DTI, NEDA preparing measures for long trade war
THE Department of Trade and Industry (DTI) and National Economic Development Authority (NEDA) are preparing for a prolonged US-China trade war, ultimately seeking to capture more foreign investment while pursuing deeper regional integration, improving approval processes, and helping start-ups and small businesses succeed.
House panel consolidates property valuation bills
THE House Ways and Means committee on Wednesday approved a substitute bill seeking to reform the real property valuation and assessment system.
Senate panel approves P8.2-B OP funding
THE Senate finance committee on Wednesday approved the P8.201-billion budget of the Office of the President (OP) for 2020 with no interpellation.
Foreign chambers see amendments to FIA raising investment
THE Joint Foreign Chambers (JFC) on Wednesday welcomed the final approval by the House of Representatives of the bill which proposes to amend the Foreign Investments Act (FIA).
E-cigarette industry calls for ‘fair’ tax regime
THE electronic cigarette lobby said its products need to be fairly taxed and regulated, especially if the Philippines hopes to fund its Universal Health Care system in part with the proceeds of a tax on e-cigarettes.
Speaker backs more funding for rice procurement
SPEAKER Alan Peter S. Cayetano said he will support at least P9 billion in additional funding for the procurement of palay, or unmilled rice, to support the market and prop up farmer incomes, as plenary discussion of the 2020 budget got underway in the House.
Rice inventory up over 40% year-on-year ahead of harvest
THE national rice inventory was estimated at 2.133 million metric tons (MMT) as of Aug. 1, up 40.3% from a year earlier, but down 18.7% month-on-month, the Philippine Statistics Authority (PSA) said.
Duterte signs law expanding Bataan freeport territory
PRESIDENT Rodrigo R. Duterte has signed a measure expanding the territory of the Freeport Area of Bataan (FAB) to create more investment opportunities for the province.
Malaysia, Singapore studying ‘success’ of PHL sugar tax on beverages — Finance dep’t
MALAYSIA and Singapore consider the Philippine excise tax on sugar-sweetened beverages (SSBs) a “successful fiscal policy intervention,” the Department of Finance (DoF) said.
Philippines, Singapore, sign data agreement
THE PHILIPPINES and Singapore have agreed to share best practices in data protection and to combine efforts in data protection and cross-border data flow.
Law creating Davao airport authority signed
PRESIDENT Rodrigo R. Duterte signed into law a measure creating the Davao International Airport Authority (DIAA) that will manage airports in the Davao Region, including the city’s Francisco Bangoy International Airport.
PHL cited as gender-equality leader in government hiring — ADB, OECD
THE Philippines is a regional leader in terms of gender equality in job hiring, specifically in the public sector, the Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD).