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...
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 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...
By Cai U. Ordinario & Jovee Marie N. dela Cruz Not just the lives but even the livelihood of poor Filipinos, particularly those depending on agriculture exports to Europe, are at stake once the bill reinstating the death penalty is passed, economists said. They are concerned that reviving the capital punishment could...
The Duterte administration is expanding the list of manufacturing activities that would enjoy fiscal perks in its three-year incentives plan to bolster the competitiveness of local industries. The Investment Priorities Plan (IPP) 2017-2019 is also expected to bring changes not just in the country’s manufacturing sector, but also in the...
By Ma. Stella F. Arnaldo / Special to the BusinessMirror CHIEF executives of private companies, lawmakers and members of the diplomatic community in Manila attended Monday’s Governor’s Ball, a side event of the Miss Universe beauty pageant, to raise funds for a humanitarian cause. BusinessMirror sources said the VIPs paid anywhere from...
PARTIES involved in the construction of the long-delayed common station for the Light Rail Transit (LRT) Line 1, the Metro Rail Transit (MRT) Line 3 and the future MRT Line 7 have agreed to make “passenger comfort” as the main consideration in the crafting of the memorandum of agreement...
The Philippines will convene its respective joint commissions with Russia and China in the first half of 2017, underscoring the Duterte administration’s pivot for enhanced economic and trade relations with these two countries. Trade Undersecretary Ceferino S. Rodolfo told reporters on Tuesday the Philippines-Russia Joint Commission on Trade and Economic Cooperation (JCTEC)...
By Catherine N. Pillas  & Jovee Marie N. dela Cruz   The apparent rush to approve the bill reinstating the death penalty in Congress could cost the Philippines its special trade privileges from the European Union (EU) under the Generalized Scheme of Preferences Plus (EU-GSP+). This is because an EU monitoring...
The House of Representatives approved twin measures on Monday, allowing the Social Security System (SSS) to increase the monthly contribution of its members and to increase the monthly pension of SSS pensioners. Voting 227-7-1, lawmakers approved House Bill 2158, or “An Act Rationalizing and Expanding the Powers and Duties of...

South China Sea Watch

BAD CHOICE OF WORDS? In comments that could raise the stakes in the South China Sea, Donald J. Trump’s choice for secretary of state said the US should stop Beijing from constructing artificial islands and deny it access to them. “We’re going to have to send China a clear signal that,...
The Department of Trade and Industry (DTI) said it intends to refile a bill amending Republic Act (RA) 7394, or the Consumer Act, which may include provisions on stiffer penalties for violations, in the 17th Congress. The DTI said the amendment of RA 7394 is just one of the legislative...
SENATORS are wary over President Duterte’s disclosure made over the weekend about exercising his option to run the country under martial law if the administration’s bloody anti-drug war becomes “really virulent”. While Senate President Aquilino L. Pimentel III said “there was nothing to worry about,” Sen. Leila de M. Lima...