Tag: business

PHL loses over P300 billion in yearly revenues from corporate taxes, perks

  https://www.youtube.com/watch?v=BZWTXT8pD2Q (Eagle News) –The Department of Finance (DOF) said Thursday the government loses more than P300 billion annually from the implementation of income tax holidays and other incentives being enjoyed by big corporations. This, according to Finance Undersecretary Karl Kendrick T. Chua,  means there is a need for the rationalization of incentives for investors under the second tax reform package that  the DOF will submit to Congress before the end of January. Based on […]

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Tokyo opens lower after US stocks see the first drop of 2018

TOKYO, Japan (AFP) — Tokyo stocks opened lower on Thursday after Wall Street fell for the first time in 2018 the previous day, while a strong yen weighed on sentiment. The benchmark Nikkei 225 index fell 0.58 percent or 137.89 points to 23,650.31 in early trade while the broader Topix index opened down 0.49 percent or 9.18 points at 1,882.93. “Investors are cashing in on the recent gains after watching a decline on Wall Street,” […]

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Toyota, Mazda to build joint US plant in Alabama

NEW YORK, United States (AFP) — Japanese automakers Toyota and Mazda announced Wednesday they will build their $1.6 billion joint US manufacturing plant in Huntsville, Alabama. In August, the companies revealed their plans for the factory, which will eventually employ up to 4,000 people. Production at the plant of vehicles for the US market is expected to begin in 2021. They also plan to jointly develop technologies for electric vehicles. “Welcome to sweet home Alabama,” […]

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Magandang epekto ng TRAIN law sa mga empleyado, mararamdaman na sa Enero 15 – BIR

(Eagle News) — Mararamdaman na sa Lunes, Enero 15, ang magandang epekto umano ng Tax Reform for Acceleration and Inclusion (TRAIN) sa mga empleyado ng gobyerno at ng mga pribadong kumpanya. Ito ang tiniyak ng Bureau of Internal Revenue (BIR) matapos ipag-utos sa ilalim ng TRAIN ang pagbaba ng  personal income tax ng mga ito. Ayon kay BIR assistant commissioner Marissa Cabreros, zero o wala nang tax na ikakaltas sa mga sumusuweldo ng Php 20,000 […]

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Quicksilver owner to acquire Billabong in major sportswear merger

NEW YORK, United States (AFP) — US company Boardriders, which owns the Quicksilver brand, has signed an agreement to acquire Australian rival Billabong, merging two major names in sportswear, the firms announced. “The combination of Boardriders and Billabong will create the world’s leading action sports company,” Boardriders said in a statement. The two companies, which are well-established in the worlds of skiing, surfing and skateboarding, will together have 630 retail stores in 28 countries and […]

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Ekonomiya ng PHL ngayong 2018, lalago ng 7.5 % – FMIC, UA&P report

MANILA, Philippines (Eagle News) — Lalago umano ng 7.5 percent ang ekonomiya ng Pilipinas ngayong taong 2018, dahil sa fiscal spending sa imprastraktura. Ayon ito sa First Metro Investment Corporation at University of Asia and the Pacific. Paliwanag ni UA & P Economist Victor Abola, ang pangunahing factor sa paglago ng ekonomiya ng bansa ay ang massive infrastructure spending program. Plano ng gobyero na gumastos ng P8 trilyon para sa “golden age of infrastructure” sa […]

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Sales of large cars remain bright spot in slowing US auto market

by John Biers Agence France-Presse NEW YORK, United States (AFP) — Automakers were on track Wednesday to report the first annual decline in US sales since the financial crisis, a dip offset by continued strength in the sales of trucks and other large vehicles. The three leaders in the US market — General Motors, Ford and Toyota — all reported modest declines Wednesday in annual sales compared with 2016, a record-setting year for the auto […]

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Tesla again delays target for ramping up Model 3 output

NEW YORK, United States (AFP) — Tesla Motors on Wednesday again pushed back the time-frame for ramping up production of the closely-watched Model 3 vehicle, its sedan aimed at the middle market. The electric carmaker said it now expects to hit a Model 3 production level of 5,000 per week by the end of the second quarter instead of at the end of the first quarter. The first-quarter target was itself a prolongation of an […]

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Asia markets begin 2018 on a high, led by rally in Hong Kong

HONG KONG, China (AFP) — Asian stocks mostly opened the year with gains on Tuesday as traders drift back to work after the festive break, with Hong Kong the standout performer, though the dollar faced fresh pressure from most other currencies. Regional investors shrugged off dips in New York on the last day of 2017, instead building on the healthy advances fuelled by strong data, improving corporate profits and hopes Donald Trump’s tax cuts will […]

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Hyundai shipbuilding stocks plunge on grim earnings forecast

SEOUL, South Korea (AFP) — Shares in Hyundai Heavy Industries plunged by nearly a third on Wednesday after the world’s largest shipbuilder by sales announced a plan to issue new stocks in a bid to shore up its ailing finances. The South Korean firm has struggled amid an industry-wide slump in recent years, as global demand slowed and competition from China intensified while overcapacity slashed prices. Hyundai announced on Tuesday the plan to raise 1.3 […]

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After tax reform law, Drilon asks fellow senators to consider giving fiscal incentives to business enterprises

QUEZON CITY, Philippines (Eagle News) — Senator Franklin Drilon is asking his fellow senators to consider giving fiscal incentives to business enterprises as said entities will bear most of the impact of the new Tax Reform Law. Drilon reasoned that many businesses will be affected by the new law, especially with its provisions increasing taxes on gasoline, electricity and tobacco products. Such taxes could be passed on by businesses to consumers and, according to Drilon, […]

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Japanese business confidence hits 11-year high: survey

TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers is at an 11-year high, a key central bank survey showed Friday, as the world’s number-three economy picks up pace. The Bank of Japan’s Tankan report — a quarterly survey of more than 10,000 companies — showed a reading of 25 among major manufacturers in its December survey, the highest since its December 2006 poll. The report, the broadest indicator of how Japan Inc is faring, […]

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