Philippine Standard licenses to be renewed automatically
RECENTLY EXPIRED or expiring Philippine Standard licenses of local manufacturers will be automatically renewed, the Department of Trade and Industry (DTI) said.
DTI’s Bureau...
Sugar group wants P2-billion sugar development fund restored
THE sugar industry called for the restoration of the P2-billion Sugar Industry Development Act fund for more farm grants and stronger research and development,...
Pandemic threatens to burst Philippines’ online gaming bubble
With the twin global gaming centers of Macau and Las Vegas bleeding millions of dollars daily as casinos stand empty, the much smaller online...
Duterte softens position on jailing water company officials
PRESIDENT RODRIGO R. Duterte said he will proceed with amending the contracts of both Metro Manila water concessionaires, but walked back earlier threats of imprisonment for the companies’ executives.
Bank account holders grew by 5M between 2017 and 2019 — BSP
THE Bangko Sentral ng Pilipinas (BSP) said about 5 million Filipinos gained access to formal bank accounts between 2017 and 2019, leaving about 51.2 million adults still unbanked.
PEZA seeking to attract investors with aid of current locators, foreign chambers of commerce
THE Philippine Economic Zone Authority (PEZA) said it is hoping to tap current locators to attract new investment via promotion efforts coursed through the various foreign chambers of commerce.
Visa expects payments industry to retain 70% of lockdown users after emergency ends
AROUND 70% of Filipinos that used digital payment channels during the lockdown will likely continue to do so, Visa, Inc. said, citing the results of a study.
DoT ties up with FAO to promote sustainable farm tourism in PHL
SUSTAINABLE farm tourism has been declared a priority area for promotion in a partnership signed by the Department of Tourism (DoT) and the United Nations Food and Agriculture Organization (FAO).
Talks with multilateral banks focus on potential recovery measures, MSME aid
THE Bangko Sentral ng Pilipinas (BSP) said its talks with various multilateral agencies, aid organizations and central banks are focused on potential projects to bring about an economic recovery and aid small businesses.
Job creation, upskilling seen as pillars of economic recovery plan
THE government will focus on job creation in its economic recovery efforts and plans to make a major push in upskilling the workforce, particularly those from vulnerable communities, Cabinet officials said.
Fisheries sector recovery to depend on adapting to new markets — think tank
THE FISHERIES sector should be alert to changing consumer preferences and pursue more value-adding activities to work around the potential weak links exposed by the pandemic, such as the breakdown in logistics arrangements caused by the lockdown, a government think tank said.
DTI clarifies only commercial-scale barter subject to tax
ONLY BARTER pursued on a commercial scale is subject to tax and must be registered with the government, while trades at the individual level may proceed without penalty, Trade Secretary Ramon M. Lopez said.