Pinoy Business News

Pinoy Business News

  • KUWTT: New party vows support for Go| Oct. 27, 2021
    by The Manila Times on October 26, 2021 at 10:03 pm

    Good Day!Here are the top stories of The Manila Times for Wednesday, October 27, 2021.READ: New party vows support for GoA newly formed political party established on Tuesday an alliance with the ruling Partido Demokratiko Pilipino-Lakas ng Bayan to support the vice presidential bid of Sen. Christopher Lawrence "Bong" Go in the 2022 elections.READ: Crowding at dolomite beach fuels controversyManila Mayor Francisco "Isko Moreno" Domagoso asked on Tuesday the national pandemic task force to press […]

  • PH, South Korea conclude free trade pact talks
    by besguerra on October 26, 2021 at 8:08 pm

    MANILA, Philippines — The Philippines and South Korea have finally concluded their negotiations for a free trade agreement (FTA), which is expected to be signed early next year. Top trade officials of South Korea and the Philippines announced the conclusion of their FTA negotiations in a joint statement on Tuesday. They will negotiate further on The post PH, South Korea conclude free trade pact talks appeared first on Inquirer Business.

  • PSEi closes up by 0.56%
    by besguerra on October 26, 2021 at 8:07 pm

    The Philippine Stock Exchange Index (PSEi) rebounded on Tuesday as the benchmark measure moved in lockstep with regional indices after US stocks rallied and the Dow Jones Industrial Average hit a record high. The PSEi ended the session higher by 0.56 percent, or 40.56 points, to 7,252.10 while the broader all-shares index gained 0.44 percent, The post PSEi closes up by 0.56% appeared first on Inquirer Business.

  • Sept dollar flows swing back to deficit
    by besguerra on October 26, 2021 at 8:06 pm

    More dollars flowed out of the Philippines than entered it last month as the national government’s repayment of maturing foreign debt outweighed the economy’s earnings from overseas, according to the central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s overall balance of payments position posted a deficit of $412 million The post Sept dollar flows swing back to deficit appeared first on Inquirer Business.

  • DOF orders BIR to track, tax online sales
    by besguerra on October 26, 2021 at 8:06 pm

    The Bureau of Internal Revenue (BIR) is putting up a dedicated unit that will track digital sales transactions and capture the correct taxes due from these goods and services. In a statement on Tuesday, the Department of Finance (DOF) said that Secretary Carlos Dominguez III recently ordered the BIR to not only establish a dedicated The post DOF orders BIR to track, tax online sales appeared first on Inquirer Business.

  • Small investors can buy up to P1M worth of Synergy shares
    by besguerra on October 26, 2021 at 8:04 pm

    Local small investors (LSI) are allowed to subscribe to as much as P1 million worth of shares of power grid holding firm Synergy Grid & Development Phils. Inc., which launched yesterday its re-initial public offering (re-IPO) of up to P13.85 billion. In an advisory, the Philippine Stock Exchange said the Securities and Exchange Commission (SEC) The post Small investors can buy up to P1M worth of Synergy shares appeared first on Inquirer Business.

  • Fiscal consolidation in PH going nowhere, says economist
    by besguerra on October 26, 2021 at 8:03 pm

    The Philippines is seen lagging behind in the region en route to fiscal consolidation or narrowing the pandemic-induced wider budget deficit and ballooning public debt due to its slow economic rebound, such that economists warned of a looming credit ratings downgrade. In a report on Tuesday, Pantheon Macroeconomics senior Asia economist Miguel Chanco said “fiscal The post Fiscal consolidation in PH going nowhere, says economist appeared first on Inquirer Business.

  • How to beat the market with Sloan Ratios
    by besguerra on October 26, 2021 at 8:02 pm

    Earnings are important drivers of share prices. Investors use earnings as basis to project how stocks are likely to be valued in the future. The problem is, not all earnings are created equal. Companies use accrual accounting to record any revenue or expense incurred, either as accounts receivables or payables, even if cash has not The post How to beat the market with Sloan Ratios appeared first on Inquirer Business.

  • BIZ BUZZ: Hospital arrest, the sequel
    by besguerra on October 26, 2021 at 8:01 pm

    No sooner did we publish Mrs. Hospital Detainee’s troubles on Monday when fresh details were shared with Biz Buzz about the controversy, including insights from her husband’s friends explaining how things have come to a pretty pass. But before we delve into that, the hyperactive group chats of the well-heeled were brought to a shocked The post BIZ BUZZ: Hospital arrest, the sequel appeared first on Inquirer Business.

  • DOE to Gatchalian: Saying Chevron-Udenna deal was rigged is ‘misguided’
    by ABS-CBN News on October 26, 2021 at 7:54 pm

    Sen. Sherwin Gatchalian described the transaction as rigged, but the energy department said the lawmaker was 'obviously confused.'

