8:00 PM

The Department of Energy grants Tanglawan Philippines LNG Incorporated the notice to proceed to build a liquefied natural gas terminal in Batangas

GRANTED. The Department of Energy grants the joint venture of Dennis Uy and China's CNOOC the notice to proceed to build an LNG facility. Rappler file photos

Big-time oil price hike set for January 15

Jan 14, 2019 - 7:30 PM

The Department of Energy says the increase is due to oil-producing countries cutting their output to stabilize global prices

Philippine stocks finally climb to 8,000

Jan 14, 2019 - 5:15 PM

The Philippine Stock Exchange index closes at 8,024.14 points on Monday, January 14

Banks downplay Hanjin crisis impact

Jan 14, 2019 - 3:10 PM

The Bangko Sentral ng Pilipinas says the total exposure caused by the bankruptcy of Hanjin Heavy Industries and Construction Philippines is only 0.24% of all loans in the country's banking system

Singapore's CapitaLand in $8-billion deal creating Asia property giant

Jan 14, 2019 - 1:25 PM

Under the agreement, CapitaLand will acquire two units from a subsidiary of state investment firm Temasek

The CapitaLand tower is seen at Singapore's financial business district on January 14, 2019. - Singapore's CapitaLand said on January 14 it has agreed to buy real estate units from a subsidiary of state investment firm Temasek in a massive deal worth eight billion USD. (Photo by Roslan RAHMAN / AFP)

Labor group pushes for policy review after Hanjin bankruptcy

Jan 13, 2019 - 1:25 PM

Hanjin Heavy Industries and Construction Corporation, which filed for bankruptcy, owes $400 million to local banks and another $900 million to South Korean lenders

LIST: Airline seat sale in January 2019

Jan 11, 2019 - 6:20 PM

Here are the airlines offering cheaper fares this January 2019

REHABILITATION. Establishments found to be violating environmental laws will be shut down by the government. Photo from Shutterstock

Estrella-Pantaleon Bridge to be closed for 2 years starting January 19

Jan 11, 2019 - 1:53 PM

The Metropolitan Manila Development Authority says the scheduled closure will be pushed back to January 19, instead of the original date, January 12

CLOSURE. The Estrella-Pantaleon Bridge will be closed to the public on January 19, 2019. File photo by Aika Rey/Rappler

Qualified theft case vs SMHC's Indonesian partners can proceed – CA

Jan 10, 2019 - 4:50 PM

The Court of Appeals says the Indonesian partners 'committed wrongful acts to the detriment of the corporation'

Cebu Pacific has new baggage rules starting January 15

Jan 10, 2019 - 2:45 PM

Passengers can purchase baggage allowance from booking up to 4 hours before their flight

BAGGAGE POLICY. Cebu Pacific will be implementing a new check-in baggage policy starting January 15. Photo courtesy of Cebu Pacific

Japan court rejects Ghosn release bid

Jan 09, 2019 - 3:43 PM

Carlos Ghosn stands accused of underreporting his income in documents to investors, apparently in response to criticism that he earned too much

GHOSN. In this file photo taken on November 8, 2016, Renault-Nissan Alliance chief executive Carlos Ghosn poses for a portrait after an interview at the Web Summit at Parque das Nacoes in Lisbon. File photo by Patricia De Melo Moreira/AFP

Low prices leave Benguet vegetables rotting

Jan 09, 2019 - 3:21 PM

Long lines of vegetable trucks wait to unload their produce – only to be told that the prices are too low

LA TRINIDAD Vegetable Trading Post. Rappler file photo

Philippine Airlines launches more flights to Cambodia, Vietnam

Jan 08, 2019 - 2:36 PM

The Philippine flag carrier will launch flights from Manila to Phnom Penh in Cambodia and Hanoi in Vietnam this summer

CAMBODIA. The Royal Palace in Phnom Penh is the residence of the King. Wikicommons photo by Jean-Pierre Dalbéra

Duterte agrees to certify bill on higher cigarette, alcohol tax as urgent

Jan 08, 2019 - 2:21 PM

President Rodrigo Duterte backs a proposal to jack up tobacco tax to P60 per pack from P30 per pack, embodied in the bill filed by Senator Manny Pacquiao

SIN TAX. Lawmakers wants to increase the taxes imposed on tobacco and alcoholic drinks.

Japan starts $9 departure tax for travelers

Jan 07, 2019 - 2:26 PM

The International Tourist Tax will cover everyone regardless of nationality – from business people to holidaymakers older than two years of age – and will be tacked on to the price of a airline ticket

Parañaque court orders arrest of Japanese gaming tycoon Kazuo Okada

Jan 06, 2019 - 9:55 PM

The tycoon says the allegation that he committed estafa is 'absolutely absurd'

This photo taken on Janaury 23, 2017 shows Kazuo Okada, chairman of Universal Entertainment Corporation, getting into his car after attending an event at Malacanang Palace in Manila. (Photo by TED ALJIBE / AFP)

Son says Carlos Ghosn to 'vigorously' defend himself in Japanese court

Jan 06, 2019 - 6:36 PM

Anthony Ghosn says his father 'will give his version of events for the first time' on Tuesday

