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Philippines

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  • The Philippines has enough fiscal space to increase spending with revenues growing at a double digit pace, said Purisima, an accountant by training. Manila's efforts to collect more revenue by waging a campaign against tax evasion and corruption helped raise its tax-to-GDP ratio to 13.6 percent in 2014 from 12.1 percent in 2010 when President Benigno Aquino...

  • HONG KONG/ BANGKOK, May 30- Thai billionaire Charoen Sirivadhanabhakdi is considering buying cognac maker Louis Royer, people familiar with the matter said, potentially locking horns with a Philippine tycoon for the French firm amid a forecast rebound in Asian demand for luxury spirits. Liquor firm Emperador Inc, controlled by the Philippines'...

  • HONG KONG/ BANGKOK, May 30- Thai billionaire Charoen Sirivadhanabhakdi is considering buying cognac maker Louis Royer, people familiar with the matter said, potentially locking horns with a Philippine tycoon for the French firm amid a forecast rebound in Asian demand for luxury spirits. Liquor firm Emperador Inc, controlled by the Philippines'...

  • LONDON, May 28- The South China Sea has become the most important testing ground for the changing economic, political and military relationship between China and the United States. China and the other littoral states dispute ownership as well as the rights to resources and maritime control that flow from it. China says it owns the outcrops so is entitled to...

  • MANILA, May 28- Philippine economic growth unexpectedly slowed to a six-year low in the first quarter, but the central bank said it would not ease policy as consumer and public spending were set to pick up. Still, economists doubted Manila's 7-8 percent growth target for the full year could be met without additional interest rate cuts or a sharp increase in fiscal...

  • Philippine economic growth slows to 5.2 percent in 1Q Thursday, 28 May 2015 | 12:28 AM ET

    MANILA, Philippines— Sluggish government spending slowed Philippine economic growth in the first quarter of this year, officials said Thursday. Decades of corruption in government, and vulnerability to natural disasters such as typhoons, have meant the Philippines lagged other Southeast Asian nations such as Thailand, Malaysia and Singapore in economic...

  • HONG KONG, May 27- As revenue plummets at China's only legal gambling hub, global casino operators have a new mantra- what happens in Vegas, must also happen in Macau. The latter's two new resort projects, worth $3.2 billion, open in Macau later on Wednesday. As well as the mainland's crackdown, Macau's government is forcing casino firms, also including SJM Holdings...

  • Global stocks mostly higher in quiet trading day Monday, 25 May 2015 | 4:49 AM ET

    BEIJING— Asian stocks were mostly higher Monday on a quiet trading day with Hong Kong, Wall Street and London closed for holidays. London and Frankfurt were closed for holidays. Wall Street is closed Monday for Memorial Day.

  • Asian stock markets mostly higher in quiet trading day Sunday, 24 May 2015 | 11:29 PM ET

    BEIJING— Asian stocks were mostly higher Monday on a quiet trading day with Hong Kong, Wall Street and London closed for holidays. Singapore, Manila and New Zealand also rose. GREECE DEBT: Greece's ruling Radical Left Coalition rejected a call by party hardliners to skip its next payment to the International Monetary Fund.

  • APEC trade chiefs vow to speed up work in WTO Sunday, 24 May 2015 | 7:32 AM ET

    MANILA, Philippines— Trade ministers from 21 Asia-Pacific countries on Sunday issued strong support to the World Trade Organization's efforts to boost global trade amid a flurry of regional free trade agreements. The FTAAP goal is being pursued as talks for the Trans-Pacific Partnership free trade initiative of 12 countries— including the United States,...

  • MANILA, Philippines— The Philippines' top trade official on Saturday called for support for the integration of micro, small and medium enterprises in global trade, which he said would help reduce poverty and inequality in the Asia-Pacific region. Manila is pushing for greater support for the integration into the global trade and value chain of MSMEs, which...

  • SINGAPORE, May 22- China is likely to hold a 25-30 percent stake in the new Asian Infrastructure Investment Bank while India will be the second-biggest shareholder, delegates said on Friday after a three-day meeting of the bank's founding member-nations. No details of the ownership structure were disclosed, but delegates told Reuters that China would likely...

  • SINGAPORE/ NEW DELHI, May 22- China-backed Asia Infrastructure Investment Bank on Friday set an ambitious target to become operational by the end of the year after a three-day meeting of prospective founding member nations in Singapore. Delegates told Reuters that China would likely take a 25-30 percent stake in the bank, and India was likely to be the...

  • May 22- China will likely take a 25-30 percent stake in the Asian Infrastructure Investment Bank and India is likely to be the second-largest shareholder, delegates attending a meeting of the bank's founding members said on Friday. China's share in the $100 billion lender will be less than 30 percent, an Asian delegate attending the meeting in Singapore told...

  • But move would be good for rice exporters Thailand, Vietnam. JAKARTA, May 21- Indonesia's president could be forced to backtrack on promises to curb rice imports, with analysts saying the country may ship in as much as 1.6 million tonnes of the staple grain this year due to soaring prices at home and the threat of a strong El Nino. "Sometimes Indonesia's policy isn't...

  • Behind the surge in Globe Telecom's Q1 income   Tuesday, 19 May 2015 | 8:38 PM ET
    Behind the surge in Globe Telecom's Q1 income

    Ernest Cu, president & CEO of Globe Telecom, attributes the 43 percent jump in first-quarter net income to a "tremendous increase" in mobile data revenues, alongside steady fixed line data business.

  • Having Nobu in Melco's business mix is great: Pro

    Jonathan Galaviz, partner at Global Market Advisors, says the opening of a Nobu Hotel in the City of Dreams Manila is a great idea, but in the long run, the brand management of Nobu will be key.

  • Why Asia's first Nobu Hotel is in Manila   Monday, 18 May 2015 | 7:20 PM ET
    Why Asia's first Nobu Hotel is in Manila

    CNBC's Susan Li speaks to Robert de Niro and his business partners about why they chose to open Asia's first Nobu Hotel in the Philippines.

  • When will City of Dreams Manila be profitable?   Monday, 18 May 2015 | 6:19 PM ET
    When will City of Dreams Manila be profitable?

    Lawrence Ho, CEO and chairman of Melco International and James Packer, chairman of Crown Resorts, outline their expectations for when the City of Dreams Manila could become profitable.

  • MANILA, Philippines— Robert de Niro and his business partners formally opened Asia's first Nobu Hotel in Manila on Monday as the luxury brand gears up for global expansion. De Niro and his Nobu Hospitality partners, renowned chef Nobu Matsuhisa and Hollywood producer Meir Teper, led the ribbon cutting with Australian billionaire James Packer and Macau tycoon...