TACLOBAN CITY — City Administrator Tecson John S. Lim said the city government could lose about P370 million in revenues from local taxes this year in the aftermath of typhoon Yolanda (international name: Haiyan).
Jan 212014
Jan 212014
WHILE trade in commercial services grew in the third quarter last year, the Philippines remained behind most countries in Southeast Asia, preliminary data from the United Nations Conference on Trade and Development (UNCTAD) showed.
Jan 212014
Aside from the lure of being able to experience the much-publicized freezing temperatures of the country’s summer capital, members of the motoring media who joined last week’s Fuel Eco Run of Mitsubishi Motors Philippines Corporation (MMPC) were also curious to find out the fuel performance of their latest market offering—the Mirage G4. That includes me. A total of 34 motoring journalists representing 16 media outfits joined the Mirage G4 Fuel Eco Run, which was made up of 10 Mirage G4s, divided into 5 with Manual Transmission and the rest with CVTs or Continuously Variable Transmission. The equal representation of the variants was obviously designed to demonstrate each model’s fuel efficiency. The meeting place for breakfast and distribution of uniforms, route notes, junk food snacks etc., was at the Mitsubishi Balintawak dealership in EDSA. The route to Baguio made us traversed through the NLEX, SCTEX and into the newly opened but partially finished TPLEX, which when finally fully-completed would run through Tarlac, Pangasinan all the way to La Union. To ensure that the test run to determine fuel performance would closely approximate normal driving conditions, all the Mirage G4s, after being filled by gasoline fuel “up to brim,” all aircon switches were sealed to make sure air-conditioning was on all throughout the trip, a major factor in fuel consumption. The journalists were divided into 10 teams with a Mirage G4 to drive for each team. Aside from determining the normally differing fuel performance of those with manual transmission from those with Read More …
Jan 202014
THE NATIONAL government’s outstanding debt grew by 5.5% annually as of November as the state continued to increase the domestic component of its liabilities, the Bureau of the Treasury said.
Jan 202014
THE COUNTRY has yet to decide whether to hale Thailand back to arbitration for failing to fully comply with a World Trade Organization (WTO) ruling concerning cigarette taxation, a Cabinet official said.
Jan 202014
AS WE usher in the New Year, some of us have set our new year’s resolutions or certain personal rules that we aim to follow throughout the year. Apparently, the Bureau of Internal Revenue (BIR) had a similar idea when it issued a new regulation to be followed by the taxpayers.
Jan 192014
THE LOCAL steel industry expects to grow by as much as 8% this year with reconstruction and rehabilitation activities following super-typhoon Yolanda (international name: Haiyan), an industry official said over the weekend.
Jan 192014
CEBU CITY — The annual Sinulog Festival has kept hotels and other accommodation facilities in Metro Cebu brimming with tourists as of yesterday, but industry players remain wary of difficulties throughout the first quarter.
Jan 192014
MANILA, Philippines – Energy Development Corp., the Lopez-owned geothermal company, is eyeing to restore all the units of its 650-megawatt Unified Leyte Power Plant by August. The power facility in Leyte, the single biggest source of electricity in the Visayas, shut down after Super Typhoon Yolanda damaged some units when it struck in some parts of the Visayas in November last year. “We should have all the units back in operation around August and possibly earlier depending on the availability of spare parts which is dependent on manufacturing lead time,” said EDC president Richard Tantoco. EDC has been able to repair the damaged facility in phases, successfully dispatching 292 MW to the Visayas Grid to date. “For Unified Leyte, we are now producing a total of 292 MW,” Tantoco said. Tantoco said the facility would definitely be back online at full capacity this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Last week, EDC said in a disclosure to the Philippine Stock Exchange (PSE) that the company has been able to run another unit of the Malitbog facility, allowing the plant to produce additional capacity of 75 MW. “EDC has successfully energized another unit of the Malitbog Power Plant, with an additional capacity of 75MW. Said unit is now on start-up mode and under reliability and other tests,” the EDC said in its disclosure. In early January, EDC restored the first unit with a capacity of 75 MW in coordination with the National Grid Corporation of the Philippines, Read More …
Jan 192014
MANILA, Philippines – Insular Life chairman of the Board and CEO Vicente R. Ayllón announced the appointment of Seraline Lloren Manguni as president and chief operating officer (COO) of Insular Life’s subsidiary, Insular Health Care, Inc. Manguni joined Insular Life’s Actuarial Division in 1991. Nine years later, she was seconded to Insular Health Care as vice president and actuary, and in 2003, as first vice president and actuary and head of actuarial and technical operations. She graduated magna cum laude with a degree in BS Statistics from the University of the East. She is a fellow of the Actuarial Society of the Philippines (FASP), fellow of Life Management Institute (FLMI) and member of International Actuarial Association (IAA). Insular Health Care is one of the top 10 health maintenance organizations (HMOs) in the Philippines in terms of capitalization, comprehensive healthcare packages and service delivery. It offers one of the industry’s most comprehensive healthcare programs in the market with the flexibility to meet specific needs of its members.