Business | ABS-CBN News

Poe calls on NEDA to fast track transport master plan

Ina Reformina, ABS-CBN News
Nov 19 01:25 AM

Senate Public Services Committee chair Sen. Grace Poe called on the National Economic and Development Authority (NEDA) Monday to fast track the completion of the transportation master plan, noting it was supposed to be finished last August. Read more »

House committee approves bill imposing 5 percent franchise tax on POGOs

ABS-CBN News
Nov 19 01:06 AM

The taxability of Philippine offshore gaming operations is now in contention after the House Ways and Means Committee approved a bill seeking to impose a 5 percent franchise tax on the booming industry. Read more »

Underpayment one of top complaints of employees, DOLE says

ABS-CBN News
Nov 18 10:53 PM

The Bangko Sentral ng Pilipinas and the Department of Labor and Employment are urging businesses to course employees' salaries through bank accounts instead of in cash. Read more »

IMF raises growth outlook for PH in 2020 to 6.3 percent

ABS-CBN News
Nov 18 10:49 PM

The International Monetary Fund forecasts quickening economic growth for the Philippines, but only if it stays the course on structural reforms, such as rice tariffication, and if the 2020 national budget gets passed on time. Read more »

Investors step up pressure on global energy watchdog over climate change

Matthew Green and Jonas Ekblom, Reuters
Nov 18 10:34 PM

Fatih Birol, the head of the International Energy Agency (IEA), faced renewed pressure on Monday from investors and scientists concerned about climate change to overhaul the agency's projections for fossil fuel demand. Read more »

PSEi falls below 7,900

ABS-CBN News
Nov 18 08:44 PM

Despite the lag, an analyst believes now's the best time to invest in blue chip stocks. Read more »

Rice Tariffication Law worse than Yolanda, says rice farmers alliance

ABS-CBN News
Nov 18 08:15 PM

The Rice Tariffication Law is worse than supertyphoon Yolanda in terms of its damage to the livelihood of rice farmers, an alliance of farmers organizations and advocates said on Monday. Read more »

Emirates announces $16 billion deal to buy 50 Airbus 350s

Agence France-Presse
Nov 18 07:00 PM

Emirates Airline said Monday it will buy 50 Airbus 350-900 aircraft in a deal worth $16 billion, with delivery to begin from May 2023. Read more »

Labor dept eyes dialogue with Regent Foods for release of jailed workers

ABS-CBN News
Nov 18 06:56 PM

Pasig City Mayor Vico Sotto on his Facebook page said he had already asked Regent Foods Corp. to drop the charges against 23 workers who were arrested during a strike last Nov. 9. Read more »

SoftBank's Yahoo Japan to merge with Line app operator

Agence France-Presse
Nov 18 05:42 PM

Mobile operator SoftBank Corp, the parent of Z Holdings (ZHD), and South Korea's Naver, Line's parent company, agreed the merger of ZHD and Line, SoftBank and Naver said in a joint statement. Read more »

Finance Sec Dominguez: POGOs subject to income tax

ABS-CBN News
Nov 18 04:05 PM

Dominguez was reacting to a Philippine Star report which quoted the Office of the Solicitor General (OSG) as saying that Philippine Offshore Gaming Operations (POGOs) are not subject to local tax. Read more »

Presyo ng hamon tumaas: DTI

ABS-CBN News
Nov 18 03:45 PM | Updated Nov 18 07:03 PM

Nagkaroon ng pagtaas sa presyo ng hamon sa ilang pamilihan kasunod ng pag-apruba ng Department of Trade and Industry (DTI) sa hiling ng mga manufacturer nito. Read more »

Wawa dam project gets final regulatory approval: proponent

ABS-CBN News
Nov 18 03:35 PM

A regulator has given its final approval to the proposal to develop the Wawa Dam in Rodriguez, Rizal as a new water source for the Metro Manila, the project's proponent said on Monday.  Read more »

Asian airlines slash flights to Hong Kong as unrest escalates

Jamie Freed, Reuters
Nov 18 02:56 PM

Routes Online said the latest schedules showed cancellations from PT Garuda Indonesia (Persero) Tbk, India's SpiceJet Ltd, Malaysia's AirAsia Group Bhd, South Korea's JejuAir Co Ltd and Jin Air Co Ltd and the Philippines' PAL Holdings Inc and Cebu Air Inc. Read more »

Grab ordered to refund P5 million in excess charges

Jessica Fenol and Bruce Rodriguez, ABS-CBN News
Nov 18 10:53 AM | Updated Nov 18 03:34 PM

The P5 million refund is part of a total P23 million in fines for several of Grab's violations of its own commitments from August last year to May this year. Read more »

Money you can't touch: Filipinos ease into cashless, digital wallets

Jessica Fenol, ABS-CBN News
Nov 18 10:29 AM | Updated Nov 18 01:33 PM

As digital wallets like GCash and PayMaya and online shopping platforms like Shopee and Lazada make the case for a cashless future, Filipinos, especially those who are not too digital-savvy, seek reassurance that the platforms are safe.   Read more »

US to extend license for its companies to continue business with Huawei: sources

David Shepardson and Steve Holland, Reuters
Nov 18 08:55 AM

After adding Huawei to an economic blacklist in May citing national security concerns, the US Commerce Department has allowed it to purchase some American-made goods in a move aimed at minimizing disruption for its customers, many of which operate networks in rural America. Read more »

Asia shares in waiting mode ahead of Fed, ECB events

Wayne Cole, Reuters
Nov 18 08:52 AM

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.06 percent in very light volumes. Read more »

Shop gifts that keep on giving

Aneth Ng-Lim
Nov 18 08:51 AM

The Philippines is home to many social entrepreneurs committed to triple bottom line results, focusing not only on profit but also on their impact on people (greater community) and planet (environmental sustainability).   Read more »

HP says open to exploring bid for Xerox

Greg Roumeliotis, Reuters
Nov 18 08:22 AM

HP Inc said on Sunday it was open to exploring a bid for US printer maker Xerox Corp after rebuffing a $33.5 billion cash-and-stock acquisition offer from the latter as "significantly" undervaluing the personal computer maker.   Read more »

Aramco declares $1.71 trillion valuation in blockbuster IPO

Anuj Chopra, Agence France-Presse
Nov 18 08:21 AM

Saudi Arabia on Sunday put a value of up to $1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of $2 trillion.  Read more »

ALAMIN: 'Dagdag-bawas' presyo ng petrolyo simula Oktubre 17

ABS-CBN News
Nov 17 12:56 PM

Nag-anunsiyo ang mga kompanya ng langis na magpapatupad sila ngayong linggo ng pagtaas sa presyo ng gasolina at bawas sa presyo ng diesel at kerosene.   Read more »

#WalangKuryente: Power interruption sa Luzon sa Nobyembre 18-24

ABS-CBN News
Nov 17 12:16 PM

Makararanas ng pansamantalang pagkawala ng kuryente ngayong linggo ang ilang lugar sa Metro Manila at mga karatig-lalawigan, ayon sa Meralco. Read more »

Vico Sotto tells Regent Foods to drop charges vs protesting workers

ABS-CBN News
Nov 17 12:13 PM | Updated Nov 17 04:04 PM

Pasig City Mayor Vico Sotto on Sunday urged Regent Foods Corporation to drop its complaint against 23 people detained over a labor protest on Nov. 9. Read more »

Google enters battle for cloud gaming market

Glenn Chapman, Agence France-Presse
Nov 17 10:20 AM

The internet giant hopes to break into the growing $135 billion global video game industry with cloud technology that could broaden audiences attracted by rich new features.   Read more »