Business

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Philippine-Offshore-Gaming-Operators

MANILA – Philippine Offshore Gaming Operators (POGOs) that fail to pay their taxes will be prohibited to resume operations, Malacañang said on Thursday. The government will stand by its policy that operators need to settle their unpaid taxes first before being allowed to operate in the country. According to Presidential Spokesman Harry Roque, The government will be strict on policy implementation ensured that the Duterte administration would not tolerate tax-evading

Fisheries

MANILA – The Department of Agriculture (DA) is eyeing a $200-million funding from the World Bank to improve the country’s fisheries output and modernization of the industry. Agriculture Secretary William D. Dar said in a statement that he recently pitched its FishCoRe (Fisheries and Coastal Resiliency) that aims to scale up and modernize and provide technical support and capital for the industry as the country rebounds from the impact of

San_Miguel

MANILA – SAN Miguel Corp., the country’s largest conglomerate, reported a 20% drop in consolidated net income to ₱5.8 billion in the first quarter of the year while operating income also declined by 20 percent to ₱8.6 billion. In a statement released by the company, it registered consolidated revenues of ₱69.0 billion in 1Q of 2020, a 9% dip the same period last year due to the impact brought upon

Loan

MANILA – The Asian Development Bank (ADB) has granted a $400-million, or roughly ₱20 billion policy-based loan to help the Philippines boost its local capital markets. As the Philippines need to strengthen its domestic capital markets and sustained economic growth impacted by the pandemic, the loan will also support the infrastructure finance as well as government’s response to COVID-19. The government’s infrastructure development program “Build Build Build” is targeting an

Philippine_Airlines

MANILA – Flag carrier Philippine Airlines (PAL) may be forced to  lay off more employees due to revenue losses in the current imposed travel ban in countries hit by the COVID-19 outbreak. The layoff may depend on how its recovery goes once commercial flights are allowed to resume. According to Philippine Airlines President and COO Gilbert Santa Maria in an ANC interview that revenue losses are nearing $1 billion due

Philippine Airlines

MANILA, Philippines – The Philippine aviation industry on Monday, May 11, are asking lawmakers for financial aid of about P8.6 billion in monthly assistance to sustain operations, as the industry crashed due to the pandemic. Air Carriers Association of the Philippines vice chairman Roberto Lim said at the senate hearing on the resumption of mass transportation, that the industry needed funds would cover P1.3 billion for wage subsidy, P500 million

ABS-CBN

MANILA, Philippines – Billionaire Tycoon Dennis Uy, a campaign supporter of President Rodrigo Duterte, has denied speculations that his holding company Udenna Corporation has plans to acquire ABS-CBN Corporation. Dennis Uy said that the company has no plans on venturing into broadcasting as of the moment. “Let me be clear once and for all and say that we, in Udenna Corporation, have no intention to acquire ABS-CBN.” “Being in the

POGOs

MANILA, Philippines – Philippines’ biggest business process outsourcing companies have banded together and rejected Malacanang’s comparison of their operations with offshore gaming firms in the country that has given the go signal to resume operations. Harry Roque said on Friday that the government considered the Philippine offshore gaming operators as part of the BPO industry and approved to resume operations. IT and Business Process Association of the Philippines rejects Roque’s

Taiwan-workers

TAIPEI – Taiwan’s foreign ministry has dismissed the Philippine government’s call for the deportation of a Filipina worker critical of President Rodrigo Duterte’s response to the coronavirus disease 2019 (COVID-19) pandemic. Taiwan’s Ministry of Foreign Affairs spokeswoman Joanne Ou said that foreign workers enjoy the freedom of speech in the country and their rights and interests are being protected by the country’s laws and regulations. “Taiwan is a sovereign, independent

The Department of Budget and Management (DBM) is preparing to increase the budget for the installation of the 2019 novel coronavirus acute respiratory disease (nCoV) and assistance for the Taal Volcano eruption victims, Speaker Alan Cayetano said Friday.

The Department of Budget and Management (DBM) is preparing to increase the budget for the installation of the 2019 novel coronavirus acute respiratory disease (nCoV) and assistance for the Taal Volcano eruption victims, Speaker Alan Cayetano said Friday. Cayetano, in a statement, said he had obtained such assurance from DBM Chief Wendel Avisado at their meeting. Quezon Representatives Angelina Tan and Albay Rep. Joey Salceda are seeking an additional P2-billion