Infrastructure push to aid recovery

Under the proposed P4.5-trillion national budget for 2021, the government increased the budget for infrastructure development by 41% to P1.107 trillion. — PHILIPPINE STAR/MIGUEL ANTONIO N. DE GUZMAN By Luz Wendy T. Noble, Reporter THE government’s decision to refocus its flagship infrastructure program will help the Philippine economy recover faster from the coronavirus disease 2019 […]

Outsourcing industry eyes new overseas markets

The Philippines dropped one spot to sixth in the Tholons Global Innovation Index 2020 that measures the world’s most attractive outsourcing destinations. — BLOOMBERG By Jenina P. Ibanez, Reporter THE Philippine outsourcing industry is looking to tap new markets such as Singapore, Japan, Malaysia, and Sri Lanka for much-needed investments. The sector has been touting […]

Government debt service bill declines 34% in July

BW FILE PHOTO THE National Government’s debt service bill fell by a third in July on the back of a drastic reduction in amortization payments, data from the Bureau of the Treasury (BTr) showed. Based on the latest Treasury data, the government’s debt payments reached P60.91 billion in July, down 34% from P92.46 billion paid […]

Luxury retailer SSI cuts capex to P400M

By Denise A. Valdez, Senior Reporter SPECIALTY retailer SSI Group, Inc. is cutting its 2020 capital expenditure (capex) budget by a third as it recalibrates expenses to adjust to the coronavirus pandemic. “Total capex budget for 2020 is now at P400 million from an original budget of P1.2 billion,” SSI Vice-President for Investor Relations Ma. […]

COVID-19 restrictions give Fashion Weeks a new look

A PERSON in the audience wears a mask as she attends the Dolce & Gabbana Autumn/Winter 2020 collection show during Milan Fashion Week in Milan, Italy, Feb. 23. — REUTERS IT IS FASHION Week season, but thanks to the coronavirus disease 2019 (COVID-19) pandemic, things are going to be quite different. Instead of packed shows, […]

US firm BridgeComm considers PHL entry to support 5G rollout

By Arjay L. Balinbin, Senior Reporter BRIDGECOMM, Inc., a US-based optical wireless communications solutions provider, is in talks with a Philippine telecommunications firm to provide support for the ongoing rollout of 5G connectivity in the country. “We are working with somebody — it’s not disclosed yet — for 5G,” BridgeComm Chief Executive Officer Barry Matsumori […]

SEC flags 2 unauthorized funding scheme operators

THE Securities and Exchange Commission (SEC) is advising the public to stop engaging with Mining City and Hoton Retail and Services, Inc. as these groups are operating unauthorized investment schemes. In separate advisories on its website, the corporate regulator said it received numerous reports about representatives from Mining City and Hoton soliciting investments from the […]

Hotel group offers major deals during September sale

BORACAY — HSMA.ORG.PH/SOS WHEN the lockdowns to curb the COVID-19 pandemic started in March, one of the industries which was greatly affected was the tourism industry with it the multitude of hotels and resorts located in the country’s tourist destinations. Six months since the start of the lockdowns, hotels and resorts are still not allowed […]

Tax appeals court cancels P286-million Robinsons Toys assessment

The Court of Tax Appeals — HTTP://CTA.JUDICIARY.GOV.PH/ THE Court of Tax Appeals cancelled the P286.4-million tax assessment of Robinsons Toys, Inc. for 2009. In a 30-page decision dated Sept. 2, the court’s third division set aside the Formal Letter of Demand (FLD) and the Final Decision on Disputed Assessment (FDDA) issued by the Bureau of […]

Kiehl’s extends online presence to Lazada

TWO years after entering the e-commerce space, American beauty brand Kiehl’s is now expanding its online presence by entering Lazada in a bid to introduce more customers to its products. “After successfully pioneering social commerce for the premium beauty segment in the country, we saw that there’s a bigger opportunity to tap customers outside of […]