BSP chief weighs latest peso performance

MANILA – – Should Filipinos be worried about the current weakness of the peso against the US dollar? Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. has the answer. Espenilla says there was nothing to worry about the latest performance of the local currency. “It’s actually just reflecting market conditions and underlying fundamentals. … Read More

P285-B railway projects up for NEDA board nod

MANILA — Two railway projects worth PHP285 billion are lined up for approval by the National Economic and Development Authority (NEDA) board chaired by President Rodrigo Duterte. The NEDA identified these projects as the PHP134-billion Philippine National Railways (PNR) South Commuter Line (Tutuban-Los Banos) and the PHP151-billion PNR Long haul (Calamba-Bicol). The commuter line project … Read More

Samsung Electronics posts record-high operating profit in Q2

SEOUL — Samsung Electronics posted its record-high operating profit in the second quarter, logging a double-digit growth compared with a year earlier, the company said Friday. Preliminary figure for operating profit was 14 trillion won (USD12.1 billion) in the April-June quarter, up 72 percent from a year earlier. It surpassed the previous record high of … Read More

Microsoft to cut thousands of job, mostly outside U.S.

SAN FRANCISCO — American software giant Microsoft Corporation reportedly began Thursday sending layoff notices to employees, probably thousands of them involved in sales and marketing operations. Although media reports about reorganization at the world’s largest software publisher for personal computers, or PCs, have been around since Monday, the company headquartered in Redmond, Washington, has not … Read More

Top Chinese airline to fly via Clark starting October 18

CLARK, Pampanga — China Eastern Airlines, China’s second largest carrier by passenger numbers, will begin flights from Clark International Airport (CRK) to Shanghai’s Pudong International Airport starting this October 18. The announcement came after a successful deal between the Clark International Airport Corporation (CIAC) and China Eastern to augment the airline’s flight network and to … Read More

BPOs to continue high growth under tax reform

MANILA — The thriving business process outsourcing (BPO) sector will keep its global competitiveness in the export market despite the implementation of a progressive tax reform program because, contrary to the apprehension of certain industry stakeholders, the foreign services of BPO companies in special economic zones (SEZs) will remain exempted from the value-added tax (VAT), … Read More