BIR, Customs collections down 24.8% in 5 months
No thanks to a COVID-19-induced recession, tax collections declined by almost a fourth year-on-year to P874.9 billion as of end-May, the Department of Finance (DOF) said on Friday. In a…
Jollibee raises $600M via bond issuance
Fast-food giant Jollibee Foods Corp. (JFC) has boosted its coronavirus (COVID-19) war chest by $600 million with the issuance of new bonds in the offshore market. Through wholly owned unit,…
Mega Global sets P500-M expansion
Mega Global Corp., the company behind Mega Sardines, is set to embark on its biggest expansion program yet, 45 years since it started operating as an exclusive family-owned business. During…
BMW to drop 6,000 jobs through turnover, early retirement
FRANKFURT, Germany — Automaker BMW says it will drop 6,000 jobs through early retirements and turnover, as the auto industry adjusts to a sharp drop in demand due to the…
BPI, BDO decry fabricated docs on Wirecard claims
BPI prexy Cezar Consing A few days ago, auditing firm Ernst & Young (EY) called on Bank of the Philippine Islands to investigate documents claiming that German fintech Wirecard had…
UK think tank warning: Exercise caution in easing COVID-19 lockdown
Countries like the Philippines, where COVID-19 cases have yet to make it past through the first wave of infections, needed to be more cautious before further easing restrictions on movement…
End-May BIR, BOC tax take dropped 24.8% to P874.9 billion – DOF
MANILA, Philippines — No thanks to a COVID-19-induced recession, tax collections dropped by almost a fourth year-on-year to P874.9 billion as of end-May, the Department of Finance (DOF) said Friday.…
PH foreign debt steady in Q1 as pandemic caps overseas borrowings
MANILA, Philippines – The outbreak of the coronavirus pandemic helped cap foreign borrowings by public and private entities in the first quarter, resulting in only a small uptick of the…
Green Cross, Inc. donates medical-grade PPEs and disinfectants
Green Cross, Inc., one of the largest producers of rubbing alcohol and bleach in the Philippines, has rolled out its “Together We Are Stronger” campaign in line with the fight…
Big groups collaborate to build new COVID-19 testing labs
Fernando Zobel de Ayala at a testing lab in QualiMed Sta. Rosa, a COVID-19 referral hospital Five of the country’s top conglomerates have added financial muscle to the Ayala group’s…