AIRPORT officials have prepared measures to accommodate an expected increase in the volume of passengers this Christmas season, the Transportation department said.
Nov 252016
Nov 252016
MANILA, Philippines – There was little to no improvement in revenue collections during the first three months of the Duterte administration when compared to economic performance because of transition, government data showed. For the first nine months, national government revenues accounted for 13.2 percent of gross domestic product (GDP), down from 13.9 percent a year ago. Broken down, taxes cornered 11.8 percent of GDP, just slightly above 11.7 percent last year. The targets for the year are 15.5 and 14.1 percent, respectively. The figures represent the revenue and tax efforts of the government which reflect the amount of revenues collected as the economy expands. Theoretically, more revenues should be collected as economy grew faster at seven percent as of the third quarter. But Finance Assistant Secretary Ma. Teresa Habitan said this was not the case. “We should give chance to the new government to perform,” Habitan said in a phone interview yesterday. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “This is still because of transition,” she added. Emilio Neri Jr., lead economist at Bank of the Philippine Islands, agreed. “Three months is too soon to be able to say they are in normal mode already,” Neri said by phone. By agency, collections by the Bureau of Internal Revenue (BIR) accounted for 9.4 percent of economic output from 9.3 percent a year ago. The Bureau of Customs, meanwhile, posted a similar 2.3 percent revenue effort for the period, data showed. Both Habitan and Neri agreed that BIR is a Read More …
Nov 252016
MANILA, Philippines – A Single energy project is expected under the public-private partnership (PPP) program, which is an expanded version of the earlier Batangas-Manila Natural Gas Pipeline project, the PPP Center’s top official said. The Bat-Man project is still being processed under the PPP program, PPP Center executive director Ferdinand Pecson said in an interview on the sidelines of the Global Investment Forum. “For now, coming from the DOE, there is one energy-related project. It’s not about power generation, it’s about transmission of natural gas,” he said. The Department of Energy (DOE) previously said it is looking at other options in getting the project off the ground. But in the recent sit-down between the PPP Center and DOE, Pecson said the DOE is revising the scope of the original P10.528-billion Bat-Man project, which will include not only the pipeline but also the regassification facility for natural gas. “Actually, what the DOE has to decide about…is the scope that they now want to have for this project. Before, it’s just a pipeline, now they said they actually want to go further upstream and include the facility or the plant that would take in the raw material and process this into gas that would then be distributed,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the original plan, the Bat-Man is a 121-kilometer transmission pipeline that will transport and supply natural gas from Batangas to Metro Manila. However, forming a fuel mix policy is critical in realizing the Read More …
Nov 252016
MANILA, Philippines – The Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI) is batting for a shift toward natural gas as a main source of power to replace coal, citing its competitive edge in terms of cost and environmental impact. “One of the major challenges faced by the electronics industry is the high cost of power, which is the second worst in Asia,” SEIPI president Dan Lachica said. He said the high power costs remain among the biggest problems for the country’s electronics industry, which produces its top export. Given the persisting concerns on high power cost, SEIPI welcomed the recent inauguration of the new natural gas-fired power plants owned by First Gen Corp., which the group said would provide much needed additional generating capacity to the Luzon grid. The group said natural gas is the best alternative to coal which is currently the cheapest source of power. Lopez-led First Gen switched on its 414-megawatt (MW) San Gabriel combined-cycle and 97-MW Avion open cycle natural gas-fired power plants in Santa Rita, Batangas on Nov. 11. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The additional 511 MW from these natural gas power plants is a welcome development for our Philippine electronics industry,” Lachica said. For this year, electronics exports are seen returning to record levels should it finish on the higher end of industry growth targets. SEIPI is targeting a two to five percent jump in electronics exports this year. Hitting a five percent growth, according to Lachica, Read More …
Nov 252016
Mrs. Santos is a very wealthy business woman and she had to go to her annual check up. Her doctor is efficient, but has a reputation of being too direct. After an hour or so, the doctor looks at Mrs. Santos and says the following: “Mrs. Santos, overall you are very healthy for a 45 year old. There is, however, only one problem. You are 40 pounds overweight and bordering on obese. I would strongly suggest you diet now to save any complications in later years.” She looks sternly at him and says, “I demand a second opinion.” “OK” he says as his anger begins to show, “you’re rottenly ugly as well!” One thing I can assure you is that this doctor will never win any popularity contest. There are people who are good with their craft, but the problem is they are not well liked and this is not a good thing. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 While their craft is still needed and marketable, they may get away with their rudeness. But once another option offers itself, they will quickly lose their business. LQ today is added to IQ and EQ as I keep on emphasizing in my talks, trainings and seminars. We are quite familiar with IQ as it means Intelligence Quotient. EQ got its popularity a few years back and is known as Emotional Quotient. LQ, however, is still mistaken as “Lover’s Quarrel” as many of the young people would say, but Read More …
Nov 252016
