The Philippine off-shoring and outsourcing sector stands to benefit from the US economic slump, as tough times push American firms to look for ways to cut operating expenses, local executives said Thursday.
In a forum conducted by the Business Processing Association of the Philippines and Outsource2Philippines Inc., ICT Group Asia-Pacific President Karen Batungbacal said the global [...]

The country’s two largest banks, Metropolitan Bank and Trust Co. and Banco de Oro, said yesterday they were setting aside provisions totaling $94.7 million to cover their exposure to the Lehman Brothers’ collapse.
“Due to the uncertainty relating to the financial condition of Lehman Brothers, Banco de Oro Unibank Inc. is setting aside provisions totaling P3.8 [...]

MUMBAI & BANGALORE: The catastrophic events overtaking global financial majors will dent the revenues of Indian outsourcing majors, both in terms of the expected business and contracts they have already undertaken.
Number one software services vendor, Tata Consultancy Services, is likely to be worse off than its peers because of its significant exposure to Merrill Lynch [...]

SAGAY CITY, Philippines—Senator Mar Roxas on Thursday said he would conduct a Senate inquiry into complaints lodged against the Bureau of Internal Revenue for taxing the produce of sugar cooperatives.
The sugar cooperatives earlier disclosed that the BIR imposed a 12 percent value-added tax (VAT), paid in advance, on the 60 percent of the cooperatives’ total [...]