THE share of government debt is expected to settle at 42.66% of gross domestic product (GDP), sustaining a declining trend dating to since 2010, according to National Treasurer Roberto V. Tan.
Aug 212016
Aug 212016
MINERS said they can thrive even under tougher regulation from the new government, based on the promise of greater investment in the industry.
Aug 212016
International Financial Reporting Standards (IFRS) 15, Revenue from Contracts with Customers, is one of the latest global accounting developments that will have an impact on broker-dealers in securities and asset management entities. IFRS 15 may potentially change certain revenue recognition practices of brokers and fund managers, particularly in accounting for trade commissions, management and performance-based fees, and upfront fees. These potential changes may also affect their earnings per share ratio and other performance measures.
Aug 202016
RA 7832 or the Anti-Electricity and Electric Transmission Lines/ Materials Pilferage Act of 1994 prohibits the possession, control, or custody of electric power transmission line/material by any person not engaged in the transmission or distribution of electric power, or in the manufacture of such materials. File photo MANILA, Philippines – Despite information campaigns, the National Grid Corp. of the Philippines (NGCP) is alarmed over the increase of transmission line and tower parts theft in the last two years as this could cause interruption in the delivery of electricity to consumers. NGCP said in a statement there has been higher instance of transmission line and tower parts pilferage since 2014. In 2015 alone, 13 incidents of stolen parts from transmission lines, substations, and other related facilities were reported to NGCP. Five cases have been reported from January to May 2016. RA 7832 or the Anti-Electricity and Electric Transmission Lines/ Materials Pilferage Act of 1994 prohibits the possession, control, or custody of electric power transmission line/material by any person not engaged in the transmission or distribution of electric power, or in the manufacture of such materials. Those found guilty will face 12 to 20 years of imprisonment and fines ranging from P50,000 to P100,000. Meanwhile, NGCP’s information campaign has resulted in a steady decrease of electrocution incidents, from a peak of 29 in 2012 to a five-year low of 17 in 2015. No employee-related accidents were also recorded for 2015 and 2016. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 It Read More …
Aug 202016
The important role that government plays in telecommunications development is undeniable. Acting as a regulator, government can make or break private sector investment in telecommunications. Take the case of the Philippine Competition Commission (PCC) and its insistence to review PLDT and Globe Telecom’s recent acquisition of San Miguel Corp.’s telecom assets despite the absence of legal basis to do so. Had the acquisition been considered “deemed approved” under the PCC interim rules, then PLDT and Globe should have been able to utilize the frequencies that used to be owned by SMC to benefit Filipino consumers. What would happen if PCC disapproves the deal? PLDT and Globe cannot return the assets to SMC. Neither can the two utilize the valuable 700 MHz radio frequencies that form part of the acquired assets. Such a waste of limited resources. Waiting for a third viable telecom player to arise is more like wishful thinking on the part of government. In the meantime, what government should do is invest in digital infrastructure, starting with a national broadband network (NBN) that would complement the existing telecoms backbone already set up by the private sector. Studies have shown that increasing public spending in the telecoms sector would lead to a corresponding hike in the rate of economic growth. Every 10 percent increase in the number of broadband subscribers (broadband penetration) corresponds to a 1.23 percent rise in gross domestic product, while doubling data connection speeds increases the GDP by 0.3 percent. As the economy expands and incomes rise, Read More …
Aug 202016
Time heals the deepest of wounds. So grant his dying wish, and spare him a piece of humble patch of earth, where his family can lay him to rest. Spare the dead of disrespect and let him be remembered by the good that he has done. Spare him this patch of earth and mind not the land and properties of individuals forcibly taken without compensation during his rule. Let him rest in peace as families have laid to rest their dead, whose protests were long silenced by warrantless arrest, torture and execution. Bury him and let the nation move on from the massive pilferage, crony corruption, decades of colossal and callous deception and lies. But most of all – honor him. Why on a Sunday would I write on a topic so divisive? Not for hatred or retribution, not for finger-pointing. My motivation is singular: to serve the millennials, or those among them who are at least open to re-evaluate their sense of history, some truths to tame the lies. It’s not the younger ones’ fault to be born in a time of free press and free social media. For them, democracy is not an issue nor a concern, because they never experienced democracy taken away, except for the occasional “nos” and “don’ts” from parents and in schools. They did not have the benefit of witnessing the horrors, and sadly, not even the benefit of an education of what transpired during the two decades of dictatorship. Of all materials on Read More …
Aug 202016
I have three kids. They are all different. You may have kids too and I am sure they are all different. They are not like each other and they are not like you. Isn’t this fact alone a mystery? The question I now ask in many of my leadership seminars is this: “Do I by virtue of my position as a “Father” expect all of them to adjust to me or do I adjust to them?” And almost every single one of the participants will answer: “Adjust to them.” The answer is right. Why do I need to adjust to them? The answer is very simple because I care for them. Good leaders take the time, effort and energy to know their people, connect and engage with them because they genuinely care for them. We need to understand that there are different behaviors you typically find in the workplace. When times are normal, these behaviors do not manifest. When there is a particular threat or difficulty, these are the 10 specific behavior patterns that sane people resort to when they feel threatened or thwarted, that represent their struggle with (or withdrawal from) undesired circumstances. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Rick Brinkman and Rick Kirschner in a book they authored a few years ago entitled: “Dealing With People You Can’t Stand” identified the following people and their specific behaviors. The book may have been written a couple of years ago but the material is still as relevant Read More …
Aug 202016
In his keynote address during a recent investment summit organized by the Financial Times and First Metro Investment Corp. (FMIC), Sharma said the country’s demographics is an area where the Philippines ranks well. Paulo Alcazaren MANILA, Philippines – The Philippines is one of the few Asian countries to watch out for because of positive demographics and stable fiscal position, said Ruchir Sharma, head of emerging markets for Morgan Stanley Investment Management. In his keynote address during a recent investment summit organized by the Financial Times and First Metro Investment Corp. (FMIC), Sharma said the country’s demographics is an area where the Philippines ranks well. “Given its working age population, it is still expanding at a decent pace. It has the necessary condition for being able to grow well over the next five years,” he said. Aside from positive demographics, Sharma said the country’s fiscal situation is also quite stable, debt levels are relatively well, inflation is kept in check, and currency appreciation is managed. Sharma said the country should first focus on spending in infrastructure before spending on welfare and other subsidies. Geographically, he said the country is doing well in keeping itself open to trade. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 But on internal geography, Sharma said there is too much wealth or economic development concentrated in Manila. This, he said, is a reflection of the wide income inequality in the country that needs to be addressed. Moving forward, Sharma said countries like the Philippines can Read More …
Aug 192016
The Department of Energy (DoE) is projecting that the country’s demand for electricity between this year and 2030 will grow by an additional 10,191 megawatts (MW), over 70% of which will be coming from baseload plants or energy supplied by coal-fired power sources.
Aug 192016
The agriculture chief is optimistic about farm output for this year’s last quarter, expecting it to be better than the first six months when agriculture was badly hit by the severest El Niño to hit the country.