ALI targets REIT offering this year
BusinessWorld - 2020-01-01
The listed property developer said in April that it will be placing its prime Makati Business District office assets under a REIT valued at $500 million. It is targeting to raise about $300 million from its REIT offering. "Amounts [are] still being finalized but roughly in the range," Mr. Bengzon said. If the listing will be materialized ...

Policymakers may consider additional excise taxes -- NTRC
philstar.com - 2020-01-01
MANILA, Philippines -- Policymakers may still consider increasing taxes on excisable items either to generate more revenues for the government or to discourage consumption of such products, according to a government think tank. In a report, the National Tax Research Center (NTRC) said demand for excisable products, such as cigarettes ...

Getting more things done sans distractions
philstar.com - 2020-01-01
The 2010s is characterized by the rise of strongmen who banked their power on populist hysteria. They came with all sorts of excuses that before been considered unfathomable: protectionism, anti-EU, anti-Muslim, anti-refugee, pro-state dictatorship, trade wars, anti-liberalism. From the Americas, to Europe, to Asia, these strongmen were ushered ...

Villanueva questions PH-Kuwait labor pact after latest OFW murder
Philippine Daily Inquirer - 2020-01-01
MANILA, Philippines -- Senator Joel Villanueva has questioned the implementation of a labor agreement between the Philippines and Kuwait meant to protect overseas Filipino workers (OFWs) from abuses following another killing of a domestic worker there. "We are outraged that another family has to grieve, and we question the implementation of ...

Holding companies not subject to LBT on passive income
BusinessWorld - 2020-01-01
Citing the Tax Code, banking laws, and pertinent regulations, among others, the SC ruled that the taxpayer is not an NBFI as it is not an entity authorized by the Bangko Sentral ng Pilipinas (BSP) to perform quasi-banking functions. Further, the high court made a distinction between a "holding company" and a "financial intermediary" as ...

The landmark court decisions of 2019
Philippine Daily Inquirer - 2020-01-01
The court referred to the shares of businessmen Jose Africa and Manuel Nieto Jr., which were acquired on June 10, 1974, in Eastern Telecommunications Phils Inc. and other investments which were proceeds ... on its aggressive island-building and occupation of islands in the West Philippine Sea. Morales and Del Rosario claimed that thousands ...

BARMM eyes foreign investments in 2020
Philippine Daily Inquirer - 2019-12-31
He said the region had been working to ease the process of doing business and had been eyeing the granting of incentives or tax breaks to investors. The government and the MILF are implementing the normalization phase of the final peace agreement or the Comprehensive Agreement on the Bangsamoro. In the normalization phase, both sides have ...

PHL on brink of deployment ban to Kuwait as maid dies
BusinessMirror - 2019-12-31
THE Department of Labor and Employment (DOLE) on Monday said it is closely monitoring the investigation in the death of another Filipino household service worker (HSW) in Kuwait, as labor revived calls for a partial deployment ban on the tiny oil-rich kingdom. In a statement, DOLE identified the victim as Jeanelyn Padernal Villavende ...

Service charge law may also benefit contractuals
BusinessMirror - 2019-12-31
CONTRACTUAL workers from qualified establishments could also benefit from the implementation of Republic Act 11360 or the Service Charge Law (SCL), according to the Department of Labor and Employment (DOLE). Last Thursday, Labor Secretary Silvestre H. Bello III issued Labor Advisory 14, Series of 2019, stating all employees, including ...

Duterte tells lawyers, military not to compromise with water firms
Philippine Daily Inquirer - 2019-12-31
"Now, this will be a mess, I told them, they have to iron this out, if they file a case, they may file a case at the Supreme Court, I will declare a suspension of the writ of habeas corpus and I will arrest all of them," Duterte said. "I want billionaires inside the prison, they will get a taste of jail." He also renewed his threats to ...

DOLE condemns killing of OFW in Kuwait; gives aid to SG road crash victims
Philippine Daily Inquirer - 2019-12-31
MANILA, Philippines -- The Department of Labor and Employment (DOLE) on Tuesday expressed its outrage over the killing of another overseas Filipino worker (OFW) in Kuwait as it sought for the swift resolution of the case. In a statement, DOLE said the recent incident was a "clear violation" of the agreement the Philippines and Kuwait ...

Filipinos warned against malicious online holiday greetings
CNN Philippines - 2019-12-31
Metro Manila (CNN Philippines, December 30) -- Have you received a notification that a long-lost relative or an acquaintance you've met years ago sent you a holiday greeting? You might want to be extra careful in opening that message. A cybersecurity nonprofit firm from the Philippines warned the public against malicious and fraudulent ...