  • PH logs in 4,393 new Covid cases
    by Red Mendoza on October 26, 2021 at 7:11 pm

    THE Philippines reported 4,393 new cases of the coronavirus disease 2019 (Covid-19) on Tuesday, the Department of Health (DoH) said, raising the number of infections to 2.77 million.Positivity rate is also down at 8.5 percent with 35,265 tests taken although the drop was attributed to the few laboratories that did not send their data to the DoH.Of the total number of infections, 19 percent or 53,642 are active cases.Recoveries are at 2.67 million while the death toll stands at 42,007.Occupancy […]

  • Senate panel OKs proposal to grant philanthropist Lizzie Zpbe de Ayala Filipino citizenship
    by  Bernadette E. Tamayo on October 26, 2021 at 5:33 pm

    THE Senate Committee on Justice on Tuesday approved the proposal to grant Filipino citizenship to philanthropist Elizabeth "Lizzie" Eder Zobel De Ayala.The panel, led by Sen. Richard "Dick" Gordon tackled Senate Bill 2221, authored by Senate Minority Leader Franklin Drilon, and House Bill 9376 on Zobel de Ayala's citizenship.Lizzie married Filipino businessman Jaime Augusto Zobel de Ayala in June 1987 in her hometown of Cali, Colombia. Since August 1987, she has made the Philippines her […]

  • Lacson offers solutions to post-pandemic woes
    by  Bernadette E. Tamayo on October 26, 2021 at 5:16 pm

    THE Lacson-Sotto tandem has readied a two-pronged solution, vaccination and opening up of the economy, to address post-pandemic problems.Sen. Panfilo "Ping" Lacson and Senate President Vicente "Tito" Sotto 3rd are running for president and vice president, respectively, in the 2022 national elections.The two said they will focus on health and the economy in dealing with the pandemic's lingering effects should they win in next year's polls.Lacson is Partido Reporma's standard-bearer while Sotto […]

  • Marcos vows to transform PH into logistics powerhouse
    by  Bernadette E. Tamayo on October 26, 2021 at 5:09 pm

    FORMER senator Ferdinand "Bongbong" Marcos Jr. wants the Philippines to become the next logistics powerhouse in Asia to expedite the country's economic recovery post-pandemic.Marcos on Tuesday said that should he win in next year's presidential race, he intends to modernize existing seaports, airports, and railways and increase their accessibility.He said that investment in these areas will raise the country's import and export capacity and provide opportunities for local industries to […]

  • Police to provide support for face-to-face classes
    by Dempsey Reyes on October 26, 2021 at 5:08 pm

    THE leadership of the Philippine National Police (PNP) on Tuesday assured it would provide assistance to the pilot run of face-to-face classes in select schools.The Department of Education(DepEd) announced recently that there would be a pilot implementation of face-to-face classes on November 15 with 90 public schools participating.PNP chief Gen. Guillermo Lorenzo Eleazar said the police organization was now preparing for the face-to-face classes."I have already directed the unit commanders […]

  • SC extends anew validity of all notarial commissions
    by Jomar Canlas on October 26, 2021 at 4:58 pm

    THE Supreme Court extended anew the validity of "all notarial commissions from 2019" for another six months from its last extension on June 22, 2021 due to the ongoing difficulties caused by the health pandemic."Accordingly, all notarial commissions granted in 2019 and whose validity had been previously extended until Dec. 31, 2021 pursuant to the Court's Dec. 1, 2020 and June 22, 2021 Resolutions are deemed further extended and shall thus remain valid for an additional period of six months […]

  • Las Piñas-Parañaque reclamation project OK'd
    by Jomar Canlas on October 26, 2021 at 4:47 pm

    THE Supreme Court has upheld the Court of Appeal decision that junked the petition for writ of kalikasan filed by Sen. Cynthia Villar who seeks to stop the planned reclamation project covering 635.14 hectares of water in Manila Bay along the Bacoor-Las Piñas-Parañaque coastline.In a 33-page decision penned by Associate Justice Rosmari Carandang, the full court denied Villar's petition as it affirmed the decision dated April 26, 2013 and the resolution dated Aug. 14, 2013 of the CA, which […]

  • 7 fall in drug raids in southern Metro Manila
    by Christian Crow Maghanoy on October 26, 2021 at 4:44 pm

    POLICE busted seven drug peddlers and confiscated a total of P120,360 worth of shabu on Monday, in an operation led by the Southern Police District (SPD).BGen. Jimili Macaraeg, SPD chief, launched a crackdown against the proliferation of illegal drugs over the Southern part of Metro Manila, particularly in the cities of Makati, Las Piñas and Taguig, and the municipality of Pateros.In Makati, the Special Drug Enforcement Unit and the Investigation Section launched an operation along Acacia […]

  • PET CEMETERY
    by The Manila Times on October 26, 2021 at 4:41 pm
  • UN to help Philippines recover from Covid-19
    by  Bernadette E. Tamayo,Red Mendoza on October 26, 2021 at 4:41 pm

    THE United Nations will help finance Philippine recovery programs to help the country rebuild the economy gravely affected by the Covid-19 pandemic.UN Resident Coordinator in the Philippines Gustavo Gonzalez made the remark on Monday evening during a virtual commemoration of the 2021 United Nations Day."We have set one priority with the government for the coming year which is to help set up a diversified financing framework that will leverage additional resources for Covid-19 recovery and […]

  • ABOVE GROUND
    by The Manila Times on October 26, 2021 at 4:39 pm
  • San Juan provides free medicines
    by Christian Crow Maghanoy on October 26, 2021 at 4:38 pm

