MANILA: Philippine Long Distance Telephone Co’s profit fell 33 percent in the second quarter as the nation’s largest phone carrier booked losses for its investment in Germany-based Rocket Internet SE and as earnings from its mobile-phone, data and landline businesses were little changed. Net income was 6.25 billion pesos (US$133 million) in the three months that ended in June, compared with 9.34 billion pesos a year ago, the company said yesterday in a statement. The carrier also said it would cut its dividend payout to 60 percent of core income from 75 percent to compensate for an increase in spending.
Imported phones taxed at 54%, locally assembled devices at 25%, NA committee told
ISLAMABAD: The National Assembly Standing Committee on Finance has raised concerns over the high tax burden on mobile phones and...
