EBITDABy DIEGO C. CAGAHASTIAN The member countries of the Shanghai Cooperation Organization [SCO) have long agreed to scale up the use of their national currencies in trade between their countries. This is perceived by many around the world that the US dollar will continue its inevitable slide to the backseat, if not the dustbin, of global trade. The Daily Star reported …
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By Romeo Sualibios Power distribution giant Manila Electric Company (Meralco) warned lawmakers that completely eliminating electricity theft and meter tampering could actually push power bills higher, sparking a fiery pushback from a key legislator. Addressing a Senate Committee on Energy inquiry, a Meralco official argued that achieving zero non-technical system loss requires aggressive operational expansions and massive hiring. Atty. Jose …
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President Ferdinand R. Marcos Jr. has signed an executive order creating a new incentive program designed to attract investments in electric vehicle (EV) manufacturing, strengthen the country’s industrial base and position the Philippines as a regional hub in the global EV supply chain. Executive Order (EO) 121, signed on Wednesday, adopts the Electric Vehicle Incentive Strategy (EVIS) Program, which offers …
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The Marcos administration is pursuing a balanced and consultative approach to its proposal to remove systems loss charges from electricity bills, stressing that any reform will protect consumers without undermining the stability of the country’s power industry. At a Palace briefing on Thursday, Palace Press Officer Claire Castro said the government welcomes the willingness of power sector stakeholders to discuss …
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The Bureau of Internal Revenue (BIR) on Thursday said it is fully prepared to implement President Ferdinand R. Marcos Jr.’s proposed tax reform measures, while continuing efforts to modernize tax administration and improve taxpayer services. BIR Commissioner Charlito Mendoza said the agency supports the administration’s tax reform agenda outlined by the President during his fifth State of the Nation Address …
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The Philippines and Poland are moving to strengthen cooperation in agriculture, trade and workforce development as both countries seek to expand agricultural exchanges and create more employment opportunities for Filipino workers. Cabinet Secretary Benjamin “Benhur” Abalos Jr. met last week with a Polish delegation led by Agriculture and Rural Development Minister Stefan Krajewski to discuss initiatives aimed at deepening bilateral …
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The Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday began deliberating on fare hike petitions filed by five major transport groups as rising fuel prices continue to drive up operating costs for public utility vehicles. LTFRB Chair Vigor Mendoza II said the board started reviewing all pending petitions following the directive of Transportation Secretary Giovanni Lopez to come up …
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Senate President Sherwin Gatchalian on Thursday directed the Energy Regulatory Commission (ERC) to submit a timetable and comprehensive audit plan for fuel-related charges passed on by power companies to consumers, as part of efforts to reduce electricity costs. During a Senate Committee on Energy hearing, Gatchalian said generation charges account for about 60 percent of an electricity bill, with fuel …
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The Department of Justice (DOJ) announced last week that the government has recovered more than ₱841 million in cash linked to anomalous flood control projects, with the funds already remitted to the National Treasury. In a statement, the DOJ said the recovered amount was deposited through the Land Bank of the Philippines and reaffirmed its commitment to pursue those responsible …
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The Association of Southeast Asian Nations (ASEAN) and China are aiming to conclude the long-awaited Code of Conduct (CoC) in the South China Sea by the end of the year, reflecting renewed momentum in negotiations among the parties. Foreign Affairs Secretary Ma. Theresa Lazaro said discussions during the 59th ASEAN Foreign Ministers’ Meeting (AMM) focused on accelerating negotiations, with ASEAN …
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