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GFNi inks agreement with Russian firm

GLOBAL FERRONICKEL Holdings, Inc. (GFNi) has inked an agreement with Russian firm Vi Holding LLC, whose expertise involves low-cost mineral processing. In a statement, the country’s second-largest nickel producer said the memorandum of cooperation and partnership was signed by its Chairman Joseph C. Sy and Vi Holding Chairman Valery N. Krasnov. President Rodrigo R. Duterte […] The post GFNi inks agreement with Russian firm appeared first on BusinessWorld......»»

Category: newsSource: bworldonline bworldonlineNov 14th, 2017

Cybersecurity firm: US Senate in Russian hackers’ crosshairs

PARIS --- The same Russian government-aligned hackers who penetrated the Democratic Party have spent the past few months laying the groundwork for an espionage campaign against the U.S. Senate, a cybersecurity firm said in a report Friday. The revelation suggests the group often nicknamed Fancy Bear, whose hacking campaign scrambled the 2016 U.S. electoral contest, is still busy trying to gather the emails of America's political elite. "They're still very active --- in making preparations at least --- to influence public opinion again," said Feike Hacquebord, a security researcher at Trend Micro Inc. who authoered the report. "They are looking for information they might leak la...Keep on reading: Cybersecurity firm: US Senate in Russian hackers’ crosshairs.....»»

Category: newsSource:  inquirerRelated NewsJan 13th, 2018

Cybersecurity firm: US Senate in Russian hackers crosshairs

PARIS — The same Russian government-aligned hackers who penetrated the Democratic Party have spent the past few months laying the groundwork for an espionage.....»»

Category: newsSource:  philstarRelated NewsJan 13th, 2018

Russia firm eyes investment in Philippines

MANILA, Philippines — A Russian company is planning to put up the first pipeline coating facility in the Philippines, making the country its production hub f.....»»

Category: financeSource:  philstarRelated NewsDec 23rd, 2017

Russia firm eyes building pipeline plant in Bataan

A Russian company expressed interest to the Board of Investments (BOI) to construct a pipeline coating facility in the Philippines, the Department of Trade and Industry (DTI) said on Friday, in another indiction of the country’s increasing attractiveness to foreign investors. According to Trade Secretary Ramon Lopez, Igor Shaporin, BT SVAP LLC’s chairman of the [...] The post Russia firm eyes building pipeline plant in Bataan appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsDec 22nd, 2017

Bukidnon town inks P150-M loan with Land Bank

MALAYBALAY CITY (MindaNews / December 20) – The Municipal Government of Kitaotao, Bukidnon signed a P150-million loan agreement with the Land Bank of the Philippines (LBP) for structures that will boost local development and tourism, officials said. The 15-year loan agreement with 5 percent interest will be used to finance, among others, a new public […].....»»

Category: newsSource:  mindanewsRelated NewsDec 21st, 2017

PT& T, Chinese firm to explore free Wi-Fi during disasters

MANILA, Philippines – Newly-invigorated Philippine Telegraph & Telephone Corporation (PT&T)  and a Chinese wireless network firm agreed to explore the possibility of offering free wireless broadband services during natural disasters. In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, December 19, PT&T said it signed a memorandum of agreement with Chengdu Zhongxing ........»»

Category: newsSource:  rapplerRelated NewsDec 19th, 2017

Russian cyberfirm Kaspersky appeals ban in US court

SAN FRANCISCO, USA – Embattled cyber security firm Kaspersky Lab said on Monday, December 18, that it is asking a federal court to overturn a ban on its products being used by US agencies. Allegations that Moscow-based Kaspersky, which sold more than $600 million of anti-virus software globally in 2015, knowingly or unknowingly ........»»

Category: newsSource:  rapplerRelated NewsDec 19th, 2017

DOT inks marketing deal with Singapore air carrier

MANILA, Philippines — The Department of Tourism (DOT) is eyeing to boost marketing initiatives to the Indian market as it inks an agreement with a Singaporea.....»»

