24.4 C
Makati City
Monday, February 20, 2017
Improvements in the country’s fiscal stability, government spending and monetary stability pushed the Philippines’s so-called economic freedom up 12 notches to 58th, according to an international think tank. In its latest annual global survey, US-based think tank Heritage Foundation said the Philippines’s economic freedom improved from 70th in 2016 to...
The Department of Energy (DOE) and the Philippine Economic Zone Authority (Peza) signed a memorandum of understanding (MOU) aimed at reducing the power cost in ecozones to attract more investors. Representatives from the two government agencies signed the MOU for the accelerated development of regional economic zones, or ecozones, with...
The gap between the rich and the poor in the Philippines may have been wider in the past 25 years, according to a Washington-based think tank. In a study, Brookings Institution’s Laurence Chandy and Brina Seidel created alternative Gini coefficients for 134 countries, including the Philippines, and saw an average...
The 20-day maintenance shutdown of the Malampaya natural-gas facility in Palawan concluded on Thursday, and had resumed  providing gas to the gas plants that provide an aggregate capacity of more than 3,000 megawatts (MW) in Luzon. In an update provided by Shell Philippines Exploration BV (SPEX) to the Department of...

‘No need to amend Epira’

Sixteen years since the Electric Power Industry Reform Act of 2001 (Epira) was enacted into law, the Department of Energy (DOE) strongly believes that the law does not need to be amended. “After 16 years, the power generation is now in the majority hands of the private sector. Supply has...
The Speaker of the House of Representatives has recently filed a measure seeking to abolish the Energy Regulatory Commission (ERC). Speaker Pantaleon D. Alvarez filed House Bill 5020 amid ongoing probe on alleged irregularities and corruption in the commission. Under the bill, the Board of Energy, which shall be an attached...
The House Committee on Science and Technology has approved House Bill (HB) 4581, filed by Albay Rep. Joey S. Salceda, which aims to boost the country’s scientific innovations and inventions, research and development (R&D) toward social progress and global competitiveness. Titled Science for Change Program (S4CP) Act, with the theme...
Environmental groups on Wednesday lauded Secretary Regina Paz L. Lopez of the Department of Environment and Natural Resources (DENR) for initiating the cancellation of 75 mineral production sharing agreements (MPSAs), a move lambasted anew by the Chamber of Mines of the Philippines (COMP). The Kalikasan People’s Network for the Environment...
The manufacturing sector is the country’s top earner in 2013, generating as much as a third of the income of all business and industry sectors, according to the Philippine Statistics Authority (PSA). Based on the final results of the 2013 Annual Survey of Philippine Business and Industry (ASPBI), the manufacturing...
The Philippines will continue to push for lower seasonal tariffs on its banana exports to Japan on its forthcoming investment mission to Tokyo later this month. Trade Secretary Ramon M. Lopez said the lower tariffs on bananas will be part of the agenda in the 35th Meeting of the Philippines-Japan...
The Department of Energy (DOE) on Wednesday said Mindanao would need a total of 3,650 megawatts (MW) of additional power-generating capacity by 2021 to 2030. Based on the agency’s latest data on demand-supply outlook, 2,100 MW of the needed capacity was identified as base-load, 1,500 MW of capacity from mid-merit,...
By Ma. Stella F. Arnaldo / Special to the BusinessMirror AVIATION enthusiasts, adventure-sports practitioners, balloonists and families converged at the Clark Field in Angeles, Pampanga, over the weekend for the 21st Philippine International Hot Air Balloon Fiesta. Tourism Undersecretary for Public Affairs Katherine de Castro said at the fiesta’s opening ceremony on...
Filipinos in Germany may be far from home, but their loved ones are near to their hearts on Valentine’s Day. Money-transfer company WorldRemit analyzed remittances from Filipinos abroad, and found those in Germany were the most generous, sending home on average $32.5 more than usual around Valentine’s Day last year. Following...
The Bureau of Customs (BOC) has temporarily suspended the accreditation of 101 importers and brokers due to “questionable shipments”. Customs Commissioner Nicanor E. Faeldon on Tuesday ordered companies, including a cigarette manufacturer, to provide proof that their alleged misdeclarations were not intentional. He noted that the black-listed importers, companies and brokers...
Filipino taxpayers extended nearly a billion pesos in subsidies to real-estate firms in 2014, according to the Philippine Statistics Authority (PSA). Based on the final results of the 2014 Annual Survey of Philippine Business and Industry (ASPBI) for the real-estate sector, tax exemptions and other perks of the sector reached...
The National Grid Corp. (NGCP) on Tuesday shed light to the P0.15-per-kilowatt- hour (kWh) increase in transmission charge collected by the Manila Electric Co.  (Meralco) from its customers in their March electricity bills. Last week Meralco announced that power rates this month will shoot up by P0.92 per kWh, which...
Taking the cue from President Duterte and affirming a commitment to responsible mining, the Chamber of Mines of the Philippines (COMP) on Monday vowed to rehabilitate mined-out areas in compliance with existing mining laws. In a news statement, COMP believes that responsible mining is vital to national development and fully...
The National Power Corp. (Napocor) will energize eight new Small Power Utilities Group (SPUG) power plants that will supply electricity to around 6,000 households in Palawan. In a memorandum of agreement (MOA) signed with the local government units of Palawan, the Napocor will provide the generating sets, fuel and manpower...
The United Filipino Consumers Council (UFCC) has warned against the potential damage in case of a strong earthquake, owing to the reported proliferation of substandard construction materials. Unless stopped, Rodolfo Javellana, president of UFCC, said in a news statement issued over the weekend that the use of substandard construction materials...
Environment Secretary Regina Paz L. Lopez said she is waiting for President Duterte’s marching orders on the possible declaration of a total log ban “with no exceptions” that would possibly include forest plantations. Asked about  Duterte’s marching orders, Lopez said in a text message, “None yet. But there will be...