THE ENERGY Regulatory Commission (ERC) has approved standards to govern the operation and maintenance of small power grids, or those that are not connected to the national grid in Luzon, Visayas and Mindanao.
Jul 182013
Jul 182013
MANILA, Philippine (Xinhua) – Investors repositioned themselves in the local equities today sending the local index rallying back to the 6,600 level. The bellwether Philippine Stock Exchange index jumped by 1.12 percent or 73.63 points to 6,648.35. The broader all-share index rose by 1.11 percent or 44.47 points to 4,051.34.Trading volume reached 2.35 billion shares worth P7.43 billion ($170.96 million) with 109 stocks advancing, 35 declining, and 46 unchanged. All six counters were up. Online brokerage 2TradeAsia.com said the lack of leads locally and overseas might have motivated some investors to seek guidance to the performance of the Dow Jones industrial average index on Wednesday. Dow Jones was up by 18.67 points ahead of US Federal Reserve Ben Bernake’s statement. The US Fed’s statement is among the most awaited development as it would give investors hint on the next move of the US “The spotlight might revert to institutional fund managers’ reaction to Fed chief Bernanke’s statement before the US Congress, specifically on indications as to when they would slow on their earlier planned $80 billion per month bond purchase plan,” 2TradeAsia.com said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Analyst Justino Calaycay of Accord Capital Equities Corp. said in his daily stock market comment that since the local index hit the low of 5,789.06, it has drawn a “higher high, higher low pattern in the succeeding 15 sessions.” The narrowing gap between the resistance line and support line, he said, indicates that investors are quick to withdraw Read More …
Jul 182013
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) will consider how the dovish statements from the United States Federal Reserve will impact on local growth and inflation outlooks as it sets policy next week, its top official said on Thursday. “We will consider the impact of the Fed guidance, market sentiment and actual flow of funds on global and domestic growth and inflation dynamics,” BSP Governor Amando Tetangco, Jr. said in a text message to reporters. On Wednesday night, US Fed Chairman Ben Bernanke told American congressmen that the $85-billion bond buying program, initially thought to be coming to an end, is “not on a preset course,” suggesting it could keep policy accommodative. Over the past month, Asian financial markets, including those from the Philippines, suffered huge losses after the world’s superpower indicated it could taper off cheap money from its quantitative easing “later this year” on signs of recovery. With the latest statement, Tetangco said the US Fed is trying to help investors digest its next move and “hopefully markets will be more circumspect this time around” before making any bets. Thus, investors, he said, are expected “not to place or extend large one way bets” which “often create their own stages for panic by overshooting before and after the fact.” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Last month, the Philippine Stock Exchange index dropped by as large as 6.5 percent, while the peso weakened toward the 44-peso mark versus the dollar. They have since Read More …
Jul 172013
THE GOVERNMENT’S outstanding debt rose year on year by 4.2% in May as the state continued to increase domestic borrowings, data from the Bureau of Treasury showed.
Jul 172013
YESTERDAY’S bidding for phase two of a classroom building public-private partnership (PPP) project was again rescheduled to give interested investors more time to prepare their offers.
Jul 172013
SUPERSTITIOUS PEOPLE may view the 13th of the month as an inauspicious date whenever it falls on a Friday. When it falls on a Saturday, it generally doesn’t attract the same sense of dread. Revenue regulations like the one issued last Saturday, however, may soon change that.
