Cash support to GOCCs surges in April on wage subsidy program
SUBSIDIES to state-owned firms surged 573% year on year in April after the Social Security System (SSS) received the funding for the small business wage subsidy program, the Bureau of the Treasury (BTr) said.
Hotel restaurants to be cleared for partial dine-in operations
THE Tourism department will permit partial dine-in operations at hotel restaurants in areas under general community quarantine starting June 15.
DPWH seeks quick deal for NLEx extension to Anda Circle
THE Department of Public Works and Highways (DPWH) is hoping to reach an agreement soon with the Metro Pacific Group to extend the North Luzon Expressway (NLEx) to Anda Circle in Manila’s Port Area, after the completion of the 2.6-kilometer NLEx Harbor Link Segment 10 C3-R10 Section.
Insurance regulator urges industry to expand use of digital payments
THE Insurance Commission (IC) has encouraged insurers, pre-need companies and health maintenance organizations to use digital payments as part of a broader set of ground rules for electronic transactions.
Agencies to adopt e-signatures, accept more online payments
GOVERNMENT agencies will soon be required to use electronic signatures and allow online payments for port fees and customs duties as more relaxed lockdown measures are adopted.
Consensus in lease concessions due to COVID-19
By Jerome B. Ching
In the first part of this two-part series, we discussed how to assess whether changes in lease contracts are lease modifications, and covered lease concessions that are treated as variable rent, lease modifications, and accounted for as government grants.
NEDA sees economy normalizing, 75% of companies now operating
THE National Economic and Development Authority (NEDA) said economic activity is heading “towards normalcy” despite expected further setbacks to growth in the second quarter.
PSA jobless estimate deemed ‘conservative,’ real total could be 10-M unemployed
THE number of unemployed Filipinos could be closer to 10 million rather than the official estimate of 7.3 million in April, a University of the Philippines professor said.
Jacinto says telecom reform EO in final stages
NEWLY-APPOINTED Undersecretary Ramon P. Jacinto of the Department of Information and Communications Technology (DICT) said an executive order (EO) introducing “stronger reforms” in the telecommunications industry is now in its final stages.
PHL seen among worst-hit ASEAN economies due to extent of lockdown
THE Philippines could be among the worst-hit ASEAN economies with a projected contraction of 5% in 2020, second only to a projected decline of 6% for Singapore, Oxford Economics said.
Natural gas consumption declines in first 5 months
NATURAL gas consumption declined year on year in the five months to May, according to the Department of Energy’s Ecosystems Research and Development Bureau (DoE-ERDB).
Online transaction complaints surge during lockdown
COMPLAINTS involving online transactions rose to 8,059 at the height of the lockdown from 985 in the three months to March, the Department of Trade and Industry (DTI) said.