MANILA, Philippines — The country’s quest to lower electricity rates has become more difficult to achieve with an impending tax imposition on coal, its major source of power, and the regulatory vacuum following the suspension of Energy Regulatory Commission (ERC) commissioners. Even before these developments, the Philippines already has among the highest rates not only […]
Read MoreMANILA, Philippines — About P72.4 billion worth of economic zone development projects are still on hold as of end-2017 as proponents await the presidential proclamations of these sites before starting construction and operation. “We have 37 pending (applications), plus five from the previous administration, so 42 projects remain pending,” Philippine Economic Zone Authority (PEZA) manager […]
Read MoreMANILA, Philippines — It was a roller coaster ride for the mining industry last year. One minute it was down in the dumps, with regulatory changes threatening its existence. The next it was up in the clouds after its biggest opponent, former environment secretary Gina Lopez, lost her post. The minerals sector continued to make […]
Read MoreMANILA, Philippines — Debt servicing fell almost 15 percent in the first 11 months of 2017 on the back of lower principal payments. Data from the Bureau of the Treasury (BTr) showed that the government paid P652.5 billion worth of debt from January to November last year, or P112.54 billion lower than the P765.04 billion […]
Read MoreMANILA, Philippines — The tax reform law, which reduces personal income tax but imposes a higher tax on fuel, cars, tobacco and sugary beverages to bankroll the government’s infrastructure and development projects, takes effect today. To kick off the effectivity of Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, Revenue […]
Read MoreMANILA, Philippines — With the growing popularity of e-commerce in the Philippines, the Department of Trade and Industry (DTI) cautioned Filipinos to stay vigilant when shopping online. The DTI said the advent of technology has given consumers the capacity to instantly purchase their goods online and have them delivered at their doorstep. The agency said […]
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