Business

Murdoch calls Australia 'racist' over crackdown on visas

SYDNEY - Global media baron Rupert Murdoch on Tuesday accused the government of his native Australia of "disgraceful and racist" language over a crackdown on visas for skilled migrants.

Should PH fear capital flows after getting investment grade?

Even before the Philippines got its first-ever investment grade rating last week, analysts had been warning about unusually heavy inflows of foreign capital into local financial markets that later could, despite their obvious benefits to the economy, lead to higher prices that Filipino consumers will be paying for goods and services.

Gov't may limit ports allowed to accept oil shipments

MANILA, Philippines (UPDATE) -- The Bureau of Customs, admitting that oil smuggling persists, said it is studying a proposal to limit the number of ports through which petroleum imports will be allowed to enter the country.

March inflation seen steady at 3.4 pct - poll

MANILA -- The Philippines' annual inflation rate likely held steady in March, a Reuters poll has found, as lower fuel costs and stable food prices helped offset higher costs of electricity reinforcing expectations interest rates will remain on hold for now. 


Western Union wins award for prepaid cards in PH, India

MANILA -- The Western Union Co. has won the Product Excellence in Prepaid Award for its prepaid card launches in Philippines and in India during the Banking and Payments Asia Trailblazer Awards held last month.

Melco Crown PH sets roadshow for $400-M share offer

MANILA - Melco Crown (Philippines) Resorts Corp. is likely to start a roadshow on Wednesday for its $400 million follow-on stock offering, Thomson Reuters IFR reported.

BSP eyes new forex rules as early as April

MANILA - The Philippine central bank plans to release more rules as early as this month aimed at liberalizing access to foreign exchange from banks and allow for more outflows to dampen the peso's rapid appreciation.

Calata inks distribution deal with Argentina firm

MANILA, Philippines - Listed agribusiness company Calata Corp. on Tuesday said it signed a deal with an Argentina-based firm to exclusively distribute the latter's farm products in the Philippines. 


'PH stock market's bull run to last at least 3 more years'

MANILA -- The Philippine Stock Exchange's current bull run is expected to last for at least three more years, longer than previous cycles the country has seen, following the credit rating upgrade.

Only in Japan: Public library with Starbucks cafe

SAGA, Japan - A municipal library run by the operator of the Tsutaya movie rental and bookshop chain opened Monday in Takeo, Saga Prefecture, featuring a Starbucks cafe, in what is believed to be the first public-private partnership of its kind.