Maniolas

A TOTAL of 25 local government units in Davao Region have adopted the Business Permits and Licensing System (BPLS), according to the Department of Trade and Industry (DTI). In Davao del Norte, five LGUs have switched to the new system – Asuncion, New Corella, Santo Tomas, Tagum City, and Talaingod. In Davao del Sur 13 LGUs have switched — Digos City, Bansalan, Kiblawan, Magsaysay, Malalag, Matanao, Padada, Santa Cruz, Sulop, Don Marcelino, Jose Abad Santos, Malita, and Sarangani. Four Davao Oriental LGUs — Boston, Caraga, Lupon, and Tarragona — adopted the BPLS and three in Compostela Valley — Mabini, Mawab, and New Bataan. The BPLS is an initiative between DTI and the Department of Interior and Local Government (DILG) to improve the competitiveness and business climate of the LGUS by streamlining the process issuing business permits and licenses. DTI-Davao officer-in-charge Maria Belenda Q. Ambi told Sun.Star Davao that under the BPLS, there is a unified form that needs only two signatories, and processing time has been reduced to 10 days or less for new business permit and not more than five days for business renewals. The standards set in the BPLS are anchored on Republic Act No. 9485 or the Anti Red Tape Act of 2007. In 2013, a total of 23 LGUs adopted the BPLS: Panabo City, Island Garden City of Samal, Dujali, Carmen, Kapalong, and San Isidro, Davao del Norte; Hagonoy, Davao del Sur; Davao City; San Isidro, Mati City, Governor Generoso, Banaybanay, Manay, Banganga, and Cateel, Davao Read More …

MANILA, Philippines — The World Bank said yesterday the Philippines can eliminate poverty within a generation as sustained economic growth in recent years has translated into more jobs and higher incomes. The bank said in a report that more than a million jobs were created between October last year and October 2013, pulling unemployment down to a 10-year low of 6 percent. Real incomes of the bottom 20 percent of Filipinos grew much faster than the rest of the population and unemployment among the poor dropped. The government’s program of conditional cash transfers is effective in reaching those most in need, the report said. Poverty has remained at high levels in the Philippines relative to some East Asian countries, reflecting a succession of corrupt governments in past decades and the country’s vulnerability to natural disasters including typhoons. The bank forecasts the Philippine economy will expand 6.5 percent this year, slightly down its earlier forecast of 6.7 percent. It estimated full-year growth last year at 6 percent, down from an earlier forecast of 6.4 percent due to slower government spending and lower farm production. It said sustaining such high growth and accelerating reforms can lead to massive cuts in poverty and to wealth being shared by more people. Government data shows that about a quarter of the country’s 100 million people have income of less than 18,935 pesos ($1,290) a year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “If growth is sustained at 6 percent per year and the Read More …

THE ENERGY department said scheduled maintenance shutdowns of power plants this year will not automatically lead to rotating power outages.

MANILA, Philippines – Infrastructure giant Metro Pacific Investments Corp. (MPIC) is spending as much as $90 million to expand its toll road business overseas with the acquisition of a minority stake in a toll road operator in Vietnam. Ramoncito Fernandez, president of Metro Pacific Tollways Corp., said the company is spending approximately $86 to $90 million to acquire a stake in CII Bridges and Roads Investment Joint Stock Co. (CII B&R). This is the second overseas venture of MPIC for its toll road business. In a disclosure to the Philippine Stock Exchange (PSE), MPIC general counsel Jose Jesus Laurel said MPTC entered into an equity investment and financing transaction with Ho Chi Minh City Infrastructure Investment Joint Stock Co. (CII). Laurel said the transaction would result in MPTC holding a significant minority equity interest equal to about 45 percent of the outstanding capital of CII B&R. The transaction would be conducted through a combination of purchase of CII B&R secondary shares from CII and subscription to Vietnamese Dong (VND)-denominated bonds to be issued by CII that are exchangeable into secondary shares in CII B&R. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The company informed the Exchange that MPTC entered into a share purchase agreement with CII covering the purchase of 30 million shares of CII B&R at VND22,100 per share. Likewise, MPTC also signed a bond subscription agreement with CII covering the issuance by CII of and the subscription to 1.02 million bonds each with a face value Read More …

My sister Michelle had a once in a lifetime experience with Pope John Paul II during their trip to the Vatican in 1984.   Today, along with millions of Filipinos, I welcome Pope Francis, the People’s Pope, in our country. As one of the biggest Catholic country in Asia, the Philippines is truly blessed to have the Pope visit us. This will be the first papal visit in 20 years. If you can remember, we had Pope John Paul II in 1995 to celebrate the World Youth Day. The Pope’s visit is one of the greatest blessings we will receive this year. Months before today, the Philippines started its preparations. Aside from the responsibility of the government, different Catholic groups and organizations, and also families and individuals are eager to contribute and help in the planning and execution. When I met with Cardinal Tagle last month, I was glad to hear that there are many supporters, donors and volunteers who gave their contributions and allotted their time to be part of this. This will be a memorable experience for all Filipinos who will have a glimpse of the Pope and be able to participate in his activities in the country. It is not every day that we have the Pope with us, so we must all do our best to participate in His Holiness’ visit. Definitely, a once in a lifetime experience. I remembered my sisters Marie and Michelle had an opportunity to meet Pope John Paul II in 1984. Read More …