A MEASURE seeking to lift foreign ownership restrictions on some types of financial institutions was approved on second reading at the House of Representatives on Monday.
Jan 272016
BusinessWorld Online: Economy
Jan 272016
MOST MUNICIPALITIES depended mainly on allocations from the national government, with about seven in every 10 considered weak performers in terms of generating their own income in 2014.
Jan 272016
“What’s in a name? That which we call a rose by any other name would smell as sweet.” Shakespeare’s meaning in that line from Romeo and Juliet is that what matters is what something is, and not what it is called. It came to mind with the recently issued Securities and Exchange Commission-Office of the General Counsel (SEC-OGC) opinion dated 3 November 2015, which clarified whether a 100% foreign-owned domestic corporation can engage in the business of ground handling services for aircraft. The marshalling of an aircraft, loading and unloading of passengers, refueling and baggage handling are examples of such services.
Jan 262016
THE PHILIPPINES landed towards the bottom of global rankings measuring the impact of economic and trade policies on innovation, according to a global technology policy think tank.
Jan 262016
ILOILO CITY — Funding for the feasibility study of a proposed bridge connecting the island of Guimaras to Iloilo has been requested by the Department of Public Works and Highways (DPWH) from the South Korean government.
Jan 262016
WEAK GROWTH in emerging economies could further drag commodity prices this year, the World Bank (WB) said, revising its price forecasts for 37 out of 46 commodities monitored.
Jan 252016
MULTILATERAL LENDER Asian Development Bank (ADB) is targeting to double its private sector financing and investment portfolio to $16 billion by 2020, with the Philippines seen to continue serving as an “important market.”
Jan 252016
THE BANGKO Sentral ng Pilipinas (BSP) is likely to raise interest rates by the third quarter, Australia and New Zealand (ANZ) Bank said in a report, with price growth expected to accelerate beginning in the first three months.
Jan 252016
Tax rules seem to be constantly changing. Unless the taxpayer regularly looks up the latest issuances from the Bureau of Internal Revenue (BIR) and court decisions, or has a battery of tax advisors to do these for him, or attends periodic tax seminars, keeping track of developments in the rules can be difficult. The same can be very well said about filing tax refunds. Since tax refunds and tax credits are construed in strictissimi juris against the taxpayer, not only must he show that he is entitled to the refund under substantive law, he must also establish that the administrative and judicial claim were timely filed, lest he lose his entitlement to the claim.
Jan 242016
THE PHILIPPINES should continue diversifying the destinations of overseas Filipino workers (OFWs), the chief economist at the Department of Finance (DoF) said, as the decline in oil prices continues to weigh on Middle Eastern economies.