Opposition senator says proposed sovereign wealth fund counterproductive after others express reservations

AN OPPOSITION senator on Tuesday said the proposal to establish a sovereign wealth fund (SWF) is counterproductive, noting that it goes against the nation’s economic agenda.  “An SWF is meant to come from the excess funds we just don’t have, as seen by our trillions-worth of debt. We don’t need an SWF and we clearly […]

Marcos asks businesses to invest in skills training, R&D to help boost job creation

PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday asked business leaders to invest in education and skills training, and research and development (R&D) to help the government in accelerating job creation.   Mr. Marcos, speaking at the Arangkada forum organized by the Joint Foreign Chambers in the Philippines, said his administration aims to boost employment in the […]

Senator seeks mandatory insurance coverage for construction workers

A SENATOR has filed a bill requiring the provision of insurance coverage to all construction workers, with adequate indemnification for any accident that causes disability or death.  “I believe that providing our construction workers with insurance coverage will compel their employers to adopt better safety mechanisms that will ensure the safety and security of their […]

DICT secretary appeals for cybersecurity budget in confirmation hearing

THE COMMISSION on Appointments on Tuesday approved the nomination of Ivan John E. Uy as Department of Information and Communications Technology (DICT) secretary.   During the hearing, Mr. Uy said his agenda was to enhance the country’s cybersecurity preparedness and appealed for budgetary support from Congress.    “It is a very relevant issue today as we see […]

Teleperformance opens GenSan City office, Cloud Campus microsite

OUTSOURCING firm Teleperformance Philippines (TP) has launched an office in General Santos City, its 24th in the country, with a Cloud Campus microsite which supports work-from-home employees.    TP, in a statement on Tuesday, said the new site will open more jobs for residents in the city and in the neighboring province of South Cotabato.    “Teleperformance […]

SEC expands partnership with LANDBANK for more payment options

THE SECURITIES and Exchange Commission (SEC) has expanded its partnership with state-run Land Bank of the Philippines (LANDBANK) to provide more payment options for the transacting public.   In a press release on Tuesday, the regulator said that it signed on Nov. 28 a memorandum of agreement with LANDBANK, which will allow payments for SEC-related transactions […]

Japan’s MinebeaMitsumi in P4-B Cebu expansion

JAPANESE electronics manufacturer MinebeaMitsumi, Inc. is undertaking a P4-billion expansion project in Naga City, Cebu, the Department of Trade and Industry (DTI) said. In a statement on Tuesday, the DTI said that Philippine Trade and Investment Center-Tokyo Commercial Counselor Dita Angara-Mathay reported the company’s expansion proposal. According to Ms. Angara-Mathay, the Japanese firm plans to […]

Japan’s TDK hard drive equipment project worth P2.5B approved by FIRB

THE Fiscal Incentives Review Board (FIRB) on Tuesday approved the tax incentives application of TDK Philippines Corp. for a P2.5-billion manufacturing project, the Department of Finance (DoF) said. TDK proposes to make microwave-assisted magnetic recording sliders, industrial equipment used in hard drive manufacturing. The approval of the application for fiscal incentives “is a boost to […]