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(Eagle News)– The Department of Finance (DOF) is now planning to impose taxes on “fatty foods” similar to the rate of cigarettes and alcoholic beverages. “We also plan to impose taxes on sugary and fatty foods, akin to sin taxes,” Finance Secretary Carlos Dominguez III told Senators in his presentation on Tuesday. Junk foods and softdrinks are expected to be part of this new category. This reform belongs to the set proposed by the DOF, […]
SINGAPORE, Singapore (AFP) — Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month. Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago. The comments suggest Tehran might not join possible efforts by OPEC and […]
WASHINGTON, United States (AFP) -by Douglas Gillison The embattled manufacturer of EpiPens said Thursday it would help extreme allergy sufferers meet the costs of the life-saving devices after a five-fold price hike sparked outrage. Mylan NV, which holds a near-monopoly on the manufacture of the epinephrine injectors, said it would expand existing programs to defray out-of-pocket costs but did not say it would lower prices. After a series of price hikes, a pack of two […]
HONG KONG, China (AFP) — Most Asian markets slipped Wednesday as traders trod water ahead of a key speech by Federal Reserve boss Janet Yellen this week, while oil suffered fresh losses on persistent glut worries. With speculation growing that US interest rates could rise by the end of the year, Yellen’s comments at a global central bankers meeting in Jackson Hole Friday will be scoured for forward guidance on US central bank policy. There […]
LOS ANGELES, United States (AFP) — Oscar-winning Jennifer Lawrence was named the world’s highest-paid actress for the second year running on Tuesday, with estimated pre-tax earnings of $46 million. The 26-year-old American raked in the lion’s share from a profit share in the final “Hunger Games” movie, which grossed $650 million, Forbes magazine said. An upfront fee for the forthcoming space thriller “Passengers” also helped the 26-year-old push her pay day above second-ranked Melissa McCarthy, who […]
WASHINGTON, United States (AFP) — World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday as it announced the start of a selection process for the presidency. Kim’s bid to remain as president comes in the face a rare public rebuke from the Bank’s rank-and-file, who earlier this month declared that the institution faced a “crisis of leadership.” “The executive directors expressed unanimous support for an open, […]
HONG KONG, China (AFP) — Energy firms sank in Asian trade on Tuesday as oil prices extended the previous day’s sharp losses due to profit-taking after a recent rally and fresh worries about a global oversupply. Even a fall in the dollar, which usually makes crude cheaper, could not stop the slide in the commodity after Iraq flagged a pick-up in output and rebels in key producer Nigeria announced a ceasefire. Investors were also treading water as […]
MANILA, Philippines (Eagle News) — Oil companies will hike pump prices by more than Php 1.00 per liter effective Tuesday (August 23) morning. Eastern Petroleum Corp., Flying V, Seaoil Philippines Inc. and Chevron Philippines Inc. (CPI) or Caltex announced that prices for both diesel and kerosene will increase by Php 1.45 per liter while gasoline prices will go up by Php 1.35 per liter. Phoenix Petroleum Philippines will also increase pump prices of its gasoline […]
(Eagle News)- President Rodrigo Duterte is getting the applause of business fellowship for policies that would lead to economic surge and many companies say they are making new investments in the country. Less attention has been paid to the potential positives of bloody war against crime and drugs, one is being the catalyst of boost to business. Some even see the campaign as an effective tool, along with the new administration’s focus on building new […]
FRANKFURT, Germany (AFP) – by Tom BARFIELD Embattled auto giant Volkswagen said on Monday it would halt production at six plants in Germany for several days as a legal dispute with two key suppliers deepened. Around 27,700 workers would have their work hours slashed by the end of August in a new headache for the group which is struggling to move past an emissions cheating scandal that is costing billions. VW had been forced to take […]
JOHANNESBURG, South Africa (AFP) – Steelmaker ArcelorMittal has agreed to pay a $110-million (88-million-euro) fine for illegal price fixing in South Africa, the country’s competition watchdog announced Monday. The Competition Commission launched a probe into steel producers in the country in 2008 following concerns around high steel prices, and found that the company colluded with its competitors in “fixing” prices and allocating customers. The company “admits having been involved in the long steel and scrap metal cartels, […]
By Caesar Vallejos EBC Correspondent “Sustainable development is not just a road map,” James Donovan, ADEC Innovations CEO and Global CEO Alliance (GCEOA) Chairman declared during Green Talk, a corporate sustainability lecture organized by Citi Green Team Philippines on August 17, 2016, at Citi Tower in Makati City. “What most businesses fail to realize is that sustainable development is a radically new way of combining technology, business model and innovation to create new […]
