Maniolas

MANILA, Philippines – The National Power Corp. (Napocor) is set to increase the operating hours of its small power plants in far-flung villages around the country. Napocor president Ma. Gladys Cruz-Sta. Rita said the state-owned corporation is extending the operating hours of 53 power plants under its so-called Small Power Utilities Group (SPUG). The group provides electricity to remote areas that are not connected to the grid. Sta. Rita said Napocor would extend the operations of the plants with an additional two to four hours in 20 plants in Luzon, 25 plants in Visayas and eight plants in Mindanao, benefiting a total of 22,841 households. At present, the operations of the power plants in these areas vary from five, eight, 10 to  or 12 hours. “Through extension of operating hours, we hope to spur economic activities in the missionary areas, thus, improving the quality of life of our customers in far-flung islands,” she said. A total of 10 of the 53 power plants, which have slim power reserve will have to wait for the scheduled commissioning of new generating sets to increase  operating hours to avoid power outages or load shedding, she said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Originally, Napocor planned to increase the plants’ operating hours next year but Sta. Rita said the company can already accelerate the plan given enough resources. She said that since the corporation enjoyed good financial standing and sufficient fuel supply, it can already proceed this early. Napocor has allotted Read More …

MANILA, Philippines – Only 63 percent of the total 14,955 importers and customs brokers applied for accreditation with the Bureau of Internal Revenue, according to the government’s latest TaxWatch campaign advertisement. Based on records, a total of 9,418 importers and customs brokers sought accreditation from the BIR and Bureau of Customs during the five-month application period from Feb. 21 to July 31 this year. The deadline for application was extended twice by the BIR from the original date of May 21 in which only 11 applied. In the first extension which ran from May 22 to June 30, about 3,377 applied. For the second extension (July 1 to July 31), the number of applicants increased to 6,030. This leaves 5,577 importers and brokers without any BIR/BOC accreditation. “By simply applying for your BIR clearance, you would have been automatically granted provisional BOC accreditation,” the government said. Those who failed to apply can still do so as new applicants. However, they will not be issued any provisional accreditations. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Accreditation reform is crucial to curb smuggling and leveling the playing field for legitimate traders,” the state further said. The new process of accreditation, mandated by the Department of Finance, aims to plug the loopholes in importation procedures as part of government’s efforts to curb smuggling. The new regulations aim to ensure that only legitimate and honest tax-paying businesses can import goods through the Custom’s ports. The Finance Department’s Fiscal Intelligence Unit has the Read More …

WASHINGTON — Foreign buyers of US Treasury securities increased their holdings in June, topping $6 trillion for the first time. Total foreign holdings rose 0.6 percent to $6.01 trillion, up from $5.98 trillion in May, the Treasury Department said Friday in its monthly report. The increase came despite the fact that the two biggest foreign owners of Treasury securities reduced their holdings slightly. China, the top foreign buyer of US Treasury debt, trimmed its holdings by 0.2 percent to $1.27 trillion after a 0.6 percent increase in May. Japan, the second-biggest foreign buyer, saw its holdings slip a slight $600 million to $1.22 trillion. Belgium, Brazil and Taiwan were among the countries increasing their holdings. Foreign central banks are big holders of US Treasuries, which are viewed as one of the world’s safest investments. In June, foreign government holdings of Treasury debt totaled $4.1 trillion, two-thirds of the total foreign holdings. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Foreign demand for Treasury debt is expected to remain strong this year, helped by a congressional agreement to avoid a new fight over the US debt ceiling until March 2015.

EVERY year, some 6,000 people come to the Mindanao Baptist Rural Life Center (MBRLC) in Kinuskusan, Bansalan, Davao del Sur to observe, see and adopt the technologies the center has developed through its years of existence. Almost one-third of those who come to the center opt to immerse themselves on the training programs that the center offers. “Most of those who undergo training are farmers,” said Ian Ogatis, the center’s training coordinator. “But we also train technicians, teachers, students, and even participants send to us by government agencies.” Among the government agencies that utilize MBRLC as their partner in countryside development are the Department of Agriculture (DA), Department of Agrarian Reform (DAR), Department of Environment and Natural Resources (DENR), Department of Science and Technology (DOST), and Department of Education (DepEd). The MBRLC is a non-government organization located 86 kilometers away from Davao City (the travel time from the Ecoland bus terminal is about two hours). It nestles at the rolling foothills of Mount Apo, the country’s highest peak. It was first opened to the public in 1971. At its 19-hectare farm are various farming technologies that most people can adapt and follow in their respective farms. As one British who came to the center wrote in his report: “This relatively small operation is the most self-sufficient of all of the projects seen on this trip, and has had an influence throughout the Philippines and elsewhere far out of proportion to its size.” Actually, the center was a product of the Read More …