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  • Antitrust watchdog fines Grab P16 million over Uber deal

    October 17, 2018 2:58 AM 5

    Following a third-party review, the Philippine Competition Commission slaps Grab with a fine of P12 million and Uber with P4 million for causing 'undue difficulties' to the review he country's antitrust watchdog, imposed P16-million worth of penalties on ride-hailing giant Grab Philippines for failing to maintain operations before it acquired Uber. Following

  • Top UK audit firm to monitor Grab pricing, service quality

    October 10, 2018 1:36 AM 7

    Philippine Competition Commission chief Arsenio Balisacan says Smith & Williamson 'will serve as our eyes and ears on the ground' COMPLIANCE. The Philippine Competition Commission selects Smith & Williamson to monitor Grab's compliance to pricing and service quality commitments. MANILA, Philippines – The Philippine Competition Commission (PCC) has chosen

  • Starbucks coffee will now cost you more

    October 2, 2018 7:51 AM 5

    MANILA, Philippines – Coffee giant Starbucks Philippines will be raising its beverage prices starting this week. In a statement on Tuesday, October 2, Starbucks said that the 3 to 8 percent price hike is part of a periodic increase by the company. "We periodically evaluate pricing to balance our need to run the business profitably while providing maximum

  • Jollibee in London shows PH businesses can go global – envoy

    September 28, 2018 11:30 PM 5

    The Philippine embassy says Jollibee, the first Philippine fast food chain to expand to the United Kingdom, is 'blazing the trail for other Philippine businesses' MANILA, Philippines – The opening of the first Jollibee store in London shows that Filipino businesses can compete across the globe, said Philippine Ambassador to the UK Antonio Manuel Lagdameo

  • Lucio Tan to merge PNB, PNB Savings Bank

    September 28, 2018 10:10 AM 11

    The banks, once merged would have an asset base of P932.7 billion MANILA, Philippines – Lucio Tan is merging the Philippine National Bank (PNB) with the PNB Savings Bank to strengthen the Tan group's consumer lending business. Tan disclosed to the Philippine Stock Exchange on Friday,September 28, that PNB's board of directors approved the acquisition

  • Typhoon Ompong may have pushed September 2018 inflation to over 7%

    September 28, 2018 9:24 AM 13

    The Bangko Sentral ng Pilipinas cites higher prices of agricultural goods due to Typhoon Ompong, rising fuel prices, and the weakening peso "Higher domestic petroleum prices, higher prices of rice and other agricultural commodities due to Typhoon Ompong, and the peso depreciation contributed to the upside price pressures for the month," the BSP said. "Looking

  • London to taste Jollibee's Chickenjoy starting October 20

    September 26, 2018 5:08 AM 9

    Jollibee will open its first London branch in the district of Earl's Court, a central hub of the Filipino community there MANILA, Philippines – Filipinos living in London will soon taste a familiar treat, as Jollibee Foods Corporation announced it will be opening the doors of its first store there on October 20. In a tweet on Wednesday, September 26, Jollibee

  • Philippine peso dips to fresh 13-year low, bloodbath at PSE

    September 25, 2018 2:26 PM 10

    The Philippine peso closes at P54.31 against the US dollar on Tuesday, September 25 MANILA, Philippines – The Philippine peso continued to weaken, closing at P54.31 against the United States dollar on Tuesday, September 25. The local currency was weaker from the P54.23 closing level on Monday, September 24. Tuesday's level was also the weakest since

  • Supreme Court rules BIR can't collect P3-B tax from Petron, Shell

    September 19, 2018 6:17 AM 15

    Dubbed as the tax refund scam of the 1990s, Petron and Shell win big in the Supreme Court A TCC is a company's claim for tax credits, granted either to companies that manufacture exports or companies with tax refunds. The TCC can be used in lieu of paying taxes. uncovered a fraud in the 1990s, involing companies that illegally transferred TCCs to another

  • Philippine peso to hit P58 vs $1, inflation to jump – Capital Economics

    September 17, 2018 3:42 AM 9

    MANILA, Philippines – London-based research firm Capital Economics sees the Philippine peso sinking further to P55 against the greenback this year and fall to P58 in 2019. In a report released last Friday, September 14, Capital Economics said that they expected the peso to slide due to a wider trade deficit aggravated by the government’s infrastructure