MANILA, Philippines — The country’s trade deficit likely widened anew in February as imports remain elevated as part of the government’s massive infrastructure program, according to British banking giant HSBC. HSBC said the trade shortfall of the Philippines may hit $3.72 billion in February, 12 percent wider than the previous month’s $3.32 billion. “We expect […]
Read MoreMANILA, Philippines — The sale of goods and services to Philippine Economic Zone Authority (PEZA) entities will remain subject to zero percent value added tax, clearing a confusion over President Duterte’s line veto of zero VAT rating on the sale of goods and services to separate customs territories under the TRAIN Law. The Philippine Exporters […]
Read MoreThe Hanoitimes – Grab stressed the combined market share in Vietnam after the acquisition of Uber`s South-east Asia business is less than 30%. “As a result, Grab understands that related parties do not have to inform the Vietnam Competition Authority before completing the transaction in Vietnam,” Grab announced on April 5. However, the ride-hailing firm was […]
Read MoreMANILA, Philippines — Economists now see inflation surpassing the four percent upper target set by the Bangko Sentral ng Pilipinas (BSP), which may prompt monetary authorities to raise interest rates as early as this quarter. Investment banks have raised their respective inflation forecasts for 2018 and 2019 after inflation leapt to a five-year high of […]
Read MoreMANILA: The Philippines’ anti-trust agency said on Saturday (Apr 7) it has ordered Uber Technologies Inc to continue domestic operations as it reviews the ride-hailing firm’s deal to sell its money-losing Southeast Asian business to rival Grab. The move puts another hurdle in the transaction, following an order by Singapore’s competition watchdog that Uber delay its shutdown by a […]
Read MoreMANILA, Philippines — IKEA will reportedly open its first store in the Philippines in 2020 that will be located at one of the country’s biggest shopping malls. IKEA Southeast Asia Managing Director Christian Rojkjaer said the global furniture retailer will build its first Manila store at SM Mall of Asia, which is operated by SM […]
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