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European lawmakers want to revoke Philippine trade perks over rights abuses

By Arjay L. Balinbin, Senior Reporter and Jenina P. Ibañez, Reporter The European Parliament on Thursday voted to revoke tariff perks enjoyed by Philippine products...

Gov’t to give free face masks to the public in next...

The government plans to distribute 20 million reusable face masks produced in the next two months to the country’s poorest, according to the Department...

Weak demand to keep prices stable during year-end holidays

GOODS PRICES are expected to remain stable during the year-end holidays as consumer demand remains weak, the Trade department said. “Matumal ang demand sa pangkalahatan...

SEIPI sees limited impact from US-China trade war

ELECTRONICS exporters are expecting only some negative effects from the US-China trade war, which has had very little impact on the industry so far,...

Tourism promoters hoping for realistic return from trade show

THE government’s tourism promotions arm said it is hoping to generate “realistic” revenue from its trade show in Bohol next week.

Destileria Limtuaco head makes list of top Asian women business leaders

THE head of the country’s oldest distiller has made it into the Forbes list of Asia’s top businesswomen this year.

PHL must leverage regional partners in post-pandemic era

THE PHILIPPINES will need to deftly navigate the US-China trade dispute during and after the pandemic, likely via increased regional cooperation, while also reassuring partners that its disease-containment efforts are effective, experts said.

Trade dep’t conducting EFTA market study for food, textile exports

THE Trade department is evaluating the export market for food and textiles in Switzerland and other countries within the European Free Trade Association (EFTA).

CEO confidence falls amid pandemic

MORE than half of chief executive officers (CEO) are still confident of their companies’ revenue growth over the next year, although overall confidence declined due to uncertainty brought by the pandemic, according to results of the PwC Philippines-Management Association of the Philippines survey.

Lockdown drives car sales lower in Aug.

THE automotive industry’s sales slump continues with an almost 40% decline in August after Metro Manila and nearby provinces were placed under a stricter lockdown for two weeks.

PCC readies rules on notification-exempt mergers

THE Philippine Competition Commission (PCC) will be issuing guidelines on the suspension of its review of business mergers and acquisitions with transaction values below P50 billion.

Outsourcing industry eyes new overseas markets

THE Philippine outsourcing industry is looking to tap new markets such as Singapore, Japan, Malaysia, and Sri Lanka for much-needed investments.

PCC pushes transition period for lower capital requirement for foreign retail...

THE COMPETITION regulation body is proposing a grace period for the lowering of the capitalization requirement for foreign retail investors. The Retail Trade Liberalization Act...

Metro Manila-based manufacturers of critical goods to get tax breaks

Metro Manila-based investment projects involving the manufacture of critical goods such as test kits, personal protective equipment (PPE) and medicine may now avail of...

Mindanao businesses want gov’t to resume infrastructure projects

THE Mindanao business community wants the government to restart its infrastructure projects in the region as the economy reopens.

After WFH scramble, companies seen refocusing on cybersecurity to ensure business...

CYBERSECURITY is increasingly being viewed by C-level executives as a means of ensuring business continuity during the pandemic, after the initial rush to ensure that systems were robust enough to accommodate work-from-home (WFH) arrangements, Unisys Corp. said. 

Privacy Commission warns contact tracers against collecting unnecessary information

THE National Privacy Commission (NPC) said in a statement that contact-tracing organizations must not collect unnecessary information in their forms, such as signatures.

House considering increasing DTI loan fund for small businesses

LEGISLATORS said they are considering increasing the funding for the Trade department’s loan fund to aid in the recovery of small businesses affected by the lockdown from its current proposed level of P1.5 billion.

Private sector asks gov’t to detail recovery plan

THE private sector is asking the government for a six-month plan detailing how the Philippines can bounce back from the devastating impact of the coronavirus disease 2019 (COVID-19).

Home-based lifestyle drives shift in consumption — Nielsen

PHILIPPINE consumption of fast-moving consumer goods has shifted to suit a home-based lifestyle, a report from Nielsen Holdings PLC said.

PHL notifies WTO of resin safeguard measures probe

THE Department of Trade and Industry (DTI) has notified the World Trade Organization (WTO) about its plan to look into possible safeguard measures against imports of resin products.

ARTA working with LGUs on full one-stop shop implementation

THE Anti-Red Tape Authority (ARTA) said it will work with local government units (LGUs) for a full nationwide rollout of online one-stop shops for their permits by next year, with the aim of improving the Philippines’ global innovation ranking.

Manufacturers seek tighter trade laws

MANUFACTURERS are asking the government to review trade laws to protect local industries from the influx of “cheaper and substandard” imported goods into the Philippines.

