DA seeking to tap $840M in World Bank funding
THE Department of Agriculture (DA) is discussing $840 million worth of assistance with the World Bank to supplement funding for various programs, including one focused on providing agriculture extension services.
BoC to deploy 6 new X-ray machines to major container ports
THE BUREAU of Customs (BoC) is set to deploy six new X-ray machines in major ports over the remainder of the year, and is considering budget proposals for more such equipment.
Duterte signs measure reducing power bill
PRESIDENT Rodrigo R. Duterte signed a bill promising to lower power bills by tapping surpluses generated by the Malampaya gas project to cover some electric bill items, legislators said.
Peso weakens further
THE PESO weakened on Tuesday as protests in Hong Kong dented sentiment, causing markets to flock to safe havens.
PHL stocks decline as HK protests dent sentiment
LOCAL SHARES fell on Tuesday as heightened protests in Hong Kong dragged already negative sentiment due to the US-China trade war.
Nation’s chief diplomat retracts Chinese ship ban
FOREIGN AFFAIRS Secretary Teodoro L. Locsin Jr. retracted his earlier threat to ban Chinese survey ships from waters covered by the country’s exclusive economic zone, saying an international treaty bars the Philippines from doing so.
Subic-Clark cargo rail line construction seen starting in early 2020, DoTr says
THE China-funded Subic-Clark Railway Project is set to begin construction by the first half of 2020, the transportation department said.
DTI opposes Labor dep’t role in determining outsourced jobs
TRADE SECRETARY Ramon M. Lopez said he is against proposals to empower the Secretary of Labor to determine which jobs at a company are outsourced, a key feature of the re-filed Security of Tenure bill prepared by the Department of Labor and Employment (DoLE).
Sugar stakeholders seek bigger role in moderating imports
THE Confederation of Sugar Producers (CONFED) is lobbying for a bigger role in moderating sugar imports, saying volumes should be based on projected domestic production shortfalls relative to demand.
CoA cites CAAP failure to submit contract of PAL leases
THE Commission on Audit (CoA) said the Civil Aviation Authority of the Philippines (CAAP) failed to provide supporting documents for payments arising from land rented from Philippine Airlines in Bacolod and Ozamiz.
Further talks scheduled with China Customs over shipments of cigarette-making machinery
THE DEPARTMENT of Finance (DoF) said it will hold further discussions with Chinese customs officials about shipments of cigarette-making machines to the Philippines, which must be registered but are often used in the illicit production of cigarette products that evade tax.
CTA approves BIR settlement with ABS-CBN unit
THE Court of Tax Appeals (CTA) approved a settlement between ABS-CBN Film Productions, Inc. and the Bureau of Internal Revenue (BIR) regarding the company’s P31-million tax deficiency for 2009.