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Gov’t confident in PHL’s future as investment destination

ACCORDING to the United Nations Conference on Trade and Development’s (UNCTAD) 2019 World Investment Report, released in June, global investment flows in 2018 fell 13% to $1.3 trillion, marking the third consecutive year that global flows have fallen.

Trade dep’t launches Halal-certified logo

THE Department of Trade and Industry (DTI) said it launched the official Philippine Halal logo, which will be used to identify all Halal products made in the country.

Tariff Commission deadline to report on cement safeguards expires

A CONSUMER GROUP said the Tariff Commission’s (TC) hearings to evaluate safeguard duties on cement are “moot and academic” because the commission failed to comply with the timelines provided by the law.

Meralco-led consortium’s joint venture with BCDA gets PCC approval

THE Philippine Competition Commission (PCC) has approved the proposed joint venture between the Bases Conversion and Development Authority (BCDA) and the consortium of Manila Electric Co. (Meralco) and Japanese firms Marubeni Corp., Kansai Electric Power Co., Inc. and Chubu Electric Power Co., which will undertake the development of a power distribution system in New Clark City (NCC).

PEZA to commission independent study on impact of eco-zone incentives

THE Philippine Economic Zone Authority (PEZA) said it will commission an independent study to establish which of its fiscal incentives the are effective in driving economic growth, to establish the case for retaining the perks when the legislation comes before Congress.

Dyson seeks pioneer-status incentives for Philippine-made products

THE PHILIPPINE UNIT of Dyson Electronics Pte. Ltd., a British-founded technology company that anounced a strategic relocation to Singapore, is seeking pioneer status from the Philippine Economic Zone Authority (PEZA) to manufacture hair dryers, vacuum cleaners and motors for its appliances.

PSALM to auction off two power plant properties

TWO state-owned facilities in Misamis Oriental and Cebu are being auctioned off by the Power Sector Assets and Liabilities Management Corp. (PSALM).

Economic team sees prolonged trade war, armed conflict as biggest risks...

THE GOVERNMENT has warned that prolonged trade disputes or the outbreak of armed conflict in strategic parts of the world pose big risks to even small trading economies like the Philippines.

Ban on new NCR eco-zones puts P34B in BPO investment at...

SOME P34.238 billion worth of business process outsourcing (BPO) projects are at risk due to President Rodrigo R. Duterte’s recent order to halt the processing of economic zone applications in the National Capital Region.

French delegation asks for more sectors to be opened to foreign...

A DELEGATION from France has urged the Philippines to ease investment rules in more sectors, particularly in public service and retail, the Department of Trade and Industry said following a bilateral economic meeting between Manila and Paris.

Jollibee targets 50% revenue share from foreign stores in 5-7 years

JFC Holdings Corp., which controls the Jollibee fast food chain, said it hopes to achieve a 50/50 mix between foreign and domestic store revenue in five to seven years, noting that growth rates are stronger at its overseas locations.

Metro Pacific Hospital makes tender offer for shares in Makati Medical...

METRO Pacific Hospital Holdings Inc. (MPHHI) has made an offer to buy P2.261 billion worth of shares from Medical Doctors Inc. (MDI) to boost its stake in the latter to 49.9%.

DoE touts expressions of interest for energy exploration

THE Department of Energy (DoE) said its Philippine Conventional Energy Contracting Program (PCECP) continues to attract interest from potential investors.

PSEi falls back below 8,000

THE MAIN INDEX ended the week back below the 8,000 mark for the first time in eight trading sessions on Friday, leading a fall across Asia as investors took profit ahead of top-level Sino-US trade talks at the sidelines of the G20 summit in Osaka, Japan this weekend.

J.P. Morgan notes Philippines luring relocating businesses

THE PHILIPPINES, along with neighbors Indonesia, Malaysia, Thailand and Vietnam, can expect to benefit from decisions to relocate by companies adversely affected by the ongoing trade war between China and the United States, investment bank J.P. Morgan said in a June 26 report e-mailed to journalists on Wednesday evening.

DTI issues order limiting store signage to English, Filipino

THE Department of Trade and Industry (DTI) said it issued an order to all businesses to restrict the language used in their signage and marketing materials to English or Filipino only.

Power group seeks veto of solar firm’s franchise

THE Philippine Independent Power Producers Association, Inc. (PIPPA) asked President Rodrigo R. Duterte to veto a bill granting a renewable energy (RE) distribution franchise to Solar Para sa Bayan Corp.

Review of Solar Para sa Bayan franchise sought

BUSINESS groups are urging President Rodrigo R. Duterte to order a Cabinet-level review of the bill that granted Solar Para sa Bayan Corp. (SPB) a renewable energy (RE) distribution franchise, citing the undue advantage it will have over other RE players.

DTI to release incentive scheme for EV firms, parts makers

THE Department of Trade and Industry said it is working on a “special program” that will attract investors to various segments of the electronic vehicle (EV) industry all across the value chain.

Economic zone proclamations hit snag for IT industry — PEZA

THE Philippine Economic Zone Authority (PEZA) and the business process outsourcing (BPO) industry said they will seek more time to meet the requirements of the Office of the President (OP) to obtain an official proclamation for economic zones.

DTI counting on TRABAHO bill to expand supplier networks

THE Department of Trade and Industry (DTI) said it hopes the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) bill will help develop supplier networks here to make economic zones more attractive for potential locators.

