Business | ABS-CBN News

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 »

PAL bats for more international arrivals

ABS-CBN News
Sep 21 03:32 PM | Updated Sep 21 06:26 PM

PAL urged the government to relax the mandatory quarantine rules for fully vaccinated travelers and to remove the cap for international arrivals. Read more »

Crunch time for Evergrande, but no 'Lehman moment'

Agence France-Presse
Sep 21 02:55 PM

Talk of a 'Lehman moment' has rung loud this week as worried investors try to ascertain whether the crisis could be a replay of the Wall Street titan. Read more »

2,600 trabaho alok ng gov't online fair

ABS-CBN News
Sep 21 01:51 PM | Updated Sep 22 08:28 PM

Aabot sa 2,600 trabaho ang alok ng government online career fair ng Civil Service Commission na magtatagal hanggang Setyembre 24. Read more »

DOF: SSS released P2.62-B unemployment benefits

ABS-CBN News
Sep 21 01:43 PM

About 196,000 SSS members received P2.62 billion in unemployment benefits, most of which were released during the COVID-19 pandemic, the DOF said. Read more »

McDonald’s says 68 pct of NCR resto staff fully vaxed

ABS-CBN News
Sep 21 01:11 PM

McDonald’s said 68 percent of its restaurant managers and crew in NCR are fully vaccinated against COVID-19 while 98 percent have taken at least one dose. Read more »

DITO says 3-million subscriber mark reached

ABS-CBN News
Sep 21 11:32 AM

A total of 3 million have subscribed to the services of third telco DITO Telecommunity as of Tuesday, Sept. 21, it said. Read more »