DAMAGE to agriculture caused by the consecutive typhoons code-named Karen and Lawin is estimated at P10.2 billion so far, according to the Department of Agriculture (DA).
Oct 232016
BusinessWorld Online: Economy
Oct 232016
CHINESE RULES for taking in Philippine agricultural products are still “unpredictable” and “restrictive” despite Malacañang’s pivot to Beijing, an industry association said.
Oct 232016
As part of its continuing efforts to further streamline and standardize International Financial Reporting Standards (IFRS) around the world, the International Accounting Standards Board (IASB) issued an exposure draft (ED) on the revised Conceptual Framework for Financial Reporting (the Framework). The Framework is not itself a standard, but is instead akin to the “backbone” upon which the various standards are fleshed out. It provides a clear and consistent set of concepts to help define and standardize the objectives behind the various standards. The Framework not only helps the IASB develop and update IFRS, it also helps the preparers of financial statements create their own policies when no Standard applies to a particular transaction or event, or when a choice of accounting policies is allowed. In addition, it can also help others better understand and interpret IFRS.
Oct 212016
ILOILO CITY — The fish port in Concepcion, one of the towns on Panay Island that was hardest hit by typhoon Yolanda (international name: Haiyan), is getting a $4 million grant from the Korea International Cooperation Agency (KOICA) to make the facility more disaster-resilient.
Oct 202016
THE Department of Trade and Industry is consulting with the auto industry in order to gauge the potential effects of a hike in automobile excise tax, an official said.
Oct 202016
THE adjusted fuel excise tax and additional VAT that would be implemented with the proposed personal income tax (PIT) reform package of the Department of Finance (DoF) would cost more than P4,000 in tax annually to wage earners with a P21,000 monthly income.
Oct 202016
DAVAO CITY — Banana planters said a review being conducted by the Department of Agrarian Reform (DAR) of Agribusiness Venture Agreements (AVAs) signed by agrarian reform beneficiaries will scare away potential investors who may want to fund the beneficiaries’ growing operations.
Oct 192016
AN OFFICIAL recommendation on the feasibility of setting up downstream ore processing facilities in the Philippines will be drawn up by the end of the year, according to the chief of the Mines and Geosciences Bureau (MGB).
Oct 192016
THE House committee on constitutional amendments has approved the resolution calling for the Congress to constitute into a Constituent Assembly as a mode of changing the 1987 Charter, signaling a way forward for plans to modify the charter’s economic provisions, among others.
Oct 192016
The year has not yet ended but I believe that the most used word in the country this year is “change.” Now, how you view change, whether as something to be feared or as a challenge to improve, will determine how you respond to it and how it, in turn, will affect you. One industry has charted its own course this year amid this sea of change. The Information Technology and Business Process Management industry or IT-BPM has thrived in the last 20 years to become one of the country’s primary economic drivers with more than one million full-time employees (FTE) and more than $22 billion in revenue as of 2015. The industry is on track to meet its 2016 goal of 1.3 million direct employees and $25 billion in revenue.