CEBU/ILOILO — Rolling power outages hit Iloilo City after an 82-megawatt (MW) generating unit was shut down due to a boiler tube leak, highlighting the need for additional base load plants to boost energy reserves in the Visayas.
Jun 112014
Jun 112014
IN CLAIMING a refund of unutilized input value added tax (VAT) that is attributable to zero-rated sales, it is imperative to prove that the billing documents are duly registered with the Bureau of Internal Revenue (BIR) at the time of the sale transaction. In a recent case, the Court of Tax Appeals (CTA) held that the absence of such proof was fatal to the VAT refund claim.
Jun 112014
Michael Cinco dreams of dressing up Angelina Jolie, Julia Roberts and Cate Blanchett.
Jun 112014
MANILA, Philippines – Singapore-based DBS said yesterday the weak export growth in April will have a limited impact on the country’s gross domestic product (GDP) growth. “Any impact on overall GDP growth is likely to be limited,” DBS said in a research note. “The main support for the economy has come from domestic demand, which remains robust and likely to continue supporting overall GDP growth above the six percent mark for at least the next couple of years,” the bank said. The country’s merchandise exports grew by only 0.8 percent to $4.544 billion in April from a revised $4.51 billion a year ago. The Philippine Statistics Authority attributed the slower growth to the contraction in the shipments of electronic products, the country’s top export commodity. This brought the four-month tally to $18.859 billion, up 5.4 percent from the same period last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The government expects merchandise exports to grow by six percent this year over 2013 levels. Philippine economic growth, meanwhile, is forecast to settle between 6.5 percent and 7.5 percent. Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. earlier said economic growth may settle at a “more moderate pace” following the 7.2 percent expansion recorded last year. “On broad expectations, we think that the authorities would be very comfortable even if GDP growth were to come in the lower half of the six to seven percent range,” DBS said. The bank expects the economy growing 6.3 percent this year. Read More …
Jun 112014
MANILA, Philippines – Selective buying allowed the local stock barometer to rebound despite mixed performance of overseas markets and the World Bank’s cut in its global economic growth forecast. The Philippine Stock Exchange index recovered 0.46 percent or 31.20 points to finish at 6,809.18, while the broader all shares index inched up 0.13 percent or 5.39 points to 4,076.01. “It seems like market is still in a consolidation mode. But despite the drop in Asian markets given the World Bank’s downgrade, investors continue to pick up stocks that will perform well for the year,” Astro del Castillo, managing director of First Grade Finance Inc., said in a phone interview. Del Castillo said the direction of the local bourse continued to be influenced by economic reports here and abroad. The World Bank yesterday trimmed its 2014 global economic growth forecast to 2.8 percent from 3.2 percent announced in January amid slower growth in developed countries and geopolitical tensions. Japan’s Nikkei 225 rose 0.5 percent or 74.68 points to 15,069.48 but other regional indices like Hong Kong’s Hang Seng and Singapore’s Straits Times retreated. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Wall Street also ended mixed on Tuesday, snapping the string of record closing of the broad-based Standard & Poor’s (S&P) 500 index as the stock market took a breather. The Dow Jones industrial average barely rose 0.02 percent or 2.82 points to a record high 16,945.92, while the broader S&P 500 fell 0.02 percent or 0.48 point to 1,950.79.
Jun 112014
Ken Alfonso jumpstarts showbiz career with a single titled “Umaasa.”
Jun 112014
Jessica Soho sees her awards as a push to do better and better as a broadcast journalist.
Jun 112014
Phil and James played with football stars of Manchester United Legends Paul Scholes and Andy Cole.
Jun 112014
By Bong LozadaINQUIRER.net 1:00 pm | Wednesday, June 11th, 2014 MANILA, Philippines – An Australian sailor was dropped off here by his submarine on a medical emergency after he was found to be suffering from appendicitis, a Philippine Navy official said Wednesday. “They were in international waters on Sunday, when the emergency happened, they asked assistance from the Navy Central Command in Cebu,” said Commander Gerald Gregory Fabic, public affairs office chief. Fabic said the Australian submarine was forced to dock at the nearest pier, which happened to be in Tacloban after which the sailor was brought to Manila where he was treated. Fabic said that there were no international protocols breached as it was a medical emergency and the diplomatic clearances were provided for the sailor, whom Fabic did not identify. The Australian sub, which Fabic also did not name for security purposes, met with the BF339 of the Philippine Navy to bring the sailor, first, to a Tacloban hospital. “Tests were conducted and it was found out that the sailor had appendicitis,” Fabic said. He added that a flight to Manila was booked for the sailor and an officer escort. The Australian submarine will be leaving the Philippines on Sunday. Officials from the Australian Embassy here would take care of the soldier and plan his return to Australia. RELATED STORIES PH Navy sends team to Australia for first time for training exercises with counterparts Australian navy ship arrives in Cebu for relief operations Follow Us Other Stories: DFA: Read More …
Jun 102014
By Matikas SantosINQUIRER.net 11:46 am | Wednesday, June 11th, 2014 INQUIRER FILE PHOTO MANILA, Philippines – There may be fewer lines at the Ninoy Aquino International Airport (Naia) once the terminal fees become included in the price of airline tickets by October 2014, the Department of Transportation and Communications (DOTC) announced Wednesday. The Manila International Airport Authority (MIAA) is set to sign a memorandum of agreement with air carriers to have the international passenger service charge (IPSC), more commonly known as terminal fee, included in the purchase of the ticket. “It improves traveling convenience and efficiency at Naia by removing a whole process which unnecessarily adds to the passengers’ processing time, requiring them to line up when payment can be done ahead of time,” DOTC Secretary Jun Abaya said in the statement. DOTC said that the new policy will free up space in the terminals because the terminal fee counters will be removed. It will also put the Philippines at par with neighboring countries in Southeast Asia since Philippines is the last remaining country which collects terminal fees in the airport premises. The integration program will begin in October 2014, with a one-year transition period ending in September 2015. Full implementation of the policy will be in October 2015. A terminal fee of P550 is collected per departing passenger. DOTC said that from this amount, P390 is MIAA’s share for maintenance and upkeep, P100 goes to the National Government, and P60 is for aviation security. Domestic terminal fee to be integrated into airline ticket Read More …