Economy – Page 42

Act expanding the benefits and privileges of PWDs — A closer look

Economy

Feb 122017

The Magna Carta for Disabled Persons enacted in 1992 affirms that the State shall give full support to the improvement and well-being of disabled persons and their integration into mainstream society. The results of the 2010 Census of Population and Housing (2010 CPH) reported that of the 92.1 million household population in the country, 1.4 million persons (or 1.57%) had some form of disability. Albeit laborious, the Philippines has improved in enforcing and promoting benefits and privileges for Persons With Disabilities (PWDs).

China backs emergency powers to ensure completion of PHL infra projects

Economy

Feb 102017

CHINA reaffirmed its commitment to the Philippines as a “reliable partner” in tourism and trade, with that country’s ambassador also supporting emergency powers for the Philippine government to ensure key infrastructure projects are not delayed beyond the current presidential term.

Net FDI up 59% in Nov. at six-month high of $756 million

Economy

Feb 102017

NET INFLOWS of foreign direct investment (FDI) to the Philippines in November hit a six-month high, reversing the outflow seen in October, with the year-to-date tally inching closer to $7 billion — well above the central bank’s full-year forecast for 2016.

Economic team rejects free tuition in state schools

Economy

Feb 092017

ECONOMIC managers said a free tuition policy for State Universities and Colleges (SUCs) will be ineffective, noting that tuition forms only a portion of a student’s expenses, while also putting the budget under pressure.

Senators want public debt capped at 50% of GDP

Economy

Feb 092017

THE SENATE is considering a ceiling on the amount of funds the National Government can borrow to secure macroeconomic stability.

Energy dep’t may extend deadline for contestable electricity customers

Economy

Feb 092017

THE Department of Energy (DoE) is open to extending the deadline for electricity consumers that belong to the “contestable” market to negotiate a power supply contract as the mandatory date for them to do so draws near.

Port cargo volume up 12% in 2016

Economy

Feb 082017

THE VOLUME of cargo passing through the country’s ports rose 12% in 2016, the Philippine Ports Authority (PPA) reported, mainly due to increasing trade and the growing economy.

BoC in big hiring push amid SSL exemption plans

Economy

Feb 082017

THE Bureau of Customs (BoC) is looking to upgrade its capabilities this year by filling empty positions, with bureau work expected to be made more attractive by an exemption from civil-service salary rules.

Supreme Court strikes down RR 2-12

Economy

Feb 082017

It is a basic rule that regulations may not enlarge, alter, restrict, or otherwise go beyond the provisions of the law they administer; administrators and implementors cannot engraft additional requirements not contemplated by the legislature. Five years ago, as a response to reports of smuggling of petroleum and petroleum products, and to ensure that correct taxes are paid and collected, the Secretary of Finance, pursuant to his authority to interpret tax laws and upon the recommendation of the Commissioner of Internal Revenue (CIR), issued Revenue Regulations (RR) No. 2-2012.

DoF concerned by finances of LGUs hosting mines

Economy

Feb 072017

THE Department of Finance (DoF) said that the revenue lost from the Environment department’s decision to close some mines will have a significant impact on municipalities, as they heavily rely on taxes paid by those miners.

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