House banking committee approves bill amending FIST law 

A BILL proposing amendments to the Financial Institutions Strategic Transfer (FIST) Act of 2021 has cleared the House banking committee.    The committee approved House Bill No. 6773, an amendment to Republic Act No. 11523, also known as the FIST Act.   FIST authorizes the transfer of bad assets held by financial institutions to asset management companies, […]

Improved sanitation, more livelihood eyed in 16 Cebu City coastal villages

MORE livelihood opportunities and improved sanitation are being eyed by the Cebu City Government for its coastal communities in line with the Singapore-like vision of Mayor Michael Rama. Reymarr Hijara, chairman of the Coastline Management Board (CMB), told SunStar Cebu Sunday, Feb. 12, 2023, that they are crafting a coastline management plan for the city’s […]

Sugar industry calls for broad participation in import program

THE sugar industry has called on the government to admit all interested parties, including sugar producers, industrial users, and accredited traders to the proposed program to import sugar.  In a letter to the Sugar Regulatory Administration (SRA) on Feb. 6, Confederation of Sugar Producers Association, Inc. (Confed) President Aurelio Gerardo J. Valderrama, Jr. asked the […]

Mandaue City moves to use solar energy

BARANGAYS and other government offices in Mandaue City may soon have solar panels installed, boosting energy security and the supply of affordable electricity. This, as the Mandaue City Council mulls an ordinance to develop and promote renewable energy in barangays and city government facilities. City Councilor Joel Seno, who drafted the proposed law, told SunStar […]

Peso rebounds vs dollar as US data support bets of less hawkish FOMC

THE PESO rebounded against the dollar on Wednesday as slower US employment and housing data supported expectations of a less hawkish policy stance by the Federal Reserve. The local currency closed at P54.475 versus the greenback on Wednesday, appreciating by 16.5 centavos from Tuesday’s P54.64 finish, data from the Bankers Association of the Philippines’ website […]

BIR to allow more transactions via online portal in late January

THE Bureau of Internal Revenue (BIR) said it will allow taxpayers to conduct more transactions online late this month. Individuals will be permitted to update their information or applications through the online registration and update system (ORUS) starting Jan. 23, according to a memorandum circular. Through ORUS, taxpayers can update their registration information with regard […]

Marcos tells advisors he will certify E-Governance bill as urgent, backs RCEP

PRESIDENT Ferdinand R. Marcos, Jr. signaled his intent to certify as urgent a measure that will digitalize the bureaucracy to his business-sector advisors. The Palace also announced that Mr. Marcos is pushing the Senate to act on the ratification of the Regional Comprehensive Economic Partnership (RCEP) trade agreement. Mr. Marcos made his intent to certify […]