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By Luis Leoncio Local business groups gave mixed views on the effects of the Chinese government’s move to devalue the yuan to counter its slowing economy. 

By Luis Leoncio  The glowing claims of President Aquino on the economy, notwithstanding, the Philippines remains the poorest among the original five members of the Association of Southeast Asian Nations (Asean 5), former Budget Secretary Benjamin Diokno said. 

The integrity of the Makati Business Club’s (MBC) Executive Outlook Survey is being questioned by the camp of Vice President Jejomar Binay, which said the 67 wealthy members of the MBC “cannot represent” the sentiment of all Filipinos nationwide. 

By Riza Lozada  While some P400 billion in potential pork-barrel funds were found embedded in the 2015 budget, according to studies conducted by former Sen. Panfilo “Ping” Lacson, the 2016 budget has as much as P500 billion in lump sums, former National Treasurer Leonor Briones told The Market Monitor. 

By Luis Leoncio GMA Network Inc. President and CEO Felipe Gozon sought a truce in the raging word war with San Miguel Corp. (SMC) CEO Ramon Ang through a “reasonable settlement,” which Gozon said he will be willing to consider.

By Riza Lozada The Asian Development Bank (ADB) is increasing its concessional loans to the country to $3 billion between 2016 and 2018, or about a 66-percent hike from $1.8 billion from 2015 to 2017, but the government’s low loan absorption is a major concern in the country benefiting from the hiked funding.

The Association of Southeast Asian Nations (Asean), which, last Saturday, marked 48 years since its establishment, aims to establish a common market known as the Asean Economic Community (AEC) that included the Philippines by the end of this year.

By Riza Lozada Former senator and Presidential Assistant for Rehabilitation and Recovery Panfilo Lacson Jr. is petitioning the Supreme Court (SC) on August 10 to restrain the Aquino administration, primarily Budget Secretary Florencio “Butch” Abad, from using portions of the budget, which, he said, is part of what he termed as the resurrected pork-barrel system in this year’s budget.

By Luis Leoncio The Department of Budget and Management (DBM) under Secretary Florencio “Butch” Abad, a key member of President Aquino’s Liberal Party (LP), is now in control of the billions intended for the rehabilitation of the survivors of Supertyphoon “Yolanda” (international name: Haiyan).

How was the pork-barrel system embedded in the 2015 budget? Former Sen. Panfilo “Ping” Lacson said his research team found that lump-sum items are parked in the National Expenditure Program (NEP)—or the Palace-proposed budget— for later distribution to members of the House of Representatives, then to administration allies at the discretion of the Speaker in the approved General Appropriations Act (GAA).