    QUALIFIED residents of San Juan City may now avail of free doctor-prescribed medicines.The medicines will be distributed from city hall and concerned barangay (village) health centers, according to Mayor Francisco Javier "Francis" Manlapit Zamora."Today we will formally open our free medicine for the modern San Juan. Our program aims to provide free medicine to our citizens. Free medicine that can help us with our needs," Zamora said in Filipino of the medical program that started on […]

  • Comelec: Expect 'major changes' in campaign guidelines
    by William Depasupil on October 26, 2021 at 4:37 pm

    POLITICAL parties and candidates in the 2022 synchronized national and local elections are in for a great surprise when the Commission on Elections (Comelec) will release this month the new campaign guidelines that will govern the mode of campaigning under the new normal.Comelec spokesman James Jimenez also disclosed on Tuesday that the poll body would likewise introduce measures to make the voting process responsive to the health guidelines of the government to avoid the spread of Covid-19."We […]

  • New party vows support for Go
    by Javier Joe Ismael,Catherine S. Valente on October 26, 2021 at 4:35 pm

    A NEWLY formed political party on Tuesday established an alliance with the ruling Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) to support the vice presidential bid of Sen. Christopher Lawrence "Bong" Go in the 2022 elections.The Reform Party, headed by former Magdalo member James Layug, and the PDP-Laban, led by Energy Secretary Alfonso Cusi, have signed an agreement affirming support for Go.In a press conference, Layug highlighted the importance of forging an alliance with the […]

  • Quarantine exemption for travelers proposed
    by Catherine S. Valente on October 26, 2021 at 4:32 pm

    PRESIDENTIAL Adviser for Entrepreneurship Jose Maria "Joey" Concepcion 3rd on Tuesday expressed hope the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) will approve his proposal to exempt from quarantine returning Filipinos and visitors from North America.Concepcion said that being a big market for airlines, North America could help local carriers recover from huge losses incurred during the pandemic, when lockdowns prevented people from traveling to […]

  • Crowding at dolomite beach fuels controversy
    by Krisitina Maralit,Eireene Jairee Gomez,Catherine S. Valente on October 26, 2021 at 4:30 pm

    MANILA Mayor Mayor Francisco "Isko Moreno" Domagoso on Tuesday asked the national pandemic task force to press charges against officials of the Department of Environment and Natural Resources (DENR) who approved the reopening of the Manila Baywalk dolomite beach for disregarding rules limiting crowd numbers.Domagoso also said the strip of artificial white sand was reopened without consulting with the city government."Binuksan nila; hindi naman kami ininform (They opened it, but we weren't […]

  • BoP goes into deficit in Sept
    by Anna Leah E. Gonzales on October 26, 2021 at 4:30 pm

    The country's balance of payments (BoP) posted a deficit of $412 million in September, the Bangko Sentral ng Pilipinas (BSP) said.Released late on Monday, the figure was a reversal from the $2.1-billion BoP surplus recorded in the same month last year and the $1.04-billion surplus in August this year.The payments balance is a record of all trade and financial transactions made between entities in one country and the rest of the world in a given period. A shortfall occurs when the country […]

  • Times forum scans growth prospects amid pandemic
    by Anna Leah E. Gonzales on October 26, 2021 at 4:27 pm

    THE Philippine economy contracted by a record 9.6 percent in 2020 due to the combined effects of the Taal Volcano eruption and the Covid-19 pandemic.More than a year after the first imposition of the strictest community quarantine measure, the economy went back to positive territory, growing by 11.8 percent in the second quarter, a reversal from the year-earlier 17-percent contraction.According to the National Economic and Development Authority (NEDA), the economy is starting to recover.The […]

  • PH shares back in the green
    by Faye Almazan on October 26, 2021 at 4:27 pm

    LAST-minute buying enabled the Philippine index to return to positive territory on Tuesday, putting a stop to its preceding back-to-back decline.The 30-member Philippine Stock Exchange index rose by 0.56 percent, or 40.56 points, to its intraday high of 7,252.10 while the broader All Shares added 0.44 percent, or 19.68 points, to finish at 4,456.52.Japhet Tantiangco, senior research analyst at Philstocks Financial Inc., said the recent change in the country's Covid-19 risk classification […]

  • PH, Korea finalize trade agreement
    by Anna Leah E. Gonzales on October 26, 2021 at 4:26 pm

    After more than two years, the Philippines-Korea Free Trade Agreement (FTA) has been finalized, the Department of Trade and Industry said.Trade Secretary Ramon Lopez and Yeo Han-Koo of the Ministry of Trade, Industry and Energy of the Republic of Korea announced the development in a joint statement issued on Tuesday.Lopez and Han-Koo said the finalization of the agreement covers trade in goods, trade remedies, rules of origin, customs procedures and trade facilitation, economic and technical […]

  • Duterte worried over failure to hit jab target
    by Krisitina Maralit on October 26, 2021 at 4:24 pm

    PRESIDENT Rodrigo Duterte has sounded the alarm over the possible failure of government to reach its target number of inoculated Filipinos against Covid-19 by year's end.According to him, with jabs fewer than a million a day, the country is hard-pressed in achieving its goal of seeing at least 50 million fully vaccinated Filipinos by the time 2022 rolls in."We also need to ramp up vaccination rates in various LGUs (local government units) in order to reach our target of inoculating 50 million […]