DBP facilitates OWWA rebate program for OFWs
philstar.com - 2019-12-30
MANILA, Philippines -- The Development Bank of the Philippines (DBP) has committed to assist the Overseas Workers Welfare Administration (OWWA) in facilitating its rebate program, which benefits 167,000 overseas Filipino workers (OFWs). In a statement, DBP president and chief executive officer Emmanuel Herbosa said the bank has signed a ...

Tesla delivers first China-made Model 3s to its own workers
CNN Philippines - 2019-12-30
(CNN) -- Tesla broke ground on its Shanghai factory just under a year ago. Now, it's producing cars for customers. Fifteen employees of the electric carmaker become the first customers to receive Model 3s produced in China during a ceremony at the factory on Monday, according to Tesla. Wang Hao, general manager for Tesla China, said during the ...

January 2 will be an epic day of holiday gift returns
CNN Philippines - 2019-12-30
(CNN) -- Millions of holiday gifts are about to turn into holiday returns. January 2 will be a particularly epic day for sending stuff back, UPS predicts. Shoppers will return more merchandise than ever following this holiday season, including a record 1.9 million packages on Thursday, according to a new UPS forecast. That would amount to a 26 ...

Number of foreign fugitives nabbed in PH more than doubled in 2019
Philippine Daily Inquirer - 2019-12-30
MANILA, Philippines -- Immigration operatives have arrested this year over 400 foreign fugitives who hid in the Philippines to evade prosecution for their crimes. The Bureau of Immigration (BI) on Monday said this figure is 64 percent higher than the number in 2018. "They can no longer come back because they have been placed in our blacklist ...

The Pogo Phenomenon
BusinessMirror - 2019-12-29
These include having the necessary 9G, or Prearranged Employment Visa from the Bureau of Immigration (BI), as well as Alien Employment Permit (AEP) from the Department of Labor and Employment (DOLE). An AEP is a document issued by the DOLE to FNs, who will be locally employed in a position where no Filipino can perform the tasks, for more than ...

DTI hopes for CITIRA approval in 1st quarter
philstar.com - 2019-12-29
MANILA, Philippines -- With government unable to pass the Comprehensive Income Tax and Incentives Rationalization Act (CITIRA) bill this year, the Department of Trade and Industry (DTI) is hopeful the proposed measure would be approved within the first quarter of next year to put an end to investor uncertainty affecting investments being made ...

HAU gets intellectual property accreditation
Sun Star - 2019-12-29
A UNIVERSITY in Angeles City, Pampanga recently received an innovation and technology accreditation from the Intellectual Property Office of the Philippines (IPOPHL). The Holy Angel University (HAU) received the accreditation following the signing of a Memorandum of Agreement (MOA) between IPOPHL Director General Josephine Santiago and HAU ...

News under National Government Agencies Category
Philippine Information Agency - 2019-12-29
MANDALUYONG CITY, Dec. 29 -- The population growth of the Philippines recorded a decline of 0.21 percentage points (ppt) to 1.52% in the latter...

Decisive Congress needed
philstar.com - 2019-12-28
As a new year as about to unfold, our Congress is faced with the unenviable task of going through a number of proposed legislative measures that could determine the success or failure of our economy moving forward. First is the Corporate Income Tax and Incentive Rationalization Act (CITIRA), previously referred to as TRAIN 2 which, based on the ...

Returning OFWs get cash gift from President Duterte
BusinessMirror - 2019-12-28
Bello (Recto Mercene) Thirty overseas Filipino workers who landed aboard two separate flights from the Middle East yesterday at the Ninoy Aquino International Airport (NAIA) got 10,000 each courtesy of the yearly "Pamaskong Handog sa OFWs," by the Labor Department and the Overseas Workers Welfare Administration (OWWA). The first 15 OFWs ...

Number of illegal foreign workers arrested doubles
Philippine Daily Inquirer - 2019-12-27
The number of foreigners, mostly Chinese, who were arrested by the Bureau of Immigration (BI) so far this year rose 130 percent as the agency ramped up its campaign against aliens illegally working in the country. Immigration Commissioner Jaime Morente said that since January, 1,836 foreigners had been arrested by the BI intelligence division ...

PH population growth slows down
Philippine Daily Inquirer - 2019-12-27
But its full implementation has been stymied by objections from several sectors, among them the Catholic Church, which raised the constitutionality of the law before the Supreme Court. Although the high court ruled in 2014 that the RH law is constitutional, it struck down eight provisions, including sanctions against public officials who refuse ...

Duterte bars entry of 2 US senators over De Lima case
Philippine Daily Inquirer - 2019-12-27
were "not one of persecution but of prosecution," since the Supreme Court itself has "affirmed the incarceration of Senator De Lima as valid and lawful." "No other state can dictate upon ...

