Jan 092015
 
DA bans livestock imports from some countries

MANILA, Philippines – The Department of Agriculture (DA) has ordered a temporary ban on the importation of livestock and products from China, Korea and Namibia where incidences of foot-and-mouth disease have recently been reported. The ban, that took effect last month through the issuance of memorandum orders 98, 100 and 102, prohibits the entry of livestock and products from Chungcheongbuk-Do, Korea; Jiangsu, China; and Caprivi, Namibia. As such, the processing and approval of Sanitary and Phytosanitary (SPS) Import Clearance for livestock and products coming from the said locations have been suspended. Livestock and products arriving in Philippine ports found to have originated from such locations would be confiscated. The directive was issued following reports from the Office International del Epizooties (OIE) of outbreak of FMD virus of Serotype O affecting backyard piggery farms in China and Korea and among cattle in Namibia. OIE is an inter-governmental organization that informs governments of the occurrence of animal diseases and means of controlling the spread of such diseases. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The organization likewise initiates studies dedicated to surveillance and control of animal diseases, as well as harmonization of regulations to facilitate safe trade of animal and animal products. Agriculture Secretary Proceso Alcala said the Philippines is being especially cautious about the entry of animal products that may have been infected by animal diseases as the country is striving to boost the production capability of farmers amid increased trade competition in Southeast Asia.  “We cannot afford to Read More …

Jan 092015
 
Phl stocks hit new record high

MANILA, Philippines – The Philippine stock market continued its bull run yesterday, marking its tenth straight winning streak with an all new record high. The Philippine Stock Exchange index (PSEi) gained 0.48 percent or 35.09 points, zooming to a fresh record close of 7,402.72. Friday’s finish shattered the previous all-time high closing level of 7,392.20 posted on May 15, 2013. Aside from the record close feat, the local benchmark index also trampled the previous all-time intraday high at 7,413.62 on Sept. 25, 2014 with yesterday’s 7,446.66. The all shares index also joined the climb, picking up 0.35 percent or 15.01 points at 4,336.90. Analysts said upbeat moods abroad helped propel local investors’ hopes, pushing the PSEi to a whole new level only a few days into 2015. “The PSEi rewrote history right on the first week of trades en route to its 10th straight positive day,” said Accord Capital Equities Corp. analyst Justino Calaycay Jr. said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 US stocks followed up its recovery the previous day with another positive performance, led by the Dow and the Nasdaq which increased 1.84 percent, respectively. Locally, three counters still ended in the red despite the market’s stellar trading day with the mining and oil firms suffering the biggest drop of 0.77 percent or 125.70 points. Services firms, meanwhile, enjoyed the largest growth of 1.10 percent or 23.28 points. Market breadth was positive as advancers dominated decliners, 99 to 91, while 42 stocks did not change Read More …

Jan 092015
 
Balik Cebu ready to build 50 units

A YEAR after they launched the fund-raising program Balik Balay, organizers of the Balik Cebu group announced they will begin the construction of 50 nipa huts in Esperanza, Pilar, Camotes this month. “The resettlement area in Esperanza, which can accommodate up to 100 nipa huts, was purchased last December. With that, we will embark on the groundbreaking and construction of the 50 nipa huts as soon as possible,” said Tetta Baad, chairperson of the Cebu City Tourism Council (CCTC) and Balik Cebu. According to Baad, the groundbreaking was initially scheduled last Jan. 4, but bad weather limited access to Pilar, Camotes, so the ceremony was postponed. Every year for the past 14 years, Balik Cebu, which is a program under the CCTC, has rolled out the red carpet to welcome balikbayans. Last January 2014, the organization embarked on a major campaign to help survivors whose homes were wrecked by super typhoon Yolanda last Nov. 8, 2013. Donations The Balik Cebu committee received tremendous financial support from the balikbayans, who expressed willingness to help typhoon survivors rebuild their homes, Baad said. For each 15-square-meter nipa hut, donors had to raise at least P35,000.Donations are still welcome for the next 50 houses. The Balik Cebu committee launched last Thursday the Balik Cebu Booth located near the concierge counter of Ayala Center Cebu. The booth, which is open from Jan. 8 to 18, allows balikbayans and tourists to purchase tickets for the Balik Cebu Homecoming Dinner on Jan. 15 at The Terraces, seats Read More …

Jan 072015
 

THE HOLIDAYS and gift-giving season may be over for some but it seems it is just getting started as far as our tax officials are concerned. As a belated gift to the hardworking employees making their contributions to the economic growth of our country, the Secretary of Finance, upon recommendation by the Commissioner of Internal Revenue, issued Revenue Regulations (RR) No. 1-2015 dated 5 January 2015. The RR expands the list of tax-exempt benefits to include those benefits received by an employee by virtue of collective bargaining agreements (CBAs) and productivity incentive schemes to the extent of P10,000 per employee per taxable year. De minimis benefits are facilities and privileges of relatively small value and provided by an employer to employees merely as a means to promote their health, good will, contentment, or efficiency. These benefits are exempt from withholding tax on compensation (WTC) and fringe benefits tax (FBT).

Jan 072015
 
DPWH sets  deadline  for CLLEX

MANILA, Philippines – The Department of Public Works and Highways (DPWH) is giving interested bidders a two-week extension to submit prequalification documents for the proposed P15 billion Central Luzon Link Expressway (CLLEX) connecting Tarlac to Cabanatuan City in Nueva Ecija. In a Notice of Postponement, DPWH undersecretary Alfredo Tolentino said the submission of prequalification documents for the first phase of CLLEX scheduled on Jan. 19 has been called off due to the scheduled visit of Pope Francis to the Philippines from Jan. 15 to 19. Tolentino said the deadline for the submission or prequalification documents for the public private partnership (PPP) project has to be deferred as Malacañang has declared Jan. 15, 16, and 19 as special non-working days in the National Capital Region. The deadline for the submission of prequalification documents has been postponed to Feb. 2. Tolentino pointed out that some contractors and bidders have requested that they be given ample time to secure or acquire necessary documents from the country of origin due to the long Christmas holidays. The first phase of the CLLEX project worth P14.9 billion would cover a 30.7-kilometer four-lane expressway stretching from Tarlac to Cabanatuan City in Nueva Ecija, while the second phase worth P14.2 billion covers 35.7 kilometer worth a two-lane expressway from Cabanatuan City to San Jose City, in Nueva Ecija. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 CLLEX forms an important lateral (east-west) link of an overall High Standard Highway network within the 200-kilometer radius from Metro Manila. Read More …