  • Changes to power supply bidding opposed
    by  Jordeene B. Lagare on October 26, 2021 at 4:24 pm

    VARIOUS sectoral groups on Tuesday expressed their opposition to the Department of Energy's (DoE) plan to amend certain provisions governing the competitive bidding for procuring power supply.Representatives from various business, consumer, youth and advocacy groups signed a joint manifesto opposing the proposed amendment to the Competitive Selection Process (CSP) to accommodate unsolicited proposals for power supply to distribution utilities (DUs) and electric cooperatives (ECs).The joint […]

  • Govt urged to probe top plastic polluters
    by Eireene Jairee Gomez on October 26, 2021 at 4:24 pm

    GREENPEACE Philippines on Tuesday urged the government to scrutinize the country's top plastic polluters' false sustainability claims amid the persisting plastic pollution.Based on Break Free from Plastic's 2021 global Brand Audit Report, Coca-Cola Co., Universal Robina Corp., Nestlé, Procter & Gamble and Mondelēz International are the top plastic polluters in the country."Although this is not surprising, it is disappointing that Coca-Cola and other companies continue to ignore people's […]

  • Ayala Land lists P3-B, 10-year bonds
    by Faye Almazan on October 26, 2021 at 4:23 pm

    Property giant Ayala Land Inc. has listed its P3-billion fixed-rate bonds due 2031 on the Philippine Dealing & Exchange Corp. (PDEx).The issuance serves as the first tranche of Ayala Land's newly approved third shelf registration program of P50 billion."This issuance... will bring us closer to concluding our P50-billion debt refinancing program, the largest ever, as we continue to bring down our cost of debt and lengthen our maturities," Ayala Land deputy treasurer Jose Emilio Jamir said […]

  • CLI set to start Ming-Mori project
    by Faye Almazan on October 26, 2021 at 4:23 pm

    CEBU Landmasters Inc. (CLI) on Tuesday announced it broke ground on its 100-hectare reclamation project, Minglanilla Techno Business Park (Ming-Mori).In a disclosure, the VisMin property developer said civil construction works for the project are scheduled to begin in the first quarter next year.The P20-billion development is targeted to be completed by 2025 while titling of properties will be done in phases starting 2023.Ming-Mori received the final notice to proceed from the Philippine […]

  • Complaint junked vs ex-DoTr exec, 2 others
    by Ma. Reina Leanne Tolentino on October 26, 2021 at 4:22 pm

    THE Office of the Ombudsman has dismissed the complaint filed by Busan Universal Rail Inc. (BURI) against now former Transportation Undersecretary Cesar Chavez and two others.BURI filed the complaint in September 2017 against Chavez, Hernando Cabrera and Jorjette Bellen. The complaint involved some of BURI's billings.The Ombudsman said in a joint resolution that "probable cause was not established to indict Chavez and Cabrera for violation of Section 3 (e) and (f) of Republic Act (RA) 3019 or […]

  • Remote or virtual audit – Adapting to the 'new normal'
    by Cristina Joy Dumayas on October 26, 2021 at 4:22 pm

    Since 2020, due to the Covid-19 pandemic, many were forced to abruptly adapt and adjust from the traditional "on-site" audit to remote or virtual audit. This transition has been incredibly fast that auditors are still familiarizing themselves with the new procedures.What is a remote audit?A remote audit, also known as virtual audit, refers to the use of information and communication technology (ICT) to gather information, interview an auditee, among others, when "face-to-face" methods are not […]

  • Bong Go leads opening of 145th Malasakit Center
    by Javier Joe Ismael on October 26, 2021 at 4:21 pm

    SEN. Christopher Lawrence "Bong" Go, chairman of the Senate Committee on Health and Demography, has personally attended the launch of the country's 145th Malasakit Center at the Philippine National Police (PNP) General Hospital inside Camp Crame in Quezon City on Monday.This is the 29th Malasakit Center in Metro Manila and 11th in Quezon City.In a speech at the ceremony, Go recognized the present and previous leadership of the PNP for their efforts to advance the health and well-being of the […]

  • Real sustainability as the next corporate governance challenge
    by Boyet Murcia 3rd on October 26, 2021 at 4:20 pm

    THERE is a world of difference between pre-pandemic and post-pandemic and for companies, this goes all the way to the top. Proactivity is now required of board directors as they strive to simultaneously address business model disruptions against a slowing global economy and digitalization against effective management of cyber risks, among numerous other issues.Corporate governance, or the ways companies are run to achieve their goals, has come to the forefront of the conversation. The strategy […]

  • The SEC and sustainable finance
    by Kelvin Lester K. Lee on October 26, 2021 at 4:18 pm

    I had the honor to be part of a panel, representing the Securities and Exchange Commission (SEC), at the Session 2 fireside chat of the GRI-SM Asean Sustainability E-Summit last October 21 with the theme "Leaving No One Behind: Private Sector in Solidarity for Sustainable Covid-19 Recovery and Delivering the SDGs (Sustainable Development Goals)." The event was co-organized by the Global Reporting Initiative and SM Investments Corp.I joined speakers representing regulators, financial […]

  • SM Supermalls launches The SM StartUp Package
    by The Manila Times on October 26, 2021 at 4:18 pm

