29 C
Makati City
Friday, January 20, 2017
KUALA LUMPUR, Malaysia (AP) — Global shares were steady in cautious trading Friday ahead of the inauguration of President-elect Donald Trump. China's report that its economy grew at a 6.8 percent pace in October-December was in line with expectations. KEEPING SCORE: Germany's DAX was steady at 11,599.05. The CAC 40...
Josh Boak / AP Economics Writer WASHINGTON (AP) — Behind in the polls in late October, Donald Trump ventured to Gettysburg, Pennsylvania, to give American voters a "contract" detailing what he would achieve during his first day in office. Beneath a list of 18 major actions was the flourish of...
THE Supreme Court (SC) has declared as unconstitutional a revenue regulation (RR) issued by the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) imposing value-added tax (VAT) and excise tax on petroleum and petroleum products imported by locators of economic zones. The ruling effectively freed companies operating...
The charter of the National Food Authority (NFA), as well as laws governing the export of grains, should be amended to allow corn farmers to tap the export market, Agriculture Secretary Emmanuel F. Piñol said on Thursday. Piñol said he would make this recommendation to President Duterte during the Cabinet...
CITY OF SAN FERNANDO—Claiming that the deed was done “to safeguard the general welfare of the public” and “in good faith”, two Pampanga mayors named in the graft complaint filed earlier this week by the Philippine Drug Enforcement Agency (Pdea) at the Office of the Ombudsman aired their side. Mayors...
The Senate Committee on Ways and Means has started “consultations” on the multibillion-peso tax-reform package submitted to Congress by the Duterte administration, even as it awaits passage of the money measure by the House of Representatives. This developed as Sen. Juan Edgardo M. Angara, committee chairman, confirmed that the panel...
The National Economic and Development Authority (Neda) has pushed back the timetable for the public presentation of the Duterte administration’s socioeconomic blueprint, dubbed as the Philippine Development Plan (PDP). In a statement, the agency said the PDP 2017-2022 will be submitted to the Neda Board for approval in the second...
The House of Representatives will review the memorandum of agreement (MOA) signed by the government and private players for the common terminal linking Light Railway Transit (LRT) Line 1 and Metro Rail Transit (MRT) Lines 1 and 7. Speaker Pantaleon D. Alvarez said the MOA on the common MRT-LRT station should...
Philippine negotiators and communist guerrillas are set to resume peace talks in Rome on Thursday, with the Maoist insurgents warning that alleged government violations of an accord on human rights may prompt them to end a monthslong cease-fire. The presidential adviser to the talks, Jesus  Dureza, said the government is...
DAVAO CITY—The information chief of the Autonomous Region in Muslim Mindanao, who has been named to head the region’s Office on Bangsamoro Youth Affairs (OBYA), said the sector’s poverty makes it “vulnerable to the rise in extremism”. The ARMM said the appointment of Amir Mawallil to the Obya “comes at...
THE Iglesia Ni Cristo (INC), headed by Executive Minister  Eduardo V. Manalo, recently launched its annual theme, which the church said will guide the programs and activities it set to implement for the entire year. “We chose and agreed on the guiding principle ‘Onwards to Further Victories in the Works...
THE urban-poor alliance Kalipunan ng Damayang Mahihirap (Kadamay) has accused the National Housing Authority (NHA) and the local government of Navotas City of using the recent fire that gutted 1,200 houses to force the eviction of more residents. Kadamay noted the same scheme was used to kick out people living...
Conclusion FOR the Philippines to achieve food security, three major hurdles must be overcome: low farm productivity, low farm- mechanization level and inadequate postharvest facilities. According to the state’s draft economic blueprint, the former is caused by limited access to credit and insurance. The draft Philippine Development Plan (PDP) noted that population...
The Department of Transportation (DOTr) welcomed the year with one major snag resolved with the signing of a memorandum of agreement (MOA) among parties involved in the construction of the common station, a facility that will connect three overhead railway systems in Metro Manila. Officials from the DOTr and the...
The government has abandoned plans to ask the World Trade Organization (WTO) to extend the quantitative restriction (QR) on rice due to lack of time, the Department of Agriculture (DA) said on Wednesday. In a news briefing in Malacañang, Agriculture Secretary Emmanuel F. Piñol said the government will no longer...
With the politically sensitive provisions gone, the House Ways and Means Committee has decided to adopt the Department of Finance’s (DOF) revised bill lowering personal income tax (PIT) and the accompanying offsetting measures. House Bill (HB) 4774, titled the Tax Reform for Acceleration and Inclusion, no longer carries provisions removing...
PRESIDENT Duterte’s meeting with the country’s top businessmen on Tuesday night was so productive that it bore offers from the private sector to develop agriculture, housing, telecoms, health care and power infrastructures in Mindanao—particularly in far-flung and war-torn areas. Manuel V. Pangilinan, who chairs Metro Pacific Investments Corp., described the meeting with...
The Department of Energy (DOE) has formally declared the start of Wholesale Electricity Spot Market (WESM) operation in Mindanao by June this year. In a draft circular, the agency “declares the launch of the WESM in Mindanao grid on June 26, 2017.” Established under the Electric Power Industry Reform Act of...
More expensive masonry and plumbing materials raised the average retail prices of construction materials in Metro Manila last year, according to the Philippine Statistics Authority (PSA). The annual average growth of the Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) increased 1.3 percent in 2016, from...
The President and the country’s top businessmen found common ground on the various economic issues affecting the country during a dinner meeting on Tuesday night. In a briefing on Wednesday, Presidential Spokesman Ernesto C. Abella said the President’s meeting was arranged by Presidential Consultant for Entrepreneurship Jose Ma. Concepcion, who...