Agri Free Patent Act to boost inclusive growth

December 19, 2018
Principally authored by Albay Rep. Joey Sarte Salceda in the House, HB 8078 was merged with Senate Bill 1454 and hurdled the legislature’s bicameral conference committee recently. It will remove major restrictions provided under Commonwealth Act No. 141 governing the land patent program, easing up certain prohibitions in granting public farmlands to qualified beneficiaries.

$4.4-B first integrated steel complex underway

December 17, 2018
A Memorandum of Understanding (MOU) was signed between HBIS Group Co.,Ltd., Huili Investment Fund Management Co.,Ltd., Steel Asia Manufacturing Corporation, and PHIVIDEC Industrial Authority that will jointly implement the Philippine Iron and Steel Project in Misamis Oriental amounting to USD 4.4 billion-worth of investments, the biggest industrial investment from China to date. The project comprises of two phases which will generate over 20,000 additional job opportunities.

Senate ratifies tax amnesty bill

December 15, 2018
The Senate on Thursday ratified the bicameral conference committee report on the bill granting a one-time opportunity to those who have failed to pay their tax obligations for taxable year 2017 and prior years -- including estate taxes, general taxes and delinquent accounts – to settle their liabilities.

Agri output boost, easier SME loan terms top biz wish list

December 10, 2018
A consolidation of the actionable recommendations submitted by the private sector in the four regional “Sulong Pilipinas” workshops conducted in Luzon, Visayas and Mindanao in November yielded proposals ranging from improving agricultural output and simplifying loan requirements for small and medium enterprises (SMEs) to enhancing peace and order measures, and stricter profiling of the government’s cash transfer or social protection beneficiaries.

Full year-inflation seen at 3.6%

December 09, 2018
The country’s inflation rate is expected to decline further below 6 percent this month and even lower to 3.6 percent next year, even if the second tranche of the oil excise tax increase pushes through, an economist of a major Philippine bank said.

Inflation slowdown ‘encouraging’ –– Espenilla

December 06, 2018
“For the first time we are seeing significant negative m-o-m (month-on-month) growth after inflation plateaued at around 6.7 percent. It confirms that inflation is heading back to the 2-4 percent target range in response to decisive non-monetary measures to curb food prices as well as favorable recent developments in highly volatile international oil prices,” he said.

Economy to grow faster in Q4

December 04, 2018
“Infrastructure and capital outlays and capital goods imports remained elevated and should drive faster growth in fourth quarter and beyond, with some support from improving exports,” investment bank First Metro Investment Corp. (FMIC) and the University of Asia & the Pacific (UA&P) said Monday in the latest issue of The Market Call.

Foreign policy shift made PH more alluring to lenders

November 23, 2018
In a briefing after the 6th Philippine-Japan High Level Joint Committee on Infrastructure Development and Economic Cooperation meeting at the Philippine International Convention Center (PICC) Wednesday night, Finance Secretary Carlos Dominguez III said, “many countries around the world are paying attention to the Philippines primarily because President (Rodrigo) Duterte has refocused our entire foreign policy.”

Mislatel confirmed as 3rd telco

November 20, 2018
Furthermore, the consortium was given ninety days to submit related documents including: congressional approval of its franchise; registration from the Securities and Exchange Commission; approval of the Philippine Competition Commission of its bidding agreement implementation; posting of the performance security bond and its rollout plan for the entire commitment period for the processing of its Certificate of Public Convenience and Necessity (CPCN) by the NTC.

Taxation fix on financial, capital markets

November 15, 2018
A ranking official of the Department of Finance (DOF) stressed that Package 4 of the proposed tax reform program is primarily intended to fix taxation on the financial and capital markets, and funding the government's “Build, Build, Build” program is only a secondary consideration.

House keen on passing tax reform Package 4

November 15, 2018
Speaker Gloria Macapagal-Arroyo on Tuesday said the House of Representatives intends to pass the fourth comprehensive tax reform program (CTRP), which is a measure on reforms of financial taxes, under the Duterte administration.