Government debt rises 72% as of end-July
GOVERNMENT DEBT rose by 72.8% year on year at the end of July to P729.27 billion, the Bureau of the Treasury said.
Intellectual property applications climb 11% in first half
THE Intellectual Property Office of the Philippines (IPOPHL) received 11% more intellectual property applications in the first half of 2019, IPOPHL said in a statement Saturday.
PTT wins P13.35-M VAT refund from CTA
THE Court of Tax Appeals (CTA) has ordered a P13.35 million refund on erroneously paid value-added tax (VAT) by PTT Philippines Trading Corp. covering its imports of petroleum products.
Preparing for the IBOR transition
By Janice Joy M. Agati and Redgienald G. Radam
In the first part of this article, we highlighted the current state of Interbank Offered Rates (IBORs), the factors behind the shift from IBORs to Alternate Reference Rates (ARRs), and the top 10 challenges to be faced in transitioning to the ARRs. In this second part, we will delve into the key operational, financial and accounting considerations that come along with the imminent discontinuation of IBORs.
PHL nickel miners hopeful of better ore prices
NICKEL miners in the country may expect improved prices for ore in the near term as Indonesia sets an exporting ban for the mineral next year.
Gov’t approves additional P1B for rice farmers’ loan program
THE Agricultural Credit Policy Council (ACPC) has approved an additional P1 billion for the Survival and Recovery Assistance Program (SURE Aid), expanding its assistance to 70,000 farmers affected by the plunging price of palay, or unmilled rice.
Hanjin creditors close to deal with investor on Subic shipyard
THE Subic Bay Metropolitan Authority (SBMA) said creditors are close to a deal for the takeover of Hanjin Heavy Industries and Construction Philippines, Inc., with foreign investors currently in talks with banks on how to proceed with the bankrupt shipbuilder’s facilities and work force.
NFA hikes buying price, releases imported rice
THE Department of Agriculture (DA) said Thursday that the National Food Authority (NFA) will increase the buying price for palay, or unmilled rice, to P19 from P17 while also removing add-on incentive payments under the old scheme.
Energy efficiency seen playing bigger role in future power usage
AUSTIN, TEXAS -- Energy efficiency measures or economic activities that aim to reduce the amount of energy required to provide the same amount of benefit or service will play an important role in the generation mix even as their present share remains minimal.
Budget proceedings seen subject to challenge over quorum
A MEMBER of the House of Representatives alleged that attendance is being “manipulated” and “doctored,” leaving any budget decisions subject to challenge because of lack of quorum.
Hainan seeks tourism, agri deals with Davao City
DAVAO CITY -- The Chinese island province of Hainan is seeking cooperation between Davao City in tourism, agriculture and trade, visiting Chinese officials said.
Education dep’t studying creation of more ranks for public school teachers
THE Department of Education (DepEd) said it is currently in talks to improve the career path for public school teachers to ensure a steadier progression to the senior rank of Master Teacher.