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Daily Archives: July 2, 2017

Government eyes cut in VAT once reforms in place

Finance Undersecretary Karl Kendrick Chua listens during a Senate Ways and Means Committee hearing presided over by Sen. Juan Edgardo Angara.

By Luis Leoncio  The government is considering a reduction in the value added tax (VAT) currently pegged at 12 percent contrary to the government earlier proposal to raise the sales tax to 15 percent as part of revenue enhancement. 

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DOF: Higher tax won’t hit basic family cars


Middle-class Filipino households are not bound to lose the opportunity to have a family car as a result of higher excise taxes proposed under the government’s comprehensive tax reform program. 

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Poll: Pinoys 5th most optimistic globally

Children enjoy getting wet on the street. TMM FILE PHOTO

Prior to the terrorist siege of Marawi City last May, the Philippines was ranked the fifth most optimistic among nationalities in the world, a survey of global consumer sentiment showed. 

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Not too late to ‘cure’ P70-B deal, says PIDS


By Riza Lozada  Local telecommunications giants Philippine Long Distance Tele (PLDT) and Globe Telecom can still “cure” the defects of the P70 billion mega deal with San Miguel Corp. (SMC) on the acquisition of radio frequency assets without a long-drawn legal battle with the government, government think tank Philippine Institute for Development Studies (PIDS) said in a study. 

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Green groups balk at AIIB coal tack

AIIB President Jin Liqun

Cause-oriented and environmental groups expressed disappointment over the the Asian Infrastructure Investment Bank’s (AIIB) energy strategy that indicated that the Chinese-backed multilateral lender will continue to fund coal projects “subject to conditionalities.” 

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Philex sees extended life of Padcal mine

Philex chairman Manuel V. Pangilinan (middle) presides over the Philex Mining Corp.’s annual stockholder’s meeting.

Listed Philex Mining Corp. said resources identified in Bumolo porphyry copper-gold deposit, which is adjacent to its Padcal mine in the northern province of Benguet, have potential to add to the Padcal mine life beyond 2022.

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Public absorbs less than 15% of advertisements, says report


Fewer than one in seven advertisements were designed to deliver a strong emotional message that consumers can quickly absorb, a new report from Kantar Millward Brown showed. 

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DOE commits backing to electric vehicle bid


By Riza Lozada The Department of Energy (DOE) has assured the local transport industry of its full support for the continued development of electric vehicles (EVs) or e-vehicles in the country as the agency recognizes EVs as the future of motoring. 

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UnionBank marks 25 years of stock-market trade

UnionBank of the Philippines, Inc. commemorated its 25th listing anniversary through a bell ringing ceremony at the Philippine Stock Exchange (PSE). At the listing anniversary rites are (from left) UnionBank SVP, Corporate Secretary and General Counsel Atty. Joselito Banaag; UnionBank EVP, Center Head, Channel Management Center Dennis L. Matutina; UnionBank EVP, Center Head, Center for Strategic Partnerships Genaro V. Lapez; UnionBank Director Manuel L. Lozano; UnionBank Directors Dr. Francisco S. A. Sandejas and Nina Aguas; UnionBank SVP, Chief Technology and Operations Officer & Chief Transformation Officer Henry R. Aguda; UnionBank President and Chief Operating Officer Edwin R. Bautista; UnionBank Chairman and CEO Dr. Justo A. Ortiz; PSE President and CEO Ramon S. Monzon; UnionBank Directors Stephen Paradies, Sabin M. Aboitiz and Emmanuel Dooc; PSE Chief Operating Officer Roel A. Refran and PSE Director Alejandro T. Yu.

Union Bank of the Philippines (UnionBank) recently commemorated 25 years of being publicly listed with the Philippine Stock Exchange with an opening bell ringing ceremony at the PSE Ayala Trading Floor. 

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PCSO blasts Ang claim on STL ‘sugarcoating’ raps


The Philippine Charity Sweepstakes Office (PCSO) has no reason to under-declare its revenues under the expanded Small Town Lottery program, which generated P5.018-billion from January to May this year, up from the P2.066-billion earnings in the same period last year, PCSO General Manager Alexander Balutan said. 

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