Keeping up with the digital economy: VAT on online transactions

The pandemic supercharged the growth of the digital economy; the implementation of community quarantines forced us to stay at home and encouraged the use of online platforms to obtain our basic needs. Many continue to heavily rely on the internet and digital services for education, work, and entertainment. There’s no denying that online transactions quickly […]

DTI backs opening nearly all firms regardless of alert level

TRADE SECRETARY Ramon M. Lopez said he supports allowing most businesses to open regardless of alert level, restricting only their capacity levels when infections surge. Speaking on ANC News Thursday, he said his proposed lockdown rule change would promote business continuity and avoid an “open-close-open” cycle of operations. “The idea is really just to reduce […]

InvestHK: HKSAR Government’s “Report on Hong Kong’s Business Environment” highlights Hong Kong’s unique advantages and unlimited opportunities

HONG KONG, Sep 30, 2021 – (ACN Newswire via SEAPRWire.com) – Invest Hong Kong (InvestHK) announced today (September 29) a series of promotions building upon the “Report on Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities” (www.hkeconomy.gov.hk/en/environment/index.htm) published this week by the Government of the Hong Kong Special Administrative Region (HKSAR). […]

DTI backs bigger role for small businesses in new trade deal with Australia, New Zealand

THE DEPARTMENT of Trade and Industry (DTI) expressed support for the inclusion of small businesses in an ASEAN-Australia and New Zealand free trade deal upgrade in recent virtual discussions by trade ministers. The DTI said representatives in the ASEAN dialogue partner consultations on Sept. 13-15 discussed the possible completion of negotiations for the ASEAN-Australia-New Zealand Free […]

Traders worry over new NCR restriction

LOCAL businesses in Cebu are bracing for an “unpredictable” fourth quarter as the country’s capital goes into Alert Level 4 under general community quarantine (GCQ) on Thursday, Sept. 16, affecting micro, small and medium businesses. According to Filipino Cebuano Business Club chairman Rey Calooy, 70 percent of the country’s economic activity comes from greater Luzon […]

Lenders vow to support MSMEs to boost recovery

BANKING GROUPS on Tuesday vowed to lend more to small businesses struggling amid a coronavirus pandemic. “The Bankers Association of the Philippines (BAP), together with its members will continue to assist micro-, small- and medium-sized enterprises (MSMEs) with their financing needs — whether through cash management services for their operations or loans that are needed for […]

FPI calls on gov’t to gather health sector experts for pandemic response, info campaign 

By Jenina P. Ibañez, Senior Reporter  THE FEDERATION of Philippine Industries, Inc. (FPI) is calling on the government to gather public health leaders and listen to their expertise experience on the country’s coronavirus response as the capital prepares for renewed lockdown measures.  FPI President Jesus L. Arranza said the Health department and the inter-agency task force on the coronavirus should organize an event with the leaders of […]

DTI’s Lopez calls for reduction of cost to shut down businesses

TRADE SECRETARY Ramon M. Lopez said that expenses related to the closure of businesses should be reduced following complaints from companies. The process for closing businesses should also be overhauled, he told One News Tuesday. The current process for companies officially closing shop include seeking clearances from local government units and the Bureau of Internal […]

NPC outlines norms for cross-border data transfer

THE NATIONAL Privacy Commission (NPC) has laid down the guidelines on cross-border data transfer standards that companies can voluntarily follow to protect customer data transferred across jurisdictions in Southeast Asia. Businesses can voluntarily adopt model contract clauses, or legally binding contracts that protect customer data. These firms can modify the clauses to align them with […]

Soriano: Your legacy is on the line

Can family-owned enterprises embrace longevity as its enduring value? There is a saying that’s anathema to family-owned businesses around the world and this validates the regeneration of 90 percent of family-owned enterprises when it struggles to reach the third generation. For businesses operating in North America, it’s ‘shirtsleeves to shirtsleeves in three generations.’ In Mexico, […]

Megawide increases capacity of ancillary businesses

By Arjay L. Balinbin, Senior Reporter MEGAWIDE Construction Corp. on Monday said it is increasing the capacity of its ancillary business units, as it aims to take advantage of the opportunities brought by the government’s ongoing “Build, Build, Build” program. “Our ancillary businesses are mainly innovative construction technologies like precast, cement batching, formworks, and construction […]

Experts urge firms to invest in tech, create resilient businesses

ENVIRONMENTAL experts have called on businesses to adopt more comprehensive risk management plans and check environmental risks in their place of business to avoid disasters in the future. This urgent call to the business sector was made during the Sustainable Development Finance (SDF) webinar on Natural Disaster Resilience organized by the Bank of the Philippine […]

PH firms’ optimism steadily sinking due to pandemic

MID-SIZED businesses are displaying reserved optimism about an economic recovery, according to the latest figures from Grant Thornton’s International Business Report which gathers responses from nearly 5,000 business leaders in 29 economies including the G20. This follows a challenging year, in which mid-sized companies saw their revenue decrease by an average of one percent globally […]

PHL business optimism falls to lowest since 2016

HALF of midsized Philippine businesses have either “a slightly or very optimistic economic outlook” for the next 12 months, the P&A Grant Thornton International Business Report showed. — REUTERS ECONOMIC OPTIMISM among Philippine midsized businesses continued to fall in the second half of 2020, as the pandemic continued to weigh heavily on the economy. The […]