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Makati City
Friday, March 24, 2017
It may be one of the smallest economies in Asia, but Vietnam is among those leading the infrastructure race. Vietnam’s public and private-sector infrastructure investment averaged 5.7 percent of GDP in recent years, the highest in Southeast Asia and compares with 6.8 percent in China, according to the Asian Development Bank...
Confusion over a law allowing foreigners to buy condominiums in Myanmar is prolonging a slowdown in its residential property sector, highlighting the challenges of regulatory flux in the frontier market. The legislation adopted in January 2016 leaves unanswered questions, such as whether it applies to existing apartments, hurting efforts to...
REAL-ESTATE developer Citystate Properties and Management Corp. (CPMC) celebrates its 10th anniversary at Sandari Batulao, a leisure and residential mountainside community it is developing in Nasugbu, Batangas. CPMC is the property development arm of the ALC Group of Companies organized by the late Ambassador Antonio L. Cabangon Chua. The group...
The National Food Authority (NFA) said on Thursday the government must import rice soon to replenish the food agency’s thinning stockpiles, and ensure there will be enough food during the lean months. NFA Administrator Jason Laureano Y. Aquino said the NFA Council (NFAC) has not yet decided on the food...
For the first time in more than two years, economists aren’t unanimous on the next interest-rate move by the Philippine central bank. With inflation pressure building and the currency under stress, bets are rising that the Bangko Sentral ng Pilipinas may be the first in Southeast Asia to tighten monetary...
Thailand’s military government is cracking down on traffic carnage, invoking special executive powers accorded by an interim constitution to force automobile drivers and all their passengers to wear seat belts. The move by Prime Minister Prayuth Chan-ocha comes ahead of next month’s celebration of the traditional Songkran New Year’s holiday,...
ABOITIZ Power Corp. is preparing to raise up to P30 billion through the issuance of fixed-rate retail bonds. The proceeds will be used to finance potential acquisitions, future investments and other general corporate requirements. “For all acquisitions, including RE ,” said AboitizPower President Antonio Moraza in a text message when asked...
THE Securities and Exchange Commission (SEC) on Thursday said it suspended the primary license of 84 lending companies that failed to obtain a secondary license, or a Certificate of Authority, to operate as a lending company. The SEC said it is the lead agency to administer the enforcement of Republic Act (RA)...
FRUIT canner Del Monte Pacific Ltd. said it will spend $70 million (around P3.5 billion) in capital expenditure (capex) when it starts its 2018 fiscal year in May, mainly to expand its business in the United States and markets in Asia. Parag Sachdeva, Del Monte CFO, said the capex is...
The Bureau of Plant Industry (BPI) on Thursday asked farmers to be on guard against the most common pests that usually attack crops, including rice, during the April-to-June period. In a memorandum order published on Thursday, BPI OIC-Director Vivencio R. Mamaril also ordered the agency’s regional directors to monitor areas...
The government will sell at least P30 billion in three-year retail Treasury bonds (RTBs) to widen participation of local investors in government securities, the Bureau of the Treasury (BTr) announced on Thursday. According to the 19th RTB notice posted in the BTr web site addressed to government securities eligible dealers...
The Insurance Commission (IC) has signed a circular letter dropping the need to submit clearances coming from the National Bureau of Investigation (NBI) and other agencies in line with the Duterte administration’s push to reduce red tape in government offices. Insurance Commissioner Dennis B. Funa said NBI and barangay clearances...

Punitive interest

Fairness is basic to a successful and equitable tax system.  The proposed tax-reform bill seeks to address many of the inequities in our Tax Code.  However, there is a basic inequity that is so oppressive to taxpayers which is not yet incorporated in any proposed bill—the simultaneous or overlap...
WHILE two groups pitching for the development of the Clark International Airport are busy fighting for their “right” as the original proponent of the unsolicited proposal, Metro Pacific Investments Corp. (MPIC) is quietly preparing for its own offer.  MPIC President Jose Ma. K. Lim said that, while his group is...
THE Department of Finance (DOF) is eyeing to establish a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to better serve the banking needs of overseas Filipino workers (OFWs) in the area, and improve the trading relationship of both nations. In a recent meeting with members of...
ATLAS Consolidated Mining and Development Corp. said it had a slightly narrower loss last year of P879 million, from the previous year’s P814 million. Excluding a P495-million, one-time provision for loss on disputed input tax credits, the company reported an underlying net loss of P384 million, a 53-percent improvement year-on-year. “The...
DUE to the enormous and growing demand for data, Philippine telecommunications companies have been spending roughly a quarter of their revenues on capital expenditures over the past few years.  Ericsson Philippines and Pacific Islands President and Country Manager Sean Gowran said from 2012 to 2015, local telecom-service providers have been...
LOCAL banking giant BDO Unibank Inc. (BDO) reached its 1,000-branch milestone nationwide this month, after the Sy-led bank opened its latest full-service outlet in Davao City. BDO Senior EVP and Head of Branch Banking Jaime Yu said reaching the milestone affirms their commitment to put up branches in viable areas—both in...
ALORICA, the largest provider of customer-experience solutions to the US market, inaugurates a brand-new $23-million (P1.154-billion) facility in Makati City, which is expected to generate 10,000 new jobs for Filipinos this year. Called the Alorica Center, the commercial-office space is fitted with workspaces to accommodate the company’s growing Philippine work...
Sandeep Mathrani, head of US shopping-center operator General Growth Properties Inc., was in Dubai when he saw something that startled him: an indoor city just for kids. In the middle of the giant Dubai Mall, he found an activity center filled with child-sized restaurants, bakeries, hospitals and police stations. The...