Glory and sorrow in 2019
Philippine Daily Inquirer - 2019-12-27
They have condemned the cheaters--their schoolmates--and have also condemned the UP administration for attempting to let ... the Court cannot simply order the return of the same to the national treasury." My goodness. The law (Republic Act No. 1379) states: "Whenever any public officer or employee has acquired during his incumbency ...

Philippine business in 2019: Death and taxes
CNN Philippines - 2019-12-27
Metro Manila (CNN Philippines, December 27) -- Death and taxes generally characterized local business this year, marked by the rise and fall of taipans, corporate deals, and tariffs. The Philippine economy saw highs and lows in 2019 as budget woes slowed down growth and business prospects. Activity has been revived towards the second half ...

PH bans entry of 2 US senators backing De Lima
Philippine Daily Inquirer - 2019-12-27
MANILA, Philippines -- President Rodrigo Duterte has ordered the Bureau of Immigration to deny two United States senators who pushed for the ban of Filipino officials who are allegedly behind the ...

BI: More than 2,000 illegal aliens arrested in 2019
GMA Network - 2019-12-27
Only recently, 342 Chinese nationals were arrested in several floors of a large condominium building in Bago Bantay, Quezon City for operating a telecom scam and working without permits, he said. Manahan added it was a busy year for BI agents assigned in southern Philippines as there have been more arrests of illegal aliens in Mindanao in 2019 ...

The biggest risks for US stocks in 2020
CNN Philippines - 2019-12-27
(CNN) -- Optimism over a "phase one" trade deal between the United States and China is pushing stocks to record highs in the final days of the year. But Wall Street banks still believe trade is one of the biggest risks for markets in 2020. That theme, which drove markets in 2019, seems hard to shake. Although the world's two largest economies ...

Likud primary turnout slightly down from last race, with less than 3 hours left
The Times of Israel - 2019-12-27
This is a five percentage point bump from an hour ago. Blue and White chairman Benny Gantz met with Labor chairman Amir Peretz, Channel 12 reports. While the two sides did not agree to merge, as some in Labor have been urging, there was an agreement to expand coordination between the parties ahead of the March vote. Channel 12 also reports that ...

NDF finally receives copies of government ceasefire orders
Philippine Daily Inquirer - 2019-12-27
LUCENA CITY - The communist-led National Democratic Front of the Philippines (NDF) finally received on Thursday copies of the government written ceasefire orders to state-security forces for the ...

BI arrests, deports Korean man wanted for $2-million cyber fraud
BusinessMirror - 2019-12-26
AIRPORT immigration agents have collared a Korean fugitive wanted by the Seoul police for involvement in cyber fraud. The passenger, 36-year-old Yun Kyungmin, was intercepted at the premier airport after his name showed up in the International Criminal Police Organization (Interpol) list of wanted fugitives. Grifton Medina, airport chief ...

Agencies gearing up for automation-driven workplace disruption
BusinessWorld - 2019-12-26
THE Department of Labor and Employment (DoLE) will be teaming up with the Department of Trade and Industry (DTI) and the Technical Education and Skills Development Authority (TESDA) to prepare industries and the labor force for the disruption brought about ...

Passing the hat
BusinessWorld - 2019-12-26
Powerful people surround themselves with a phalanx of retainers to ward off all types of petitioners. They may be knocking on the car window for a few coins or accosting them at parties, looking for jobs or business opportunities for which they are unqualified. When cornered coming out of the washroom, the embattled VIP has a ready answer ...

P4.5 B worth of smuggled goods found in Divisoria - PACC
Philippine Daily Inquirer - 2019-12-26
MANILA, Philippines -- Fake smuggled goods worth about P4.5 billion are being sold in malls in Divisoria in Manila and the stores selling them are not complying with the requirements of the Bureau of Internal Revenue (BIR) nor are they registered with the Department of Trade and Industry (DTI). This was the finding of the Presidential Anti ...

Duterte in 2019: Controversies, laws, orders and foreign trips
Philippine Daily Inquirer - 2019-12-26
The Philippine Health Insurance Corporation (Philhealth) has been hit by scandals midway this year after the INQUIRER bared the "ghost claims" scam that has marred the state insurance company ... who was then chief of the Central Luzon Police Regional Office, also said Albayalde asked him not to implement the dismissal order against ...

Young people across Asia pushed for change in 2019. Meet five of them
CNN Philippines - 2019-12-26
Women have been recorded in their homes ... Phyo Aung began his political activism in college as a student union member. Several years later, he met fellow activist Maung Saungkha, who had just been released from prison. Saungkha had been arrested under a controversial telecommunications law that regulates online speech, and which critics ...

