Gov’t debt balloons to record P9.05T as of end-June as borrowing increased due to COVID-19

MANILA, July 29 (Mabuhay) — The national government’s outstanding debt swelled to a record P9.054 trillion, breaching P9-trillion mark, as of end-June as the state ramped up borrowing to support COVID-19 response and recovery efforts, data released by the Bureau of the Treasury (BTr) showed Wednesday. The end-June outstanding government debt is 1.8% higher than […]

29.07.2020 · Filled under: Money & Business, News, Philippine News, World News ·

BIR maintains POGOs should pay 5% franchise tax

MANILA, July 28 (Mabuhay) — The Bureau of Internal Revenue (BIR) has maintained that foreign-based Philippine Offshore Gaming Operators (POGOs) should pay the 5% franchise tax before they can resume their operations. In a statement, the taxman said the payment of 5% franchise tax on POGOs is clearly stated in a memorandum circular issued by […]

House panel OKs proposed 12% VAT on some digital service providers

MANILA, July 29 (Mabuhay) — The House ways and means panel has approved a bill seeking to impose a 12% Value Added Tax (VAT) on some foreign and local companies providing goods and services via digital and electronic platforms. Still unnumbered, the substitute bill seeks to amend Section 105-A of the National Internal Revenue with […]

29.07.2020 · Filled under: Money & Business, News, Philippine News ·

Gov’t improves market access for Filipino MSMEs

MANILA, July 25 (Mabuhay)– The government, through the Department of Trade and Industry (DTI), has launched different programs to improve market access to micro, small, and medium enterprises (MSMEs) during the Duterte administration. In its technical report to the Office of the President, DTI said it has established 37 One-Town-One-Product (OTOP) Philippines stores nationwide. OTOP […]

25.07.2020 · Filled under: Money & Business, News, Philippine News ·

ADB loans to Philippines to reach record high $4.2B in 2020

MANILA, July 24 (Mabuhay) — Loans of the Asian Development Bank (ADB) to the Philippines are expected to reach a record-high $4.207 billion this year, with the lion’s share going to efforts against the coronavirus disease 2019. According to ADB Philippines country director Kelly Bird, the ADB’s 2020 lending program is the biggest so far […]

24.07.2020 · Filled under: Asian News, Money & Business, News, Philippine News ·

Dingdong’s delivery service app hires, helps out-of-work showbiz workers

MANILA, July 22 (Mabuhay) — Dingdong Dantes’ food delivery service app has been hiring showbiz workers who lost their jobs amid the community quarantine. The riders were given a five-day training with the help of Yes Pinoy Foundation and other agencies. Carlo Kaunes, a stuntman of “Descendants of the Sun,” said he has been feeling […]

‘Online barter’ for personal transaction not illegal — DTI chief

MANILA, (Mabuhay) — Trade Secretary Ramon Lopez has clarified his recent statement that ‘online barter’ is illegal, saying exchanges of goods for personal transactions, not as business, is allowed. In a text message Wednesday, Lopez said barter trade is only allowed in three areas in the country — Siasi, Jolo; Sulu and Bonggao, Tawi-Tawi. “Outside […]

16.07.2020 · Filled under: Money & Business, News, Philippine News ·

‘Build, Build, Build’ important to revive PH economy

MANILA, (Mabuhay) — The government remains committed to implement its ambitious “Build, Build, Build” infrastructure program to revive the country’s economy that entered recession due to the coronavirus disease 2019 (Covid-19) pandemic, Malacañang said on Thursday. “Kabahagi pa rin po at importante pa rin ang papel ng ‘Build, Build, Build’ para sa ating recovery mula […]

12.07.2020 · Filled under: Money & Business, News, Philippine News ·

PH cannot afford total reopening of economy — Duterte

MANILA, (Mabuhay) — The Philippines cannot follow other countries’ move to completely reopen the economy amid the coronavirus disease 2019 (Covid-19) pandemic, President Rodrigo Duterte said on Tuesday. In a taped public address aired on state-run PTV-4 early Wednesday, Duterte said he can only order the gradual reopening of the Philippine economy. “We have to […]

10.07.2020 · Filled under: Money & Business, News, Philippine News ·

Wirecard scandal used names of PH banks to ‘cover perpetrators tracks’ — BSP Diokno

MANILA, July 6 (Mabuhay) — The Wirecard scandal used the names of the country’s top lenders to cover fraudsters tracks, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday. During a Malacanang video conference, Diokno reiterated that the missing $2.1 billion of the German payment provider did not enter the country’s financial system. “The international […]

06.07.2020 · Filled under: Money & Business, News, World News ·

Foreign business travelers may be allowed entry to Philippines under MGCQ– DOT exec