Category: financeSource:  philstarRelated NewsDec 16th, 2017

Cebu Landmasters inks deal to build Davao CBD

PROPERTY developer Cebu Landmasters, Inc. (CLI) has inked a joint venture agreement with four Davao-based firms for the construction of a 17.1-hectare central business district in Matina, Davao City next year. The property—called Matina Business Park—will sit on a former golf course established in 1960. It will be constructed by CLI, Plaza de Luisa Development, [...] The post Cebu Landmasters inks deal to build Davao CBD appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsDec 13th, 2017

P41 HIKE IN WATER RATES: MIWD to award P12.34-B distribution deal to MetroPac

METRO Iloilo Water District (MIWD) is set to award this week the P12.349-billion distribution joint venture to MetroPac Water Investments Corp (MWIC), said Arnold Laurente, MIWD Joint Venture Selection Committee chairperson. Laurente said the 25-year public-private partnership (PPP) or joint venture agreement (JVA) will proceed as no firm challenged the MWIC bid after the Nov. […] The post P41 HIKE IN WATER RATES: MIWD to award P12.34-B distribution deal to MetroPac appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsDec 12th, 2017

China gravely concerned after Philippines inks investment deal with Taiwan

MANILA, Philippines — China on Friday expressed “grave concern” over the recent signing of an investment protection agreement between the Philippines and Tai.....»»

Category: newsSource:  philstarRelated NewsDec 9th, 2017

China gravely concerned after Philippines inks investment deal with Taiwan

MANILA, Philippines — China on Friday expressed “grave concern” over the recent signing of an investment protection agreement between the Philippines and Tai Source link link: China 'gravely concerned' after Philippines inks investment deal with Taiwan.....»»

Category: newsSource:  manilainformerRelated NewsDec 9th, 2017

LRWC subsidiary to obtain P2.5B loan from BDO

A UNIT of Leisure and Resorts World Corp. (LRWC) will be taking out a P2.5-billion loan from BDO Unibank, Inc. to partially finance its planned resort development. In a disclosure to the stock exchange on Friday, the listed firm said its wholly-owned subsidiary AB Leisure Global, Inc. has executed an omnibus loan and security agreement […] The post LRWC subsidiary to obtain P2.5B loan from BDO appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 1st, 2017

Here s what you can get for Messi s 700 million euro buyout clause

By Tales Azzoni, Associated Press MADRID (AP) — If a rival soccer team were to pay Lionel Messi's 700 million euro ($834 million) buyout clause, Barcelona could potentially buy nine of the 20 most expensive teams in the world. Or it would have enough to buy every player in Major League Soccer at the same time. It could even pay for 5 million Barcelona jerseys. The likelihood of anyone triggering the clause seems remote, especially considering that it wouldn't guarantee that the goal-scoring great would go anyway. But after Paris Saint-Germain paid Barcelona a record 222 million euros ($264 million) for Neymar, the team is clearly trying to scare off any potential candidates. Barcelona president Josep Bartomeu said the club decided to more than double Messi's original clause of 300 million euros ($358 million) because of what happened with Neymar. Buyout clauses are not used in every country, but they are often put into effect to help protect clubs and give players the right to leave for a fee if they are not satisfied or want better deals. Here's a look at how far 700 million euros go in the world of soccer: ___ TOP CLUBS Nine of the world's most valuable soccer teams are worth less than the new clause on Messi's contract, according to Forbes. In its most recent rankings, only 11 of the top 20 clubs are valued higher than 700 million euros. Among the teams with a lower value are Atletico Madrid, AC Milan and Borussia Dortmund. ___ MANCHESTER UNITED'S REVENUES The amount spent to trigger Messi's buyout clause would be almost the equivalent of what Manchester United generates in revenues in a year. The English club topped a recent ranking of soccer's biggest moneymakers released by accountancy firm Deloitte. It generated 515.3 million pounds (689 million euros) for the 2015-16 season. ___ ALL MLS PLAYERS The players in the 22 teams in Major League Soccer have a market value of 407 million euros ($485 million), according to specialized German site Transfermarkt.com, which analyzes transfers worldwide. ___ FIVE MLS EXPANSION TEAMS The current expansion fee being charged by MLS is $150 million (125 million euros), meaning that owners could start five expansion teams with the money they spend to acquire Messi. ___ BARCELONA'S SQUAD All other players in Barcelona's squad this season have a combined market value of 586 million euros ($698 million), according to Transfermarkt. Teams hypothetically could forget about Messi and just try to sign the rest of Barcelona's players for significantly less than they would have to spend on the Argentina forward. ___ HALF OF SPAIN'S PLAYERS The market value for players in half of the Spanish league's teams is worth 622 million euros ($741 million), Transfermarkt said, and that includes those in some traditional clubs such as Real Betis and Deportivo La Coruna. Messi's clause is 17 times bigger than the current market value for the entire squad of southern Madrid club Getafe. ___ STADIUMS Instead of signing Messi, teams could build state-of-the-art venues such as Arsenal's Emirates Stadium in London, which cost nearly 600 million euros ($715 million) and is one of the most expensive stadiums owned by a club in Europe. Barcelona rival Real Madrid is expected to spend 400 million euros ($476 million) to add a retractable roof and renovate its Santiago Bernabeu Stadium. ___ SPONSORSHIP DEALS With the 700 million euros, Barcelona could afford to forfeit its current jersey sponsorship deal for more than 12 years. The club is receiving about 55 million euros ($65 million) a year from Japanese company Rakuten in an agreement valid until 2021. Manchester United is getting about 60 million euros ($71 million) a year for its record jersey sponsorship deal with Chevrolet. ___ JUST THE SHIRT The 700 million euros would be just enough for 5 million Barcelona jerseys at a cost of 140 euros ($167) each. The official replica costs 85 euros ($101), which would allow for a total of more than 8.2 million jerseys......»»

