THE petroleum exploration industry needs to retain incentives that the tax reform law may seek to eliminate in order to encourage risk taking, and added that removing these perks will stifle investment.

MALACAÑANG on Monday said that the arrival of fresh stocks of low-cost rice imports is expected to result in the reduction of commercial rice prices.

THE Department of Agriculture (DA) said its goal is to improve the competitiveness of rice farmers and now views self-sufficiency as impossible because the government counts any imports, no matter how large, against the 100% goal.

THE DEPARTMENT of Finance (DoF) said it will integrate cybersecurity features in the country’s new trade facilitation platform.

THE Department of Transportation (DoTr) has issued the fare structure for the modernized public utility jeepneys (PUJs), setting a P10 charge for the first four kilometers and P2 for every kilometer thereafter.

THE CENTRAL BANK is looking to open four new credit surety fund (CSF) facilities this year to improve access to credit for small businesses in the provinces.

As the debate on adopting federalism in the Philippines heats up, the powers and limitations of local government units (LGUs) to tax is coming to the fore.

WITH added funding set aside for lending to micro, small and medium enterprises, the Department of Trade and Industry (DTI) said it hopes to eliminate the need for so-called “5-6” informal lenders by 2022.

MODERNIZED public utility jeepneys (PUJs) will start hitting the road on a route within Pasay City on Monday, the Department of Transportation (DoTr) said.

A PROJECT to improve wastewater collection and treatment in catchment areas of Metro Manila is currently facing implementation delays, leading to the replacement of some sub-components, the World Bank (WB) said.

IFRS 9 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board on July 24, 2014. It addresses the accounting for financial instruments and features three main topics: classification and measurement of financial instruments; impairment of financial assets; and hedge accounting. It will become effective in 2018 and replaces International Accounting Standards (IAS) 39 Financial Instruments: Recognition and Measurement and all previous versions of IFRS 9. In this article, IFRS 9 is referred to as a “science” because of its systematically organized body of information and measurements on specific topics.

AUTO SALES fell 13.7% year-on-year in May, including a 19.6% decline in the sales of cars, according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).