When the quest for freedom goes horribly wrong
CNN Philippines - 2019-12-26
Rohani died in Australia, but his family says his mental health problems began thousands of kilometers away in an Australian processing center on Manus Island in Papua New Guinea (PNG ... walking into a hotel in central Brisbane, a black bag slung over his shoulder. He made a final call to his mother, Hamisha Tassangwal, who was in Australia ...

Sandiganbayan justice says Marcos P200-B forfeiture case moot
Philippine Daily Inquirer - 2019-12-25
In an exhaustive discussion of past Supreme Court decisions against the Marcoses, MaƱalac said it is clear that the former dictator and his family have failed to overcome the presumption that their wealth is ill gotten. Meanwhile, in the main decision penned by Quiroz, the antigraft court cited the Best Evidence Rule, and explained that the ...

PHL keen on forging 3 treaties with KSA
BusinessMirror - 2019-12-25
Philippine Overseas Employment Administration (POEA) Administrator Bernard P. Olalia said the DO is the result of their consultations with representatives of overseas Filipino workers (OFWs) and the recruitment industry. "Let us just wait for the DO to be signed by the Seclab [Secretary of Labor] on January [2020]," Olalia told the ...

At the SC, a leadership change, key innovations
philstar.com - 2019-12-25
MANILA, Philippines -- Another change in leadership took place this year in the Supreme Court (SC), as President Duterte named Diosdado Peralta as the 26th Chief Justice, who would have the longest tenure among all top magistrate appointees under this administration. Peralta took over from Lucas Bersamin who turned 70 on Oct. 18, the mandatory ...

Trade Secretary Lopez studying Recto tax bill
BusinessWorld - 2019-12-25
TRADE SECRETARY Ramon M. Lopez is studying an exporter-supported bill proposing to immediately reduce corporate income tax from 30%. The Philippine Exporters Confederation, Inc. (Philexport) said in a statement that it supports Senate Bill No. 595 filed by Senator Ralph G. Recto. The bill applies segmented tax rates according to companies ...

Why visitors feel right at home at Gambian consulate
Philippine Daily Inquirer - 2019-12-24
Sleek symmetry plus cool greens and whites spell tranquility in the Asian-themed guest bedroom. The elements are held together by a ... and student visas to Gambian students wanting to enroll at the International Rice and Research Institute in Laguna. Huibonhoa notes that former Vice President Isatou Njie-Saidy studied small-scale industrial ...

House vows to pass rest of tax reforms next year
BusinessMirror - 2019-12-24
According to Salceda, the committee also seeks to improve tax administration by studying structural reforms in the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC). "We will, likewise, try to raise taxpayer morale by studying digital transformation of the revenue-collection agencies. We want to make taxpayer experience seamles ...

Over 1,500 prisoners awaiting GCTA review stay jailed this Christmas
BusinessMirror - 2019-12-24
Though the BuCor already has a manual on the processing of GCTA published two years ago, it was not yet updated to take into consideration the recent decision of the Supreme Court, which ruled on the retroactive application of RA 10592. RA 10592 amended several provisions in the Revised Penal Code (RPC), and authorized the credit of preventive ...

November budget deficit widens to P60.9B
Philippine Daily Inquirer - 2019-12-23
Expenditures on public goods and services surged by more than a fifth in November such that the national government posted a wider budget deficit of P60.9 billion during the month. However, the impact of government underspending due to late budget approval at the start of the year lingered on until end-November as the 11-month budget deficit ...

The water privatization contracts -- respecting the rule of law
philstar.com - 2019-12-23
MANILA, Philippines -- In a sprawling house in a posh and exclusive village in Metro Manila one recent cold December night, some tycoons gathered to discuss the biggest issue to knock out the business environment under the Duterte administration - the move to cancel the decision extending the existing 1997 water privatization contracts ...

MORE Power asks Iloilo judge to resolve motion for inhibition
Philippine Daily Inquirer - 2019-12-23
MANILA, Philippines--MORE Electric and Power Corp. (MORE Power) has asked Judge Daniel Antonio Gerardo Amular of Iloilo Regional Trial Court Branch 35 to immediately resolve its motion for reconsideration seeking his inhibition from handling the expropriation case it filed against rival Panay Electric Company (PECO). MORE asked Amular to ...

Tesco halts work at Chinese factory over prison labor claim
Philippine Daily Inquirer - 2019-12-23
LONDON -- The U.K.-based grocery chain Tesco said it halted production at a factory in China on Sunday after a British newspaper reported the factory used forced labor to produce charity Christmas cards for the supermarket. Tesco said it also launched an investigation of the Chinese supplier it hired to make the holiday cards, Zheijiang ...

Translate >>

Original text