Business & Economy

Chinese media laud hacker for US spying

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BEIJING -- Spying on the US is a service to China, state-run media said March 23, singing the praises of a man who confessed to hacking American defense contractors on Beijing’s behalf.

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Moody’s lauded PH economy as more stable than neighbors’ - gov’t

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The Philippines’ stable macroeconomic profile would enable the country to withstand external shocks better than most of its neighbors could, debt watcher Moody’s Investors Service said.

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Rising China risk tarnishes Hong Kong business hub luster

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HONG KONG -- For decades, Hong Kong thrived as an Asian business hub thanks to its killer combination of Western freedoms, independent courts and closeness to mainland China’s booming market. Now political and economic ills from the mainland are eroding that edge.

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Wanted: ‘MSME czar’

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Doing research on the country’s legal framework for small business during the Holy Week, I confirmed that we have more than ample laws to support the development of micro, small and medium enterprises (MSMEs). Indeed, almost every administration since that of President Corazon Aquino passed legislation in support of small firms. During her watch came Republic Act No. 6810 (the Kalakalan 20 Act) in 1989, and RA 6977 (the Magna Carta for Small Enterprises) in 1991.

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Philippine crucifixions a big money spinner

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SAN PEDRO -- The men being nailed to crosses in a Philippine village were seeking salvation, but for corporate sponsors and small-time vendors the Good Friday event was all about quick riches.

Read more: Philippine crucifixions a big money spinner

Assassin’s Creed developer to open new studio in Philippines

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International video game developer company Ubisoft announced Tuesday, March 29, that it will open a new studio in the Philippines.

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Economists want bank secrecy laws relaxed

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A group of prominent economists and sociopolitical thinkers has called for the implementation of a biometric-based national identification system, the easing of stringent bank secrecy laws and the strengthening of the anti-money laundering law to prevent more inflows of dirty money into the Philippine financial system.

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Part of stolen Bangladeshi funds still in Philippine casinos

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MANILA -- About $6.9 million out of $81 million stolen from Bangladesh’s central bank and sent to fake bank accounts in the Philippines remain in local casinos and may still be recovered, the Philippine Senate heard in testimony Tuesday, March 29.

Read more: Part of stolen Bangladeshi funds still in Philippine casinos

Max’s invests in future of Ifugao’s tinawon

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LA TRINIDAD, Benguet -- A leading restaurant chain has committed to buy rice grown in the mountain terraces of the Cordillera, as part of its effort to help preserve these engineering wonders.

Read more: Max’s invests in future of Ifugao’s tinawon

PH eyes bigger share of UAE’s food market

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Philippine food exporters bagged about $109 million (or some P5 billion) in sales at the world’s biggest annual food and hospitality show held at the United Arab Emirates last month.

Read more: PH eyes bigger share of UAE’s food market

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