DoF, NEDA raise objections to Senate economic zone bills
THE Department of Finance (DoF) and the National Economic and Development Authority (NEDA) have ruled out granting local governments the power to organize their own special economic zones, saying that badly-organized zones have a mixed record in job creation and generating economic benefits.
Yellow alert declared Tuesday on Luzon grid as four plants suffer outages
THE LUZON grid was placed on yellow alert for a few hours on Tuesday, after four power plants with a total generating capacity of 1,331 megawatts (MW) went on forced outage, the grid operator said.
Local governments urged to extend Jan. tax, permit deadlines
LOCAL GOVERNMENT units (LGUs) need to consider extensions for paying real property tax and obtaining business permits due to a fresh coronavirus surge, Senator Maria Lourdes Nancy S. Binay-Angeles said.
Gov’t to cap purchases of paracetamol, other OTC drugs
THE GOVERNMENT said it is rationing purchases of paracetamol and other over-the-counter medicines as a result of increased demand during the latest surge in coronavirus disease 2019 (COVID-19) cases.
MRT-3 rail car overhaul passes halfway milestone
THE Department of Transportation (DoTr) said on Tuesday that more than half of the light rail vehicles of the Manila Metro Rail Transit System Line 3 (MRT-3) have been overhauled and deployed.
World Bank flags difficulty in accessing trade info
INFORMATION on cross-border trade rules and penalties is largely inaccessible to trade companies and customs brokers in the Philippines, with possible detrimental effects on key stakeholders like women, the World Bank Group said in a report.
Digital payments legislation expected to expand unbanked access
A BILL seeking to promote the use of digital payments was intended to help expand the economic participation of the unbanked, one of its principal authors said.
Project to locally manufacture oral coronavirus drug approved
THE Board of Investments (BoI) approved an application by Lloyd Laboratories, Inc. to register for incentives to locally manufacture Molnupiravir, an oral drug to treat coronavirus disease 2019 (COVID-19).
Shell pays P3.5 billion in taxes on alkylate imports under protest
PILIPINAS SHELL Petroleum Corp. (PSPC) has paid in full the P3.49 billion in disputed alkylate import taxes levied against it, but under protest, the Bureau of Customs said.
Port projects awarded in Mindoro, Quezon and Batangas, PPA says
THE Philippine Ports Authority (PPA) said it recently awarded a number of port projects, including the expansion of Puerto Galera Port in Oriental Mindoro and San Andres Port in Quezon and the construction of an operations area at the Port of Calatagan in Batangas.
Customs post-clearance audits for 2021 yield P1.5 billion in revenue
THE Bureau of Customs (BoC) collected over P1.5 billion in additional revenue in 2021 from post-clearance audits on importers.
Ceramic shower bases now subject to quality certification
THE Department of Trade and Industry (DTI) said ceramic shower bases will join the list of products required to undergo quality certification.