The benchmark Philippine Stock Exchange index (PSEi) moved up 16.47 points, closing at 6,889.78. However, despite the gains, the PSEi remained below the 7,000 mark. File photo MANILA, Philippines – Bargain hunting, as well as early month-end window dressing, helped sustain the stock market’s upward trend at the end of the trading week, analysts said yesterday. The benchmark Philippine Stock Exchange index (PSEi) moved up 16.47 points, closing at 6,889.78. However, despite the gains, the PSEi remained below the 7,000 mark. The broader All Shares index was also up 5.9 points to 4,176.54. All counters were down, except the property segment, which climbed 68.49 points to 3,072.98. The negative counters were led by mining and oil, which was down by 184.86 points or 1.48 percent. Total value turnover reached P4.84 billion. Advancers slightly outnumbered decliners at 94 to 90, while 47 issues were unchanged. Luis Limlingan, managing director at Regina Capital, attributed the rise in share prices to some bargain hunting, portfolio rebalancing and early window dressing. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meanwhile, the peso finally ended a seven day losing streak gaining 14 centavos yesterday with the expected pick up in cash remittances from overseas Filipinos in time for the Christmas season. The local currency opened weaker and hit an intra-day low of 49.99 to $1 before hitting an intra-day high of 49.80 to $1. The peso briefly touched the 50 to $1 level last Thursday. The peso closed at 49.84 to $1 from Thursday’s Read More …
Nov 252016
The arrested Chinese workers in Pampanga. Photo courtesy of Bureau of Immigration The Bureau of Immigration (BI) has arrested a total of 1,240 illegal Chinese workers inside a posh rest and recreation center in Clark, Pampanga. In a report to BI Commissioner Jaime Morente, the joint operation against the Chinese nationals were conducted by the BI’s Fugitive Search Unit and the Angeles City Police led by Senior Superintendent Sidney Villafor. “Our immigration officers have started conducting verification of passports (of the suspects),” Morente said. Immigration Spokesperson Atty. Maria Antonette Bucases-Mangrobang said the Chinese nationals are working in call center type of operations and investigation is still ongoing to identify the owner. Initial evaluation showed that some of the arrested Chinese nationals have working visas. “But we still have to determine the type of working visa…We still have to check if the actual work when they were arrested is the same as that indicated in the working visa. It is not just enough that they have a working visa,” she said adding that some have arrived in the country as tourists. On who will be deported, Mangrobang said the Board of Commissioners will still have to determine that based on the evidence to be submitted by the Immigration’s Intel. “It will be assessed to determine the necessary actions to take as far as these foreign nationals are concerned,” she added. The arrested Chinese nationals are currently at the Fontana Food Center and are being secured by elements of the Special Action Read More …
Nov 252016
Former Prime Minister Cesar Virata receives the Imperial Decoration of the Grand Cordon of the Order of the Rising Sun from Ambassador Kazuhide Ishikawa. PHOTO FROM THE JAPAN INFORMATION AND CULTURE CENTER. Cesar Virata, prime minister during the Marcos administration, was honored by the Japanese government for promoting strong ties between the Philippines and Japan. The Japanese Information and Culture Center (JICC), in a release, said Ambassador Kazuhide Ishikawa hosted at his residence the conferment ceremony of the Imperial Decoration of the Grand Cordon of the Order of the Rising Sun. “This was awarded in recognition of Honorable Virata’s contribution to promoting friendly relations and developing economic cooperation between Japan and the Philippines,” it said. “The decoration was decided on November 3rd by the Government of Japan.” Virata, who was also former president Ferdinand Marcos’ finance minister, is seen in photos carrying the award and posing with the ambassador and Senator Franklin Drilon. Drilon, who was awarded the Grand Cordon of the Order of the Rising Sun in Tokyo, gave a congratulatory remark during the event. READ: Japan gives Drilon rare honor He received his decoration from Japan’s emperor last November 8. IDL Senator Franklin drilon joins Former Prime Minister Cesar Virata in receiving the Imperial Decoration of the Grand Cordon of the Order of the Rising Sun from Ambassador Kazuhide Ishikawa. PHOTO FROM THE JAPAN INFORMATION AND CULTURE CENTER. TAGS: Cesar Virata, Japan, Japanese Information and Culture Center For feedback, complaints, or inquiries, contact us.
Nov 242016
Senate President Aquilino Pimentel III said the House of Representatives cannot dictate them over what to do with Sen. Leila de Lima, a News To Go report said Friday. This came after the House committee on justice issued a show cause order against De Lima, following the testimony of her former driver-bodyguard Ronnie Dayan and his daughter, Hannah Mae, saying the senator asked him to snub the House inquiry on the proliferation of drugs at the New Bilibid Prison, despite a subpoena issued against him. During the hearing, Rep. Harry Roque also called on the Senate to “remove” De Lima from office to “maintain the integrity of the institution.” In response, Pimentel was quoted as saying this is unrealistic. The requests should also be coursed through proper channels, he added. Earlier, De Lima’s partymates in the Senate rallied behind her, and said the House should recognize the inter-parliamentary courtesy. —Rose-An Jessica Dioquino/KG, GMA News
Nov 242016
The Bureau of Immigration on Thursday arrested 1,269 Chinese nationals suspected to be illegally working in Clark, Pampanga. Citing initial reports, BI commissioner Jaime Morente said the foreigners were apprehended at a popular rest and recreation facility there. The operation was carried out due to a directive from the Department of Justice. Morente said the foreigners’ documents are being verified based on intelligence information that the Chinese nationals illegally entered the country to work here. In an initial report to the BI chief, the agency’s Fugitive Search Unit said the operation was carried out at Fontana in Clark, in cooperation with local police units. The arrested foreigners are being processed and secured by elements of the Special Action Force at the Fontana food center, said BI spokesperson Tonette Mangrobang. CDG RELATED STORIES BI probes foreign traders, firms BI orders expulsion of 155 foreigners working illegally in PH TAGS: Bureau of Immigration, Chinese, Department of Justice, illegal work For feedback, complaints, or inquiries, contact us.