Business

By Riza Lozada Pension fund Government Service Insurance System (GSIS) continues to be hounded by problems in selling its GSIS Family Bank (GFB) unit, as bidders wanted an assurance that the 20 branches of the bank would retain its privilege of being exempt from paying licensing fees.

By Riza Lozada The Philippine Postal Corp. (Philpost) is under criticism for featuring twice a living person—Manny Pacquiao—on its special stamp.

The British government and the civil-society organization Bantay Kita signed its third grant agreement last week, sealing their partnership in ensuring good governance in the extractive industry through the Extractive Industries Transparency Initiative (EITI).

Exporters lamented the prevailing high trucking costs, which they said raises the cost of doing business, despite the rate reduction claimed by trucking companies following the resolution of the port congestion.

The local bourse will start using its new trading system, the PSEtrade XTS, on June 1, 2015, which is a trading engine developed by American stock exchange Nasdaq.

Regional property developer 8990 Holdings Inc., which has been the leader in the development of low- and middle-cost housing since 1995, continues to expand its reach to various locations in the country.

Reforms launched last April 14 to ease the conduct of doing business in the country have been rolled out successfully in its first month of operation, according to the Securities and Exchange Commission (SEC).

By Jerry Maglunog Farming is the source of revenues of half of the local labor force. If there are about 44 million workers, more than 20 million of them are likely farmers.

By Riza Lozada The government unveiled a bold program which it claims will bring down the poverty level to 18 to 20 percent by next year from the current 24 percent of the population through a poverty alleviation scheme in nine select provinces with the poorest families.

The Department of Budget and Management (DBM) is speeding up the release of funds for climate change by allowing the online submission of the budget. The Unified Accounts Code of Structure (UACS) that will expedite reportorial of expenditures was also introduced in government offices with an information campaign launched last week.