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Business

Joe Biden’s son Hunter stepping down from Chinese board

U.S. Vice President Joe Biden, right, and his son Hunter Biden in Sojevo, Kosovo, on Aug. 17, 2016. (Visar Kryeziu / AP) Steve Peoples, The Associated Press Published Monday, October 14, 2019 1:20PM EDT NEW YORK — Facing intense scrutiny from U.S. President Donald Trump and his Republican allies, Hunter …

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Softbank could take control of WeWork: report

A WeWork sign on a building in New York, seen on Sept. 30, 2019. (Mark Lennihan / AP) The Associated Press Published Monday, October 14, 2019 12:06PM EDT Last Updated Monday, October 14, 2019 12:15PM EDT NEW YORK — Japanese investment firm Softbank could take control of WeWork as part …

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Lufthansa to leave PH if Citira is passed

By ANNA LEAH E. GONZALES October 14, 2019 AIRCRAFT maintenance, repair and overhaul (MRO) company Lufthansa Technik Philippines seeks for the retention of duty exemptions and warns of closing operations in the Philippines if the government’s second package of tax reform will pass in its current form. “In its current …

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Biomass now open to 100% foreign stake

By JORDEENE B. LAGARE October 14, 2019 FOREIGN companies can now fully own and operate biomass power plants in the Philippines under a recently signed policy from the Department of Energy (DoE). The DoE’s newly-released omnibus guidelines for the award and administration of renewable energy (RE) contracts is intended for …

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POGOs’ tax compliance improves

By MAYVELIN U. CARABALLO, TMT October 14, 2019 The tax compliance of online gaming operators and their service providers continue to show improvements every month amid the strict enforcement activities of the government, a tax official said. The Bureau of Internal Revenue (BIR) initially reported that its preliminary income tax …

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PSE to further reduce broker shareholdings

By TYRONE JASPER C. PIAD October 14, 2019 The Philippine Stock Exchange (PSE) is set to conduct another share buy-back transaction to further decrease the shareholdings of its brokers as part of compliance. At the sidelines of a listing ceremony last week, PSE President and Chief Executive Officer Ramon Monzon …

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PSEi to take cue from US-China trade talks

By TYRONE JASPER C. PIAD October 14, 2019 The benchmark Philippine Stock Exchange index (PSEi) will still be taking cues from developments on the trade negotiations between the United States and China. “Investors are still trading on sentiment and because of this, we may not see a solid rally moving …

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Banks’ MSME lending falls short in H1 – BSP data

By MAYVELIN U. CARABALLO, TMT October 14, 2019 Banks continue to fall short of the mandated credit for micro, small and medium enterprises (MSME) sector as of the first half of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed over the weekend. A total of P552.09 billion …

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Economists who study poverty win Nobel Prize

A gold Nobel Prize medal photographed on April 17, 2015 (AP / Fernando Vergara) Paul Wiseman, Aleksandar Ljubojevic and Steve Leblanc, The Associated Press Published Monday, October 14, 2019 5:57AM EDT Last Updated Monday, October 14, 2019 2:11PM EDT STOCKHOLM — Two researchers from the Massachusetts Institute of Technology and …

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