Business

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The Court of Appeals (CA) has affirmed the legality of Globe Telecom and PLDT’s purchase of San Miguel’s telecommunication assets, dealing blow to an anti-trust body’s bid to review the multi-billion peso deal. A 54-page decision penned by Associate Justice Ramon Bato and concurred with by fellow associate justices Manuel…

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A multimillion-dollar grant has been pledged by the Asian Development Bank (ADB) to help rebuild Marawi City, a senior Finance department official said. “[T]hey (the ADB) pledged a $5.225-million grant for needs assessment of Marawi’s rehabilitation,” Finance Assistant Secretary Maria Edita Tan told reporters. The National Economic and Development Authority…

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ECONOMISTS expect inflation to settle at 3.1 percent this year, slightly lower than the Bangko Sentral ng Pilipinas’ (BSP) full-year estimate of 3.2 percent. “Analysts noted possible upside risks to inflation such as volatile global oil prices, weaker peso, initial implementation of the comprehensive tax reform program, government spending on…

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The National Privacy Commission (NPC) expects online stock broker COL Financial Group, Inc. to submit a detailed report on a data breach that may have compromised client accounts. “The commission shall be expecting to receive from COL Financial a full report on the incident within five days. This will aid…

SHARES OUTLOOK FOR THE WEEK:

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PROFIT-taking is likely to persist this week as investors await developments that could stoke buying sentiment in the stock market, analysts said. “I think the market will still continue to profit-take and consolidate … It’s better for the market to take a rest before any major run up,” First Grade…

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Banks that habitually fail to submit their reportorial requirements on time will face stricter monetary and non-monetary sanctions next year, the Bangko Sentral ng Pilipinas (BSP) said. The banks’ responsibility for the generation and timely submission of required reports to the BSP will be subject to provisions of Section X184…

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ARE drivers of public utility vehicles (PUV) and their operators paying taxes religiously? If they are, then forget about this piece. If they’re not, the Bureau of Internal Revenue (BIR) should go after them. If the PUV drivers are already included in the tax coverage, the BIR must be doing…

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Revisions to the Public-Private Partnership (PPP) program are expected to fund a sizeable portion of the Duterte government’s ambitious “Build Build Build” infrastructure program. In a statement, Albay Rep. Joey Salceda of Albay said approval of House Bill (HB) 788 would enable the government to fund up to P6.3 trillion…

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Organizational psychologist Adam Grant said at a joint event organized by the TED Institute and IBM late last year that there are three kinds of people you are likely to find in your workplace: the takers, the givers and the matchers. Takers are always looking out for what others can…

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