LAPU-LAPU City Mayor Junard “Ahong” Chan will call for an executive session with the stakeholders concerning the proposal of the Mactan Electric Company Inc. (Meco) to increase its power rates as well as impose rotating brownouts in March this year. Chan told SunStar Cebu Wednesday, Feb. 1, 2023 that he will call for a session […]
Tag: increase
Meco: Brace for power outages in Mactan, higher electric bills
AN INCREASE in generation charge, as well as rotating brownouts, awaits consumers of power distributor Mactan Electric in March. The generation charge pertains to the charges for the production of electricity. Engineer Gilbert Pagobo, senior vice president and general manager of Mactan Electric Company Inc. (Meco), announced on Tuesday, Jan. 31, 2023, that from the […]
Bantayan growers raise egg prices
POULTRY owners in Bantayan Island have increased the prices of their eggs due to the increase in prices of feeds they purchased from Cebu City. Alan Pastoril, president of the Bantayan Island Layer and Hog Raiser Association Inc. (BILHRA), told SunStar Cebu Wednesday, Jan. 25, 2023, that this is the main reason they imposed another […]
Qs7: What happens after Cebu City Council’s approval of Mayor Mike Rama’s increase of real estate taxes. Business taxes spared for now but will come next. Kons Noel Wenceslao, budget and finance head, defends move anew, conceding it’s ‘unpopular but necessary.’
BEFORE the year ended on December 30, 2022, the Cebu City Sanggunian approved an increase of real estate taxes, which Mayor Michael Rama’s administration plans to fund much of its P50 billion budget for 2023. Councilor Mary Ann de los Santos had pleaded for people who own small parcels of land and are barely surviving […]
Endings and beginnings: Year-end tax reminders and tax changes in 2023
“Celebrate endings – for they precede new beginnings.” — Jonathan Lockwood Huie Here we are with two days left in 2022! For the past few weeks, most of us have been busy giving gifts and ticking off grocery lists as we finish our last-minute preparations for media noche, and coming up with resolutions for the […]
Lawmaker questions looming hike in disaster insurance
A SOLON has filed a resolution seeking to investigate an increase in insurance premium rates for catastrophes like earthquakes, floods, and typhoons that will take effect by Jan. 1, and asked the Insurance Commission (IC) to suspend its approval of the hike. AGRI Party List Rep. Wilbert T. Lee, who filed House Resolution 632 on […]
Taiwan’s China Airlines to launch direct flight from Cebu to Taipei
CHINA Airlines, Taiwan’s state-owned flag carrier, is set to launch its inaugural direct flight from Cebu to Taipei on Dec. 1, as the carrier eyes a rebound in leisure demand. The four times per week flight will operate on Mondays, Tuesdays, Thursdays, and Saturdays. “Cebu will become China Airlines’ second destination in the Philippines alongside […]
Minetech Records 32% Increase in Revenue for 2Q
KUALA LUMPUR, Nov 24, 2022 – (ACN Newswire via SEAPRWire.com) – Civil engineering specialist and bituminous products manufacturer Minetech Resources Berhad today reported that the Company recorded a 31.9% rise in revenue to RM26.9 million for the second quarter ended 30 September 2022 (2Q FY2023) compared with RM20.4 million in the corresponding quarter of the […]
City dads slam ‘oppressive’ tax hike
SOME members of the Cebu City Council have raised their concerns over the proposed tax increase for 2023 which they deemed “excessive and oppressive” to the people. Lawyer Jerone Castillo, special assistant of Mayor Michael Rama for fiscal matters and special projects, was bombarded with questions from city councilors during the public hearing for the […]
Council to continue hearing on proposed tax code revision
THE Cebu City Council will continue on Monday, Nov. 21, 2022, its public hearing on the proposed ordinance that will revise the city’s tax code and prescribe new rates for business taxes and permits. Councilor Noel Wenceslao, chairman of the committee on budget and finance, told SunStar Cebu on Sunday, Nov. 20 that he cannot […]
