Economy

REVITALIZING the local film industry will not only promote Filipino culture but also has the potential to bolster economic growth and reduce poverty.

A report released by the National Statistical Coordination Board (NSCB), an attached agency of the National Economic and Development Authority, said the local movie industry can create many jobs owing to the Filipinos’ penchant to watch movies.

THE Court of Appeals has upheld the right of a municipality in Pangasinan to compel the National Grid Corp. of the Philippines (NGCP) to assume the tax obligations of its predecessor, the National Transmission Corp. (NTC) amounting to P221.7 million.

In an 11-page decision written by Associate Justice Rebecca de Guia-Salvador, the CA’s Fourth Division dismissed the petition filed by NGCP seeking the issuance of a temporary restraining order (TRO) or injunction enjoining the municipality of Labrador, Pangasinan, from enforcing the warrant for distraint of its money and/or bank account with Land Bank of the Philippines, and the latter from complying with the same.           

INDIAN business-process outsourcing firm HCL Technologies Ltd. (HCL) is set to open a 500-seat facility in the Philippines that will initially employ 1,000 agents within the year.

The company’s facility will be set up in Quezon City and will operate in at least two shifts.