BusinessWorld Online: Economy

eBIR

Economy

Nov 242013

THE PHILIPPINES is included in the top 10 economies with the most improvement in their business regulatory systems, as reported in Doing Business 2014, the 11th edition of the annual joint report of the World Bank and International Finance Corporation. The annual report benchmarks government regulations affecting small and medium private enterprises, based on the following categories: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.

DBM to release E. Visayas revenue shares

Economy

Nov 222013

The Department of Budget and Management (DBM) will release by end-month the December internal revenue allotment (IRA) share of Eastern Visayas (Region VIII) to help local governments cope with the damage wrought by super typhoon Yolanda (international name: Haiyan).

Philippines intends to sign multilateral tax convention

Economy

Nov 222013

The Philippines intends to accede to a multilateral convention on tax transparency and cooperation, according to the Organization for Economic Cooperation and Development (OECD).

Drilon vows to remove budget provisions that clash with SC ruling

Economy

Nov 222013

Senate President Franklin M. Drilon yesterday vowed to remove provisions in the House of Representatives’s version of the 2014 national budget that are inconsistent with the Supreme Court (SC) ruling that legislators’ participation in the post-enactment stage of the budget execution are unconstitutional.

Inflation seen still within target

Economy

Nov 212013

THE MONETARY Board (MB) expects inflation to remain within the Bangko Sentral ng Pilipinas’ (BSP) 3-5% goal despite a hike in its 2014 forecast.

Senate may restore emergency housing funds to NHA budget

Economy

Nov 212013

THE SENATE is considering restoring allocations for the National Housing Authority (NHA), which the Budget department gave a zero budget for emergency housing and resettlement capabilities in 2014.

Firms buck possible safeguards on iron imports

Economy

Nov 212013

FOREIGN and local companies yesterday strongly opposed the petition filed by Puyat Steel Corp. with the Department of Trade and Industry (DTI) to impose safeguard duties on imported galvanized iron (GI) and pre-painted galvanized iron (PPGI) sheets and coils, which allegedly cause “serious injury” to the local industry.

Lone bidder may win BCDA lot contract

Economy

Nov 202013

A CONSORTIUM of construction firms may bag within the month the contract to develop a 5,225-square-meter commercial lot in Bonifacio Global City that is being auctioned off by the government, provided the companies hurdle post-qualification procedures, a Bases Conversion and Development Authority (BCDA) official yesterday said.

Philippines counts the cost of typhoon Haiyan

Economy

Nov 202013

SUPER typhoon Haiyan’s devastating assault on the central Philippines exerted a catastrophic human cost, but analysts say its impact on one of Asia’s fastest growing economies will be less traumatic.

Of calamities and taxes

Economy

Nov 202013

SUPER TYPHOON Yolanda (international name: Haiyan) is definitely one for the books — significantly surpassing all records and recalibrating atmospheric standards. It is by far the strongest typhoon in Philippine history and in the world this year. By a wide-range of comparison, its sustained winds of 315 kilometers per hour were far stronger than hurricane Katrina’s (2005) winds of 201 km/h and superstorm Sandy’s winds of 129 km/h. Emphasizing the typhoon’s impact on the global environment, TIME, in its Nov. 25 issue, bleakly remarked: “Haiyan wasn’t the result of climate change, but the typhoon’s strength could well be a sign of catastrophes to come”.

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