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The Senate will seek the scrapping of the excise tax on petroleum products under the Tax Reform Acceleration and Inclusion (TRAIN) since the proposed P6 per liter increase will prove burdensome to consumers, Senate President Pro Tempore Ralph Recto said.

The Philippines slipped to 113th place out of 190 economies in the Doing Business Report 2018 of the World Bank from 99th place a year ago.

At the recent summit in Tokyo between President Duterte and Prime Minister Shinzo Abe the Japanese government reaffirmed its commitment to provide economic cooperation worth 1 trillion over the next five years.

By Riza Lozada State pension fund Social Security System (SSS) said it reassigned four officials who are the subject of complaints of profiting from their posts.

The government has tapped Chinese billionaire tycoon Jack Ma to help local micro, small and medium enterprises (MSMEs) to improve their access to technology to spur their development.

By Luis Leoncio The Mining Industry Coordinating Council (MICC) has started a “fact-finding and science-based” review of mining operations across the country for the first time since the inception of this multisectoral oversight body five years ago, Finance Secretary Carlos Dominguez III said.

Subic Bay International Terminal Corp. (SBITC), a unit of International Container Terminal Services Inc. (ICTSI), operating the container terminals of the Subic Bay Freeport, supports the waiver of the $200 or P10,000 accreditation fee by the Subic Bay Metropolitan Authority (SBMA) for new logistics firms that will transact and do business at the Freeport.

The Management Association of the Philippines (MAP) chose tycoon John Gokongwei Jr., founder and chairan emeritus of JG Summit Holdings Inc. as MAP Management Man of the Year 2017.

By Luis Leoncio The rules to implement Republic Act 10927 which amended the Anti-Money Laundering Act of 2001 (AMLA) was signed among heads and key officials of the Anti-Money Laundering Council (AMLC), Philippine Amusement and Gaming Corporation (PAGCOR), Cagayan Export Zone Authority (CEZA) and Aurora Pacific Economic Zone and Freeport (APECO) in a ceremony held last Wednesday, October 25.

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) soothed worries about the recent weakening of the peso saying that the currency is merely undergoing an “adjustment process.”