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Business

Silicon Valley idealism at odds with China market

SAN FRANCISCO (AFP) - Google workers' outrage over the notion of censoring searches to appease Chinese officials highlights the dilemma US tech companies face in accessing the lucrative market. Using technology to make the world better is a well-worn mantra…

Senate watching inflation, TRAIN cushion effect

Senator Sherwin Gatchalian floated plans to suspend the second tranche of excise tax under the Tax Reform for Acceleration and Inclusion (TRAIN) law if the hike in inflation rate continues in the fourth quarter of the year. But for the…

‘Hacky hack hack': Australia teen breaches Apple's secure network

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SYDNEY (AFP) - A schoolboy who "dreamed" of working for Apple hacked the firm's computer systems, Australian media has reported, although the tech giant said Friday no customer data was compromised. The Children's Court of Victoria was told the teenager…

Oil price hikes, policy tightening slowing growth

An economist from IHS Markit on Thursday said rising world crude prices and the Bangko Sentral ng Pilipinas' (BSP) tightening of monetary policy are slowing down the country’s economic growth. IHS Markit Asia Pacific Chief Economist Rajiv Biswas made the…

‘Cash-based’ budget to cut underspending

The Development Budget Coordination Committee (DBCC) on Tuesday presented to the Senate finance committee the proposed PHP3.757-trillion national budget for 2019, the third budget of the Duterte administration and the first “cash-based budget” of the government. The proposed 2019 National…

Cushions to inflation surge needed

Albay Representative Joey Salceda on Monday said he anticipates that surging inflation is likely to persist until yearend, and that the administration's economic managers should implement aggressive measures to cushion its effects. Salceda, an economic analyst, said July inflation is…

Palace ‘saddened’ by CA ruling vs PLDT workers

Malacañang on Monday said it was “saddened” by the decision of the Court of Appeals (CA) to halt the order of the Department of Labor and Employment (DoLE), directing Philippine Long Distance Telephone Company (PLDT) to regularize 7,344 workers hired…

Apple reaches new landmark with $1 trillion valuation

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NEW YORK (AFP) - Apple -- the culture-changing company behind the iPod, iPhone and iPad -- hit another milestone on Thursday, becoming the first private-sector company to surpass $1 trillion in market value.Shares of Apple finished the formal Wall Street…

Gov't lost P178.5-B in tax perks in 2016

The government lost P178.56 billion in potential revenues in 2016 as a result of tax incentives given out to only 3,102 firms registered with various investment promotion agencies (IPAs), the Department of Finance (DOF) revealed in a statement on Thursday.…

Enough RRR cuts this year––Espenilla

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. says the 200 basis point cut in banks' reserve requirement ratio (RRR) is enough for the year. Espenilla made the pronouncement despite the forecasts of some analysts that said otherwise.…

Tax reform 2 OK by yearend eyed

President Rodrigo Duterte on Monday urged lawmakers to approve tax reform measures as he called on all sectors not to prevent their implementation since they would ensure that jobs would be made available to Filipinos. In his third State of…

SMEs get big TRAIN tax breaks

Small and medium enterprises (SMEs) received tax breaks amounting to billions of pesos for the first six months of 2018 alone under the Tax Reform for Acceleration and Inclusion (TRAIN) Act as they are now covered by a higher value-added…

H1 vehicle sales down 13%

The combined vehicle sales of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) member firms in the January to June period declined by 12.7 percent this year to 171,352 units from 195,772 units in…

FMIC keeps 2018 growth projection at 7%-7.5%

First Metro Investments Corporation (FMIC) officials remained bullish about the Philippine economy despite rising inflation, keeping its 2018 growth projection between 7 to 7.5 percent. This optimism is reportedly due to expectations of strong domestic demand, government infrastructure spending and…

‘Speculation’ driving food prices up

Department of Agriculture (DA) Secretary Emmanuel Piñol on Wednesday assured that the government is addressing the high prices of commodities in the market, as he downplayed speculations that the uptick is due to the imposition of the tax reform law.…
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