MANILA, (Mabuhay) — Business travelers from other countries may be allowed to enter the Philippines once quarantine restrictions have been eased to modified general community quarantine (GCQ), an official of the Department of Tourism (DOT) said Sunday. Tourism Undersecretary Bong Bengzon said that it is the Inter-Agency Task Force for the Management of Emerging Infectious […]

03.07.2020 · Filled under: Money & Business, News, Philippine News, World News ·

BSP pegs Q2 economic performance at -5.7% to -6.7%, bringing Philippines to technical recession

MANILA, June 29 (Mabuhay) — The Philippine economy could contract by as much as 6.7% in the second quarter, which would put the Philippines in a technical recession, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Monday. According to Diokno, the economy is likely to register an economic performance ranging between -5.7% and -6.7% […]

03.07.2020 · Filled under: Money & Business, News, Philippine News ·

$3.1B of ‘hot money’ exited PHL in January-May — BSP

MANILA, (Mabuhay) — Foreign portfolio investments (FPI) or “hot money” yielded a net outflow of $3.1 billion million in the first five months of 2020 due to the impact of COVID-19 pandemic and other external pressures, the Bangko Sentral ng Pilipinas (BSP) said Thursday. FPI is also called hot money because of the ease by […]

30.06.2020 · Filled under: Money & Business, News, Philippine News, World News ·

IMF sees Philippine economy shrinking further by 3.6% in 2020

MANILA, June 25 (Mabuhay) — The Philippine economy will contract further this year due to the global economic disruption brought about by the COVID-19 pandemic, International Monetary Fund projections indicate. In its World Economic Outlook update released Wednesday night, the IMF expected the Philippine’s gross domestic product (GDP) to shrink by 3.6% in 2020. This […]

27.06.2020 · Filled under: Money & Business, News, Philippine News ·

Business tycoon Danding Cojuangco Jr passes away at 85

MANILA, June 17 (Mabuhay) — Business tycoon Eduardo “Danding” Cojuangco Jr. has passed away. Cojuangco’s death was announced by San Miguel Corporation, of which he was chairman and chief executive officer, in a statement on Wednesday. “San Miguel Corporation announces the passing of its Chairman and Chief Executive Officer, Mr. Eduardo M. Cojuangco Jr., on […]

19.06.2020 · Filled under: Asian News, Money & Business, News, Philippine News ·

‘A minus’ credit rating affirmation of PH’s economic strength

MANILA, June 16 (Mabuhay) — Malacañang on Monday welcomed Japan Credit Rating Agency Ltd.’s (JCR) decision to upgrade its rating on the Philippines from BBB+ to A- with “stable” outlook amid fears of global economic downturn due to the coronavirus disease 2019 (Covid-19) pandemic. “This recognition by Japan’s leading credit agency is an affirmation of […]

19.06.2020 · Filled under: Asian News, Money & Business, News, Philippine News, World News ·

PHL, Japan sign P75-B loan deals for infra projects in Davao City, Cebu

MANILA, (Mabuhay)– The Philippines and Japan on Tuesday signed two loan agreements worth a combined P75.5 billion or about ¥154 billion yen for two big-ticket infrastructure projects in the Visayas and Mindanao under the Duterte administration’s “Build, Build, Build” program. Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency (JICA) chief representative Eigo Azukizawa […]

18.06.2020 · Filled under: Asian News, Money & Business, News, Philippine News ·

DTI supports legislation to boost e-commerce law in PH

MANILA, June 15 (Mabuhay) — The Department of Trade and Industry (DTI), in commemoration of the 20th year of Republic Act 8792 or the Electronic Commerce Act of 2000, has committed to implement policies to strengthen and grow e-commerce in the country while supporting current legislative measures by Congress. “Twenty years after this pioneering legislation […]

16.06.2020 · Filled under: Asian News, Money & Business, News, Philippine News, World News ·
LBC reinforces commitment to move lives of Filipinos

LBC reinforces commitment to move lives of Filipinos

Manila, Philippines – LBC Express, the leading courier service provider in the Philippines, reinforces its commitment to serve Filipinos by connecting them with their loved ones worldwide. With branches and partners in Australia, Bahrain, Brunei, Canada, Germany, Guam, Hong Kong, Italy, Kuwait, Malaysia, the Philippines, Qatar, Saipan, Saudi Arabia, Singapore, South Korea, Spain, Taiwan, the […]

18.03.2015 · Filled under: Home & Garden, Money & Business, Services ·
Phone firms and the quest for the 5G Holy Grail

Phone firms and the quest for the 5G Holy Grail

(Barcelona-AFP) – Lightning-quick downloads, driverless cars and remote surgery: telecom firms are racing to develop a new generation of “5G” mobile networks that could start to change the world in five years. Executives and regulators from Asia, Europe and the United States jousted to define their quest for the 5G Holy Grail on Tuesday at […]

03.03.2015 · Filled under: Home & Garden, Money & Business, Science & Technology ·
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