Tesco has apologised to its online customers unable to get on its website as the supermarket seeks to cope with high demand for Christmas bookings. The UK’s largest retailer has had to install a queuing system online to help it to manage the demand. Some customers complained
By Beatrice M. Laforga, Reporter The Philippines is expected to experience the worst economic contraction this year among five economies of the Association of Southeast Asian Nations (ASEAN-5) after failing to contain a coronavirus pandemic that could further limit spending and investment, according to the Organization
Many are now familiar with the recent changes to the Coronavirus Job Retention Scheme (commonly referred to as the “Furlough Scheme”) but keeping track with the updated statements; guidance notes and Treasury directions issued by the Government can, for many employers, be a difficult task. Partner
Investments in the country’s economic zones fell by more than a quarter to P72.6 billion in the 10 months through October amid a coronavirus pandemic, according to the Philippine Economic Zone Authority (PEZA). The number of projects dropped by 45% to 248, PEZA Director-General Charito B.
By Beatrice M. Laforga, Reporter Philippine dollar reserves rose to a fresh record of $103.814 at the end of October, boosted by the central bank’s foreign exchange operations. The gross international reserves rose by 3.35% from a month earlier, based on documents sent by Bangko Sentral ng
The Philippine central bank fully awarded P60 billion short-term securities it offered on Friday due to strong liquidity. The Bangko Sentral ng Pilipinas (BSP) fully awarded the 28-day bills from tenders worth P88.9 billion, making the auction 1.48 times oversubscribed, it said in a statement posted
The House of Representatives will focus on passing at least seven of Speaker Lord Alan Q. Velasco’s priority bills, including the Coconut Levy Fund bill, the proposed National Land Use Act, and a measure outlining the restructuring of the government, the Majority Leader said Friday. "We
The government will focus on finishing mass transport, water supply, and road projects during the last two years of the government’s term, the administration’s point man for flagship projects said. "Our priorities now are the transport and mobility projects, and also the projects with respect to
AGRICULTURAL damage caused by Typhoon Ulysses (international name: Vamco) was estimated at P969.8 million o Friday, against the previous estimate of P124.3 million, according to the Department of Agriculture (DA). In a bulletin Friday afternoon, the DA said the storm caused the loss of 58,897 metric
Those aged 25-34-years-old are most likely to expect more flexibility in their typical working week in a post COVID-19 world, according to new research. Among 25-34-year-olds, 87% now expect to have input on flexible working moving forward. This is a stark contrast to the older generation
The Philippine National Bank (PNB) said net income rose in the third quarter after going largely against the grain of the industry with reduced provisioning levels during the period, though provisions during the nine months were more than six times their year- earlier levels. PNB earnings
Security Bank Corp. said net profit fell sharply in the third quarter to P1.0 billion from P2.7 billion a year earlier after it raised loan loss reserves “proactively” to P10.1 billion to account for the likely impairment of loan assets due to the pandemic. In the