Category: sportsSource:  abscbnRelated NewsNov 29th, 2017

Chinese firm, MRC sign LNG agreement

Chinese firm, MRC sign LNG agreement.....»»

Category: financeSource:  thestandardRelated NewsNov 24th, 2017

IFC to invest P650M in Discovery World

THE International Finance Corp. (IFC), the private sector investment arm of the World Bank, is investing in Discovery World Corp. (DWC), a property firm developing two new hotels in Palawan and Benguet. In a disclosure to the stock exchange on Tuesday, Discovery World said it signed a subscription agreement with IFC allowing the latter to […] The post IFC to invest P650M in Discovery World appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsNov 21st, 2017

UN climate talks wrap up as US stands firm on fossil fuels

UN negotiations on implementing the Paris climate change agreement wrap up Friday after two weeks of talks that were slowed down by the United States defending the use of fossil fuels. #BeFullyInformed UN climate talks wrap up as US stands firm on fossil fuels Source link: UN climate talks wrap up as US stands firm on fossil fuels.....»»

Category: newsSource:  manilainformerRelated NewsNov 17th, 2017

Japan inks ¥15-B flood control loan for PH

The Japanese government has loaned the Philippines over ¥15 billion for the Cavite Industrial Area Flood Risk Management Project. In a statement on Thursday, the Department of Finance (DoF) said it signed a ¥15.93-billion loan agreement with the Japan International Coordination Agency (JICA) for the project, which aims to control and mitigate flooding in several [...] The post Japan inks ¥15-B flood control loan for PH appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsNov 15th, 2017

Russian firm, FNI to construct nickel plant

Russian firm, FNI to construct nickel plant.....»»

