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The government is seeking a change in the development classification of countries, as the Philippines, which has been elevated to the rank of middle-income nations, had resulted in lesser aid from rich countries. 

By Luis Leoncio Judging by the result of the World Economic Forum (WEF) annual review through its Global Competitiveness Index (GCI), the last year of President Aquino was a disappointing flop, as the Philippines, out of 138 countries, slipped 10 notches to rank 57th on competitiveness, from 47th place last year. 

Business groups are monitoring the developments on the global front, as several indicators point to trade prospects on a downturn that could aggravate problems in the international container-line industry, especially with the collapse of South Korean giant Hanjin Shipping Co. Ltd. 

By Nicandro Legaspi  The real-estate industry, which is enjoying its longest boom since the financial crisis of 1997, may face another collapse because of a proposal by the Department of Agrarian Reform (DAR), and supported by the Department of Agriculture, to impose a two-year ban on the conversion of agricultural lands to non-agricultural uses. 

By Luis Leoncio  The proposed tax-reform package will provide “safety nets” for the poor, like coupons that could be used as fares or discount cards when buying basic goods and services, the government said. Finance Undersecretary Karl Kendrick Chua, a former senior country economist of the World Bank for the Philippines, said the safety-net proposal of the Department of Finance …

The “concerns” raised by debt watcher Standard & Poor’s Ratings Services that the predictability of policymaking in the Philippines has “somewhat diminished” are not affecting the Duterte administration as it continues to pursue its 10-point economic agenda, Socio-economic Planning Secretary Rolando Tungpalan said. 

By Luis Leoncio Controversy surrounds the mining audit being conducted by the Department of Environment and Natural Resources (DENR) after Semirara Mining and Power Corp. (Semirara) obtained what appeared to be a “leaked report” on its mining operations on an island in Antique.

President Duterte said his administration will pursue power generation through cheap sources like coal plants, and will not be restrained by an international accord that limits carbon emissions. 

By Luis Leoncio The antitrust body Philippine Competition Commission (PCC) received crucial backing from the influential Joint Foreign Chambers of the Philippines (JFC) in exercising its mandate to probe the P70-billion telecommunications deal among giants San Miguel Corp. (SMC), Philippine Long Distance Telephone Co. (PLDT) and Globe Telecom.

A “win-win” strategy to end the “end-of-contract”, or “endo”, practice among big local firms has been proposed by an inter-agency body and accepted by President Duterte.