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Philippines: Dennis Uy inks deal for FamilyMart PH

Davao-based businessman Dennis Uy is venturing into the convenience store business, on Monday inking a deal to purchase the local operations of Japan’s FamilyMart via listed firm Phoenix Petroleum Philippines, Inc. In a disclosure, Phoenix said it had inked a memorandum of understanding with SIAL CVS Retailers, Inc. and Japanese firms FamilyMart Co., Ltd. and […]

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Thailand: FPO hikes GDP outlook to 3.8%

The Fiscal Policy Office (FPO) has jumped on the bandwagon by raising its 2017 GDP growth forecast to 3.8% on the back of strong export growth. The Finance Ministry’s think tank updated its growth forecast to a band of 3.6-4% with an average of 3.8%, up from 3.6% previously, said FPO director-general Suwit Rojanavanich. The […]

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Vietnam: Ten-month FDI grows 37% to $28 billion

HANOI — Some US$28.24 billion in foreign direct investment (FDI) was poured into Vietnam between January and October, representing a year-on-year increase of 37.4 per cent. This was stated by the Foreign Investment Agency under the Ministry of Planning and Investment. Of the figure, $16.3 billion was put into 2,070 new projects (up 32.9 per cent), $7.27 […]

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Philippines rice import dependence down to 5%

MANILA, Philippines — The Philippines is gradually decreasing its dependency on imported rice after the country’s import dependency ratio went down to five percent last year from 11 percent in 2015. Based on a report from the Philippine Statistics Authority (PSA), the rice import dependency ratio decreased to 4.99 percent in 2016 from 11.07 percent […]

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Indonesia: Tax Revenue Increases in October

TEMPO.CO, Jakarta – The Directorate General of Tax of the Finance Ministry reports that tax revenue has increased by 25 percent in October compared to the previous month. September saw Rp84.7 trillion in tax revenue, whereas this month it has hit Rp105.87 trillion. “Meaning that the growth is quite significant. Value added tax [PPN] grew 20 percent […]

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