JUNE 5 (Eagle News) — There will be more room in the 2016 budget for new socio-economic programs because of a new budgeting approach by the Department of Budget and Management (DBM). The DBM said it has adopted the Two-Tier Budgeting Approach (2TBA) for fiscal year 2016, which resulted in the creation of budgetary space amounting to around P581 billion for expanded and new programs and projects. In a statement, the department said this was […]
Business
Aquino thanks Japan’s business leaders for investing in the Phl; pushes for further economic cooperation
JUNE 4 (Reuters) — Philippine President Benigno Aquino met with business leaders in Tokyo on Thursday (June 4) to further show the Southeast Asian country’s commitment to an amicable relationship with Japan not only by security ties but also through economic cooperation. In the early morning of the second day of his four-day visit to Japan, Aquino addressed a room full of businessmen and women and talked about the Philippines’ appreciation of Japan’s past and […]
Los Angeles City Council gives a fresh nod to $15 minimum wage
JUNE 4 (Reuters) — The Los Angeles City Council gave a second nod of approval on Wednesday (June 3) to a proposal to increase the minimum wage in the nation’s second-largest city to $15 an hour by 2020 from the current $9, but the measure must still come back for another vote, officials said. The council voted 13-1 to approve the measure, just over two weeks after a preliminary 14-1 vote in favor of the […]
US appeals court reverses part of Apple’s $930 million verdict vs Samsung
A U.S. appeals court on Monday (May 18) reversed part of the $930 million (USD) verdict that Apple Inc won in 2012 against Samsung Electronics Co Ltd, saying the iPhone maker’s trade dress could not be protected. The U.S. Court of Appeals for the Federal Circuit upheld the patent infringement violations found by the jury. But the $382 million awarded for trade dress dilution will have to be reconsidered by the lower court. Trade dress […]
Hillary and Bill Clinton earned more than $25 million for speeches since 2014
MAY 16, 2015 (Reuters) — Hillary and Bill Clinton earned over $25 million (USD) for delivering more than 100 speeches since 2014, according to financial disclosure forms released by the Clinton campaign. Hillary Clinton, the front-runner for the Democratic presidential nomination in 2016, also earned $5 million in royalties for her book, “Hard Choices,” which was released in June, according to the forms. The Clintons’ income puts them at least in the top 0.1 percent […]
Aquino meets with executives of top business organizations in Chicago, promotes Romblon marble
PRESIDENT Benigno S. Aquino III met with executives of leading business organizations in the United States during his one-day working visit in Chicago, Illinois on Wednesday (Thursday in Manila). President Aquino, accompanied by some of his key Cabinet secretaries, had a roundtable discussion with representatives of various international companies organized by the US-Association of Southeast Asian Nations (ASEAN) Business Council, US Chamber of Commerce, and the National Center for Asia-Pacific Economic Cooperation at the TransUnion Headquarters […]
Risk pooling suggested to cushion impacts of disasters in APEC region
FINANCE stakeholders in the Asia Pacific region agreed in a two-day meeting in Bacolod City to develop a vibrant microinsurance in the region as well as create a regional risk pool mechanism to reduce risk of individual countries when there are calamities. “The meeting today is an offshoot of the finance ministers’ meeting in Tagaytay. In that meeting there was a decision to develop a disaster risk finance in APEC (Asia Pacific Economic Cooperation),” Finance […]
Twitter cuts revenue forecast, shares slump
TWITTER Inc posted quarterly revenue that missed Wall Street targets and cut its full-year revenue forecast due to weak demand for its new direct response advertising, sending its shares down as much as 24 percent on Tuesday (April 28). Twitter projected 2015 revenue of $2.17 billion to $2.27 billion, compared with its earlier forecast of $2.3 billion to $2.35 billion. Analysts on average had been expecting full-year revenue of $2.37 billion. Twitter said its […]
Prices of petroleum products rise
MANILA, Philippines – Several oil companies in the country increased the price of petroleum products with more companies following suit. (Eagle News Service Jay Paul Carlos, Jericho Morales, MRFaith Bonalos)
EU says Google’s “favorable treatment over its shopping services” hurts competitors
THE European Union Competition Commissioner accused Google Inc. on Thursday (April 16, 2015) of cheating consumers and competitors by distorting Web search results to favor its own shopping service, after a five-year investigation that could change the rules for business online. EU Competition Commissioner Margrethe Vestager said the U.S. company, which dominates Internet search engine markets worldwide, had been sent a Statement of Objections – effectively a charge sheet – to which it has 10 weeks […]
IMF projects moderate, uneven world economy in 2015
THE International Monetary Fund (IMF) expects the world economy to be moderate and uneven in 2015 and a slower growth in China. The IMF projected that the global economy will expand 3.5 percent in 2015 accroding to a report made by IMF on Tuesday at its headquarters in Washington D.C.. At its news conference on Tuesday, IMF Economic Counselor Olivier Blanchard described this year’s growth as “moderate and uneven.” “The words we have used is […]
Philippines Makes Doing Business Easier
MANILA, April 15 (PIA) — The Philippines on Tuesday (April 14) unveiled reforms simplifying the process of starting a business to 6 steps and 8 days, down from the existing set-up requiring 16 steps and 34 days. The government also announced e-government initiatives for accessible and convenient online transactions for payroll-related payments to PhilHealth and Pag-IBIG, reducing the number of payments from 36 to 13 per year. In a press conference today, the Department of […]