    IT has been almost two years since the pandemic brought Filipino life and many livelihoods to a screeching halt. According to a 2020 Asian Development Bank (ADB) study of 1,804 Philippine MSMEs or micro, small and medium enterprises, 70.6 percent were forced to temporarily close with 66.2 percent reported to have temporary staff cuts during the height of the Covid-19 outbreak.Bucking these statistics and the odds created by the changes in the landscape, the enterprising Filipino found many […]

  • Asian markets rise on WS rally
    by Agence France-Presse on October 26, 2021 at 4:17 pm

    HONG KONG: Asian markets mostly rose on Tuesday following fresh records on Wall Street with healthy corporate earnings overshadowing ongoing concerns about inflation while progress in Washington on US President Joe Biden's big-spending economic plans also provided support.However, a fresh virus outbreak in China, which has left tens of thousands of people under lockdown, revived concerns about the world's No. 2 economy and authorities' zero-Covid policies.The S&P 500 and Dow both ended at […]

  • SMC's food drive continues to help struggling families and opens San Miguel Market for farmers,...
    by The Manila Times on October 26, 2021 at 4:17 pm

    SAN Miguel Corp. (SMC)'s pandemic food relief drive that began in March last year has yielded close to two million pieces of nutribun and pandesal bread throughout Metro Manila and neighboring provinces while its feeding center in Tondo continues to provide food aid to over 200,000 families living in Manila's poorest districts. It also inaugurated the San Miguel Market, one of the key components of its relocation model that provides at-risk and displaced fisherfolk families in Sariaya, Quezon […]

  • China, US discuss trade concerns
    by Agence France-Presse on October 26, 2021 at 4:16 pm

    BEIJING: China's Vice Premier Liu He held a call with US Treasury Secretary Janet Yellen on Tuesday to discuss trade issues with both sides highlighting points of concern in their relationship as they try to tread a new path after the upheaval of the Donald Trump era.In a video call, the two held "pragmatic, candid and constructive exchanges on the macroeconomic situation and cooperation in multilateral and bilateral fields," said China's commerce ministry in a statement.Liu expressed concern […]

  • Creating a better environment for cancer patients and their families
    by The Manila Times on October 26, 2021 at 4:16 pm

    IN line with the WHO's Global Initiative for Childhood Cancer, which aims to improve outcomes for children with cancer around the world and give them the best chance to survive and have a better future, organizations including the Kythe Foundation, Department of Health, National Integrated Cancer Control Council (NICC) and more collaborated through a panel discussion, titled "Strategic collaboration towards attaining the goal of global initiative for childhood cancer."The EON Foundation, EON […]

  • US eyes billionaires' tax to fund deficit
    by Associated Press on October 26, 2021 at 4:15 pm

    WASHINGTON, D. C.: The Democrats' idea for a new billionaires' tax to help pay for President Joe Biden's social services and climate change plan quickly ran into criticism as too cumbersome with some lawmakers preferring the original plan of simply raising the top tax rates on corporations and the wealthy.Biden said on Monday he's hopeful the talks with Congress can wrap up overall agreement on the package this week. It's tallying at least $1.75 trillion and could still be more. Biden said it […]

  • Dito expands e-loading channels
    by The Manila Times on October 26, 2021 at 4:15 pm

    BAYAD, the country's trusted brand and authority in payments, has teamed up with Dito Telecommunity Corp., the newest major local telecommunications company, to provide a safer and more convenient way for users to reload their prepaid mobile numbers.Recognizing the Filipinos' clamor for stronger connectivity, Dito remains committed to providing reliable, value-for-money and high-speed data services that allow them to nurture their relationships and connect with their loved ones across the […]

  • PH readies shift from pandemic to endemic
    by Red Mendoza on October 26, 2021 at 4:14 pm

    HEALTH Secretary Francisco Duque 3rd said the Philippines is now preparing a future where Covid-19 will shift from a global pandemic to endemic disease, while also preparing for possible emergence of new variants with increased severity.Speaking at the World Health Organization (WHO) Western Pacific Regional Committee 72nd Session held in Himeji, Japan, Duque said that despite the hardships of the Covid-19 pandemic, the committee never stopped serving the people of the region."Even though the […]

  • Samsung boss convicted for drug use
    by Agence France-Presse on October 26, 2021 at 4:14 pm

    SEOUL: The de facto leader of South Korea's sprawling Samsung group Lee Jae-yong was convicted on Tuesday of illegally using the anesthetic drug propofol, the latest legal travail to beset the multibillionaire.Lee — the vice chairman of the world's biggest smartphone maker Samsung Electronics and according to Forbes the world's 238th richest person — was fined 70 million won ($60,000) by the Seoul Central District Court, Yonhap news agency reported.The sum is around 0.0006 percent of his […]

  • CTB Convention 2021
    by The Manila Times on October 26, 2021 at 4:14 pm
  • Asean summit kicks off
    by Xinhua - on October 26, 2021 at 4:13 pm

    BANDAR SERI BEGAWAN: The Association of Southeast Asian Nations (Asean) on Tuesday kick-started its 38th and 39th summits under the chairmanship of Brunei via virtual conference with fighting the Covid-19 pandemic and promoting economic recovery high on the agenda.Speaking at the opening ceremony, Brunei's Sultan Hassanal Bolkiah said the Asean member states will take this opportunity to consider Asean's community building efforts in realizing the Asean Community Vision 2025.He noted that Asean […]

