Business | ABS-CBN News

In banning Huawei and ZTE, Sweden calls China a national security threat

Stuart Lau, South China Morning Post
Oct 21 06:53 PM

The prohibition has already drawn a response from Beijing, but stark description may lead to retaliation against telecoms giant Ericsson. Stockholm’s statement contrasts with other European countries that have been trying to deal with China more diplomatically. Read more »

Smart completes rebranding of Sun Prepaid to Smart Prepaid

ABS-CBN News
Oct 21 05:26 PM

PLDT Inc said Wednesday its wireless arm Smart Communications has completed the rebranding of Sun Prepaid to Smart Prepaid. Read more »

Online business ideas you can start at home in 2020

Moneymax.ph
Oct 21 04:56 PM

If you’re looking to start an online business, this list will give you a few ideas. Read more »

China vice premier says economy will very likely achieve positive growth this year

Reuters
Oct 21 04:07 PM

China's Vice Premier Liu He said on Wednesday the economy will very likely achieve positive growth this year, adding that China's prudent monetary policy should be kept appropriate and flexible, and liquidity reasonably ample. Read more »

Aboitiz Group bets on public-private cooperation, digital pivot to hasten economic recovery

ABS-CBN News
Oct 21 04:02 PM

Public and private coordination as well as digital innovation could hasten economic recovery and resilience against the COVID-19 pandemic, the Aboitiz Group said Wednesday.  Read more »

'No contract awarded yet' for proposed NAIA Expansion project: DOTr

ABS-CBN News
Oct 21 03:17 PM

The Department of Transportation said Wednesday no contract has been awarded yet for the proposed NAIA Expansion project.  Read more »

Philippine economy 2020: How it started vs how it's going

Warren de Guzman and Edson Guido, ABS-CBN News
Oct 21 02:58 PM | Updated Oct 21 04:51 PM

The year 2020 was supposed to bring in nearly $9 billion in net foreign direct investment inflows, a near 10 percent growth in tourism income, and the steady, ever-so-reliable dollar income stream of overseas Filipino remittances and business process outsourcing. Trade was also seen continuing at a deficit, as the Philippines imported more to feed its growing appetite for infrastructure and foreign goods and services. Read more »

Skyway extension likely to open before end of November: Villar

ABS-CBN News
Oct 21 02:57 PM

The Skyway extension connecting the North Luzon Expressway and the South Luzon Expressway is expected to open as early as end of November, Public Works Secretary Mark Villar said Tuesday. Read more »

Philippine stocks rise as virus cases slow

Shriya Ramakrishnan, Reuters
Oct 21 02:12 PM

Philippine shares hit their highest level in over three months on Wednesday after a drop in new COVID-19 infections. Read more »

DA: Pork supply 'enough' for holiday season despite African swine fever threat

ABS-CBN News
Oct 21 01:33 PM

The country's pork supply will be enough for the upcoming Christmas holidays, even as African swine fever remains "a threat" to the hog industry, the agriculture department said Wednesday. Read more »

Apple iPhone 12 review: Superfast speed, if you can find it

Brian X. Chen, The New York Times
Oct 21 01:05 PM | Updated Oct 21 01:43 PM

Apple’s newest iPhones, for the first time, work with 5G, the ultrafast fifth-generation wireless networks that will theoretically let people download a movie to their devices in seconds. The problem? The superspeedy 5G networks have not been rolled out everywhere.   Read more »

US seeks to sway Brazil on Chinese 5G with $1 billion deal

Agence France-Presse
Oct 21 12:12 PM

The United States promised Brazil $1 billion in financing toward US imports Tuesday, adding a carrot to its campaign to convince the country not to use China's Huawei to develop its 5G network. Read more »

Lokal na produksiyon ng manok nabawasan; maraming 'family farms' apektado: UBRA

ABS-CBN News
Oct 21 12:00 PM | Updated Oct 21 03:08 PM

Umaaray ang mga nag-aalaga at may-ari ng manukan sa bansa dahil sa patuloy na pag-angkat ng manok mula sa ibang bansa. Dahil dito, halos 30-40 porsiyento ang ibinawas sa kanilang lokal na produksiyon. Read more »

Palace seeks 'leeway' in hiring Chinese workers for infra projects

Jamaine Punzalan, ABS-CBN News
Oct 21 11:35 AM

Malacañang appealed Wednesday for "leeway" in hiring Chinese workers engaged in ongoing infrastructure projects, which a senator criticized as the COVID-19 pandemic spawned job cuts for Filipinos in the construction industry.  Read more »

What Is happening with the antitrust suit against Google?