Mitsubishi Motors identifies Southeast Asia as growth driver

MITSUBISHI Motors Corp. (MMC) introduced its hybrid SUV Outlander PHEV in the Philippines as part of its plan to expand in the Southeast Asian region.

Halal industry proposed as avenue for boosting trade

THE Philippine Chamber of Commerce and Industry (PCCI) is seeking closer business relationships with its counterparts in neighbors like Malaysia to develop the domestic halal industry, touting such cooperation as a possible driver of the economic recovery.

Exports recovery may take 2 years

PHILIPPINE EXPORTS’ return to growth could be as far away as 2022 after the effects of the pandemic caused a slowdown in operations that will likely prompt the government to revise its export targets for the next few years.

DMC purchase of PLDT assets gets regulatory approval

THE Philippine Competition Commission (PCC) green-lit DMC Urban Property Developers, Inc.’s acquisition of the Makati-based office building assets of PLDT Inc.

DTI announces safeguard measures investigation into petrochemical products

THE Department of Trade and Industry (DTI) said it will look into the imposition of safeguard measures on resin products after receiving a claim from JG Summit Petrochemical Corp. (JGSPC) that it has been harmed by unfair competition from imports.

BoI investment pledges up 25% in 8 months

THE Board of Investments (BoI) said approved investment pledges increased by 25% year on year in the first eight months of 2020.

PCCI awaits improved business next quarter as restrictions ease

THE Philippine Chamber of Commerce and Industry (PCCI) anticipates improvement in economic activity and employment in the fourth quarter after some easing of lockdown restrictions.

Airlines owe P940 million in ticket refunds, travel agents say

By Jenina P. Ibañez, Reporter CASH-STRAPPED airlines owe nearly P1 billion in ticket refunds for canceled flights during the pandemic, travel agencies said. The Philippine Travel...

Philippines leaps to 50th place in global innovation index

THE Philippines moved up four spots to 50th out of 131 economies on an annual list that measures their performance in innovation, becoming one of four Asian countries with the most significant progress.

Young, short-tenured workers face more layoff risk — JobStreet

EMPLOYEES that lost their jobs during the pandemic are mostly young and short tenured, according to a job market survey issued by online work portal JobStreet.com.

Pandemic forces retailers to innovate, adapt

TIGHT consumer spending, faster e-commerce growth and the need for fast and reliable delivery amid a coronavirus pandemic has forced Philippine retailers to adapt and innovate, according to consulting firm Bain & Company.

Nationwide round-up

Educators join opposition to anti-terrorism law EDUCATORS from various public and private institutions asked the Supreme Court to declare unconstitutional the law which expanded the...

Laptop, tablet SRP scheme could be based on device memory

A SUGGESTED retail price (SRP) scheme for laptops and tablets could be based on memory capacity, though trade officials are wary of such “one-size-fits-all” criteria for imposing price ceilings on such devices, which have seen demand soar as schools shift to online lessons.

Reforms pushed to attract more FDI

THE Trade department is making a renewed push for the passage of bills that would further open up the economy to foreign direct investments (FDI), after Philippine rules on such were again deemed among the most restrictive in the world.

DTI seeking end to Brazilian poultry import restrictions

THE Trade department is asking for a ban on poultry products from Brazil to be lifted, after meat processors said such a ban could lead to food shortages.

Metro Manila mayors want status quo on quarantine level

MAYORS IN Metro Manila have recommended to extend the quarantine measures that are in effect until end-August while the national task force on the coronavirus response were still meeting as of Monday late afternoon on what will be the lockdown status of the capital starting Sept. 1.

Business registration portal to launch in Sept.

THE government’s central portal streamlining the process of establishing a business is due for public launch next month, the Anti-Red Tape Authority (ARTA) said.

South Korea free trade deal still expected before end of 2020...

FREE TRADE agreement (FTA) negotiations between the Philippines and South Korea are still due to conclude this year despite delays caused by the pandemic, the Department of Trade and Industry (DTI) said.

Coke posts worst sales during height of lockdown

COCA-COLA Beverages Philippines, Inc. posted its worst sales in the country after losing demand from restaurant and convenience store clients, which account for at least half of its revenue, amid a coronavirus lockdown.

Grant Thornton launches advisory services for retailers expanding in ASEAN

GRANT THORNTON said it has launched a service to help retail businesses relocate or expand to Southeast Asia in the wake of the pandemic and continued trade tensions between the United States and China.

RCEP trade deal signing expected by November

MOST OF the outstanding issues in a 15-country regional trade deal including Asia's largest economies have been resolved with a signing expected in November, the Department of Trade and Industry (DTI) said in a statement.

ARTA to streamline paperwork for OFWs, recruiting agencies

THE Anti-Red Tape Authority (ARTA) said it is preparing to streamline the process for deploying overseas Filipino workers (OFWs), after consulting with the agencies overseeing the current process.