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Monthly Archives: August 2017

FPI: Smuggled goods cost P904B under Aquino

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

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

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

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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