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Jollibee Foods swings to profitability in Q1 By TED CORDERO, GMA News Published May 12, 2021 12:47pm Home-grown global fast food chain Jollibee Foods Corp. (JFC) reverted to profitability in the first quarter of 2021 after suffering financial losses in the same period last year. In a disclosure to the Philippine Stock Exchange on Tuesday, JFC reported a net income of P49 million, a turnaround from a net loss of P1.952 billion in the first quarter of 2020. “Most of our businesses abroad are reaching sales at pre-pandemic level. In the month of March 2021, our sales in China, North A...

Published May 3, 2021, 5:00 PM The Department of Trade and Industry (DTI) has strongly batted for the lifting of locational investment restrictions, including business process outsourcing (BPO) operations in Metro Manila, to create more jobs, especially in the country’s capital. Trade and Industry Secretary Ramon M. Lopez said during the TGER-NERS Job Summit on Labor Day, May 1, that DTI and the Board of Investments (BOI) support the recommendations of the business sector to the review of the Investment Priorities Plan (IPP) and to remove the geographical qualifications in availing subsidie...

BusinessWorld April 30, 2021 | 12:04 am CHINA BANKING Corp. saw its net profit surge by 61% to P3.6 billion in the first quarter, buoyed by the strong growth in its core business, the bank told the stock exchange on Thursday. China Bank said its net income grew from the P2.2 billion profit it booked in the same period of 2020 on the back of strong net interest revenues and buffers and as it kept its expenses minimal. Its net profit in the first quarter translated to a return on equity of 13.4%, up from 9.2% last year, and a return on assets of 1.4%, also higher than 2020’s 0...

Philippines talks incentives at forum VYING FOR BUSINESS: The Philippines last month passed a law to lower corporate income taxes to attract more firms to invest and open manufacturing facilities there Staff writer, with CNA The Philippines highlighted new tax incentives for investing and operating in the country at the annual Philippine Investment Forum in Taipei on April 15. The forum, hosted by the Manila Economic and Cultural Office (MECO), focused on the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which was signed into l...

BusinessWorld Third of four parts Republic Act No. 11534, also known as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), is said to be the first-ever revenue-eroding tax reform package. The largest economic stimulus program in the country’s history, it provides major amendments to our tax and incentives laws with the goal of helping businesses move into post-pandemic recovery while encouraging foreign investments into the country. The law took effect on April 11, 2021. The first and second parts of this four-part article discussed the passage and goals...