(FILES) In this file photo taken on November 1, 2013, Japan's auto giant Nissan Motor president Carlos Ghosn announces the company's first half financial result ended September at the company's headquarters in Yokohama, suburban Tokyo. - Nissan board members have sacked Carlos Ghosn as chairman, local media reported on November 22, 2018, which would be a spectacular fall from grace for the once-revered boss whose arrest for financial misconduct stunned the car industry and the business world. (Photo by JIJI PRESS / JIJI PRESS / AFP)

Tubigon port in Bohol reopens

Jan 05, 2019 - 10:58 AM

The newly renovated and rehabilitated port can now accommodate more ships and passengers

EXPANDED, IMPROVED. The Port of Tubigon in Bohol reopens on January 5, 2019. Photo from the DOTr Facebook page

Bicol farmers affected by Usman to get soft loans, aid

Jan 04, 2019 - 10:03 PM

At least 28,714 farmers and 30,900.07 hectares in Bicol were affected by Usman and the tail end of the cold front

DESTROYED. This riceland in Albay has turned into a lake for several days due to flooding brought by Tropical Depression Usman and the Tail End of the Cold Front in December 2018. Photo by Rhaydz Barcia/Rappler

Ghosn set for court hearing in Japan over detention

Jan 04, 2019 - 9:07 PM

Article 34 of Japan's Constitution stipulates that 'no person shall be arrested or detained without being at once informed of the charges against him or without the immediate privilege of counsel.'

Men walk past a screen showing a news programme featuring Nissan chairman Carlos Ghosn in Tokyo on November 20, 2018. Nissan and Mitsubishi shares plunged on November 20, as the automakers prepared to oust chairman Carlos Ghosn a day after he was arrested for alleged financial misconduct. Toshifumi KITAMURA / AFP

Apple warning pummels markets worried about growth outlook

Jan 04, 2019 - 9:37 AM

Apple cites steeper-than-expected 'economic deceleration' in China and emerging markets for cutting its revenue outlook for the latest quarter

TIM COOK. Apple CEO Tim Cook at the Worldwide Developers Conference keynote on June 4, 2018. Screenshot from livestream.


Apple cuts outlook, sees 'challenges' in China, emerging markets

Jan 03, 2019 - 7:35 AM

The company slashes its revenue guidance for the first fiscal quarter of 2019, ended December 29, to $84 billion – sharply lower than analyst forecasts averaging $91 billion

APPLE IN CHINA. Customers queue outside an Apple store to get their hands on the new iPhone XR in Shanghai on October 26, 2018. File photo from AFP

Qatar Airways buys 5% stake in China Southern Airlines

Jan 02, 2019 - 11:15 PM

The deal is part of Qatar Airways' strategy to 'invest in the strongest airlines around the world'

QATAR AIRWAYS. A visitor walks past a likeness of a Qatar Airways Airbus A-380 at the International Tourism Trade Fair in Berlin on March 7, 2018. Photo by John Macdougall/AFP

Historic music retailer HMV collapses due to digital surge

Dec 29, 2018 - 12:12 AM

His Master's Voice (HMV), known worldwide for its iconic logo showing a dog listening to a record player, is the last major music retailer in Britain

HMV. Pedestrians walk past a HMV store in central London on December 28, 2018. Photo by Niklas Halle'n/AFP)

Tesla names 2 directors as part of Elon Musk U.S. fraud settlement

Dec 28, 2018 - 11:48 PM

Tesla taps Oracle co-founder Larry Ellison and Walgreens Boots Alliance Executive Vice President Kathleen Wilson-Thompson for its board of directors

Starbucks' expansion runs out of steam in South Africa

Dec 26, 2018 - 9:25 PM

Taste Holdings, the local licensee of Starbucks in South Africa, struggles to control operational costs and debt

Hundreds of people queue during the official opening of South Africa's first Starbucks store, also the US coffeehouse chain's first store in Sub-Saharan Africa, in Johannesburg on April 21, 2016. (Photo by GIANLUIGI GUERCIA / AFP)

DOTr, San Miguel to finalize Bulacan Int'l Airport deal

Dec 24, 2018 - 4:37 PM

The Bulacan International Airport inches closer to construction, but will still have to go through several layers of scrutiny by government agencies

Banks urged to post remittance charges online for OFWs

Dec 21, 2018 - 4:39 PM

ACTS-OFW party-list group cites World Bank Remittance Prices report that shows banks remain the most expensive means to send cash to the Philippines

TRANSPARENCY. ACTS-OFW party-list urges banks to post remittance rates. Shutterstock photo

Bank schedules for Christmas 2018

Dec 19, 2018 - 8:45 PM

Here are the operating hours of Philippine banks this holiday season

SMC South highways will be toll-free on Christmas Eve, New Year’s Eve

Dec 19, 2018 - 8:25 PM

Fees won’t be collected at the toll gates of the following highways: NAIAx, Skyway, SLEX, and Star Tollway

PLDT, Globe subscribers to get 8-digit telephone numbers in March 2019

Dec 19, 2018 - 2:32 PM

The 8-digit format ensures a sufficient resource pool to cater to the rapid growth of landline customers in major cities