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G7 ministers reach consensus on taxing digital giants: France

Agence France-Presse
Jul 18 09:01 PM

G7 finance ministers meeting in France on Thursday agreed to a plan for taxing digital companies such as Facebook and Google that will set a minimum level of taxation for them. Read more »

Oil rises after Iran says it seized foreign tanker in Gulf

Bozorgmehr Sharafedin, Reuters
Jul 18 08:42 PM

Oil prices rose about 1 percent on Thursday after Iran said it had seized a foreign oil tanker in the Gulf amid rising tensions between Tehran and the West over the safety of shipping in the Strait of Hormuz, a vital gateway for energy exports. Read more »

MMDA, NLEX set rerouting scheme for construction of NLEX Harbor Link section

ABS-CBN News
Jul 18 08:09 PM

The rerouting will allow the construction of an elevated road crossing over Navotas River along C3, which is part of the NLEX Harbor Link Segment 10 C3-R10 section, the MMDA said in a statement. Read more »

PSEi snaps 2-day losing streak

ABS-CBN News
Jul 18 06:27 PM

Philippine shares bounce back after two straight days of losses, outperforming the rest of Asia. One analyst believes the bull market rally is sustainable. Read more »

LTFRB told to allow hatchbacks to operate as TNVS

ABS-CBN News
Jul 18 05:57 PM | Updated Jul 18 06:22 PM

Transport authorities would implement a memorandum circular allowing the use of hatchback vehicles for ride-hailing purposes, the Land Transportation Franchising and Regulatory Board said Thursday.  Read more »

Philippines revises 2019-2022 forex assumptions, keeps growth targets

Karen Lema, Reuters
Jul 18 05:51 PM | Updated Jul 18 06:02 PM

The Philippines on Thursday revised its foreign exchange assumptions for its medium-term macroeconomic targets as it expects the peso to appreciate against the dollar on positive investor sentiment. Read more »

Philippines urged to include climate change in development plans

ABS-CBN News
Jul 18 04:11 PM

The Philippine government must incorporate climate change into its long-term development plans. that's according to economist Dr. Toby Monsod who says, climate change also poses serious threats to a country's economic growth.  Read more »

Boeing to make $50M in payments to 737 MAX crash victims' families

David Shepardson, Reuters
Jul 18 04:03 PM

Boeing Co said on Wednesday it would dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with veteran US compensation expert Ken Feinberg hired by the world's largest plane maker to oversee the distribution. Read more »

ABS-CBN franchise renewal up to Congress, not Duterte: Palace

Arianne Merez, ABS-CBN News
Jul 18 03:59 PM

The franchise renewal of the Philippines' largest broadcast company will depend on Congress' decision and not President Rodrigo Duterte's, Malacañang said Thursday. Read more »

BIR, Sarimanok News Network compromise deal gets court approval

Adrian Ayalin, ABS-CBN News
Jul 18 03:00 PM

The CTA Special 1st Division approved the agreement as it granted the joint motion for approval of compromise agreement of the two parties, it said in a judgment promulgated on July 8. Read more »

Developing Asia set to meet growth outlook despite trade war: ADB

Reuters
Jul 18 11:14 AM

Developing Asia, a group of 45 countries in the Asia-Pacific region, is still expected to grow 5.7 percent this year and 5.6 percent next year, the ADB said in a supplement to its Asian Development Outlook report issued in April.   Read more »

Peso poised to strengthen further as dollar weakens: analyst

ABS-CBN News
Jul 18 10:31 AM | Updated Jul 18 03:35 PM

The local unit may reach P50 to a dollar, as the market expects another 25-basis point rate cut by the Fed by the end of July, BDO Unibank chief strategist Jonas Ravelas told ANC. Read more »

New Senate probe on offshore gaming firms sought

ABS-CBN News
Jul 18 10:26 AM | Updated Jul 18 10:47 AM

Some Filipino workers and call centers have been forced to leave their rented homes and offices after lease rates rose -- and in some cases doubled -- due to heavy demand from POGOs, a hearing by the Senate labor committee headed by Villanueva earlier this year found, he said. Read more »

WeWork expands in Philippines with second hub

ABS-CBN News
Jul 18 10:12 AM

The firm that develops shared or coworking spaces officially opened its new space located inside the RCBC Plaza in Ayala Avenue, WeWork said in a statement. Its first branch is located in Taguig. Read more »

G7 finance chiefs pour cold water on Facebook's digital coin plans

Leigh Thomas and Michael Nienaber
Jul 18 08:35 AM

The massive social media company's plan to launch a digital coin has met with a chorus from regulators, central bankers and governments saying it must respect anti-money-laundering rules and ensure the security of transactions and user data. Read more »

Google Glass lives on as learning aid for autistic children

Cade Metz, The New York Times
Jul 18 08:11 AM

The clinical trial, conducted over two years with 71 children, is one of the first of its kind. It spanned everything from severe forms of autism, including children with speech impairments and tactile sensitivities, to much milder forms. Read more »

US hopes China to undo backtracking on trade: official

Agence France-Presse
Jul 18 07:49 AM

US officials hope China will reverse its decision to backtrack on commitments it made in the effort to settle the ongoing trade conflict, Commerce Secretary Wilbur Ross said Wednesday.  Read more »

Netflix shares slide on disappointing Q2 subscriber growth

Glenn Chapman, Agence France-Presse
Jul 18 07:16 AM

Netflix shares plunged in after-hours trade Wednesday after its quarterly update showed weaker-than-expected subscriber growth for the streaming television sector leader. Read more »

US Fed sees 'modest' growth despite 'widespread' trade fears

Douglas Gillison, Agence France-Presse
Jul 18 07:15 AM

Fears that President Donald Trump's trade wars will harm the economy are pervasive, but for now, America keeps chugging along with steady job creation and tame inflation, the Federal Reserve reported Wednesday.  Read more »

Outage strikes Facebook services worldwide

ABS-CBN News
Jul 18 06:50 AM | Updated Jul 18 07:11 AM

MANILA—Facebook users in several parts of the world reported the social media site was inaccessible early Thursday (Manila time). Read more »

Will Instagram soon hide likes, video views?

Jervis Manahan, ABS-CBN News
Jul 18 06:14 AM | Updated Jul 18 10:45 AM

Photo-sharing app Instagram announced early Thursday (Manila time) they are conducting a major test, which will hide the number of likes and video views from its users. Read more »

France, Germany worried over new Facebook currency

Agence France-Presse
Jul 18 02:15 AM

CHANTILLY, FRANCE - The finance ministers of France and Germany on Wednesday expressed serious reservations about Facebook's planned Libra cryptocurrency because of its possible impact on global financial stability. Read more »

PH shares pull back for 2nd straight day

ABS-CBN News
Jul 17 11:48 PM | Updated Jul 18 12:26 AM

Back here at home, Philippine shares fell for a second straight session in step with most Asian markets. Read more »

PH's ease of doing business act IRR signed

ABS-CBN News
Jul 17 11:46 PM

After over a year, the Philippines' enhanced anti-red tape law takes a big step towards full implementation as key officials signed the measure's implementing rules and regulations. Read more »

DOTr: MRT-7 almost halfway finished

ABS-CBN News
Jul 17 11:43 PM

The Philippine transport department boasts the construction of elevated railways in the country.  Read more »