THE hotel and gaming market is getting a boost from both international and local players, as the government’s plan to increase foreign arrivals stimulates development activity to meet demand, research firm Pinnacle Real Estate Consulting Services, Inc. said in a report.
THE PLAN to build Kaliwa dam, the proposed new water source for Metro Manila, has again been tweaked, this time to accommodate funding from China, the top official of one of the capital’s water concessionaires said.
A LAND DISPUTE involving farmland planted with bananas in Davao is expected to disrupt the country’s export performance, as agrarian reform beneficiaries claiming the land undermine international trading agreements.
A few weeks ago, I attended a meeting where it was discussed that Bureau of Internal Revenue (BIR) rulings are no longer published. Suddenly losing my appetite, I decided to forego dessert and coffee and instead, concentrated on listening to the discussion. The speaker said that BIR rulings must be kept private because they contain confidential information of the taxpayers which can violate the taxpayer’s right to confidentiality. In some cases, it was noted that even bank account details are included in the rulings necessitating the need to keep them private.
POWER SUPPLY will remain adequate between now and the next four years but beyond 2021, the country will be needing 700 megawatts (MW) more each year to meet the rising demand of a growing economy, the head of Ayala Corp.’s energy arm said.
THE GROWTH of the outsourcing industry in Cebu is fueling demand for luxury property in the city, as business executives employed in the sector seek residences in the area alongside high-spending foreign tourists who come for holidays, property consultancy Colliers International said.
With the rapid changes in the global business environment and the brisk increase in cross-border trade and transactions, regulators, enterprises and stakeholders alike agree that it is vital to sustain the creation of International Financial Reporting Standards (IFRS) as a common and globally-accepted reference for financial reporting. However, given the depth, scope and complexity of global business, the adoption of new standards always comes with numerous challenges.
MANILA Electric Co. (Meralco) has the option to participate in the next project of Repower Energy Development Corp. after the partners broke ground on two run-of-river mini-hydropower plants in the past six months.
THE PHILIPPINES’ credit position could improve should the Finance department’s comprehensive tax reform program make progress through the last two plenary sessions of the House of Representatives, or by end of May, the Budget Secretary said.
SPEAKER Pantaleon D. Alvarez said the Finance department has to fully implement the lateral attrition law, which features a system of rewards and penalties intended to encourage employees of revenue-collection agencies to exceed their targets.