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Makati City
Thursday, July 13, 2017
President Duterte wants to allow foreign investors to own up to 70 percent of telecommunication firms and all public utilities, according to the National Economic and Development Authority (Neda), and this will probably be reflected in the updated Regular Foreign Investment Negative List (RFINL) due in August. Socioeconomic Planning Secretary...
Jovee Marie N. dela Cruz  & Rea Cu   The Department of Finance (DOF) will start implementing the tax-stamps scheme for alcoholic beverages early next year. The assurance was made by Finance Secretary Carlos G. Dominguez III after a lawmaker criticized the Bureau of Internal Revenue (BIR) for failing to implement it....
Agriculture Secretary Emmanuel F. Piñol—with concern and discontent written all over his face—shared to the media on Wednesday that, of his proposed P213-billion budget for 2018, only P36.4 billion has been approved by the Department of Budget and Management (DBM), thus far. This is even lower than what the Department...
THE Department of Tourism (DOT) will be crowdsourcing its advertisements and TV commercials (TVCs) this year, as it hopes to put out more innovative and original promotion materials. In an interview with the BusinessMirror, Katherine De Castro, tourism undersecretary for the Office of Public Affairs, Communications and Special Projects said,...
When you manage a team, you can’t ensure that everyone will get along. Given competing interests, needs and agendas, you might even have people who vehemently disagree. What’s your role in a situation like this? Ideally, you can coach your colleagues to talk to each other and resolve their conflict...
The National Economic and Development Authority (Neda) is open to the proposal to impose season-based tariffs on rice to discourage more rice imports during harvest season. Socioeconomic Planning Secretary Ernesto M. Pernia said economic managers will discuss this proposal during their next meeting. Pernia made the pronouncement after Finance Secretary Carlos G. Dominguez...
The Senate is eyeing remedial legislation mandating stricter reportorial requirements to plug loopholes in the value-added tax (VAT), a major source of revenue used to bankroll various government projects, Sen.  Juan Edgardo M. Angara affirmed on Wednesday. “Let us zero in on those abusing it,” said Angara, Senate Ways and Means Committee chairman, referring...
Conclusion DECADES ago an actor got into trouble after suggesting that, instead of discipline, bicycles are required for the country’s progress: “Sa ikauunlad ng bayan, bisikleta ang kailangan.” Decades later, the Commission on Filipinos Overseas (CFO) offers this recipe to address the social costs of migration: counseling. The aim of this counseling...
Senators have expressed concern over the five-year martial-law option floated by Speaker Pantaleon D. Alvarez, even as Senate leaders left the door open for a possible extension of the 60-day martial rule imposed by President Duterte to crush Maute terrorists in Marawi City when it expires on July 22. Senate President Aquilino L. Pimentel III pointed out that any proposal to extend the martial-law...
They’re still coming in droves—but no longer buying in spades. After propping up sales for overseas retailers over the past decade with a shopping-driven tourism agenda, Chinese visitors are no longer returning home with suitcases bulging like before. A new survey by consultancy Oliver Wyman shows Chinese tourist numbers and holiday expenditure...
The Board of Investments (BOI) and the Department of Finance (DOF) are starting to chip away at the sticking points that will likely emerge in the efforts to harmonize fiscal incentives, which will be the main feature of the second tranche of President Duterte’s tax-reform program. For instance, BOI Managing...
The country’s trade deficit swelled to a record-high $2.75 billion in May due to a significant increase in payments for imported capital equipment used by factories, according to the National Economic and Development Authority. Data released by the Philippine Statistics Authority (PSA) on Tuesday showed the country started posting a...
The country’s GDP likely expanded by 6.4 percent in the second quarter, slower than the 7.1 percent recorded in the same period last year, due to the absence of election spending, according to the National Economic and Development Authority (Neda). Socioeconomic Planning Secretary Ernesto M. Pernia told reporters in a...
The Philippines and other Asean countries would be able to cut poverty faster if they would cut tariffs on rice and eliminate trade barriers, according to the latest  study released by the Organisation for Economic Co-operation and  Development (OECD). In its recent study, titled “OECD-FAO Agricultural Outlook 2017-2026”, the OECD...
TO fortify the Duterte administration’s aggressive infrastructure development, the Department of Public Works and Highways (DPWH) and the Department of Energy (DOE) inked on Monday a joint circular to ease right-of-way (ROW) acquisitions. The joint circular, according to Public Works Secretary Mark A. Villar, aims to provide a standard set...
A GLOBAL tourism expert called out the United States and other European countries for allowing their government bureaucracies and politicians to dictate the issuances of travel bans, thus, penalizing many destinations, especially in the developing world. At the same time, Taleb Rifai, secretary-general of the United Nations World Tourism Organization...
The Open Government Partnership (OGP) is a voluntary international initiative that aims to secure commitments from governments to their citizenry, to promote transparency, empower citizens, fight corruption and harness new technologies to strengthen governance. The Philippines is one of the eight founding countries in the OGP initiative and began...
The Philippines risks having its debt-to-GDP ratio balloon to alarming levels seen in the 1970s if the Duterte administration’s decision to use official development assistance (ODA) to finance massive infrastructure projects is not accompanied by industry growth and better revenue collection, experts said. Economists, like Dr. Rene E. Ofreneo, said borrowing funds to cover big-ticket projects was the practice in...
The Department of Trade and Industry (DTI) said Germany’s BMW Group is planning to increase its purchase of local automotive parts and is also keen on supplying electric vehicles to the Philippines. At the close of a weeklong trade and investment-promotion mission to Germany, Trade Secretary Ramon M. Lopez said...
THE Supreme Court (SC) has issued a status quo ante (SQA) order enjoining the National Grid Corp. of the Philippines (NGCP) from taking possession of a portion of the Social Security Service (SSS) property worth P1.4 billion at the Financial Center area in Pasay City. The SQA order was issued through...
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