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BuB feared to become a budget fixture

Alarm bells are being sounded over the efforts of the Aquino administration to institutionalize in the 2016 budget the Bottom-up Budgeting (BuB) scheme, which administration critics call a clone of the controversial Disbursement Acceleration Program (DAP) that was alloted P20.8 billion in this year’s budget.

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S&P issues downgrade warning

The Philippines, although still enjoying investment-grade status, may face a downgrade contingent on the results of the last elections. Standard & Poor’s (S&P) issued the warning due to inherent defects in the country, such as the lack of infrastructure support and deficient energy outlook and low export volumes.

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BOC role in Asean integration cited

Malacañang said on Saturday it is confident the Bureau of Customs (BOC) would do its part effectively as the country becomes part of a more integrated Association of Southeast Asian Nations (Asean).

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Too much taxes, too little service

The Aquino administration is shortchanging Filipinos in terms of services rendered as compared to taxes collected, according to a study conducted by Prof. Benjamin Diokno of the University of the Philippines School of Economics (UPSE).

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JFC seeks serious government review of investment rules

By Riza Lozada Foreign trade groups are seeking a serious government review of the Omnibus Investment Code, particularly on ways to relax foreign-ownership rules outside of the Constitution; and the policy to limit tax incentives granted to new projects.

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Coal-plant damage to worsen energy crisis

By Lito U. Gagni and Riza Lozada The country’s energy scenario has dimmed further as a result of the April 5 blackout in Mindanao that resulted in a collateral damage to AboitizPower’s 150-megawatt (MW) Unit 2 coal plant that would mean a 10-month delay in its commissioning.

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Top banks flunk Basel III

By Luis Leoncio The local banking system is healthy overall as a result of measures the Bangko Sentral ng Pilipinas (BSP) had taken, including the imposition of a strict requirement to ensure that Philippine banks are on par with international standards. But BSP records show that not only small banks, but even those considered “too big to fail” have fallen below …

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Biz captains hit new tax rules; BIR blinks

By Luis Leoncio Widespread protests have forced the Bureau of Internal Revenue (BIR) to defer until next year the implementation of a new requirement that the bigwigs of the business sector consider to be a redundancy and a violation of their right to privacy.

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Most rural banks face extinction

By Jerry Maglunog Rural banks or RBs, generally considered the main source of funds for small borrowers, are facing hard times. In fact, most of them face extinction.

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P35-B infra projects for Cebu City OKd

Cebu City—The Cebu City Development Council infrastructure committee has approved some P3.5 billion worth of infrastructure projects proposed by the Department of Public Works and Highways-Cebu City Engineering District for 2015.

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