Maniolas

One of the problems spawned by a growing metropolis, and further spurred by sustained economic growth, is parking. This may sound trivial but when you have more cars on the road, the next most irksome problem after traffic is trying to get a parking space. When you have to add 15 minutes or more of your commute time to finding a parking space for your car for a few hours, you’d likely end up late for your appointment or stressed out after grappling with all the delaying uncertainties. Availability of a parking space is not only the issue. If you park your car out on the streets, there’s always the risk of security. Or vandalism. Car-napping may be considered under control nowadays, but petty theft is not so. How many have been victimized by thieves or vandals who’d settle for your side mirrors or hubcaps just so to earn a few bucks or kicks? The more daring would go for your car stereo or anything valuable that you may have left inside the car after, of course, messing up big time with your door lock. Killer rates After space and security concerns is the problem regarding the high cost of parking. A yuppie will realize that a sizeable percentage of his income would be spent on parking fees if there is no company-assigned parking area or parking subsidy (separate from fuel allowance). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Parking buildings, either stand-alone or adjunct to malls, and Read More …

MANILA, Philippines – Dominant carrier Philippine Long Distance Telephone Co. (PLDT) has breached the one-million mark in broadband subscribers as of end-June, its top executive said. PLDT president and CEO Napoleon Nazareno said the continued expansion could be traced to the company’s integrated approach through which various fixed line and wireless services are deployed providing a range of high-quality voice, data and multimedia services to customers.  “In this highly competitive business, it is heartening to know that majority of the broadband market appreciate our products and services,” Nazareno said. The biggest contributors to wired revenues were PLDT Home Fibr and PLDT Home DSL with a combined 20 percent revenue increase. PLDT Home added nearly 100,000 new wired broadband subscribers, posting double-digit growth in the first six months compared to the same period last year. “Our growing broadband subscriber base will continue to increase as we move rapidly to the digital age where people are connected 24/7. We are enriching our communications services with a growing portfolio of digital multimedia content and life solutions that address our customers various needs,” Nazareno added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Gary Dujali, PLDT vice president and head of Home Marketing, said PLDT Home DSL and PLDT Home Fibr serve as a foundation for value-added services such as pay TV, video on demand and live streaming. “Compelling content plays an important part in the growth equation.  PLDT enables customers to experience the most engaging and compelling content in their favorite music, movies, Read More …

A cornerstone of a sound taxation system is that the tax regulation must be administratively feasible. In as much as generating sufficient revenue for the government becomes a chief consideration, tax legislations should be equally reverent to the importance of softening the blow of said imposition to the taxpayer.  Essential to tax collection efforts is the preservation and availability of the taxpayers’ books of accounts and other accounting records for the purpose of tax audits. To this end, it can be remembered that the Bureau of Internal Revenue (BIR) made a declaration in Revenue Regulations (RR) No. 17-2013 that it is in the best interest of both the government and the taxpayers that said records are retained for a longer period of 10 years. Perhaps in an effort to alleviate taxpayer efforts in preserving their books of accounts, the BIR has issued on 30 July 2014, RR No 5-2014, where the BIR has allowed the retention of electronic images as an alternative to keeping hard copies of the accounting records of the taxpayers. Under this RR, during the 10 years required by RR 17-2013 for the retention of records, the taxpayers shall within the first five years thereof, retain hard copies of the books of accounts, including subsidiary books and other accounting records. Thereafter, the taxpayer appears to have the option of retaining only the electronic image copies of the hard copies of the said records. In ensuring the integrity and security of these electronic images, the BIR has instructed Read More …

MANILA, Philippines – The Philippine Stock Exchange index (PSEi) is set to test the 7,200 level this week as investors await the announcement of the Philippine economy’s second quarter performance. Analysts believe that the country’s second quarter gross domestic product (GDP), which is expected to grow at a faster pace compared to the 5.7 percent expansion in the first quarter, can make or break market confidence in equities in the succeeding weeks.    “This will be the turning point on whether the PSEi can sustain its advance toward 7,200 or serve as the platform for a near-term correction,” said Accord Capital Equities Corp. analyst Justino Calaycay Jr. The bellwether index finished strong last week after a four-day rally, closing at a fresh 14-month high and piercing through the 7,100 level for the first time this year. “Trading activity has picked up significantly with value turnover picking up towards the tail-end of the Chinese ghost month. Earnings have definitely recovered off the first quarter weakness. They are not as stellar as we would probably want them to be – sufficient to justify the PSEI’s foray into the 7,000-7,200 band. But, ceteris paribus, expectations that the index will head even higher in the balance of the year appear justified,” Calaycay said. F. Yap Securities investment analyst Jason T. Escartin said optimists dominated last week as political tension in Eastern Europe & the Middle East receded. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Any indication at the political front that would show Read More …

MANILA, Philippines – The government’s debt servicing requirements will decline slightly next year because of prudent and efficient public financial management and decreasing principal payments. Documents from the Department of Finance show that out of the proposed 2015 national budget of P2.61 trillion, the government would spend P763.25 billion to pay its debts, P56 billion lower than the P819.19 billion earmarked this year. Of the P763.25 billion, P390.39 billion has been set aside for principal payments comprising P315.58 billion in domestic debt and P74.8 billion in foreign loans. The amount allocated for the settlement of principal obligations represents a 16.3 percent drop from this year’s P466.54 billion allocation.  The government has allotted P372.86 billion for payment of interest on the state’s outstanding debt. This is 6 percent higher than the P352.65 billion earmarked this year and 14.28 percent of the proposed 2015 national budget. Out of the P372.86 billion allocation, P277.56 billion will be set aside for domestic liabilities while P95.3 billion will be for foreign debt. Since President Aquino assumed office in 2010, the proportion of the national budget allotted for interest payments has been on a downward trend. Last year, the share fell to only 16.6 percent of the national budget. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The country’s economic managers seek to further reduce the interest payment share to 12 percent by 2016. As the allocation for interest payments is lowered, more funds would be available for infrastructure, social services and other vital expenditures Read More …