Semirara compliant with environmental rules – DOE

 Economy
Sep 242016
 
Semirara compliant with environmental rules – DOE

MANILA, Philippines – The Department of Energy (DOE) has cleared Consunji-led Semirara Mining and Power Corp. of all environmental-related issues based on audits it conducted with the Department of Environment and Natural Resources (DENR). Semirara said a copy of the report was provided by Energy Secretary Alfonso Cusi to company chairman Isidro Consunji on Sept. 21. In the report, the DOE said the mining firm was not found guilty of the alleged violations committed based on complaints of the local communities in Antique. “The DOE audit team verified that the mining operation of SMPC does not discharge toxic materials to the mangroves, the sulfur content of the coal if below one percent, there is no seaweed farm affected, and the dumping of overburden materials does not affect the nearby housing communities,” the report read. The DOE report followed the environmental audit by the DENR-Environmental Management Bureau (EMB) that found the company in compliance with all required metrics meant to protect the environment in and around Semirara island. The EMB report also said Semirara was fully in compliance with its commitments to the community on the island through various programs including education and skills training, livelihood, economic empowerment, inland and mangrove reforestation, among others. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Earlier this week, Semirara disclosed to the Philippine Stock Exchange the EMB Region VI audit report on its Molave expansion project, saying the company fully complied with all the conditions of the environmental compliance certificate (ECC) including proper Read More …

Globe completes TV white space trial for broadband

 Economy
Sep 242016
 
Globe completes TV white space trial for broadband

In a statement yesterday, Globe said it is the first telco in the Philippines to adopt the TV white space frequency for broadband use. File photo MANILA, Philippines – Globe Telecom Inc. has successfully completed a TV white space trial for broadband use, a move that is seen to help the telco provide internet connectivity even in hard to reach rural areas. In a statement yesterday, Globe said it is the first telco in the Philippines to adopt the TV white space frequency for broadband use. “The TV white space provides us with another means to bridge the Digital Divide in remote rural  areas where traditional means of backhaul such as fiber or multi-hop microwave terrestrial backhaul does not make it economically viable for telecommunication providers to deploy broadband facilities,” Emmanuel Estrada, Globe senior vice president for network technologies strategy, said. TV white space refers to the unused TV channels between the active ones in the VHF (very high frequency) and UHF (ultra high frequency) spectrum. While these channels were typically referred to as buffers placed between active TV channels to protect broadcasting interference, it has been found such can be used to provide broadband internet access while operating harmoniously with surrounding TV channels. Utilizing TV white space for internet service is a relatively new technology as TV broadcast began transitioning from analog to digital. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Estrada said the TV white space trials were conducted to allow the Ayala-led telco to maximize Read More …

Business groups back proposed tax reforms

 Economy
Sep 232016
 
Business groups back proposed tax reforms

“Having fair, simple and easy-to-comply tax laws will help improve the ease of doing business in the country and will encourage more local and foreign investments,” the Management Association of the Philippines (MAP) said in a statement yesterday. STAR/File photo MANILA, Philippines – Local business groups have reiterated their support to the Duterte administration’s tax reform plan, citing its importance in making the country a more attractive investment destination. “Having fair, simple and easy-to-comply tax laws will help improve the ease of doing business in the country and will encourage more local and foreign investments,” the Management Association of the Philippines (MAP) said in a statement yesterday. “The MAP fully supports the tax reform package of the Duterte administration for a simpler, equitable, and efficient tax system that would encourage voluntary compliance, lower the compliance cost, promote progressivity, and expand the tax base while spreading the tax burden,” the group added. The MAP is urging the Department of Finance (DOF), the Senate, and the House of Representatives to exhaust all possible means to make the tax system simpler to administer, fairer to taxpayers, and more attractive to investors. The business group said the enactment of a holistic tax reform measure would correct current inequities, encourage compliance, and pursue measures that would counter the effects of tax rate adjustments. The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization,  has also aired its support to the comprehensive tax reform program being proposed by the DOF. Business ( Article Read More …

