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1859 articles from BusinessWorld
THE P17.76-billion Makati electric bus rapid transit (BRT) project is advancing as the city government proceeds with the detailed evaluation of an unsolicited proposal, the Public-Private Partnership (PPP) Center said. Information from the PPP Center’s website showed that the Makati City government has informed the project’s private proponent, the Makati BRT Consortium, and the PPP […]
Read more →VICE-PRESIDENT (VP) Sara Duterte-Carpio should attend her impeachment trial, the House prosecution panel said on Thursday, after witness Gina F. Acosta testified she transferred P125 million in confidential funds on the Vice-President’s orders. House prosecutor spokesman Ziaur-Rahman “Zia” A. Adiong said that Ms. Acosta’s testimony could not fully answer the questions surrounding the transfer because […]
Read more →NEWLY APPOINTED Philippine Health Insurance Corp. (PhilHealth) Acting President and Chief Executive Officer Beverly Lorraine C. Ho said she will focus on balancing efficient benefit disbursement to ensure the improvement in universal healthcare. “I think, overall, we need to make sure that we are efficiently providing benefits to people. So, it has to be easy […]
Read more →A LAWMAKER on Thursday called for an overhaul of the Metropolitan Manila Development Authority’s (MMDA) 31-year-old charter to clarify its powers and accountability in tackling Metro Manila’s persistent traffic, flooding and waste management problems. In a statement, Manila Rep. Joel R. Chua said that Republic Act No. 7924 leaves gaps in determining where the authority […]
Read more →THE Bureau of Corrections (BuCor) has reminded its personnel to properly handle and secure government-issued and privately owned firearms following recent fatal shooting incidents involving minors who gained access to firearms owned or possessed by adult relatives, the bureau said on Thursday. BuCor Director General Gregorio Pio P. Catapang, Jr. issued a memorandum directing authorized […]
Read more →THE Department of Information and Communications Technology (DICT) said its anti-cybercrime division should be granted jurisdiction over social media platforms to effectively regulate violent content following a livestreamed shooting incident in Zamboanga on Tuesday. DICT Cybercrime Investigation and Coordinating Center Executive Director Renato A. Paraiso raised that their capacity to take down harmful social media […]
Read more →SENATE Energy Committee Chairperson Erwin T. Tulfo pressed the Philippine National Police Investigation Division for convicting only 21 individuals involved in power pilferage out of 469 cases since 2022. Mr. Tulfo raised during the Senate Energy Committee hearing on Aug. 20 that the number of convicted individuals in four years remains lower than 10% of […]
Read more →A LAWMAKER pressed the Department of Budget and Management (DBM) to secure the P55-billion funding for a proposed increase in the allowance of civilian government employees, saying the government should already act on the long-stagnant Personnel Economic Relief Allowance (PERA). In a statement on Thursday, Party-list Rep. Antolio L. Tinio said DBM officials confirmed during […]
Read more →THE Bureau of Internal Revenue (BIR) on Thursday said it filed a P2.23-billion tax evasion case against a Bamban, Tarlac-based Philippine offshore gaming operator (POGO). The BIR said a case was filed against Hongsheng Gaming Technology, Inc. over “alleged underdeclaration of income, failure to declare the correct value-added tax (VAT), and failure to withhold and […]
Read more →COTABATO CITY — Policemen seized a big volume of Indonesian-made cigarettes, neatly piled inside a van-type truck, intercepted at a checkpoint in Barangay Bayanga Norte in Matanog, Maguindanao del Norte on Tuesday morning. Local executives and officials of the Maguindanao del Norte Provincial Police Office separately said on Thursday that policemen and Bureau of Customs […]
Read more →The removal of the value-added tax (VAT) on system loss charges may not require legislation if the collections are established as government-mandated pass-through charges outside taxable gross sales, the Bureau of Internal Revenue (BIR) said. BIR Commissioner Charlito Martin R. Mendoza said the Energy Regulatory Commission (ERC) had prepared a draft resolution addressing system loss […]
Read more →THE government’s tax incentive regime resulted in foregone revenue of P559.73 billion in 2025, or more than a third of that year’s fiscal deficit, according to budget documents.
Read more →THE winning bidder for the Subic Bay International Airport (SBIA) project will receive fiscal incentives, including up to 16 years of a special 5% tax, to encourage long-term private sector investment, the Public-Private Partnership (PPP) Center said. “The concessionaire may qualify for a 5% Special Corporate Income Tax for up to 16 years from the […]
Read more →THE government has invited US companies to “stay in the Philippines,” expand their operations, develop the talent base, and help the country move into higher-value segments of the supply chain.
Read more →For the fourth straight year, ACEN RES reaped medals at the Stevie International Business Awards, this time winning Gold, Silver, and Bronze across different categories — in a field of 3,400 nominations from organizations in 78 countries all over the world. ACEN RES and its partner, Synergy Market Research and Consultancy, earned a Gold Stevie as the […]
Read more →Pag-IBIG Fund and the City Government of Naga began turning over affordable homes to qualified city government employees who are acquiring their properties through Pag-IBIG Housing Loans. The turnover marks the first group of city employees to become homeowners through a partnership signed just two months ago to help public servants, particularly those in lower […]
Read more →By Katherine K. Chan, Reporter The Philippines’ balance of payments (BoP) position swung to a deficit for the first time in three months in July, data from the Bangko Sentral ng Pilipinas (BSP) showed. According to central bank data released late on Wednesday, the country’s BoP position stood at a $1.47-billion deficit in July, a […]
Read more →Rains caused by the southwest monsoon are expected to lessen on Thursday as tropical depression Neneng continues to move away from the country, according to the state weather bureau. However, it noted that monsoon rains may be enhanced again by Sunday due to Tropical Storm Saudel, which is also likely to develop into a typhoon. […]
Read more →THE Philippine peso weakened against the dollar on Wednesday after touching a fresh intraday record low near the P62 level as escalating tensions in the Middle East heightened inflation and interest rate concerns.
Read more →PEDESTRIANS waded through floodwaters while motorists cautiously drove through submerged roads in Metro Manila on Monday, as heavy southwest monsoon rains once again exposed the capital’s vulnerability to flooding.
Read more →THE Bureau of Customs (BoC) is confident it can meet its P1.075-trillion revenue target for 2027 as it tightens assessments.
Read more →TOTAL DEPOSITS in Philippine banks rose by 8% year on year as of end-June as the banking system remained healthy, but challenging economic conditions moderated quarter-on-quarter growth, analysts said.
Read more →PROLONGED MONSOON RAINS are expected to weigh on the third-quarter operations of consumer-facing and construction companies, while logistics and mining firms could face higher costs and delays, analysts said.
Read more →ABS-CBN CORP. is betting on content partnerships and cost reductions to move toward profitability as its attributable net loss more than tripled to P897.19 million in the second quarter (Q2) from P289.74 million a year earlier. “We recognize that we are not yet where we need to be. And while this has no doubt been […]
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