Ateneo set to be PHL’s 1st ‘Smart 5G campus’

PLDT, Inc.’s wireless arm Smart Communications, Inc. on Thursday said it has inked a memorandum of understanding (MoU) with the Ateneo de Manila University for the development of next-generation applications and services that will run on Smart’s 5G wireless network.

Vivant goes into water treatment with Israeli firm

VIVANT CORP. is diversifying into the water treatment business through a joint venture formed by its subsidiary and an Israeli company.

Manila Water inks deal with weather data provider

MANILA Water Co., Inc. said it tapped Weather Solutions, Inc. as its exclusive weather data provider, a move seen to boost the efficiency of its dam operations and management.

DTI, DICT tap blockchain firm

MONSOON Blockchain Storage, Inc. has partnered with two government agencies to provide support and consultancy services on how to leverage blockchain technology in various areas of operations.

Auto parts suppliers hope to pass BMW standards

LOCAL suppliers are hoping that automotive electronics solutions made here can satisfy the standards of German auto maker BMW AG, which is looking into expanding its supply network in the country.

Government urged to phase in teacher pay hike

BUSINESS groups said the government should implement any pay hike for public school teachers in phases in order to keep inflation contained and not hinder the government’s other spending priorities.

New Congress to look into power shortage

THE next Congress will look into warnings of a power shortage caused by the Supreme Court ruling requiring distribution utilities to implement a competitive selection process for their power supply agreements (PSA), a senator overseeing the chamber’s energy committee said.

Faster review of some M&As allowed

THE PHILIPPINE Competition Commission (PCC) is allowing faster review of certain merger and acquisition (M&A) deals that are “less likely to substantially prevent, lessen, or restrict competition” in the market.

Regional energy project backed by USAID, ADB to unlock private investment

THE ASIAN Development Bank (ADB) and the United States Agency for International Development (USAID) signed Tuesday an agreement to mobilize about $7 billion worth of investment for energy projects in Asia and the Pacific.

NEA claims 13M new rural power connections since 2016

THE National Electrification Administration (NEA) said it achieved its short-term goal of connecting 13 million additional households ahead of the 50th anniversary of the Rural Electrification Program in August.

Napocor projects in Palawan qualify for expedited approvals

THE Department of Energy (DoE) has designated Palawan capacity addition and transmission projects proposed by the National Power Corp. (Napocor) as energy projects of national significance (EPNS), a milestone that allows for expedited approvals for such projects.

Fruit exports, auto parts imports seen key to South Korea FTA

THE Department of Trade and Industry (DTI) said it will seek to balance of the interests of the agriculture industry, which wants to export more produce to South Korea, and the auto and parts industry, which might be disadvantaged by Seoul’s demands for lower tariffs for its products.

DTI says corruption in gov’t now more reportable under new law

THE Department of Trade and Industry (DTI) encouraged Cebu-based businesses to file complaints and report on corrupt practices they encounter in government transactions.

PSEi falls amid geopolitical tensions

LOCAL equities finished Friday in negative territory as investors took caution over the geopolitical tensions at home and abroad, particularly the continued worries over the US-China trade tensions and the attack on two oil tankers in the Middle East that was seen as a cause for the increase in oil prices.

BMW exploring parts supply network in PHL

BMW AG is exploring the possibility of ordering more auto parts from the Philippines, according to the Department of Trade and Industry (DTI), which will organize a business matching event to line up potential suppliers for the German automaker.

Inspection of LGU-led power projects due for completion this year

THE Department of Energy (DoE) said it will complete within the year its inspection of power projects implemented by local government units (LGUs) covered by new rules allowing them to benefit financially from such projects.

Reforms eyed to boost FDI inflows

FOREIGN direct investments (FDI) inflows to the Philippines dropped in 2018 even as most Southeast Asian countries saw gains that pushed the region’s overall haul for the year to an all-time high.

Price of hotdogs may jump in July — Frabelle

THE Frabelle Group of Companies said the price of hotdogs may jump by 20% next month if the government fails to retain the 5% import tariff for mechanically deboned meat (MDM) for chicken which meat processors have enjoyed for nearly a decade.

Investment pledges climb 40% in January-May

FRESH PROJECTS pledged at the Board of Investments (BoI) in the first five months of the year climbed 40.1% from a year ago, with power projects spurring the growth.

PCC, Energy dep’t agree to cooperate in competition probes

THE Philippine Competition Commission (PCC) and the Department of Energy (DoE) have signed an agreement that will allow for coordination in their power sector investigations.

Antonio-led start-up offers licensing concepts for celebrity entrepreneurs

A NEW start-up is aiming to provide celebrity-designed franchising and licensing options in fashion, health, beauty, and food businesses.

PCCI urges agencies to commit to corruption-free dealings

THE Philippine Chamber of Commerce and Industry (PCCI) said government agencies, including local government units (LGUs), need to make public declarations renouncing corrupt practices to help improve the investment environment.

ERC sets hearing on Mindoro wind project connection to Napocor line

THE ENERGY Regulatory Commission (ERC) said it will hold this month a hearing to evaluate the Philippine Hybrid Energy Systems, Inc.’s (PHESI) application to develop, own and operate a transmission line that will connect its 16-megawatt wind farm in Oriental Mindoro to one of National Power Corp.’s transmission lines.

CCC tells investors to seize opportunities in renewable energy

THE Climate Change Commission (CCC) said the renewable energy sector is among the “biggest” opportunities for investment amid the global shift by companies seeking ways to pursue a greener energy strategy.