World Business Inquiries

Questioning business opportunities in a world that is currently in sharp decline due to the outbreak of the COVID-19 virus. The answer from entrepreneurs and business people is very simple. They answered, all will be beautiful in its time

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Gov’t eyes support for e-commerce boom

Gov’t eyes support for e-commerce boom

The country’s economic planners are pushing reforms in the e-commerce sector amid the boom in digital services but the government warned that increased transactions on the internet may also result in an increase in cybercrimes.

But first, the Philippines has to catch up with neighboring countries in terms of broadband penetration and digital adoption because it still has one of the slowest internet speeds in Southeast Asia although it has the most expensive pricing.

Undersecretary Rosemarie G. Edillon of the National Economic Development Authority (Neda) said these reforms can be done by opening the telco sector through amendments in the foreign investment and public service laws as well as the pending open access in data transmission bill.

Edillon said the reforms would “reduce the digital divide by lowering barriers to market entry and increase available spectrum for internet connectivity” as well as “streamline permit requirements for network deployment to reduce

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Banks extend fee waivers for digital transactions

Banks extend fee waivers for digital transactions

Clients of some of the country’s biggest banks will be able to use the services of two major digital payments channels for free until the end of the third quarter, while some financial institutions have decided to suspend these fees for the rest of the year. Thus said...

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Gov’t hikes UCPB stake, abandons privatization

Gov’t hikes UCPB stake, abandons privatization

The government has abandoned its previous plan to privatize United Coconut Planters Bank (UCPB) and instead jacked up control over the state-run lender so it can assist farmers and help ensure food security amid the COVID-19 pandemic. In a statement on Friday, the...

read more

Gov’t eyes support for e-commerce boom

The country’s economic planners are pushing reforms in the e-commerce sector amid the boom in digital services but the government warned that increased transactions on the internet may also result in an increase in cybercrimes. But first, the Philippines has to catch...

Banks extend fee waivers for digital transactions

Clients of some of the country’s biggest banks will be able to use the services of two major digital payments channels for free until the end of the third quarter, while some financial institutions have decided to suspend these fees for the rest of the year. Thus said...

Gov’t hikes UCPB stake, abandons privatization

The government has abandoned its previous plan to privatize United Coconut Planters Bank (UCPB) and instead jacked up control over the state-run lender so it can assist farmers and help ensure food security amid the COVID-19 pandemic. In a statement on Friday, the...

NGCP defers implementation of allowable revenue hike

The Energy Regulatory Commission (ERC) said National Grid Corp. of the Philippines (NGCP) had unilaterally deferred the implementation of an interim scheme that would raise its maximum allowable revenue (MAR) to P47.1 billion in 2020 from P43 billion in 2019. At a...

ECQ impact on economy ‘more severe than expected’

The Philippines is bracing for a worse-than-expected drop in gross domestic product (GDP) in the second quarter as the country’s chief economist on Friday said the COVID-19 lockdown inflicted more pain to the economy than earlier projected. But as the economy...