AGTech Announces Third Quarterly Results Ended September 30, 2022
EQS Newswire / 08/11/2022 / 20:00 UTC+8 AGTech Announces Third Quarterly Results Ended September 30, 2022 (Hong Kong, November 8, 2022) – AGTech Holdings Limited (“AGTech” or the “Group”, HKEX stock code: 8279) today announced its third quarterly results for the nine months ended September 30, 2022. The indirect wholly-owned subsidiary of […]
NG debt hits record P13.52 trillion amid weak peso
THE NATIONAL GOVERNMENT’S (NG) outstanding debt hit a record P13.52 trillion as of end-September, mainly due to the weakness of the peso and higher domestic borrowings, the Bureau of the Treasury (BTr) said on Thursday. In a statement, the BTr said outstanding debt jumped 3.8% or P495.54 billion as of end-September from the then-record-high P13.02 […]
More people in Region 7 considered poor in 2021
THE number of Filipinos who are considered poor in Central Visayas has increased by almost 10 percent in 2021 due to the effects of the coronavirus disease (Covid-19) pandemic and typhoon Odette, the Philippine Statistics Authority (PSA) 7 office said on Friday, Oct. 14, 2022. PSA National Statistician and Civil Registrar General Undersecretary Dennis Mapa […]
House body swiftly OK’s Ombudsman budget
CONGRESSMEN on Thursday swiftly approved the Office of the Ombudsman’s P4.78-billion budget for next year. The House of Representatives committee on appropriations approved the 1.5% increase, citing the office’s fiscal autonomy under the Constitution. Under the budget, P3.05 billion will go to personnel services, P1.43 billion to maintenance and other operating expenses and P230 million […]
ICTSI Subic deploys more equipment to boost productivity
LISTED port operator International Container Terminal Services, Inc. (ICTSI) announced on Wednesday that its Subic Bay International Terminal Corp. (SBITC) is deploying more equipment to boost its landside operations. SBITC is now deploying additional rubber-tired gantries (RTGs) to improve its productivity, in line with the growth prospects of North and Central Luzon, ICTSI said in […]
WIKA Books Sales of Rp7.18 Trillion in Q2-2022
JAKARTA, Sep 2, 2022 – (ACN Newswire via SEAPRWire.com) – PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] successfully booked a gross profit of Rp627.24 billion in Q2-2022 or 14.8% higher on a year-on-year basis (YoY) as recorded in the financial statement for the period ended on 30 June 2022. This figure was supported by the […]
Feed-dependent industries urge more budget support for yellow corn production
INDUSTRIES dependent on animal feed called on the government to raise its budget allocation for raising corn output, saying corn scarcity will have a follow-on effect on meat, fish, and poultry prices. “There should be more funding for yellow corn production as it is the main ingredient for the feed of our main protein sources […]
Global-Estate’s earnings surge 33% to P405M; hotels lead growth
GLOBAL-ESTATE Resorts, Inc. (GERI) posted a 33.2% increase in its attributable net income of P404.55 million in the second quarter as most of its business segments recorded higher revenues. Revenues surged by 41.5% to P1.74 billion for the April-June period from P1.23 billion in the same period last year, its quarterly financial report filed with […]
AGTech Announces Interim Results Ended June 30, 2022, with revenue of HK $133 million, up 71% year on year
EQS Newswire / 09/08/2022 / 10:00 UTC+8 AGTech Announces Interim Results Ended June 30, 2022, with revenue of HK $133 million, up 71% year on year (Hong Kong, August 8, 2022) – AGTech Holdings Limited (“AGTech” or the “Group”, HKEX stock code:8279) today announced its interim results for the six months ended June […]
San Miguel income up 24% to P33B on volume growth
SAN MIGUEL Corp. (SMC) reported a 24% increase in its recurring consolidated net income in the first half to P32.5 billion driven by topline gains across its businesses. “Overall, it’s been a very challenging period, with geopolitical conflict resulting in uncertainties and serious supply and cost issues that are affecting industries all over the world,” […]