COVID-19 has thrust the world into recession, which as a result akin to a domino effect, has led to rapid and accelerated change. Most notably, industries have pivoted online as we hurtle headlong into an increasingly digitalized society. In response to extended lockdowns, society has become more reliant on technology than it has ever been.
Following the latest joint guidelines from the Philippine government, all foreign nationals must have a Taxpayer Identification Number (TIN) from the Bureau of Internal Revenue in order to work in the Philippines.
Philippines: Clarifying Guidelines Issued on Work Authorization for Foreign Nationals – The Department of Labor and Employment, Department of Justice and the Bureau of Immigration have issued joint guidelines to clarify the current rules and procedures on the issuance of work authorization to foreign nationals.
Movable properties, including intangible properties such as receivables and intellectual property rights, can now be more easily used as collateral for loans under Philippine law with the enactment of Republic Act No. 11057 or the Personal Property Security Act (PPSA).
Chinese tech giant Tencent Holdings Ltd. and global investment firm KKR agreed on 4 Oct to acquire "substantial" minority stakes in Philippine technology firm Voyager Innovations that could be worth up to 175 million U.S. dollars.
Also known as digital currencies, with the best known being bitcoin, they use distributed ledgers known as block chains to track transactions. There are now hundreds in existence, as the currencies’ independence make them attractive to some users.
The Philippines’ leading airline, Cebu Pacific (PSE: CEB), expands its domestic route network and presence in Southeast Asia as it announces four new routes aimed at improving accessibility for travellers outside Metro Manila.