  • PayMaya among the world's best at Emerging Payments Awards 2021
    by The Manila Times on October 26, 2021 at 4:13 pm

    DIGITAL financial services leader PayMaya made waves anew at the global stage by winning two coveted awards at the Emerging Payments Awards in London, the only Philippine company recognized in the prestigious program.Organized by The Payment Association (formerly known as Emerging Payments Association), the Emerging Payments Awards (EPA) "celebrate innovation, collaboration and emerging payments by recognizing companies that have made significant advances in how we pay today."For showing […]

  • US debt limit looms again
    by Agence France-Presse on October 26, 2021 at 4:12 pm

    WASHINGTON, D. C.: The US government is once again nearing the limit on how much debt it can take on, a familiar deadline that will force the country's political elite into high-stakes negotiations over averting a default.The world's largest economy has never failed to meet a debt payment before and though standoffs like these have become familiar in Washington, Democrats and Republicans are expected to eventually reach a compromise before the limit may be reached in December.The looming […]

  • SM, GRI gather business and sustainability leaders
    by The Manila Times on October 26, 2021 at 4:12 pm

    SM Investments Corp. (SM) enjoined business leaders across the Asean region to adopt sustainable business practices during the Global Reporting Initiative-SM Asean Sustainability E-Summit 2021 on October 21 and 22.With the theme "Leaving no one behind: Private sector in solidarity for sustainable Covid-19 recovery and delivering the SDGs (sustainable development goals)," the two-day e-summit set the sustainability agenda and strategy for 2022 in the aftermath of the Covid-19 pandemic. This is […]

  • 17 bets in Isabela unopposed
    by Vince Jacob Visaya on October 26, 2021 at 4:11 pm

    CITY OF CAUAYAN, Isabela: For 17 local bets in the province of Isabela, the May 2022 elections will literally be "a walk in the park."Based on the official candidates' records submitted at the Commission on Elections regional office, 17 political candidates are running without an opposition in the coming polls.Faustino Dy 3rd, a three-term governor who is seeking his second term as vice governor of Isabela, is running unopposed. He is running under the Cusi wing of the Partido Demokratiko […]

  • China contributor to global devt – Xi
    by Xinhua - on October 26, 2021 at 4:11 pm

    BEIJING: Chinese President Xi Jinping on Monday reaffirmed China's commitment to the path of peaceful development and win-win cooperation, and called on the world to uphold the authority and standing of the United Nations and practice true multilateralism.Addressing a commemorative meeting marking the 50th anniversary of the restoration of the People's Republic of China's lawful seat at the United Nations, Xi said China would always be a builder of world peace, a contributor to global […]

  • UP opens freshmen admission for '22-'23
    by Kaithreen Cruz on October 26, 2021 at 4:11 pm

    Updated at 12:11 am Oct. 27, 2021THE University of the Philippines (UP) has started accepting applications for freshmen admission for the academic year (AY) 2022-2023."Due to the dynamic developments in the public health situation in the light of Covid-19, there is no final decision yet as to whether an admission test will be administered for intake year 2022-2023," the state university said in a statement.Admission to the university is based on students' performance in the UP College Admission […]

  • Riseup celebrates pushing women to be fit
    by The Manila Times on October 26, 2021 at 4:11 pm

    FILIPINO women take a big and challenging role during the pandemic. With lockdowns that have practically kept the family inside the home to help flatten the curb of Covid-19 cases, the women inside every home have suddenly become caretakers of sick family members while ensuring that the rest maintain an active lifestyle in order for them to be productive.Riseup Shape Up was mounted in October last year as a challenge to keep women and girls properly informed, educated and made aware on how to […]

  • COP26
    by The Manila Times on October 26, 2021 at 4:10 pm
  • Insurance premiums rise 37% to P187 billion
    by Elijah Felice Rosales on October 26, 2021 at 4:00 pm

    Insurance premiums grew more than 37 percent to P187 billion in the second quarter as the economic reopening heightened demand for both life and non-life policies.

  • Guidelines to streamline permits for fiber, cables in telco released
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Anti-Red Tape Authority, Department of Information and Communications Technology, along with other key agencies have signed the guidelines for streamlining permits and clearances for installation of fiber and cables for the telco sector to help improve internet services.

  • PSEi advances on late buying in blue chips
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Shares rebounded yesterday, tracking a rally on Wall Street, as investors picked up stocks of oversold blue chips.

  • 4 Philippine companies among World’s top 10 women-led firms
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Four Philippine companies made it to the top 10 companies in the world led by women CEOs and with the highest percentage of women executive officers, according to US-based Corporate Women Directors International.

  • BOP back to deficit in September
    by Lawrence Agcaoili on October 26, 2021 at 4:00 pm

    The country’s balance of payments reverted to a deficit of $412 million in September, ending two months of surpluses, as the national government paid maturing foreign obligations.

  • ‘Philippine recovery imperilled by failure to narrow budget gap’
    by Louise Maureen Simeon on October 26, 2021 at 4:00 pm

    The Philippines’ economic recovery may be put in jeopardy as the government continues to fail in narrowing the budget shortfall, a global think tank said.

