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Philippine Airlines reports bigger net loss

MANILA (AFP) – Philippine Airlines’ parent firm said Wednesday it suffered a net loss of $205.15 million in the nine months to December, bigger than its loss for the whole of the previous fiscal year. PAL Holdings cited higher charges and maintenance costs and lower...
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Flood aftermath: 18 killed, 214,000 in shelters

MANILA (AFP) – Disaster-weary Philippine residents mopped up Thursday after four days of rains that officials said had killed 18 people and forced more than half a million from flooded homes. Residents swept out their muddy floors as floods receded, having covered half ...
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Energy Dept. confirms PetroEnergy’s Nabas wind power as commercially viable

MANILA  (Mabuhay) — The Department of Energy on Tuesday confirmed PetroGreen Energy Corp.’s 50-megawatt (MW) Nabas wind power project in Aklan as commercially viable. PetroGreen Energy, through wholly-owned subsidiary PetroGreen Resources Corporation, is developing...
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Malacanang cites S&P credit upgrade for strengthening peso

Malacanang cited international credit rating firm Standard & Poor’s (S&P) recent credit upgrade of the Philippines for the strengthening peso. In a press briefing aired over government-run radio station dzRB Radyo ng Bayan, Deputy Presidential Spokesperson Abigail...
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$4-B mega-casino set to open next month in Manila

MANILA, Feb 6, 2013 (AFP) – A $4 billion mega-casino complex is set to open in the Philippines in mid-March when the first of four franchise-holders starts commercial operations, the parent firm said in a disclosure released Wednesday. The $1.2 billion Solaire Manila Resorts is...
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PH Seeks Increased Trade with Virginia

VIRGINIA BEACH—The Philippines is urging officials of the Commonwealth of Virginia to send business delegations to Manila and explore trade and investment opportunities in what is touted to be Asia’s new tiger economy. Ambassador Jose L. Cuisia Jr. made the pitch during his...

Philippines’ PAL expects impact from Japan crisis

MANILA, March 17, 2011 (AFP) – Philippine Airlines’ parent company said Thursday the quake and nuclear crisis in Japan, a key market, could deal a blow to the flag carrier’s revenues. The airline remains on target to increase revenues by 10 percent for the...