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The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered transportation network company, Uber, to pay a fine of P190 million before it could lift its suspension due to its activation of new drivers into its system. 

The proposed comprehensive tax reform program of the Duterte administration will serve as fiscal buffer to allow the government to pursue its expansionary economic policy anchored on an ambitious “Build, Build, Build” infrastructure program consisting of some 75 major flagship projects that would either be completed or started over the next five years, Finance Secretary Carlos Dominguez III said. 

The Senate approved the Expanded Anti-Red Tape Act of 2017 which seeks to reduce the requirements for starting and operating businesses by limiting the processing of business documents by not more than three days for small firms. 

Philex Mining Corp. has granted health insurance to 620 individuals, together with their families, worth P1.48 million this year, bringing to P3.4 million the total amount of coverage given to the indigent residents in the outlying communities of its Padcal mine in this province over the past four years. 

The policy-making Monetary Board (MB) seeks to strengthen financial institutions from persistent risks amid the still weak global market and domestic challenges as a result of tighter competition. 

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. 

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. 

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. 

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. 

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.