Category: Hot News

THE Corporate Recovery and Tax Incentives for Enterprises (CREATE) law’s incentive-rationalization component harmed exporter competitiveness and warrants a review, the electronics industry association said. “While CREATE’s reduction of corporate income tax of local companies is good, the incentives rationalization was ill-advised. With the high cost of operations (power, logistics, labor, cooling water, etc.), exporters have […]

THE Metropolitan Waterworks and Sewerage System (MWSS) said it is investigating the water service interruptions affecting some customers of Maynilad Water Services, Inc. in the South area due to maintenance at its Putatan treatment plant, which draws water from Laguna de Bay. “It’s currently being investigated. We have already asked Maynilad to submit their explanation […]

THE decline in interest payments could lead to more funding for other government programs, the Department of Finance (DoF) said. “Interest payments have been declining, freeing up fiscal resources which can be reallocated to support the government’s priority programs,” the DoF said in a statement on Tuesday. The DoF estimates that interest payments accounted for […]

THE Japanese Embassy in Manila has signed two official development assistance (ODA) agreements with the Philippines worth a total of ¥31.1 billion, or around P12 billion. “The government and people of Japan hope these ODA will expedite the enhancement of the Philippines’ stability and security,” Japanese Ambassador to the Philippines Koshikawa Kazuhiko said in a […]

THE Bureau of Internal Revenue (BIR) said it is consulting business groups to gain insights on how to streamline tax administration. “We have signed a memorandum of understanding… We seek to get these organizations’ comments, suggestions, whatever they can contribute, so we can improve our services. One of the things we want to achieve is […]

AT LEAST 5,000 fisherfolk are expected to be displaced if commercial fishing operations are allowed in municipal waters adjoining the Visayan Sea, a fisheries professor said. Citing the results of a simulation, Wilfredo L. Campos, a professor at the University of the Philippines-Visayas College of Fisheries and Ocean Sciences, said: “Let us assume there would […]

CHINA’S coast guard on Tuesday released a video of its ship spraying a water cannon at a smaller Philippine boat, saying it had handled the incident according to law. The Aug. 5 video showed the water barely hitting the makeshift Philippine boat that was trying to deliver food and other supplies to Filipino troops stationed […]

By Beatriz Marie D. Cruz, Reporter PHILIPPINE congressmen on Tuesday sought a higher defense budget for 2024 amid rising tensions with China in the South China Sea. “We must take proactive measures to enhance our defense capabilities and ensure that we have the necessary resources,” Speaker Ferdinand Martin G. Romualdez said in a statement. Next […]

THE SENATE on Monday approved on third and final reading a priority bill that seeks to institutionalize the automatic income classification of local government units. “This will improve local government units’ (LGUs) fiscal performance and allow our frontline government units to recruit skilled professionals for quality public service delivery,” Finance Secretary Benjamin E. Diokno said […]

UNITED STATES Senator Ladda Tammy Duckworth on Wednesday floated the idea to Philippine President Ferdinand R. Marcos, Jr. of sending American students to nursing schools in the Philippines to address a shortage of nursing programs in the US. During a courtesy call on Mr. Marcos Jr., the US senator also discussed the efforts of the […]

THE COURT of Tax Appeals (CTA) has stood by its decision to set aside Misamis Oriental II Rural Electric Service Cooperative, Inc.’s deficiency tax liabilities worth P24.7 million and penalties worth P87,000 for 2013.   In a 16-page decision dated Aug. 2, the CTA full court said revenue officers who audited the cooperative had not been […]

THE SUPREME COURT has upheld a Commission on Audit (CoA) ruling that disallowed additional incentives to workers of the Bureau of Fisheries and Aquatic Resources (BFAR) worth P12.28 million in 2011.   In a resolution dated Feb. 7 and made public on Aug. 3, the tribunal said the allowances violated a Budget department circular that barred […]

DIGITAL Pinoys on Tuesday opposed cross-membership of riders in motorcycle taxi companies, citing security issues and fewer slots to be given to workers.   “The first question in multi-homing is when an accident happens, who is liable?” Given that they all have their own training, which company will be liable?” Digital Pinoys National Campaigner Ronald Gustilo […]

KIDAPAWAN CITY — Investors in what police have tagged as a Ponzi scheme ransacked the stores of “Bodega ni Carina” after its collapse, with its owner allegedly now in hiding.  Village security guards and police have tried to secure several abandoned and empty branches of the store from irate customers who lost their money, police […]

THE NBA-caliber weapon is in and now it’s time for Gilas Pilipinas to fully get locked and loaded for the FIBA World Cup (WC). An upbeat Jordan Clarkson arrived early yesterday, raring to get going for the campaign that starts in less than three weeks. “Great, amazing (to be back),” the Fil-Am Utah Jazz star […]

TNT spoiled the party of hat trick-seeking Cavitex in the PBA 3×3 Season 3 First Conference, wresting the Leg 6 title via a 21-17 clincher yesterday at the Ayala Malls Trinoma. Samboy de Leon drained a clutch two-ball while Almond Vosotros drove the dagger layup and two free throws as the Triple Giga reasserted themselves […]

STOCKS ended higher on Monday as investors picked up bargains and stayed on the sidelines before the release of second quarter Philippine gross domestic product (GDP) and the July US inflation data later this week. The Philippine Stock Exchange index (PSEi) rose by 56.94 points or 0.88% to close at 6,507.78 on Monday, while the […]

THE PESO dropped to the P56-per-dollar level for the first time in almost two months on Monday on expectations of slower gross domestic product (GDP) growth in the second quarter. The local currency closed at P56.02 versus the dollar on Monday, weakening by 28 centavos from Friday’s P55.74 finish, data from the Bankers Association of […]

By Sheldeen Joy Talavera, Reporter THE PHILIPPINES imported 1.96 million metric tons (MT) of rice in the seven months to July, down 16.37% from a year earlier, the Bureau of Plant Industry (BPI) reported. The BPI said rice imports in July fell 71.26% year on year to 116,195.75 MT as of July 27. The July […]

THE poultry and livestock industries need more funding to protect them from extreme weather events, farmers said with Congress poised to review the 2024 budget proposals for agriculture. Agriculture has been allocated P181.4 billion in the proposed 2024 national budget, up 4.5% from 2023. Elias Jose M. Inciong, president of the United Broiler Raisers Association […]