FINANCIAL INSTITUTIONS in the Philippines have a “medium” risk of exposure to activity related to money-laundering and terrorist financing, according to a risk assessment conducted by the Bangko Sentral ng Pilipinas (BSP). “The wide array of financial products and services, size of transactions, as well as the growing physical and digital network or delivery channels […]
Category: Hot News
Revisiting the Tax Sparing rule
In 1974, legislators recognized the importance of attracting foreign investment and provided a reduced tax rate for dividends received by non-resident foreign corporations (NRFCs) from domestic corporations. Instead of the regular corporate income tax rate of 30%, a 15% rate was imposed on dividends received. This was subject to the condition that the country in […]
Philippines inks deal for 20 million Moderna vaccine doses
The Philippine government and the private sector have sealed an agreement with Moderna, Inc. for 20 million doses of its coronavirus vaccine, according to the presidential palace, making it the country’s largest vaccine supply deal to date. The government secured 13 million doses of the Moderna vaccine, while private firms led by International Container Terminal […]
BSP, DoF support bill giving PDIC flexibility to adjust deposit insurance limits
The Bangko Sentral ng Pilipinas (BSP) and the Department of Finance (DoF) expressed support for a Senate bill that gives the Philippine Development Insurance Corp. (PDIC) the flexibility to adjust the maximum deposit insurance coverage, depending on current economic indicators. The Senate Committee on Banks, Financial Institutions and Currencies on Friday began its hearings on […]
Gov’t eyes online registration for national ID
The government is looking to allow online registration for the national ID within the second quarter, amid tighter restriction measures as the number of coronavirus infections continue to surge. The Presidential Communications Operations Office (PCOO) in an online ceremony said they are looking to allow online registration for demographic information. Currently, this process is done […]
Current account swings to $13-B surplus
The country’s current account swung to a $13 billion surplus last year, the highest since at least 2005. Data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed the current account posted a surplus of $12.979 billion, which is equivalent to 3.6% of the country’s gross domestic product (GDP). This is a turnaround […]
Restrictions back for leisure, travel as PHL records highest daily tally at 7,103
THE Health department on Friday reported 7,103 new cases of the coronavirus disease 2019 (COVID-19), the highest daily tally since the start of the pandemic. “Recorded today is the highest number of COVID-19 cases which is why the DoH (Department of Health) continuously calls for everyone to stay in our homes and avoid going out […]
WHO official says ‘vaccine optimism’ a factor in health protocol complacency
THE World Health Organization’s (WHO) top official in the Philippines said “vaccine optimism” has contributed to complacency in following minimum health protocols, which is seen as a factor in the renewed surge of coronavirus cases in the past two weeks. The country’s coronavirus disease 2019 (COVID-19) innoculation program was rolled out on March 1, starting […]
Russia’s Sputnik V vaccine gets emergency use approval; available AstraZeneca doses allocated to medical workers
PHILIPPINE authorities have approved Russia’s Sputnik V coronavirus vaccine, the fourth to be allowed for emergency use in the country. The potential benefits of the vaccine developed by the Gamaleya Institute in Moscow “outweigh” its potential risks as seen in a late-stage trial, making it qualified for urgent use in the country, Food and Drug […]
SWS poll: Majority of Filipinos find it ‘dangerous’ to publish content critical of gov’t
MORE than half of Filipinos believe that publishing anything critical of the administration of President Rodrigo Duterte is dangerous, according to the latest Social Weather Stations (SWS) survey. Based on a set of in-person interviews that involved 1,500 adults, 65% agreed that it was dangerous to “publish or broadcast anything critical of the administration, even […]
UN expert urges Congress to prioritize law protecting human rights defenders
UNITED Nations (UN) Special Rapporteur on the situation of human rights defenders Mary Lawlor called on the Philippine Congress on Thursday to prioritize the passage of a measure that will protect human rights defenders. “Enacting legislation at the national level is an important means by which States can recognise the work of human rights defenders […]
DENR seeks extension of Boracay task force for another year
THE Environment department has asked President Rodrigo R. Duterte to extend the term of the Boracay Inter-Agency Task Force (BIATF) for one more year. In a press release on Friday, the Department of Environment and Natural Resources said the BIATF submitted a signed resolution to the President asking for the extension. Environment Secretary Roy A. […]
Nomadland is Disney’s first Best-Picture front-runner in years
NOMADLAND began as a series for Harper’s magazine, and that’s all author Jessica Bruder was thinking it ever would be. But eventually her work interviewing dozens of Americans who choose to live in campers and travel from state to state chasing seasonal jobs turned into a book. Now a film version — with its stark […]
Citicore unit taps China’s Xian Electric for 19.7-MW hydro plant in Isabela
RENEWABLE energy firm Citicore Power, Inc. said on Thursday that its unit Rio Norte Hydropower Corp. signed an agreement with Chinese engineering firm Xian Electric Engineering Co. Ltd. to build the former’s 19.7-megawatt (MW) run-of-river hydro project in Isabela province. In a press release, Citicore said its top officials — Chairman Edgar B. Saavedra and […]
A headbanging good time
By Michelle Anne P. Soliman, Reporter Music ReviewPoster Girl (2021)By Zara LarssonEpic Records and TEN Music Group ON Mar. 5, pop singer Zara Larsson released a new album which had been in the works for three years. After a year dealing with the pandemic, Poster Girl deserves a spot on your 2021 playlist. Swedish singer-songwriter […]
DMCI starts construction of P10.5-B water reclamation facility
DMCIHOLDINGS.COM D.M. CONSUNJI, Inc. (DMCI) has started the construction of the P10.5-billion Caloocan-Malabon-Navotas water reclamation facility project of west zone concessionaire Maynilad Water Services, Inc. In a statement on Thursday, the construction firm said the facility is capable of treating 205 million liters of wastewater daily and is projected to begin operations by the third […]
A very special episode: how TV shows can be powerful tools for public health
We all know what we should do. We should eat well and exercise. But then there’s ice cream and alcohol and the couch … But what if watching TV could actually be good for you — if your favorite TV show could inspire and support you to be healthier? In 2012, on 90210 (a reboot […]
Converge targets soft launch in Mindanao in April
BW FILE PHOTO LISTED Converge ICT Solutions, Inc. said on Thursday that it plans to soft-launch fixed broadband services in Mindanao next month. “For Mindanao, Converge will have a soft launch slated next month. We will update you on this once details are available,” the company said in a statement to BusinessWorld via phone message, […]
Enticing travelers back with promos and sales
AFTER the big hit from the lockdowns and travel bans caused by the ongoing COVID-19 pandemic, local tourism players are hoping that discounts and promos will be able to lure travelers back. Cebu Pacific, which is celebrating its 25th anniversary, is holding seat sales for local and foreign destinations while Cebu’s private sector is launching […]
AbaCore to acquire Libertad Logistics
THE board of directors of AbaCore Capital Holdings, Inc. approved on Wednesday the acquisition of Libertad Logistics Integrated Zone Builders Development Corp. through a merger or consolidation via a tax-free exchange. According to AbaCore’s disclosure to the exchange on Thursday, the company was able to acquire via merger or consolidation Libertad and its property at […]