As DA review on QR starts rice import policy in limbo

 Economy
Sep 232016
 
As DA review on QR starts rice import policy in limbo

MANILA, Philippines – The country’s policy on rice imports remains in limbo as the Department of Agriculture (DA) is just starting to review the possible extension of the quantitative restriction on the main Filipino staple food. “There’s no decision yet. We are doing consultations nationwide with the stakeholders. There are ways to hack it through renegotiations,” Agriculture Undersecretary for Policy and Planning Segfredo Serrano told reporters. Agriculture Secretary Emmanuel Piñol has made public his stand on seeking another extension of the QR by least two more years. Should the Philippines decide to extend the QR, World Trade Organization (WTO) member-countries that wish to seek concession for allowing the extension would have to negotiate with the country, which would normally take at least one year of negotiations. In 2014, the Philippines under former president Benigno Aquino III won approval of the WTO to keep import restrictions for three more years to June 2017. The previous administration took two years to renegotiate the extension. “If it would be painless and just extend for two years, then we retain the same concession. If they (WTO members) will ask for more in terms of rice, we don’t have a problem if it’s reasonable. But, they could ask conceivably concessions outside of agriculture which we may be sensitive,” Serrano said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said Congress would need to amend the Agricultural Tariffication Act. Under the law, only rice is protected by the QR and it did not specify Read More …

Market jitters wipe out PSEi gains

 Economy
Sep 232016
 
Market jitters wipe out PSEi gains

The benchmark Philippine Stock Exchange index (PSEi) declined 38.75 points, or 0.49 percent, to settle at 7,723.60, while the broader All Shares index shed 16.34 points, or 0.35 percent to finish at 4,586.71. STAR/File photo MANILA, Philippines – The local stock market erased whatever gains it booked on Thursday after the US Federal Reserve decided to keep rates steady. The benchmark Philippine Stock Exchange index (PSEi) declined 38.75 points, or 0.49 percent, to settle at 7,723.60, while the broader All Shares index shed 16.34 points, or 0.35 percent to finish at 4,586.71. The rest of counters closed in negative territory except for the mining and oil and the property sectors, which gained 1.39 percent and 0.03 percent, respectively. Total value turnover reached P7.61 billion as advancing stocks outnumbered decliners, 90 to 89 while 51 stocks were left unchanged. Analysts said stock market investors are becoming jittery over President Duterte’s rhetoric and the spate of extrajudicial killings. Standard & Poor’s, a global debt watcher, has warned that stability and predictability of policy making in the Philippines has diminished somewhat with the President’s statements. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The President has a strong focus on improving ‘law and order,’ which has allegedly resulted in numerous instances of extrajudicial killings since he came to power. We believe this could undermine respect for the rule of law and human rights, through the direct challenges it presents to  the legitimacy of the judiciary, media, and other democratic institutions. When combined Read More …

New US government critical to BPO, OFW cash flows

 Economy
Sep 232016
 
New US government critical to BPO, OFW cash flows

Moody’s Investors Service said cash remittances and the income of the business process outsourcing (BPO) sector in the Philippines would be affected by a shift in US policies under the next administration. STAR/File photo Moody’s warns of policy shift MANILA, Philippines – Moody’s Investors Service said cash remittances and the income of the business process outsourcing (BPO) sector in the Philippines would be affected by a shift in US policies under the next administration. In a research note Moody’s said the outcome of the Nov. 8 presidential elections in the US could range from a continuation of the status quo to a gradual retrenchment from trade and investment ties, and curbs on immigration. The rating agency said remittances to Asia including the Philippines could weaken if US tightens immigration rules. “Immigration has been another major focus of the US election campaign. A tightening in immigration rules in the US would over time dampen growth in remittances to other countries, which are significant for some Asia-Pacific sovereigns,” Moody’s said. Moody’s said remittances from the US accounted for 3.3 percent of the country’s gross domestic product (GDP) and 9.2 percent of the current account (CA) surplus last year. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances from overseas Filipinos inched up three percent in the first seven months after contracting 5.4 percent in July alone. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Money sent home by Filipinos abroad reached $15.32 billion from January to July, $449 Read More …

Your internal operation system

 Economy
Sep 232016
 
Your internal operation system

You and I are familiar with terms like IOS and Android. These are the internal operating systems of our mobile phones and other gadgets. When a “virus” enters it and when the internal operating system is affected by it, then the entire device does not work with full efficiency. In some other cases, the contents of the device just get decimated. Have you ever experienced a big “win” whether in business or in other things? You worked hard for it, you prepared for it and you practically invested a major part of your time, attention, talent, energy and even your life into it and once you get the expected outcome, the expected ecstasy of joy and celebration was just not there. Perhaps, this is why we have a phrase for it that says: “The hunt is better than the kill.” Like finding gold in a mine, I discovered Dr. Dallas Willard addressing this issue and then, it all makes sense. Dallas Willard is a philosophy professor who passed away just a few years ago but was considered as one of the most influential thinkers in America. Allow me to share some of his thoughts and interject with a few side comments of mine. Willard asks a question: Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “What makes you smile and what claims your energy?” These are the things that claim your soul. When Jesus says: “What profits a man even if he gains the whole world and loses his Read More …

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