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Monthly Archives: August 2017

FPI: Smuggled goods cost P904B under Aquino

Rolando Dy

By Luis Leoncio  A trade group estimates that some P904.6 bilion worth of products were smuggled into the country during the administration of former President Benigno Aquino III, specifically from 2011 to 2015. 

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LTFRB keeps one-month ban; Uber offers to pay P10 million


By Riza Lozada  Despite an offer from global ride-sharing firm Uber to pay a P10-million fine, regulator Land Transportation Franchising and Regulatory Board (LTFRB) stood its ground in imposing a one-month suspension on the company and even encouraged transport network vehicle services (TNVS) accredited by Uber to jump to its competitors. 

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Market consensus points to government hitting growth goal

Socioeconomic Planning
Secretary Ernesto M.
Pernia delivers his
opening remarks to the
media at the Philippine Statistics Authority (PSA) press conference on the 2017 second-quarter performance of the Philippine economy.
With him is National
Economic and Development Authority (Neda) Undersecretary Rosemarie G. Edillon.

Economic observers are confident that the Philippine economy will hit the target range of 6.5-percent to 7.5-percent growth this year after the government announced a 6.5-percent gross domestic product (GDP) expansion in the second quarter. 

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Economic team bills Philippines as next Asian powerhouse

President Duterte’s economic team, led by Budget Secretary Benjamin Diokno, Finance Secretary Carlos Dominguez, Socioeconomic
Planning Secretary Ernesto Pernia, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr., and Executive Secretary Salvador Medialdea, at the Philippine Economic Briefing in Singapore on August 15, 2017.

Economic managers made a bold prediction to foreign investors in a Singaporean forum that the Philippines is slated to become Asia’s next economic powerhouse. 

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DOF to review P2.17-B MCC grant conditions


The Department of Finance (DOF) said it appreciates the decision of the US government’s Millenium Challenge Corp. (MCC) to reopen a $434 -million (P2.17-billion) grant, but the conditions attached to it would have to be reviewed. 

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Smartphones usher in new order for telcos—S&P


Telecommunications companies in Southeast Asia need to invest more in spectrum and new services to meet the explosive data and bandwidth demand in the smartphone era, a new study from Standard & Poors (S&P) Global Ratings showed.

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Semirara, DOE team up for mine-mouth plant

Energy Secretary Alfonso Cusi (center) pose with the DOE-SMPC Memorandum of Understanding after it was signed. With him are (from left) National Power Corp. President Pio Buenavidez, National Transmission Corp. President Melvin Matibag, SMPC Chairman and CEO Isidro Consunji, SMPC President and COO Victor Consunji, Omeco representatives Jun dela Cruz, General Manager Patrocinio Panagsagan Jr., lawyer Gregorio Bobos, Ronnie Morales and Omeco General Manager Alfred Dantis.

By Riza Lozada The Department of Energy (DOE) and the Consunji group’s Semirara Mining and Power Corporation (SMPC) made a pact to facilitate the development of a mine-mouth power plant in the province of Antique to ensure the acceleration of total electrification of the country. 

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Ecop worries over 25 bills on workers

The Employers Confederation of the Philippines (ECOP) has expressed anew concerns over certain provisions in 25 pending House of Representatives bills tackling the issues of contractualization and workers’ security of tenure.

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Think tank says CTRP should be passed in full


It is important to pass the new tax reform bill of the government as a package, according to a senior research fellow of government thinktank Philippine Institute for Development Studies (PIDS). 

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Calata seeks to stop delisting via sales deal


By Riza Lozada Listed Calata Corp. is selling 81 percent of its total shares to food processing firm Millennial Global Holdings Inc. through subscription to its 2.5 billion shares, in an effort to fend off its removal from the stock exchange. 

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