Japan’s Abe says world economy in ‘once-in-a-century crisis’
Men wearing a face mask to help curb the spread of the coronavirus take a rest in Tokyo Thursday, May 14, 2020. Japan is still under a coronavirus state of…
Hotel buffets on the chopping block in post-coronavirus travel
Hotel buffets could become a casualty of the guest experience when travel resumes. Image: Istock.com/GoodLifeStudio via AFP Relaxnews Contactless check-in and reduced breakfast buffets are among some of the new…
Economic team dangles 25 percent corporate tax in COVID-19 recovery package
The Philippines’ corporate income tax rate—Asean’s highest, currently at 30 percent—can slide to 25 percent during a one-time, big-time reduction planned in July if Congress will heed the economic team’s…
PH war chest vs COVID-19 up to $16.7B, but 4th lowest per person in Southeast Asia
The Philippines’ war chest against COVID-19 inched up to $16.7 billion in May, but still lagged behind most of its Southeast Asian neighbors if spending was divided across the population,…
BIR: No more tax deadline extension as gov’t in dire need of funds
Although enhanced community quarantine (ECQ) has been extended but modified for another 15 days in COVID-19 hot spots, the Bureau of Internal Revenue (BIR) will no longer push back tax…
Eagle Cement’s Q1 profit down 25%
Eagle Cement’s factory in Bulacan Ang family-led cement manufacturer Eagle Cement Corp. saw a 25 percent year-on-year drop in first quarter net profit to P1.2 billion as construction activities were…
Buzzfeed closes news operations in Britain, Australia
SYDNEY — Groundbreaking website Buzzfeed said on Thursday that it would be shuttering part of its loss-making news operations in Britain and Australia, as it scales back global ambitions to…
China’s auto industry struggles to motor ahead post-coronavirus lockdown
Since reopening on March 11, Dongfeng Honda Automobile has restored its production capacity to the peak level of more than 3,000 cars a day. The Straits Times/Asia News Network/ELIZABETH LAW…
India unveils $265 billion coronavirus economic package
The credit line is part of a 20 trillion rupee (S$378 billion) fiscal and monetary package to support the Indian economy. PHOTO: EPA-EFE via The Straits Times/Asia News Network NEW…
JG Summit’s Q1 core profit down 19%
Cebu Pacific Gokongwei-led conglomerate JG Summit Holdings saw a 19-percent year-on-year decline in core net profit to P4.3 billion in the first quarter as coronavirus (COVID-19) pandemic caused financial hemorrhage…