  • DA eyes additional fertilizer subsidies for farmers
    by Catherine Talavera on October 26, 2021 at 4:00 pm

    The Department of Agriculture is looking at providing additional fertilizer subsidies to farmers as well as setting a suggested retail price as part of efforts to address the rising costs of the product.

  • BIR taps Russian, Korean experts in digital taxation
    by Elijah Felice Rosales on October 26, 2021 at 4:00 pm

    The Bureau of Internal Revenue will work with its counterparts from Russia and South Korea to come up with a tax structure that would capture digital transactions.

  • Government agencies told to implement competition policies
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Philippine Competition Commission welcomed President Duterte’s issuance of an administrative order directing all government agencies to implement the National Competition Policy as this would provide a level playing field for businesses.

  • Surveys
    by Boo Chanco on October 26, 2021 at 4:00 pm

    There are surveys and there are those pretending to be surveys. It is election season and posting numbers indicating likely voting preferences generates social media clicks and traditional media attention.

  • Prices of building materials spike as NCR lockdowns ease
    by Louise Maureen Simeon on October 26, 2021 at 4:00 pm

    Retail and wholesale prices of building materials in Metro Manila surged in September as business activities resumed with the easing of quarantine measures in the capital, the Philippine Statistics Authority said.

  • ICTSI deploys 5G technology at MICT
    by Richmond Mercurio on October 26, 2021 at 4:00 pm

    Ports giant International Container Terminal Services Inc. is set to operate the country’s first 5G-enabled “intelligent” port at its flagship Manila International Container Terminal under a partnership with telco giant PLDT Inc. and its wireless subsidiary Smart Communications Inc.

  • What would Secretary Cusi do?
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Energy Secretary Alfonso Cusi, finding himself at the center of the controversy related to the sale of Malampaya to Dennis Uy’s Udenna Group, said it’s a damned-if-you-do, damned-if-you-don’t situation.

  • WorldRemit sees marked shift to digital
    by Lawrence Agcaoili on October 26, 2021 at 4:00 pm

    Leading remittance firm WorldRemit sees higher adoption of digital remittances by overseas Filipino workers (OFWs) as cross-border cash flows have adversely been affected by the pandemic.

  • Philippines, South Korea wrap up talks on free trade
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Philippines and Korea have concluded negotiations for a free trade agreement, which is aimed to be signed before February next year.

  • PH shares join Asian rally on global earnings reports
    by ABS-CBN News on October 26, 2021 at 3:26 pm

    Philippine shares rose amid Asian optimism, inching closer to 7,300.

  • UK spy chiefs seal cloud data deal with Amazon: FT
    by Agence France-Presse on October 26, 2021 at 12:52 pm

    UK intelligence agencies have entrusted classified data to Amazon in a deal designed to vastly speed up their espionage capabilities.

  • Dollar slips, lacking momentum ahead of central bank meetings
    by Elizabeth Howcroft, Reuters on October 26, 2021 at 12:31 pm

    The dollar slipped but struggled to gain momentum, with most major currency pairs little changed as investors waited for major central bank meetings.

  • South Korea, Philippines strike free trade deal
    by kadraneda on October 26, 2021 at 12:05 pm

    South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea’s trade portfolio, Seoul’s trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade The post South Korea, Philippines strike free trade deal appeared first on Inquirer Business.

  • Transit Authority, P38 billion needed to address EDSA bus woes: transport experts
    by Bruce Rodriguez, ABS-CBN News on October 26, 2021 at 11:52 am

    The creation of a transit authority along with P38 billion in investments would help improve the public bus system in Metro Manila, transport experts said.

  • 'Durog na durog na kami': Gasolina sumirit na sa P70/litro
    by ABS-CBN News on October 26, 2021 at 11:39 am

    Lagpas P70 na kada litro ang gasolina sa ilang gasolinahan dahil sa sunod-sunod na pagtaas ng presyo, ayon sa DOE.

  • Fuel subsidies should be released directly to drivers: transport leader
    by ABS-CBN News on October 26, 2021 at 10:35 am

    A transport group on Tuesday urged government to release fuel subsidy directly to public utility drivers to help them cope with rising costs of fuel.

  • Public-private task force bats for further quarantine easing in NCR, faster vax rollout
    by ABS-CBN News on October 26, 2021 at 10:17 am

    Task Force T3 is also batting for faster rollout of the vaccination program outside the NCR and the inoculation of 12 to 17-year-olds.

  • PH looking into ETM financing in shift to nonpolluting energy
    by tbergonia on October 26, 2021 at 9:18 am

    MANILA, Philippines—The Philippines is looking into the viability of the so-called energy transition mechanism (ETM) to finance its shift to clean and renewable sources of power from the current dependence on coal. The Asian Development Bank (ADB) and the Philippines, Indonesia and Vietnam were studying the feasibility of the ETM program to establish an ETM The post PH looking into ETM financing in shift to nonpolluting energy appeared first on Inquirer Business.

  • Most Asian markets rise after Wall St record, earnings in focus
    on October 26, 2021 at 9:07 am

    Asian markets mostly rose on Tuesday following fresh records on Wall Street, with healthy corporate earnings overshadowing ongoing concerns about inflation, while progress in Washington on Joe Biden's big-spending economic plans also provided support.

