AIRBNB said Tuesday, Feb. 14, 2023, it enjoyed a record 2022, including its first annual profit, and it continues to see strong demand for travel carryover into the new year despite economic uncertainty and high inflation. The San Francisco-based company said it earned US$319 million in the fourth quarter, up from $55 million a year […]
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Charter change not a priority for Marcos but lawmakers to continue discussions
PRESIDENT Ferdinand R. Marcos, Jr. cast aside the urgency of changing the 1987 Constitution, saying it is not a priority of his administration as some lawmakers push for amendments to supposedly allow more foreign investments. “We can achieve what we want, but within the present constitutional [framework,] the way the Constitution is written,” the president […]
Bigger role for MSMEs urged as FDI flows into larger companies
By Beatriz Marie D. Cruz MICRO, small, and medium enterprises (MSMEs) can survive within an “ecosystem” making them part of a broader supply chain as larger companies take in more foreign direct investment (FDI), economists said. “The big fish can thrive with the small fish in a healthy ecosystem where they can exist symbiotically,” Ser […]
Cabaero: More benefits for ex-presidents vs. competing priorities
The bill to grant more privileges to former presidents will benefit them when it becomes law but former Presidents Joseph Estrada, Gloria Macapagal-Arroyo and Rodrigo Duterte have been silent about the proposal. I wonder what they’ll say about the bill filed by Sens. Bong Go, Mark Villar, Ronald dela Rosa and Francis Tolentino, and if […]
Weekly COVID cases in Philippines over 1,000
THE PHILIPPINES continued to post more than a thousand weekly coronavirus infections, with 145 daily cases on average on Jan. 30 to Feb. 5, according to the Department of Health (DoH). There were 1,012 COVID-19 cases in the past week, it said in a bulletin on Monday. The daily average from Jan. 30 to Feb. […]
Developers told hike tourism investments amid rosy outlook
A PROPERTY research firm advised local developers to increase their tourism investments, particularly in key provinces in the country, following the anticipated boom in tourism this year. In 2022, the country posted 2.65 million tourists, way higher than its target of 1.7 million. Tourism revenues reached P209 billion (US$3.8 billion) in 2022, up 2,466 percent […]
Diokno prefers better tax administration over luxury tax
By Luisa Maria Jacinta C. Jocson, Reporter The Finance chief on Friday said he would rather improve tax administration to generate more revenues than impose luxury taxes. “We will look at the proposals. Right now, I’m happy with the current tax system. It’s not perfect, it can be improved, but we will be concentrated on […]
Luxury goods tax bill reframed as 25% tax on ‘non-essentials’
THE long-awaited luxury tax measure has been billed as a tax on “non-essentials” like jewelry, high-end bags and watches, luxury cars, private jets, and upscale residential property, with the proposed rate on these items set at 25%. House Bill No. 6993, filed by Albay Rep. Jose Ma. Clemente S. Salceda, who chairs the House committee […]
US says it ‘hacked the hackers’ to bring down ransomware gang, helping 300 victims
A man types on a computer keyboard in this illustration picture taken on Feb. 28, 2013. — REUTERS/KACPER PEMPEL/FILE PHOTO WASHINGTON — The Federal Bureau of Investigation (FBI) on Thursday revealed it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting […]
Job portal names top jobs, industries
ONLINE job platform JobStreet by SEEK revealed the list of top 10 roles, specializations and industries that are in demand and hiring this year. Based on the firm’s latest database, the top 10 specializations are customer service, finance/cost accounting, information technology/customer-software, clerical/administrative support, human resources, marketing/business development, education, sales-retail/general, banking/financial services and sales-corporate. Additionally, the […]
Limpag: Wanted, more girls in football
Last year was a landmark year for women’s football in the Philippines as the senior team achieved a series of first — qualifying for the World Cup, winning its first Southeast Asian Games gold medal and winning its first major trophy in the AFF women’s tournament in July. The team also went on a series […]
House panel estimates luxury tax will generate P12.4B a year
THE House Committee on Ways and Means said it expects its proposed luxury tax to raise at least P12.4 billion a year. “I’m looking at a short list of additional items… Basically, the aim is to find some way to tax the rich consistent with the constitutional principle of progressivity in taxation. For now, my […]
Senate bill to revive 2007 law on ‘holiday economics’
A SENATOR has filed a bill that seeks to boost local tourism by setting national holidays that fall on a weekend to the following Monday. “The increase in the number of long weekends can help reduce stress, prevent burnout and promote work-life balance for both employees and students by allowing them to decompress and spend […]
Low-cost housing industry grapples with issues of affordability, efficiency
THE bottom line in providing low-cost housing is affordability, with Habitat for Humanity Philippines citing the wide gap between the pricing of affordable units and what the typical buyer can afford. “The national and local governments, private, non-governmental organizations and contractors (must collaborate)” to produce an outcome where, “instead of one family covering the P855,000 […]
Congress still studying revenue-generating potential of luxury goods
THE House committee on ways and means intends to pass a luxury-tax bill and is evaluating which luxury goods have the greatest potential for generating revenue, its chairman said. “The committee will definitely pass a measure expanding (the list of taxable luxuries), but we will discuss which items can generate the most revenue for the […]
Australia’s natural disasters bill hits $3.5 billion in 2022, billions more to come
SYDNEY — Floods and natural disasters that hit all but one Australian state and territory in 2022 cost the economy A$5 billion ($3.48 billion) and stoked inflation according to Treasury estimates which forecast billions more spending in 2023. Australia suffered four major bouts of flooding last year, with global reinsurer Munich Re estimating that February […]
The Good, the Middling, and the Ugly of 2022
OKAY, as Tuco once put it “when you have to shoot, shoot; don’t talk.” THE GOOD 17. Barbarian — Zach Cregger puts it best: he didn’t like the way the film was going — predictably — so he threw in a sudden left turn. It works; the pic is worth a look mainly for the […]
Marcos orders DoJ to decongest jails by freeing more prisoners
PHILIPPINE President Ferdinand R. Marcos, Jr. has ordered the Department of Justice (DoJ) to release more prisoners as part of efforts to decongest the country’s jails, according to the presidential palace. Mr. Marcos also backed a DoJ plan to transfer hardened criminals to an Alcatraz-type prison to stop them from committing more crimes while in […]
Elcogen AS: MOU with Korea Shipbuilding and Offshore Engineering and Fraunhofer Institute for Ceramic Technologies and Systems
TALLINN, EE, Jan 9, 2023 – (ACN Newswire via SEAPRWire.com) – Elcogen, the European manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity, is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with Korea Shipbuilding and Offshore Engineering (“KSOE”), a member of Hyundai Heavy Industries Group (“HHI Group”), […]
Beauty, skincare firm to expand production capacity amid robust demand
LILOAN-BASED GTCosmetics Manufacturing Inc. is eyeing to expand its manufacturing facility as demand for its beauty and skin care products increases. It will also expand its product line to include baby and hair care products. “As more people are going out and people are putting the pandemic behind them, we have seen an increase in […]