Thailand approves VAT for foreign digital platforms
BANGKOK — The Cabinet has approved a draft bill that will levy VAT on international digital platforms, expecting the measure to net additional annual revenue of Bt3 billion ($96 million).…
Globe, Innove sustain increase in tax payments in 2019
Globe and Innove Communications Inc.’s tax payments continue to rise for the fifth consecutive year. For fiscal year 2019, Globe paid over P20.7 billion in taxes, P3-Billion or 20% higher…
Cathay Pacific plans HK$39 billion gov’t-backed recapitalization
HONG KONG — Cathay Pacific Airways announced a recapitalization plan worth HK$39 billion led by the Hong Kong SAR government on Tuesday to help the Hong Kong-based carrier weather a…
Max’s Group unprofitable in Q1
Leading local casual dining chain Max’s Group Inc. (MGI) turned unprofitable in the first quarter due to to disruptions caused by the coronavirus (COVID-19) pandemic, prompting the group to streamline…
Elevated extreme poverty to persist through 2021: World Bank
WASHINGTON — Global economic growth could rebound next year — but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year…
Libya’s oil company says largest oil field shut down again
Fighters loyal to Libya’s UN-recognised Government of National Accord stand atop a tank in the town of Tarhuna. (AFP) CAIRO — A unit affiliated with Libya’s east-based forces that have…
Surge in data demand spares PLDT from worst COVID-19 impacts
Surging demand for online entertainment and e-commerce has shielded telco giant PLDT Inc. from the worst effects of the COVID-19 pandemic. At the company’s annual meeting on Tuesday (June 9),…
World Bank names S. Korea ‘COVID-19 safe spot’
BEIJING — The World Bank has added South Korea to the list of countries that are providing efficient emergency medical services to its employees, Seoul’s Finance Ministry said Tuesday. The…
IC shutters pre-need firm Prime Care Kaagapay Life Plan
The Insurance Commission (IC) has shuttered pre-need company Prime Care Kaagapay Life Plan Inc. for lacking enough capital to operate. In a June 8 notice to the public, Insurance Commissioner…
WB sees PH poverty worsening in COVID-19 recession
Recession in the Philippines was likely to lead to worsening poverty and a delay by two years in the country’s bid to become an upper middle class country, according to…