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Mitsubishi Corp. has won the contract to supply 120 cars – equivalent to 30 train sets – for the Light Rail Transit  Line 1, the Japan International Cooperation Agency announced yesterday.

Megaworld Corp. is building a new central business district in General Trias, Cavite in the likes of the Makati CBD.

The benchmark Philippine Stock Exchange index managed to rise yesterday despite the absence  of market-moving news, analysts said.

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Lack of money is the root of all evil, according to the famous author Mark Twain.

It was a surprise to read a statement issued by the state-run Social Security System early this month about plans to provide unemployment insurance benefits to its over 33 million active members as part of the proposed reforms in its Charter.

There is a gecko on his face, a tarsier on his neck and a snail on his shoulder. He believes in the gods and he believes in magic – black, white and what-have-you. He is a shaman, fighter and rebel. He is all these and more.

Latest Business News

The country’s balance of payments position weakened in October, recording a deficit of $368 million from a modest surplus of $24 million in September, the Bangko Sentral ng Pilipinas reported yesterday.

The Bureau of the Treasury raised P130 billion yesterday from the sale of five-year retail treasury bonds at a coupon rate of 4.625 percent amid healthy demand from investors.

The Securities and Exchange Commission is tightening the noose on crowdfunding activities as it continues to crack down on unscrupulous individuals who take advantage of other people’s hard earned money.

The Bases Conversion and Development Authority and the Department of Transportation are set to review the unsolicited proposal of the consortium composed of Filinvest Development Corp., JG Summit Holdings Inc. and Changi Airports International for the long-term development of the Clark International Airport.

State-run Social Security System said yesterday it disbursed more benefits to its members in the first nine months, mainly driven by the P1,000 hike in the monthly pension of member-retirees.

A Filipino has been appointed as the first Asian global managing director of the Boston-based consultancy Bain and Company.

The government plans to spend P771.1 billion in the last quarter of this year, according to data from the Department of Budget and Management (DBM).

The stock market is expected to consolidate further this week following the release of the third quarter economic performance, analysts said.

The Bangko Sentral ng Pilipinas (BSP) expects banks to comply with the liquidity requirements over a longer period of one year as part of efforts to further strengthen the liquidity and capital positions of banks.

Korean businessmen in the Philippines are urging their counterparts in South Korea to invest in the country as they are being left behind by those from Japan and China.

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