  • Leody De Guzman bats for 'control' of oil industry, says PUV fuel subsidy 'insufficient'
    by Josiah Antonio, ABS-CBN News on October 26, 2021 at 9:06 am

    Leody De Guzman on Tuesday said the government should "control" the oil industry amid the successive hikes in fuel prices

  • Mga manggagawa dapat prayoridad sa COVID-19 booster shots- TUCP
    by ABS-CBN News on October 26, 2021 at 8:39 am

    Umaapela ang mga manggagawa na isali ang kanilang sektor sa mga matuturukan ng booster shot.

  • Insurers’ net income up 29.4 percent to P24.6 billion in first half of 2021
    by jcristobal on October 26, 2021 at 8:06 am

    MANILA, Philippines—Insurers’ aggregate bottom line grew 29.4 percent year-on-year to P24.6 billion in the first half of 2021 because of improving economic conditions and more interest in insurance coverage amid a prolonged pandemic, the Insurance Commission (IC) said on Tuesday (Oct. 26). In a statement, Insurance Commissioner Dennis Funa said the combined net income of The post Insurers’ net income up 29.4 percent to P24.6 billion in first half of 2021 appeared first on Inquirer […]

  • Foreign debt payment returns PH dollar stash to deficit in September
    by dagacer on October 26, 2021 at 8:00 am

    MANILA, Philippines—More dollars left than entered the Philippines last month as the national government’s foreign debt payments outweighed earnings from overseas, according to the Philippine central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s overall balance of payments position posted a deficit of $412 million in September 2021, marking a The post Foreign debt payment returns PH dollar stash to deficit in September appeared first on Inquirer Business.

  • Philippines studying ways to track, and tax, online sales
    by Ramon Royandoyan on October 26, 2021 at 7:49 am

    The national government is looking for ways to cash in on the online selling craze.

  • UK's Heathrow Airport flags tepid travel recovery until 2026
    by Reuters on October 26, 2021 at 7:14 am

    Britain's Heathrow Airport Ltd said on Tuesday it was still reporting losses and does not expect air traffic to recover completely until at least 2026.

  • Seoul court fines Samsung leader Lee for unlawful sedative use–Yonhap
    by dlejano on October 26, 2021 at 6:47 am

    SEOUL — A Seoul court fined Samsung Electronics Co Ltd Vice Chairman Jay Y. Lee 70 million won ($59,461.62) plus a fee for unlawful use of a controlled substance, Yonhap reported on Tuesday. Seoul Central District Court fined Lee for being administered propofol, a sedative used in anesthesia, multiple times between 2015-2020, Yonhap said. Under The post Seoul court fines Samsung leader Lee for unlawful sedative use–Yonhap appeared first on Inquirer Business.

  • Mastercard expands cryptocurrency services with wallets, loyalty rewards
    by Reuters on October 26, 2021 at 6:31 am

    Mastercard Inc said on Monday it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.

  • BIR urged to 'catch up' with peers on digital tax as e-commerce, influencers grow
    by ABS-CBN News on October 26, 2021 at 5:12 am

    The DOF has asked the BIR to study the digital tax practices in other countries as the number of online sellers and social media influencers continue to grow.

  • Samsung boss convicted, fined for anesthetic misuse: Yonhap
    by Agence France-Presse on October 26, 2021 at 4:10 am

    The de-facto leader of South Korea's sprawling Samsung group Lee Jae-yong was convicted Tuesday of illegally using the anesthetic drug propofol, the latest legal travail to beset the multi-billionaire.

  • Debt payments bring Philippines' dollar position back to deficit in September
    by Ian Nicolas Cigaral on October 26, 2021 at 4:07 am

    The Philippines’ dollar position is back to a deficit in September.

  • San Miguel says 'contemplating' proposal for semicon hub in Cavite
    by ABS-CBN News on October 26, 2021 at 3:54 am

    San Miguel Corp on Tuesday said it is eyeing to build a hub in Cavite for manufacturing semiconductor and electronic devices.

  • Ripple and Tranglo Singapore’s partnership scales to new heights in Asia Pacific
    by vcatibog on October 26, 2021 at 3:49 am

    Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, announced new milestones in its partnership with Tranglo — following Ripple’s intent to acquire a 40% stake in Asia’s leading cross-border payments specialist in March 2021 to scale the footprint of RippleNet, Ripple’s global financial network, in the region and beyond. The partnership has demonstrated The post Ripple and Tranglo Singapore’s partnership scales to new heights in […]

  • Filinvest REIT Corporation Notice of Annual Stockholders’ Meeting
    by bdiaz on October 26, 2021 at 2:57 am

    See below for Notice of Annual Stockholders’ Meeting of Filinvest REIT Corporation: ADVT. The post Filinvest REIT Corporation Notice of Annual Stockholders’ Meeting appeared first on Inquirer Business.

  • End-Sept budget deficit widens to P 1.14T, up 29.6%
    by besguerra on October 25, 2021 at 8:06 pm

    The end-September budget deficit widened by 29.6 percent year-on-year to P1.14 trillion due to higher, but still below-program, government spending during the first nine months. The Bureau of the Treasury’s cash operations report released on Monday showed expenditures from January to September climbed 11.7 percent to P3.38 trillion from P3.02 trillion a year ago. The The post End-Sept budget deficit widens to P 1.14T, up 29.6% appeared first on Inquirer Business.

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