Business | ABS-CBN News

MOVE IT motorcycle taxi to be on Grab app

ABS-CBN News
Sep 22 05:31 PM

MOVE IT will be available on the Grab platform starting Sept. 23, the transport firms said in a joint statement. Read more »

PH banking system 'stable' as total assets grow: BSP

ABS-CBN News
Sep 22 05:25 PM

The Philippine banking system remains stable despite the ongoing COVID-19 pandemic as total assets grew, BSP data showed. Read more »

Fitch Solutions sees peso weakening in near term

ABS-CBN News
Sep 22 04:57 PM

Fitch Solutions said this was because of the uncertainty around the country’s handling of the COVID-19 crisis, low rates, and weakening fundamentals. Read more »

'Pag-IBIG dapat alisin ang parusa sa mga di makabayad ng kontribusyon'

ABS-CBN News
Sep 22 04:07 PM

Humihirit ang mga negosyante sa Pag-IBIG Fund na tanggalin ang pentalty ng mga employer na hindi nakabayad ng kontribusyon ng mga manggagawa. Read more »

PCCI opposes telco, transpo, power designation as utilities

ABS-CBN News
Sep 22 03:24 PM

PCCI said it strongly opposes reclassifying the transport, telecommunications and power generation industries as public utilities. Read more »

BSP seen keeping rates low for extended period

Jessica Fenol, ABS-CBN News
Sep 22 03:15 PM

The BSP is likely to maintain an accommodative monetary policy for an "extended period of time," an official of Citi Philippines said. Read more »

PAL files petition for Chapter 11 recognition in Pasay

ABS-CBN News
Sep 22 12:15 PM

Philippine Airlines said Wednesday it filed a petition in a Pasay City Court for the recognition of its Chapter 11 filing in the US. Read more »

IMF execs meets over charges boss changed data to favor China

Agence France-Presse
Sep 22 11:58 AM | Updated Sep 22 12:16 PM

The International Monetary Fund's board of directors met Tuesday over charges that its director, Kristalina Georgieva, pressured staff in 2017 when she was the World Bank CEO to change data in a key ranking report to paint China in a more positive light. Read more »

Evergrande to make domestic bond coupon payment, soothing fears

Reuters
Sep 22 11:53 AM

China Evergrande Group's main unit said on Wednesday it would make a coupon payment on its domestic bonds on Sept. 23, offering some relief to jittery markets that had been on edge over fears that a default of China's No. 2 developer could ripple through the global financial system. Read more »

Medical, pharma firms to set up shop in ecozones

ABS-CBN News
Sep 22 11:37 AM | Updated Sep 22 12:09 PM

A number of international medical and pharmaceutical firms will invest and will soon set-up shop within the country's economic zones, an official said Wednesday. Read more »

ADB keeps Philippine growth outlook for 2021

Jessica Fenol and Warren De Guzman, ABS-CBN News
Sep 22 10:46 AM | Updated Sep 22 04:05 PM

The Asian Development Bank on Wednesday kept its growth outlook for the Philippine economy for 2021 while downgrading the forecasts for Southeast Asia and the rest of developing Asia. Read more »

COCOPEA, umaasang maipapasa ng Senado ang tax rate law

ABS-CBN News
Sep 22 10:45 AM

Inaasahan ng grupo ng mga pribadong paaralan na maipapasa ng Senado ang batas na tutulong sa kanila para makakuha ng preferential tax rate na 10 percent sa ilalim ng Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Read more »

ADB cuts Asia growth forecast on slow COVID vaccine rollout

Agence France-Presse
Sep 22 10:35 AM

The Asian Development Bank warned of "lasting scars" from the coronavirus pandemic as it cut its 2021 growth forecast for developing Asia on slow vaccination rates, surging infections and crippling lockdowns. Read more »

Biden sanctions cryptocurrency exchange Suex

Alexandra Alper, Reuters
Sep 22 09:18 AM

The Biden administration on Tuesday unveiled sanctions against a cryptocurrency exchange over its alleged role in enabling illegal payments from ransomware attacks, officials said, part of a broader crackdown on the growing threat. Read more »

PH aims to cut greenhouse-gas emissions by 75% by 2030

ABS-CBN News
Sep 22 09:02 AM | Updated Sep 22 09:24 AM

Duterte said a moratorium on the construction of new coal power plants has been issued, as well as a "directive" to explore nuclear-energy options. Read more »

Facebook seeks to defend itself after scathing reports

Agence France-Presse
Sep 22 05:05 AM

One of the articles, citing Facebook's own research, said a 2018 change to its software ended up promoting political outrage and division. Read more »

Xi to UN: China to stop funding coal projects overseas

Agence France-Presse
Sep 22 04:56 AM

Addressing the UN General Assembly, Xi made the promise as he vowed to accelerate efforts to help the world battle the climate crisis. Read more »

Prangkisa ng Maynilad, Manila Water, lusot sa 2nd reading ng Senado

Robert Mano, ABS-CBN News
Sep 21 11:37 PM

Sa mga panukalang batas, magpapatuloy ang Maynilad sa pagseserbisyo sa West Zone Service area ng Metro Manila at Cavite. Read more »

House approves 12% VAT on digital transactions

ABS-CBN News
Sep 21 11:35 PM

The House of Representatives has approved House Bill 7425, imposing a 12 percent value-added tax on digital transactions in the Philippines. Read more »

PH shares stage last-minute recovery, climbs to 6,881

ABS-CBN News
Sep 21 10:34 PM

The Philippine Stock Exchange Index snapped its two-day losing streak after staging a last-minute recovery. Read more »

OECD lowers global, US economic growth forecasts

Agence France-Presse
Sep 21 09:20 PM

The OECD warned Tuesday of an "uneven" global economic recovery as it lowered its 2021 growth forecasts for the world and the United States. Read more »

San Miguel takes step closer to Pasig River Expressway

ABS-CBN News
Sep 21 08:20 PM

San Miguel Corp moved a step closer to building a tollway along the Pasig River as it signed an agreement on the project with government officials. Read more »

Fintech group tells lending apps to uphold data privacy laws

ABS-CBN News
Sep 21 07:19 PM

Online lending apps should ensure the protection of data provided by their users as mandated by law, Fintech Alliance.PH said Tuesday. Read more »

Putulan ng kuryente at tubig, tigil sa mga naka-granular lockdown

ABS-CBN News
Sep 21 07:13 PM

Wala munang putulan ng linya ng kuryente at tubig sa mga lugar na nasa ilalim ng granular lockdown sa Metro Manila. Read more »

Senators question 4 pct markup by PS-DBM

Warren de Guzman, ABS-CBN News
Sep 21 07:05 PM

Senators questioned why the PS-DBM charges a 4 percent markup for supplies it buys for other government agencies. Read more »