February 2017 – Page 8

Coping with the challenges:The 2016 Corporate Governance Code for Publicly Listed Companies

Economy

Feb 052017

The Securities and Exchange Commission (SEC) released in November the new Code of Corporate Governance for Publicly Listed Companies that introduced changes to further strengthen the core principles of fairness, accountability and transparency. The provisions of the 2009 Revised Code of Corporate Governance are still effective for covered companies that are not listed in an exchange. The development of the new code was also guided by the recent changes in the Organization for Economic Cooperation and Development (OECD) principles of corporate governance released in September 2015, and from a series of discussions with other corporate governance advocates in the region.

$5.5-M Concepcion port rehabilitation ready for bidding

Economy

Feb 032017

ILOILO CITY — Bidding will soon be opened for the $5.5-million Northern Iloilo Fishery Rehabilitation and Development Project, located in Concepcion town in Iloilo province, following the green light for funding from the Korea International Cooperation Agency (KOICA).

More hirings seen in finance, human resources sectors

Economy

Feb 032017

THE COUNTRY’S jobseekers may have access to a wide range of career opportunities as companies ramp up their hiring activities this year, according to an international specialist professional recruitment firm.

Dominguez swears in former National Treasurers to new positions

Economy

Feb 032017

TWO EX-NATIONAL Treasurers vow to continue reforms in their institutions after they took their oaths of office on Friday, with one appointed to a new position and the other returning to her former post.

BIR needs P15 billion to make salaries competitive

Economy

Feb 022017

THE GOVERNMENT’S revenue collecting agency said that it needs a P15-billion annual budget to raise its compensation package, as it moves to “professionalize” the bureau with an exemption from the Salary Standardization Law (SSL).

ADB reports export recovery in much of developing Asia

Economy

Feb 022017

EXPORTS in developing Asia, including the Philippines, may have recovered slightly in 2016 after the global slowdown in 2010-2015, the Asian Development Bank (ADB) said in a brief yesterday.

National gov’t debt P6 trillion at end-2016

Economy

Feb 022017

THE NATIONAL GOVERNMENT’S (NG) outstanding debt at the end of 2016 rose slightly to above P6 trillion due to currency fluctuations and net repayments on domestic securities, according to the Bureau of the Treasury (BTr).

Japanese companies keen on entering PHL market — MUFG

Economy

Feb 012017

MITSUBISHI UFJ Financial Group, Inc. (MUFG) expects more Japanese companies to enter the Philippines with economic growth to range between 6-7% this year, led by heightened consumer spending, robust business process outsourcing (BPOs) sector and overseas Filipino worker (OFW) remittances.

OFW remittances buoyed by improving US economy — HSBC

Economy

Feb 012017

REMITTANCES by overseas Filipino workers (OFWs) are expected to remain on the rise and fuel further domestic spending in the Philippines, boosted by improving economic prospects in the United States, the Hong Kong and Shanghai Banking Corp. (HSBC) said.

PCC rules on M&A review

Economy

Feb 012017

After the Philippine Competition Commission (PCC) was formed in February last year, parties to a merger or acquisition that is valued at more than P1 Billion were mandated to notify the Commission in writing. Such notification was the only requirement until June 2016. The Implementing Rules and Regulations (IRR) of the Philippine Competition Act (PCA) which became effective on June 18, 2016 provided for the guidelines in determining the “value” of covered merger or acquisition as well as the review procedure.

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