Economy – Page 326

Largest solar rooftop panel powers up mall in Biñan

Economy

Sep 202014

Largest solar rooftop panel powers up mall in Biñan

MANILA, Philippines – The largest self-use solar rooftop power plant in the country was launched yesterday at a shopping mall in Laguna. The 700-kilowatt Central Mall Biñan solar rooftop project is part of the country’s efforts to promote the use of renewable energy and reduce the public’s dependence on coal-fired power plants. Premiumlink Development Corp., the company operating Central Mall Biñan, tapped Solar Philippines which designed, constructed and installed at zero upfront cost the entire system. Solar Philippines and Premiumlink signed a purchase power agreement wherein the energy generated by the solar power plant is sold to the establishment for its own consumption, at a rate lower than the usual electricity rates in the area. With the power plant on its roof augmenting 30 percent of City Mall Biñan’s total energy consumption, the mall’s management is able to save more than P100,000 monthly on electricity bills. Spreading over 700 square meters of sunlit roof space, the solar power plant is made up of 2,514 top quality solar panels on steel mounting structures that can withstand wind speeds up to 200 kph. The energy generated by the panels is converted into electricity by 87 inverters, ready to be used by the mall tenants, administration and mall goers, Solar Philippines said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Central Mall Biñan solar rooftop project is the first solar project granted loan financing by one of the country’s biggest banks, Ayala-owned Bank of the Philippines Islands (BPI). Furthermore, the project Read More …

Batuhan: The good, the bad and the ugly

Economy

Sep 192014

WE KNOW this by now, and we acknowledge this fact: overseas Filipino workers (OFWs) are indeed the new heroes of the country. Despite unrest in the overseas markets where they work, their contributions to the economy continue to increase unabated. The Bangko Sentral ng Pilipinas (BSP) estimates that for the first half of this year alone, their contribution to the national coffers by way of inward remittances has reached $12.7 billion, some 12 percent better than in the same period last year. This despite the fact that many of their traditional work places in the Middle East have been in intense conflict situations, and notwithstanding the forced repatriation of thousands of their colleagues from these strife-torn locations. The Philippine Overseas Employment Administration estimates that today, there are about 2.3 million Filipinos working abroad at any one time. This is equivalent to a fairly large city in the Philippines, something just under the size of present-day Quezon City. However, the demographic impact is more telling than just the mere numbers suggest. Most OFWs are the sole breadwinners in the families; the father, mother or eldest sibling, working abroad to support family in the Philippines. This means that about 2.3 million families are directly affected by the OFW phenomenon, assuming that one OFW worker belongs to one household back home. At least 10 percent of all Filipino households know what it means to have one member of the family abroad, a staggering amount by any measure. The sad tales are familiar. Money Read More …

BIR amends broker accreditation rules

Economy

Sep 182014

THE BUREAU of Internal Revenue (BIR) has amended its rules in accrediting customs brokers and importers which serves as a requisite for accreditation at the Bureau of Customs (BoC).

Single import permit scheme mulled

Economy

Sep 182014

PRODUCTS THAT require import permits from several government agencies will soon be codified into a single reference system as the Customs Bureau aims to improve the compliance of importers in meeting safety requirements.

Bidding procedure for Bulacan water project deferred

Economy

Sep 182014

THE SUBMISSION of prequalification documents for the P24.4-billion Bulacan Bulk Water Supply Project has been deferred again, an official from the agency-in-charge said yesterday.

Legal hurdles, continuity hound PPP program

Economy

Sep 162014

THE PHILIPPINE’S public-private partnership (PPP) program needs reforms that will help market the country as a potential destination for investors keen on developing national infrastructure projects, an Asian Development Bank (ADB) official said.

ASEAN integration still far-off

Economy

Sep 162014

ASIAN business leaders said that the coming Association of Southeast Asian Nations (ASEAN) economic integration by end-2015 may take years longer to be fully implemented, as many countries still need to address concerns such as non-tariff barriers hampering free trade in the region.

Internet connectivity as a basic service’ pushed

Economy

Sep 162014

IT IS high time for the government to step in to improve Internet connectivity in the Philippines, Senator Paolo Benigno “Bam” A. Aquino IV yesterday said, suggesting that the technology be a basic service offered by the country’s telecommunication companies.

AFPCA Auto Poll Goes On-site at PIMS

Economy

Sep 162014

MANILA, Philippines – The ongoing online poll of the Auto Focus People’s Choice Awards (AFPCA) will be made available to visitors of the forthcoming 5th Philippine International Motor Show (PIMS) that will be held at the World Trade Center this Sept. 18-21. Sunshine Television (STV), the organizer of the poll-based merit award program specific to the local automobile industry, will open an on-site polling center at the motor show venue to enable the public to participate in this annual public poll that determines the country’s most popular automobile brands and models. The 3-month AFPCA voting period which got underway last July 1 is at its homestretch and will end midnight of September 30. 2014. Vying for “2014-2015 Model of the Year” honors is a banner field that is divided into Standard and Luxury categories. In this year’s undertaking of the AFPCA, a separate and much-coveted “2014-2015 Automobile of the Year” title will be awarded for each category for the first time. “Currently accessible to voters on-line via our website at www.autofocus.com.ph and through a dedicated page on the most popular social networking site, we at STV are delighted to bring the AFPCA poll on the ground and within easy reach at the venue of a well-attended and sought after event such as the Philippine International Motor Show.” explained Ray Butch Gamboa, Chairman/CEO of STV. “Considering that practically each model on display and available for test drive during the PIMS is also a candidate for possible awards in the AFPCA, the Read More …

Long-term solutions to the country’s traffic woes needed

Economy

Sep 152014

BAND-AID SOLUTIONS to ease the traffic gridlock in the Philippines — which has fanned inflation and impaired productivity — should be paired with long-term measures in order to completely address the issue, an Asian Development Bank (ADB) official said.

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