PAGCOR commits to expanding support for SCBPOs to boost local job creation; local stocks climb following new regulations, while peso weakens vs dollar
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NewsTranscript
00:00PagCor reaffirms its support for the BPO sector, which plays a key role in job creation.
00:07Meanwhile, local stocks saw a rise following new regulations, while the peso weakened slightly
00:12against the dollar, as our Floyd Brens tells us more.
00:19The Philippine Amusement and Gaming Corporation, or PagCor, pledged continued support for the
00:23country's Special Class Business Process Outsourcing, or SCBPO, companies which contribute
00:30significantly to job creation.
00:32PagCor CEO Alejandro Tenco highlighted the role of SCBPOs in providing outsourced services
00:38for foreign gaming companies, while ensuring they do not engage in gaming operations.
00:44SCBPOs employ nearly 5,000 Filipinos and are mandated to hire at least 95% of their workforce
00:51locally.
00:52PagCor is committed to further expanding the sector to generate more job opportunities
00:57for Filipinos.
00:59Meanwhile, local stock rose on Tuesday after the signing of the Implementing Rules and
01:04Regulations, or IRR, for the Create More Act and despite the peso weakening against dollar.
01:10The Philippine Stock Exchange Index gained 1.69% to close at more than 6 million, with
01:16property-leading sectors up to 3.3%.
01:20The peso ended at 58.15 to the dollar, down slightly from 58.03, with trading volume rising
01:27to US$1.67 billion.
01:30Floyd Brentz, from the National TV Network, for a new and better Philippines.