Working oil pumpjacks on the outskirts of Maricopa in Kern County, California, on September 21, 2023, where agriculture and oil are key to the region’s economy. Gas prices in California have been rising once again, well above the national average, and California Governor Gavin Newsom this week called out the …
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BIR: Small-scale online sellers exempted from withholding tax
Bureau of Internal Revenue Commissioner (BIR) Romeo Lumagui Jr. clarified that small-scale online sellers with annual transactions below half a million are exempted from the creditable withholding tax under Revenue Regulation No. 16-2023 and Revenue Memorandum Circular No. 8-2024. This is in relation to the creditable withholding tax of 1 …
Read More »Evergrande ordered to liquidate after it fails to reach restructuring deal with creditors
A Hong Kong court on Monday ordered the liquidation of property company China Evergrande Group, a move likely to send ripples through China’s crumbling financial markets as policy-makers scramble to contain the deepening crisis. World’s most indebted developer unable to reach restructuring deal with creditors. A Hong Kong court on …
Read More »Filipino startup redefines healthy snacking
KangKong King co-owners (from left) Jay Tan with wife Sheryl Tan, Anne Gaw, Frank Gaw, Andrew Tan Lee and Ben Ng during a food fair. Picky eaters may find vegetable chips unappealing to their discerning taste buds, but a group of young entrepreneurs made eating healthy taste amazingly good, proving …
Read More »X to open new office to combat child porn
This illustration photo shows the new Twitter logo rebranded as X (L) and the old Twitter bird logo reflected in smartphone screens, in Paris on July 27, 2023. (AFP/Joel Saget) SAN FRANCISCO, United States — Social media platform X, formerly Twitter, will open a moderation office in Texas with an …
Read More »Rate cut possible this year – Remolona
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. is not ruling out a policy rate cut within the year, given the moderating inflation outlook due to base effects. He also said that if the 2023 economic growth exceeds expectations, the hawkish Monetary Board, BSP’s policy-making arm, may go …
Read More »Rogers Sugar announces tentative deal in Vancouver refinery strike
140 workers, represented by the Private and Public Workers of Canada Local 8, have been striking since Sept. 28. Main issue in the strike was the company’s demand to ramp up operations to 24 hours a day year-round. Rogers Sugars has announced a tentative agreement with the union representing 140 …
Read More »Canadian energy producers dismayed by Biden’s move to pause U.S. LNG approvals
Canada’s energy industry is reacting with dismay to U.S. President Joe Biden’s move to pause approvals of new liquefied natural gas export terminals in that country. Election-year decision comes as U.S. gas shipments to Europe and Asia have soared. Canada’s energy industry is reacting with dismay to U.S. President Joe …
Read More »NGCP energizes P51.3-b project, unifies Visayas, Mindanao grids
Transmission operator National Grid Corp. of the Philippines said Friday it fully energized the P51.3-billion Mindanao-Visayas Interconnection Project (MVIP) to unify the Philippine grid. NGCP conducted a simultaneous ceremonial switch-on in Manila, Cebu and Lanao del Norte to mark the successful full energization of the MVIP, the largest investment for …
Read More »U.S. economy grows more than expected at end of 2023, driven by consumer spending
The U.S. gross domestic product grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely, despite high interest rates and inflationary price levels. GDP grew by 3.3% in fourth quarter, which is lower than earlier months but …
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