Category: financeSource:  thestandardRelated NewsNov 14th, 2017

Tax haven secrets of ultra-rich exposed – BBC News

A huge new leak of financial documents has revealed how the powerful and ultra-wealthy, including the Queen’s private estate, secretly invest vast amounts of cash in offshore tax havens. Donald Trump’s commerce secretary is shown to have a stake in a firm dealing with Russians sanctioned by the US. The leak, dubbed the Paradise Papers, contains 13.4m documents, mostly from one leading firm in offshore finance. BBC Panorama is part of nearly 100 media groups investigating the papers. As with last year’s Panama Papers leak, the documents were obtained by the German newspaper Süddeutsche Zeitung, which called in the International Consortium of Investigative Journalists (ICIJ) to oversee the investigation. The Guardian is also among the organisations investigating the documents. Sunday’s revelations form only a small part of a week of disclosures that will expose the tax and financial affairs of some of the hundreds of people and companies named in the data, some with strong UK connections. Many of the stories focus on how politicians, multinationals, celebrities and high-net-worth individuals use complex structures of trusts, foundations and shell companies to protect their cash from tax officials or hide their dealings behind a veil of secrecy. The Paradise Papers show that about £10m ($13m) of the Queen’s private money was invested offshore. It was put into funds in the Cayman Islands and Bermuda by the Duchy of Lancaster, which provides the Queen with an income and handles investments for her £500m private estate. There is nothing illegal in the investments and no suggestion that the Queen is avoiding tax, but questions may be asked about whether the monarch should be investing offshore. There were small investments in the rent-to-buy retailer BrightHouse, which has been accused of exploiting the poor, and the Threshers chain of off-licences, which later went bust owing £17.5m in tax and costing almost 6,000 people their jobs. The Duchy said it was not involved in decisions made by funds and there is no suggestion the Queen had any knowledge of the specific investments made on her behalf. The Duchy has in the past said it gives “ongoing consideration regarding any of its acts or omissions that could adversely impact the reputation” of the Queen, who it says takes “a keen interest” in the estate. Wilbur Ross helped stave off bankruptcy for Donald Trump in the 1990s and was later appointed commerce secretary in Mr Trump’s administration. The documents reveal Mr Ross has retained an interest in a shipping company which earns millions of dollars a year transporting oil and gas for a Russian energy firm whose shareholders include Vladimir Putin’s son-in-law and two men subject to US sanctions. It will again raise questions about the Russian connections of Donald Trump’s team. His presidency has been dogged by allegations that Russians colluded to try to influence the outcome of last year’s US election. He has called the allegations “fake news”. Democratic Senator Richard Blumenthal has called for an investigation, telling NBC News that Mr Ross had given Congress the impression he no longer held shares in the shipping company. “Our committee was misled, the American people were misled by the concealment of those companies.” Most of the data comes from a company called Appleby, a Bermuda-based legal services provider at the top end of the offshore industry, helping clients set up in overseas jurisdictions with low or zero tax rates. Its documents, and others mainly from corporate registries in Caribbean jurisdictions, were obtained by Süddeutsche Zeitung. It has not revealed the source. The media partners say the investigation is in the public interest because data leaks from the world of offshore have repeatedly exposed wrongdoing. In response to the leaks, Appleby said it was “satisfied that there is no evidence of any wrongdoing, either on the part of ourselves or our clients”, adding: “We do not tolerate illegal behaviour.” Essentially it’s about a place outside of your own nation’s regulations to which companies or individuals can reroute money, assets or profits to take advantage of lower taxes. These jurisdictions are known as tax havens to the layman, or the more stately offshore financial centres (OFCs) to the industry. They are generally stable, secretive and reliable, often small islands but not exclusively so, and can vary on how rigorously they carry out checks on wrongdoing. The UK is a big player here, not simply because so many of its overseas territories and Crown dependencies are OFCs, but many of the lawyers, accountants and bankers working in the offshore industry are in the City of London. It’s also about the mega-rich. Brooke Harrington, author of Capital Without Borders: Wealth Managers and the One Percent, says offshore finance is not for the 1% but the .001%. Assets of around $500,000 (£380,000) would just not meet the offshore fees the schemes would need, she says. Well, it is a lot of cash. The Boston Consulting Group says $10tn is held offshore. That’s about the equivalent of the gross domestic products of the UK, Japan and France – combined. It may also be a conservative estimate. Critics of offshore say it is mainly about secrecy – which opens the door to wrongdoing – and inequality. They also say the action of governments to curb it has often been slow and ineffective. Brooke Harrington says if the rich are avoiding tax, the poor pick up the bill: “There’s a minimal amount the governments need to function and they recoup what they lose from […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsNov 6th, 2017