The New York Times
Oct 21 11:22 AM

The Justice Department sued Google on Tuesday, accusing the company of illegally abusing its dominance in internet search in ways that harm competitors and consumers.   Read more »

BDO partners with sari-sari stores, community businesses for cash needs in far-flung areas

ABS-CBN News
Oct 21 10:39 AM | Updated Oct 21 11:06 AM

BDO Unibank said Wednesday it found a way to provide banking services such as withdrawals for the unbanked and residents of far-flung areas where there are no banks or automated teller machines.   Read more »

DPWH urged to amend right-of-way regulations to hasten telco infra build

ABS-CBN News
Oct 21 10:15 AM | Updated Oct 21 10:16 AM

The Department of Public Works and Highways should revisit and amend orders to establish a more "conducive" right-of-way regulations to help improve internet connectivity in the country, telecom-related agencies said Wednesday. Read more »

Cathay Pacific to cut 5,900 jobs, end Cathay Dragon brand due to pandemic

Jaime Freed, Reuters
Oct 21 08:28 AM

Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would cut 5,900 jobs and end its regional Cathay Dragon brand as it grapples with a plunge in demand from the coronavirus pandemic. Read more »

Hiring of 'contract of service', 'job order' workers extended to end of 2022: DBM

ABS-CBN News
Oct 21 07:59 AM

Government has extended until the end of 2022 the period of its hiring contract of service and job order workers due to the COVID-19 pandemic, Budget Secretary Wendel Avisado said Wednesday. Read more »

Pandemic speeds labor shift from humans to robots: WEF survey

Reuters
Oct 21 06:58 AM | Updated Oct 21 07:58 AM

ZURICH - Robots will destroy 85 million jobs at mid-sized to large businesses over the next five years as the COVID-19 pandemic accelerates changes in the workplace likely to exaggerate inequalities, a World Economic Forum (WEF) study has found. Read more »

Google's war on all fronts over media, competition and tax

Vanessa Carronnier, Agence France-Presse
Oct 21 06:58 AM

Californian internet giant Google faces a growing list of battles around the world, from tussles in Europe and Australia over fair compensation for media outlets to competition probes on both sides of the Atlantic. Read more »

Netflix misses estimates for new subscribers as pandemic boost slows

Lisa Richwine and Ayanti Bera, Reuters
Oct 21 05:37 AM

Netflix Inc on Tuesday reported fewer paid subscribers than Wall Street expected in the third quarter as streaming competition increased and live sports returned to television.   Read more »

US slaps Google with antitrust suit, eyes possible breakup

Rob Lever, Agence France-Presse
Oct 21 03:18 AM

WASHINGTON - The US government filed a blockbuster lawsuit Tuesday accusing Google of maintaining an "illegal monopoly" in online search and advertising in the country's biggest antitrust case in decades -- and opening the door to a potential breakup of the Silicon Valley titan. Read more »

Portugal's unemployed numbers jump 36%

Reuters
Oct 20 10:07 PM

The number of people registered as unemployed in Portugal jumped 36% in September from a year ago, with the tourism-dependent Algarve region suffering the hardest blow as the coronavirus wiped out thousands of seasonal jobs, data showed on Tuesday. Read more »

Microsoft cloud computing looks to the stars

Agence France-Presse
Oct 20 09:36 PM

Microsoft on Tuesday said its Azure cloud computing service is taking to outer space, and will deliver datacenter power to remote spots on Earth in the process.   Read more »