IN DAYS when Makati was still a 9-to-5 city, taxis knew their best chance at a late-night passenger would be outside the SGV & Co. offices. Like moths drawn to the few lights burning on Ayala long after the working day was done, cabs would queue outside the Firm’s buildings assured of a steady stream of passengers who had put in extra hours at the office.
WHILE revenue performance is on track to meet the goals set by the Development Budget Coordination Committee (DBCC), the Department of Finance (DoF) said in a report that “the expenditure side still has headroom for expansion.”
THE RESEARCH arm of Citigroup Global Markets, Inc. has maintained its forecasts for the Philippines for this year and 2015 despite the slower-than-expected economic expansion in the third quarter, but noted that persistent state underspending poses the biggest risk to growth.
IN THE FIRST part of our series on working capital management (published in the November 20 issue of this column), we discussed the importance of working capital management as a key driver to achieve an optimal valuation. Whether or not a company is thinking of divesting, working capital management strategies should be carefully formulated, implemented throughout the organization, and regularly reviewed.
THE TRANSPORTATION department said it will offer six airport concession contracts in bundled form under the public-private partnership (PPP) program, with bid invitations expected within the month, though the exact combination of airports to be included in the two potential bundles will be determined after consultations.
THE DEPARTMENT of Trade and Industry (DTI) said the collapse in global oil prices could translate to a decline of at least 3% in the prices of local goods and services.
THE DEADLINE to submit prequalification documents for the government’s biggest public-private partnership (PPP) project could be moved back to March, after prospective bidders asked for an extension of about two months, an official said on Tuesday.
THE GOVERNMENT plans to further extend the deadline for new petroleum contract applications under the fifth leg of the Philippine Energy Contracting Round (PECR 5) to give investors more time to prepare their bids, the Energy chief said yesterday.
GROWTH in Philippine spending on fast-moving consumer goods (FMCGs) was flat to lower year-on-year, amid a marked slowdown in the segment within emerging markets, according to a study conducted in June by market research firm Kantar Worldpanel.
TO AID in the speedy conduct of tax investigations, the Commissioner of Internal Revenue and its duly authorized officers are empowered to issue a Subpoena Duces Tecum (SDT) to taxpayers who deliberately refuse or ignore the request of the Bureau of Internal Revenue (BIR) to submit books of accounts and/or other documents and records. In case of non-compliance, the BIR may also invoke the authority of the courts by filing a criminal case against a taxpayer. However, is there any available recourse to the taxpayer, in case the issued SDT does not comply with the prescribed guidelines and procedures?