Business

Philippine Airlines is planning a major restructuring of its activities, which supposedly involves running to court to request compensation from paying creditors and holding the airline afloat. The declaration of Dominguez was accompanied by that of PAL, which said that a comprehensive plan for recovery and restructuring is ongoing, all but suggesting plans to seek court involvement. Strictly speaking, after …

It seems that digital companies based in the United States (US) that operate in several countries including Indonesia, such as streaming services Netflix, social media Facebook, digital music streaming Spotify, also giant e-commerce Amazon, cannot yet be charged digital tax in the near future. This was stated by Minister of Finance Sri Mulyani who said that Indonesia and the major …

MANILA – Megawide Construction Corporation, the developer of both Clark and Mactan-Cebu airports bags the proposal to rehabilitate the Ninoy Aquino International Airport (NAIA). The new contractor together with India-based GMR Infrastructure Limited (Megawide-GMR) has been officially given the onsortium the original proponent status (OPS) for the development of NAIA. Megawide GMR also built the passenger terminals of the Clark …

MANILA – San Miguel Corporation (SMC) and the Department of Public Works and Highways (DPWH) has officially opened the final section of Tarlac-Pangasinan-La Union Expressway (TPLEX). The 89.21-kilometer TPLEX aims to speed up travel to and from Northern Luzon. The final section is an 11-kilometer segment that will reduced the travel time from Metro Manila-to-Baguio to just 3 1/2hrs from …

KUALA LUMPUR – Former prime minister Najib Abdul Razak was allowed by the High Court to attend Parliament this afternoon and deliver his speech there. High Court judge Justice Collin Lawrence Sequerah allowed trial over 1Malaysia Development Berhad (1MDB) funds to end early and just decided to sit through the customary lunch break after receiving a letter from the Dewan …

KUALA LUMPUR – CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) has announced two new digital solutions for customers and small and medium enterprises (SMEs) to improve accesibility to the company’s offering. The two online solutions includes an online-to-branch application process for individual banking customers and the Biz Financing Portal for small and medium enterpises (SMEs) In a statement, …

The Indonesian Cinema Entrepreneurs Association (GPBSI) asked the government not to collect entertainment tax for the next year to support their efforts to rise amid the Covid-19 pandemic. “It can be agreed in all regions, that in the 1-year entertainment tax should not be collected first. In my opinion, it is like that. That is what we hope for,” GPBSI …

MANILA – Speaker Alan Peter Cayetano on Monday said that it was the owners of the ABS-CBN are to blame for the network’s shutdown. According to his Facebook post, It wasn’t the government’s fault but rather the network’s owners he described as “oligarchs” and has avoided billions of funds that can supposedly benefit the country by skirting the law. Cayetano …

MANILA – The Philippine Stock Exchange (PSE) on Monday has suspended the ABS-CBN Corp trading of shares to give time to the network to inform investors on how the denial of franchise renewal application could affect the company’s business moving forward. The PSE said in an advisory that the local bourse have suspended the Philippine Depositary Receipts (PDRs) of the …

MANILA – With the franchise renewal application of ABS-CBN denied by the House of Representative, Vice President Leni Robredo urged the public to remember the names of the representatives who voted against the renewal and hold them accountable. [A] Pahayag ni Vice President Leni Robredo ukol sa pagbasura ng Kamara sa franchise renewal ng ABS-CBNFull text here: https://t.co/BH8ZRQklor pic.twitter.com/0fySxewzE5— Leni …