Manila FAME 2020 trade show canceled in favor of digital
THE Department of Trade and Industry’s export promotion arm is cancelling the 71st Manila FAME trade show as it shifts to digital promotion activities.
Rural banks increase health and agriculture lending
LOAN DISBURSEMENTS by rural banks to essential sectors such as health and agriculture rose during the pandemic, the industry association said.
Asia-Pacific must set loftier electrification goals — ADB expert
THE Asia and Pacific region should set more aggressive targets for universal electricity access over the next decade, an energy sector expert from the Asian Development Bank (ADB) said.
COVID-19 and its accounting implications
By Ma. Emilita L. Villanueva
In last week’s article, we discussed the challenges of assessing an entity’s status as a going concern, accounting for financial instruments, impairment of non-financial assets and revenue recognition. This week’s article will provide brief discussions on inventory costing and valuation, addressing onerous contracts and assessing whether events surrounding the pandemic and the resulting developments are adjusting or non-adjusting events.
EU to “reorient” €15 million in grants for PHL pandemic response
THE EUROPEAN UNION (EU) will be "reorienting" grants worth up to €15 million (around $17.08 million or P844 billion) for the Philippines' fight against...
Reports of counterfeiting, piracy spike in first half
COUNTERFEITING and piracy reports at the country's intellectual property office spiked in the first half after a significant jump in reports during the lockdown.
Intellectual...
Deadline of power utilities’ development plan moved to August
THE DEPARTMENT of Energy (DoE) deferred to end-August the deadline for the submission of the 2020-2029 distribution development plans (DDP) of all power utilities...
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.