"siendo" is the gerund of "ser": to be. maybe it is used a lot in latinamerica as a "loan" expression of the wide used of gerund in english, but it is not very usual y iberic spanish. por ejemplo, se puede decir: "sigue siendo mi amigo"= he is still my friend, or "por ese precio sigue siendo muy caro"= this price is still too expensive. most usual is the use of the adverb "todavia/aun. ex: "todavia es mi amigo" and "ese precio todavia/aun es muy caro". the meaning of both phrases in the examples are the same and the last ones sound not vulgar. (at least in spain).

Hi this phrase in English means: "it continues being… ''