THE BUREAU of Customs (BoC) yesterday asked freight forwarders to install X-ray devices in warehouses to fast-track the release of “balikbayan boxes” from Overseas Filipino Workers (OFW) while curbing the entry of smuggled and prohibited goods.
THE DEPARTMENT of Energy (DoE) is pushing for measures that will support the growth of the country’s liquefied petroleum gas (LPG) sector, officials at a forum yesterday said.
FOREIGN BUSINESS associations in the Philippines have renewed their push at the House of Representatives for the passage of a law to create a Department of Information and Communication Technology (DICT).
Taxpayers have found some interpretations of the Tax Code to be unfair. There is hope in the courts though as seen in the Supreme Court decision on the Poverty Eradication and Alleviation Certificates (PEACe bonds). More than a decade ago, the Bureau of Treasury issued to the winning bidder P35 billion worth of 10-year zero-coupon treasury bonds designated as PEACe bonds of the Caucus of Development Non-Governmental Organization Networks (CODE-NGO), the country’s largest nonstock, nonprofit organization, which is composed of six national and six regional member networks, working for social development.
ECONOMIES should exercise caution when devaluing to boost exports as weaker currencies may also increase a country’s debt burden and make imports more costly, Finance Secretary Cesar V. Purisima said yesterday.
THE ENERGY department plans to award new petroleum service contracts under the fifth leg of the Philippine Energy Contracting Round (PECR) next month, an official said over the weekend.
In their paper “Responding to organizational identity threats: Exploring the role of organizational culture (2006), authors Ravasi and Schultz describe organizational culture as “a set of shared assumptions that guides what happens in organizations by defining appropriate behavior for various situations.” It is pervasive in an organization’s operations and influenced by the environment where the organization operates and the employees’ motivation for doing things. Moreover, the environment and employees’ motivation are largely influenced by the “tone at the top,” Board oversight and the Code of Ethics, all of which set the values and standards of an organization.
MANILA, Philippines – Employment in Clark, Pampanga is expected to continue booming as firms map out expansion of their operations in the Freeport, the Clark Development Corp. (CDC) said. CDC president Arthur Tugade said three companies which are on expansion mode are currently looking for qualified workers to fill-up vacant positions in their respective firms. Among the firms that are currently looking for additional manpower for their expansions and new operations are Australian business process outsourcing firm Beepo Inc., catering services firm La Rose Noire Phils. Inc., and hotel operator Midori Hotel and Casino. Midori will be the first five-star hotel to be established in Central Luzon and is expected to have a soft opening before the end of the year. As of end June 2015, CDC said Clark has already employed 72,875 workers, nine percent higher or 6,892 more compared to the same period last year. CDC added Clark is now enjoying its highest number of employment since its conversion from a military facility in 1993. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The increase in workers is attributed by the investors on the sound investment climate inside Clark since President Aquino implemented its programs,” CDC said. With the expansion and new operations of several firms, Tugade said CDC is hoping that the number of workers in Clark would breach the 100,000-mark before President Aquino steps down from Malacanang in June next year. One of the biggest employment-generating firms in Clark is Japanese manufacturer of hairpieces and Read More …
MANILA, Philippines – Local construction firm Datem Inc. has formally filed with the Securities and Exchange (SEC) an application for an initial public offering (IPO) of its shares at a price of up to P14.15 per share, translating to about P4.6 billion in total proceeds. The offer consists of up to 286,127,185 common shares and 42,919,078 optional shares pursuant to an over-allotment option, according to the company’s application. Proceeds would be used to fund expansion activities in construction, housing and bulk water, said company president Levy Espiritu. “The company is geared for bullish growth in the construction industry and in its subsidiary businesses,” he said. He said the company has over 30 years of experience and has successfully established itself as a reliable and reputable constructor with a wide range of residential and commercial projects for various clients. Datem’s projects include Discovery Primea, a luxury residential tower in Makati; Discovery Shores in Boracay and the Mind Museum, the Philippines’ first world-class science museum and a LEED Gold-certified building for design and construction. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Just recently, the company made its foray into the housing sector through Datem Homes which focuses on the delivery of well-planned communities and top quality affordable homes. In addition, Datem Homes has pipeline projects in Rizal and Davao. Datem has also ventured in bulk water supply and wastewater treatment services through Datem Water Inc. The company currently has a 15-year bulk water supply contract with Metro Kalibo Water District. Espiritu Read More …
MANILA, Philippines – To serve the growing two-way tourist arrivals between Turkey and the Philippines, Turkish Airlines launched direct, non-stop flights between Istanbul and Manila in March. Data from the Department of Tourism shows a 19-percent increase in tourist arrivals from Turkey between 2012 and 2013. “The Philippines has posted one of the world’s most impressive economic growths in recent years. Turkish Airlines sees opportunities in expanding air travel services in this country, which not only has a booming economy and a large population, but excellent tourist destinations as well,” said Erhan Balaban, Turkish Airlines general manager for the Philippines. “We are also committed toward strengthening ties between Turkey and the Philippines by taking part in both countries’ efforts to develop tourism, trade and investment.” Balaban, who took over the position in October 2014, oversees the airline’s operations in the country – from marketing and advertising to accounting and cargo operations. His many duties include “representing the company in the best manner.” Prior to handling the Philippine operations, Balaban was tasked to oversee the Japanese account. “My door is open to everyone as it is important for me that my staff feels comfortable in their relationship with me. I see myself as sensitive on having things in order. I experienced this in Japan, which I believe is the proper way of doing business,” he said. Proper communication ranks high in his leadership style. Every morning, he gathers his team for a 15-minute meeting to update each other on tasks and Read More …