A Singapore-based arbitration court has ordered the Bloomberry group to pay $296 million to Las Vegas-based Global Gaming Philippines LLC (GGAM)/ The amount was for arbitral award in the case filed by GGAM which claimed that it had been unjustly booted out of the management of Solaire Resorts & Casino in 2013. Bloomberry, however, said it believed the final remedies award was “fund...
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A tech company has teamed up with the Bureau of Internal Revenue (BIR) to ease the payment of taxes. In a statement on Monday, Sept. 30, mobile wallet app PayMaya said account holders will soon be able to transmit income tax payments through the app’s Pay Bills feature. The feature will initially benefit individuals that handle their own tax payments, like business owners and self-empl...
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MANILA, Philippines — The completion of new public projects such as airports, seaports, expressways and railways should bode well for property developers and occupiers in the country, as well as spur demand for spaces outside the capital. The success of President Rodrigo Duterte’s plan to improve the country’s infrastructure backbone will strongly influence the direction of re...
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Metro Manila, the Philippines’ economic center in the capital region, is the most congested city in Asia, a study by the Asian Development Bank (ADB) showed. Metro Manila is “the most congested city in the developing Asia,” ADB director for Macroeconomics, Economic Research and Regional Cooperation Adbul Abiad said in a press conference in Mandaluyong City on Wednesday. &nb...
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THE PHILIPPINES edged up just a notch on IMD business school’s annual world digital competitiveness index after last year’s 10-place drop, but it remained third to the last among Asia-Pacific economies covered. The Philippines placed 55th overall out of 63 economies, but stayed 12th out of 14 in Asia and the Pacific, ahead again of Indonesia and Mongolia in the region....
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TO BOOST the country’s renewable energy (RE) sector, the Department of Energy (DOE) is looking into floating solar energy to complement the existing natural sources. Energy Secretary Alfonso Cusi said several pilot programs on floating solar energy were launched to increase efforts of the country to attain its goal of energy security. “It is still in its pilot stages in our count...
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