Tag: business

APEC economies urged to provide more diversified financial instruments for small, medium businesses

The 21 member economies of the Asia-Pacific Economic Cooperation (APEC) have been urged to provide diversified financial instruments that would suit the changing needs of micro, small, and medium enterprises (MSMEs) in the region. Chair of the APEC Business Advisory Council (ABAC), Doris Magsaysay-Ho, on Tuesday said broadening the range of financing instruments available to MSMEs is key to achieving financial inclusion and will help these enterprises expand their businesses. Ho, who is also the […]

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HSBC to shed up to 50,000 jobs

(Reuters) HSBC will shed almost 50,000 jobs and take an ax to its investment bank, cutting the assets of Europe’s biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The bank said on Tuesday (June 9) about half the staff cuts will come from the sale of businesses in Brazil and Turkey. The other half will come from cutting about 10 percent of the remaining 233,000 staff by consolidating […]

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Geographical Indications: Taking the most out of Trade Preferences

Since December 2014, The Philippines is a beneficiary of the European Union’s special incentive arrangement for sustainable development and good governance (‘GSP+’), providing trade preferences to over 6,000 products, including processed fruit and foodstuffs, coconut oil, footwear, fish and garments. GSP+ can benefit in particular agricultural exports where many tariffs are now zero percent. Geographical indications (GI) – signs used to identify a product as originating in the territory of a particular country, region or […]

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PH Businesses Explore Opportunities in Myanmar

DFA – The Philippine Chamber of Commerce and Industry-National Capital Region (PCCI-NCR), headed by Philippines-Myanmar Business Council Chairman Ruy Moreno, and PCCI-NCR Vice-President and Agriman Enterprises President Danilo Sanchez, undertook an exploratory mission to Myanmar from February 22 to 25. The seven-member business delegation met Philippine Ambassador to Myanmar Alex G. Chua on February 23. Mr. Sanchez said the exploratory mission in Myanmar aims to look for possible business opportunities for Philippine Small and Medium […]

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Inflation slows anew to 4.3 percent in Oct 2014; price increase for food slows down

MANILA, Philippines (Eagle News Service) — For second consecutive month, price increases for food slowed down pulling down the inflation rate to 4.3 percent this October, according to the National Economic and Development Authority (NEDA). Food inflation recorded a 7.2 percent year-on-year growth in October 2014 compared to the previous month’s 7.8 percent. “Ample supply of meat, fish, and vegetable items in the market and easing of commodity prices helped reduce price pressures,” said Economic […]

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Samsung halts business with Chinese supplier over child labor fears

SEOUL Sun Jul 13, 2014 11:30pm EDT (Reuters) – Samsung Electronics Co Ltd said on Monday it had suspended business with a Chinese supplier it suspected of employing child labor, less than a week after a U.S. watchdog report accused the supplier of using under-aged workers. The South Korean smartphone maker said it found an “illegal hiring process” at Dongguan Shinyang Electronics Co Ltd, which supplies mobile phone covers and parts. Dongguan Shinyang Electronics could […]

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U.S. jobs data seen reinforcing strong growth outlook

(Reuters) – U.S. employment growth is expected to have continued at a solid clip in June, which would further dispel fears about the economy’s health and underscore its momentum heading into the second half of 2014. Nonfarm payrolls probably increased by 212,000 jobs after rising by 217,000 in May, according to a Reuters poll of economists. It would be the first time since the technology boom in the late 1990s that employment had grown above […]

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