Category: Hot News

THE PHILIPPINES must avoid over-regulating open-pit miners to the point of rendering their operations unviable, a government think tank said. “The most daunting task lies in finding a balance” between protecting the environment and reaping the economic benefits of mining, Ludwig John H. Pascual, a consultant with the Philippine Institute for Development Studies, said at […]

THE PHILIPPINE PESO strengthened against the dollar on Wednesday after inflation in the US continued to cool, and as investors waited for the results of the US Federal Reserve’s policy meeting. It closed at P55.94, inching up by a centavo from Tuesday’s P55.95 finish, data from the Bankers Association of the Philippines website showed. The […]

By Adrian H. Halili PHILIPPINE equities declined on Wednesday as reports of plunging foreign direct investment (FDI) in March and the US Federal Reserve’s policy meeting weighed on sentiment. The benchmark Philippine Stock Exchange index (PSEi) fell by 1.12% or 73.20 points to close at 6,434.06. The broader all-share index went down by 0.87% or […]

THE trade deficit in agricultural goods expanded 10.2% year on year to $2.81 billion in the first quarter, with plunging exports significantly outweighing a decline in imports, according to the Philippine Statistics Authority (PSA). In a report, the PSA said overall trade in agriculture — or the sum of exports and imports — fell 8.6% […]

THE National Tax Allotment (NTA) to be set aside for local government units (LGUs) in 2024 was pegged at P871.38 billion, the Department of Budget and Management (DBM) said. “The fiscal year (FY) 2024 NTA level is P51.12 billion or 6.23% higher than the FY 2023 NTA share of LGUs,” the DBM said in a […]

THE law setting up the Maharlika Investment Fund (MIF) expressly bars government pension funds and the health insurance system from investing in the sovereign wealth fund’s projects, former Senate President Franklin M. Drilon said. Mr. Drilon, who is also a former Justice Secretary, said in a statement that the law specifically bars investments by the […]

THE Department of Energy (DoE) said it will impose penalties of up to P100 million for violating the rules governing its Renewable Portfolio Standards (RPS) scheme. “This guidelines shall be liberally construed to carry out the objectives of the RE (Renewable Energy) Act and other renewable energy laws, rules and regulations, and to obtaining a […]

THE Department of Trade and Industry (DTI) said the Philippines could occupy a strong position in the game development industry, after game companies obtained export orders at a recent conference. “We are confident that with sustained initiatives to develop and promote Philippine capabilities in game development, the Philippines can position itself as a major player […]

THE Department of Agriculture (DA) said it organized a special task force to detect and contain emerging transboundary animal diseases. In a special order dated June 13, the DA said the task force will be a vehicle for strengthening collaboration between government and the private sector in managing animal diseases. The special task force will […]

THE Manila International Airport Authority (MIAA) said it expects to complete upgrades to the facilities of the Ninoy Aquino International Airport (NAIA) within three years. “We are taking steps and exploring all ways possible to achieve our deliverables based on our established priorities,” MIAA Officer-in-Charge Bryan Andersen Y. Co said in a statement. The MIAA […]

THE Department of Transportation (DoTr) needs to assign a higher priority to solicited proposals for modernizing Ninoy Aquino International Airport (NAIA), transportation experts said. In a statement on Wednesday, think tank Infrawatch’s Convenor, Terry L. Ridon, said solicited proposals are more likely to consider the public interest. “The public interest, particularly reasonable terminal fees, is […]

A FARMERS’ organization expressed support on Wednesday for a government plan to expand the role of Switzerland’s Société Générale de Surveillance SA (SGS) in curbing the smuggling of agricultural goods. In a statement, Leonardo Q. Montemayor, former Agriculture secretary and chairman of the Federation of Free Farmers, said the SGS formerly operated in the Philippines until its […]

THE coconut industry said it is seeking to build mills to process oil from white copra with money provided by the trust fund which was capitalized from coconut levy assets. “The industry should focus on updating its marketing strategies, including packaging and labeling, to avoid being left behind by competitors,” Francisco Rubio, founder and chief […]

THE Department of Environment and Natural Resources (DENR) said it is working with the Department of Energy (DoE) to come up with guidelines designed to accelerate investment in floating solar and offshore wind projects. “This is an ongoing process and although interim guidelines will shortly be released, we expect to continue the refinement towards the […]

Registered export enterprises (REEs) that have transitioned from the Income Tax Holiday (ITH) regime to the 5% Gross Income Tax (GIT) regime are generally required to change their registration status from value-added tax (VAT) to non-VAT. This is because the 5% special tax rate is in lieu of all other taxes, including VAT.  Of course, […]

PHILIPPINE SHARES barely moved on Tuesday as investors await US inflation data for April that could dictate the US Federal Reserve’s monetary policy move. The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.002% or 0.11 point to close at 6,507.26. The broader all-share index slid by 0.25% or 8.93 points to 3,467.25. “The […]

THE PESO strengthened against the dollar on Tuesday as the market looked to the US Federal Reserve’s next policy move amid an expected easing in inflation. It closed at P55.95 a dollar, up by 10 centavos from Friday’s P56.05 finish, data from the Bankers Association of the Philippines’ website showed. The currency opened at P56.09 […]

PRESIDENT Ferdinand “Bongbong” R. Marcos, Jr. wants lactating mothers and single parents to be among the beneficiaries of the social protection agency’s food stamp program, which he has approved for a pilot run with funding from multilateral and foreign government aid agencies. “The President approved the run of the pilot, which is fully funded through […]

THE NATIONAL Police Commission (Napolcom) and the Philippine National Police have filed criminal complaints against 50 cops linked to the P6.7 billion worth of drugs seized in Manila last year, according to the Department of the Interior and Local Government. At a livestreamed press conference, Interior Secretary Benjamin C. Abalos, Jr., who chairs the Napolcom, […]