Restaurants continue to operate in limited capacity amid the lockdown. -- PHILIPPINE STAR/ MICHAEL VARCASBy Beatrice M. Laforga, Reporter THE PHILIPPINE economy likely grew at a much slower pace in the third quarter compared with the previous three months, after the Delta-driven surge in coronavirus cases prompted a stricter lockdown in the capital region. Rajiv Biswas, chief economist for Asia ...
COURTESY OF CONTACT CENTER ASSOCIATION OF THE PHILIPPINES THE PHILIPPINE Economic Zone Authority (PEZA) on Monday said it has asked the Finance and Trade departments to allow information technology-business process outsourcing (IT-BPO) companies to implement work-from-home (WFH) operations that are equivalent up to 90% of their total revenues. This comes after the Fiscal Incentives Review Board (FIRB) released guidelines allowing ...
DPWH HANDOUT DISRUPTIONS caused by the coronavirus disease 2019 (COVID-19) pandemic has slowed down the implementation of 59 ongoing programs and projects funded by official development assistance (ODA), the National Economic and Development Authority (NEDA) reported. In its ODA Portfolio Review Report for 2020 released on Monday, the NEDA said the country's outstanding ODA portfolio jumped 46.6% to $30.7 billion ...
Free COVID-19 vaccines were the top support given by companies to regular employees. -- COMPANY HANDOUTNEARLY ALL businesses provided support for their workers despite the economic challenges brought by the coronavirus disease 2019 (COVID-19) pandemic, according to a survey among business groups. The survey showed 99% of the 200 respondents said their companies extended some form of support for their ...
ABOITIZ Equity Ventures, Inc. (AEV) is planning to sell a 25.01% stake in subsidiary Aboitiz Power Corp. to Japan-based JERA Co., Inc. for around $1.463 billion to help fund the listed holding firm's growth plans and boost its energy arm's initiatives. "This transaction unlocks significant capital that will be used toward fueling the AEV Group's growth initiatives," AEV President and ...
PHILSTOCKS Financial, Inc. revised its year-end target for the benchmark Philippine Stock Exchange index (PSEi), which the brokerage now expects to range within 7,150 to 7,680 by yearend. The updated year-end target is lower than the 7,150 to 7,750 target it set in February as the country continues to grapple with the effects of the coronavirus disease 2019 (COVID-19) pandemic, ...
POWER Sector Assets Liabilities and Management Corp. (PSALM) has named seven firms that have expressed interest in bidding for the operation and maintenance service contract (OMSC) of the 165-megawatt (MW) Casecnan hydroelectric power plant. In a statement on Monday, the state-run entity said the prospective bidders that attended PSALM's pre-bid conference for the facility on Sept. 24 are: SN Aboitiz ...
1 of 2 A MUSICAL comedy about a struggling musician, a drama on the difficult realities of immigration, and a detective-style documentary about a Spanish painter's missing skull are a few stories included in this year's PELICULA Spanish Film Festival, which will be held online for a second year. The online film festival will run from Oct. 1 to 10 ...
PHILSTAR THE Senate has approved on third and final reading proposed measures seeking to grant water concessionaires Manila Water Co., Inc. and Maynilad Water Services, Inc. a 25-year franchise. House Bill No. 9422 and 9423 received a unanimous approval from the chamber, allowing the concessionaires to establish, operate and maintain a waterworks system, and sewerage and sanitation services in their ...
Philippine Airlines (PAL) planes are seen parked on tarmac in Manila International Airport in Pasay city, Sept. 9, 2014. -- REUTERS/ROMEO RANOCO/FILE PHOTO PAL Holdings, Inc., the holding company of Philippine Airlines, announced on Monday that its board of directors had approved an increase in its authorized capital stock to P30 billion. "Please be advised that at the meeting of ...