BusinessWorld Online: Economy

Share Acquisition in 2016: Antitrust and Tax Compliance

Economy

Sep 192016

The legal landscape for mergers and acquisitions in the Philippines has been developing at an unprecedented pace over the last few years. In July 2015, Congress passed RA 10667 or the Philippine Competition Act, and in June 2016, the Philippine Competition Commission promulgated the Implementing Rules and Regulations of the said law. While it is inaccurate to say that antitrust laws never existed in the Philippines prior to 2015, RA 10667 is the first comprehensive competition legislation in the country. It is also the first time the Philippines created a specialized antitrust body to enforce antitrust laws and prevent anti-competitive agreements.

Falling oil, derisking to blame for soft remittances

Economy

Sep 182016

OIL’S FALL below its $52-per-barrel peak coupled with foreign banks’ “derisking” their money transfer businesses likely led to weaker remittances in July, a central bank official said.

Oil imports drop in 1st half

Economy

Sep 182016

THE COUNTRY’S oil import bill in the first half fell by almost 29% to $3.39 billion as the cost of shipping of crude and petroleum products dropped, allowing oil companies to take in bigger volumes.

Revisiting the changes in SRC Rules: A year since

Economy

Sep 182016

(First of two parts) On Aug. 4, 2015, the Securities and Exchange Commission (SEC) released the 2015 Implementing Rules and Regulations (IRR) of Republic Act No. 8799, otherwise known as the Securities Regulation Code (SRC). This came after various stakeholder inputs from as early as 2011, when the proposed amendments were made open to public comment. The 2015 IRR was published on Oct. 25, 2015, and took effect 15 days later, on Nov. 9, 2015. It modified the 2003 IRR with the introduction of significant changes geared towards transparency in dealing with brokers, dealer and securities ownership, as well as relaxing the rules to give investors easier access to capital.

External debt climbs at end-June

Economy

Sep 162016

PHILIPPINE external debt rose at end-June from a year ago, the Bangko Sentral ng Pilipinas (BSP) said, but still stood at a “comfortable” level with more than enough reserves to cover for foreign borrowings.

Mining firms pass government audit

Economy

Sep 162016

SOME mining firms in the country passed the Environment department’s completed audit,its chief said on Friday, even as the agency is still processing the results of its probe.

DENR launches computerized land management system

Economy

Sep 162016

THE Environment department’s Land Management Bureau (LMB) has recently launched a new system to hasten the processing and issuance of land titles that will cut down the previous six-month wait to five days.

Hiring rates pick up pace as commodities rally, optimism boost jobs

Economy

Sep 152016

FIRST-QUARTER employment in Metro Manila rose to its fastest in five years, led by net additions in industry.

Tobacco farming not lucrative — study

Economy

Sep 152016

PLANTING tobacco is not a lucrative endeavor, with four out of 10 farmers not happy with the revenues they make from tobacco farming, according to a joint study by activist policy group Action for Economic Reforms (AER) and the research arm of the American Cancer Society.

Agri chief takes to Facebook as Senate reviews Fisheries bill

Economy

Sep 152016

AGRICULTURE Secretary Emmanuel F. Piñol yesterday took to Facebook to take a jab at a proposal to create a new government agency that would remove the fisheries bureau from the purview of the Department of Agriculture (DA).

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