Maniolas

TOP TECH INVESTOR Dave McClure of 500 Startups (center) was in Cebu for Geeks On A Beach. With McClure are TechTalks.ph founder Tina Amper (left) and IdeaSpace founder Earl Valencia. Geeks On A Beach was one of the biggest tech events to be held in Cebu this year.  (SUN.STAR FILE) CONSIDERED one of the top growth drivers of Cebu and Central Visayas, the information technology and business process management industry has transformed many lives of locals. Although consistently showing huge growth numbers, the Cebu Educational Foundation for Information Technology (Cedf-IT) and the National Economic Development Authority (Neda) believe the official figures are still lower than what the industry produces. Cedf-IT and Neda 7 are teaming up to better understand the local IT-BPM industry and validate actual employment and revenue figures being produced. According to the Neda 7, the first quarter of 2014 employed 29,000 new workers while the second quarter employed about 30,000.However, these figures were culled from firms registered with the Philippine Economic Zone Authority (Peza). “There are many IT-BPM companies that are not located in IT parks and are not part of the official reports right now,” said Neda 7 Director Efren Carreon. Employment figures He said there are legally registered, small-scale companies scattered about but are not included in the final reports because of their locations. He admitted these companies may be small, but he said even a startup with two to three employees could serve a large market and earn a substantial amount in revenue. He hopes, Read More …

MANILA, Philippines – The Bureau of Treasury (BTr) has postponed anew  the implementation of a non-restricted trading and settlement environment for government securities. This marks the second time the program was deferred.  It was originally scheduled to be implemented last Nov. 21. In a notice dated Dec. 23, National Treasurer Rosalia De Leon said the implementation of the new system has been moved to Feb. 2, 2015 instead of Jan. 5 to give concerned parties ample time to address operational concerns and other preparatory activities. De Leon said this should allow a smooth transition to non-restricted trading and settlement environment. The BTr is unifying the taxable and tax-exempt segment of the market by lifting the current restrictions to boost liquidity in the secondary government securities market. Under the new system, government securities may be traded by various entities, regardless of their tax category or classification, in any securities trading market accredited by the BTr. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Securities held by government-owned and controlled corporations (GOCCs) and local government units (LGUs) may be transferred prior to maturity only with GOCCs and LGUs which maintain securities account in the book entry of the BTr. Transfers between market participants will likewise be allowed regardless of tax status. Tax-exempt institutions currently account for 21 percent of government securities, mostly held-to-maturity. Finance Secretary Cesar Purisima said the lifting of trading restrictions will allow the BTr to engage, designate, or employ facilities or systems that would enhance the existing registry Read More …

The government posted a surplus in November as the decline in spending outpaced the slight drop in revenue collection during the month, the Department of Finance yesterday said. According to the DOF, a surplus of P6.8 billion was registered in November, 582 percent higher than the P1 billion posted in the same month last year. Even as revenue collection slipped by 4 percent to P158.2 billion in November from P165 billion last year, expenditures slid by a bigger 8 percent to P151.4 billion from P164 billion a year ago. November’s surplus exceeded the P6.008 billion programmed for the month. In January to November period, revenues maintained double-digit growth, posting an 11-percent rise in collections to P1.736 trillion from P1.566 trillion a year ago. Government expenditures, meanwhile, registered a mere 5 percent increase in the first 11 months to P1.762 trillion from P1.677 trillion last year. The end-November deficit stood at P26.8 billion, 76-percent lower than the P111.5 billion registered between January and November 2013. Finance Secretary Cesar Purisima. INQUIRER FILE PHOTO The deficit as of end-November was way below the program of P238.294 billion for the 11-month period, reflecting anemic government spending on infrastructure and public services despite robust revenue collection. For Finance Secretary Cesar V. Purisima, the lower deficit was nonetheless a good thing. “With the recent Moody’s credit ratings upgrade, as well as improved scores in the Millennium Challenge Corp. scorecard leading to our eligibility for a second compact, one thing is clear: the Philippines is in a Read More …

MANILA, Philippines – Investment pledges approved by the Board of Investments (BOI) fell 24 percent in 2014 compared to a year ago. In a statement yesterday, the BOI said total investments approved reached P354.5 billion in 2014, down from P466.03 billion in 2013. BOI managing head Adrian Cristobal Jr. attributed the decline to “fewer applications for energy-related projects this year.” “But overall, there are more projects this year, 294 compared to 282 last year, with 54 percent more jobs projected (at) 58,619 (this year) compared to 38,100 last year,” he said in a text message. “There are more decent and quality jobs expected with these projects,” he added. Bulk or 90 percent of the investment commitments made with the agency came from domestic firms amounting to P317.69 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The remaining 10 percent was accounted for by foreign companies with investment pledges amounting to P36.85 billion. By sector, electricity, gas, steam and air conditioning supply continued to get the biggest share of total investments with P174.7 billion. The construction sector came in second with investments amounting to P64 billion, followed by mass housing which had P47.7 billion, manufacturing with P24.5 billion, and transportation and storage ice activities with P20.8 billion. Projects which had the biggest investments for the period include St. Raphael Power Generation Corp. which will build two coal-fired power plants in Balayan and Calaca in Batangas amounting to P63.17 bilion, GNPower Kauswagan Ltd. Co. which will put up a 540-megawatt Read More …

THE renewal of business permits will start on January 3, 2015 at the City Council and NCCC Mall of Davao in Matina. It will run until January 20. The Business Bureau will be accommodating renewal application on weekdays and weekends. Maribel Paguican, assistant head of the Business Bureau, told Sun.Star Davao in a phone interview that they will be offering all of their services at the Sangguniang Panlungsod, aside from the renewal of permits, while their one-stop shop at NCCC Mall of Davao will only transact applications for renewal. She also said Councilor January Duterte, president of Association of Barangay Captains, issued a memorandum that Barangay Halls will be open on weekends to cater to business owners who will get their barangay clearance. Requirements needed for renewals are previous Mayor’s or business permit; notarized list of all employees; authority to transact the renewal of Mayor’s or business permit with the Business Bureau, special power of attorney for sole proprietorship, secretary’s certificate for corporations, and partnership resolution for partnerships; clear copy of valid ID of all signatories and the transacting person; original copy of barangay clearance; certified copy of Proof of Exemption, if any; and available financial statment of the previous year. However, the office said “additional documents may be required depending on the line of business engaged in.” Paguican said they are expecting some 30,000 to 35,000 business establishments to renew their Mayor’s or business permit. The schedules at Sangguniang Panlungsod and NCCC Mall of Davao are: 8 a.m. to Read More …