Jul 172013
Photo shows (from left) Lou de Guzman, board director and auditor of PRSP; Hans Roxas Chua, co-director of the CDM program by the IIDM; Yoly Crisanto, APR, president of PRSP; Gerald Corteza, strategic business development manager, ELearning EDGE and Claire Papa, board director and chair of PRSP’s professional development committee. MANILA, Philippines – The Public Relations Society of the Philippines (PRSP), the largest and most recognized organization of PR practitioners and business communicators in the Philippines, is offering a certificate program in Digital Public Relations (Digital PR) through a partnership with the Certified Digital Marketer (CDM) program by the International Institute of Digital Marketing (IIDM). The program is targeted at PR and marketing communications practitioners who would like to hone their communication skills and at the same time learn how they can use digital and social media platforms in carrying out their campaigns. The course runs for a period of three months, after which the graduate will be given the title: Certified in Digital Public Relations (CDPR) Under a memorandum of agreement with IIDM, PRSP will lend its expertise in the field of public relations and communications in designing the modules which will be used throughout the course while the IIDM will provide digital marketing training modules and facilitate its administration. Also, PRSP’s high standards of gauging communication excellence will also serve as the program’s benchmark in certifying the graduates. “We are happy to renew our partnership with the IIDM as this will help us achieve the vision of the Read More …
Jul 172013
On his 4th State of the Nation address, President Benigno Aquino III will hark on some outstanding accomplishments that most past presidents have not been able to deliver. First off will be the upgrade in investment status by two major credit rating institutions, Fitch Ratings and Standard and Poor’s, and the recent hint by another agency, Moody’s Investors Service, that it may lift the country’s rating later this year. All these are cognizant of the upbeat tempo in the economy the past year as gleaned from the strong GDP reports, improved tax collections and the better fiscal condition of government, and returning optimism among foreign investors to park their money in the country. The legislative has nonetheless also contributed a significant share, largely by passing measures such as the sin tax law that have raised collections by and impressive 28.2 percent year-on-year compared to the 12.4 percent figure in 2012. There will be more upbeat statements that we can expect from P-Noy as he addresses his “new” and old colleagues in Congress, those who have been given the mandate to rule our legislature for at least the next three years. It’s a relief that the last May elections had delivered to the current presidency a political government on the local, Lower House and Senate levels that is supportive and looks favorably on P-Noy’s leadership. This augurs well for the final stretch of the President’s six-year term. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In truth, time will fly, Read More …
Jul 172013
MANILA, Philippines – President Aquino has appointed former chairman of the Land Transportation Franchising and Regulatory Board Nelson Laluces as Deputy Director General of the Intellectual Property Office (IPO). Laluces replaced Andrew Michael Ong and will serve until Dec. 2017. Laluces, 54, was appointed LTFRB chairman in Sept. 2010. He is also a lawyer by profession, and counts many members of Aquino’s Cabinet as classmates. Presidential Spokesman Edwin Lacierda also announced the appointment of Rey Roderos as assistant director general of the National Security Council headed by director general Cesar Garcia Jr. Roderos replaced Fernando Mesa and will serve until June 2016, when Aquino steps down. Deputy presidential spokesperson Abigail Valte also announced several appointments, among them seven new commissioners of the National Commission on Indigenous Peoples (NCIP) for a term expiring on Feb. 20, 2016. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The officials are Zenaida Brigida Pawid for Region I and the Cordilleras, Percy Brawner for Region II, Bayani Sumaoang for Region III and the rest of Luzon, Dionesia Banua for Island Groups including Mindoro, Palawan, Romblon, Panay and the rest of the Visayas. Datu Cosme Lambayon for Northern and Western Mindanao, Leonor Oralde-Quintayo for Southern and Eastern Mindanao and Era Colmo España for Central Mindanao. Aquino has also appointed Teresita Inciong as the executive director of the Early Childhood Care and Development Council. He likewise named Ma. Gloria Abragan-Tango as acting Assistant Secretary of the Department of Labor and Employment. The appointment paper of Tango was Read More …
Jul 172013
MANILA, Philippines – The Center for Global Best Practices, in collaboration with Sycip Salazar Hernandez and Gatmaitan Law Offices, is holding a pioneering seminar titled ‘Best Practices in Handling Customs Tax Audits & Remedies’, Aug. 7, at the Peninsula Manila, Makati City, Philippines. This special program is designed to help importers learn how to deal fairly and squarely with the Bureau of Customs (BOC). Empower yourself and your organization by knowing about the importers rights that matter, understand the BOC’s basis of assessment/ audit to save you on unnecessary taxes, know what to do incase of warrants and seizures, and learn how to craft letters to challenge the valuations/ under-declaration charges imposed by the BOC. This solutions-oriented program will tackle comprehensively the administrative, judicial, procedural and substantive remedies to problems encountered by importers on issues of customs tax and duties with the BOC. The expert practitioners in this field will share their best practices, important lessons, real stories, updates and cases decided by the Court of Tax Appeals and Supreme Court. For more details and a complete list of seminars, check www.cgbp.org. You may also call (02) 556-8968/ 69 in Manila; (032) 512-3106/ 07 in Cebu; or (074) 423-5148 in Baguio. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This one-day event will feature Domingo G. Castillo, expert practitioner in this topic and partner in the largest law firm in the country, SyCip Salazar Hernandez & Gatmaitan Law Offices.