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SEC Wants Access to Bank Accounts

The Philippines is applying to be part of the IOSCO (International Organization for Securities Commission). It is an association of corporate regulators that manages the securities and future markets globally. And because of this, the Securities Exchange Commission seeks to...
soda can

Arguments Against Higher Tax on Sweetened Beverages

Marikina Rep. Romero Quimbo, chairman of house committee on means and ways said that the bill imposing tax on sweetened drinks will be passed in December, before the Christmas break. In a text message he said, "We will approve it...
soda

Higher Taxes On Sweetened Drinks Could Lead To Labor Retrenchment

The ways and means committee of the Lower House has approved on Tuesday the bill seeking to impose P10 excise tax on sweetened drinks. HB 3365 bill was authored by Nueva Ecija Representative Estrelita Suansing and was strongly opposed by beverage manufacturers....
alberto lina

Bureau of Customs Fails to Meet October Collection Target

This is the fourth month that the Bureau of Customs (BOC) was not able to meet its collection target. The last time it was able to achieve its goal was in June. For October, the bureau has collected P31.8 billion which...
balikbayan_philippines

Bureau of Customs Increases Levies on Balikbayan Box Containers by 125%

Two months ago, OFWs were angered because of the very strict regulation imposed by the Bureau of Customs (BOC). Balikbayan boxes were opened and manually inspected by customs officials that caused a lot of complaints. Then on August 24th, the President took action...
bangsamoro basic law

“Acceptable, Meaningful’ BBL Supported By PH Business Groups

Business leaders like Vicente Lao, chairman of the Mindanao Business Council agree to support the chance to achieve peace. Economic intervention, according to business leaders is the key to resolve the long conflict in Mindanao and they are pushing political...
BSP-building

BSP Sets New Regulations on Marketing of Financial Products

Due to the complexity of financial products being offered in the market, BSP has issued new rules for its supervised financial institutions to prevent clients to invest in unsuitable products. BSP Gov. Amando Tetangco Jr. said, "They (banks) have to have...
Makati_skyline

PH To Gain P5-10 Billion Investments If Gov’t Simplify Business Regulations, World Bank Says

Every country has business regulations that business owners and entrepreneurs must follow to avoid penalties and complaints. At the recent launch of the 2016 Doing Business Survey in which the Philippines dropped to 103rd, the World Bank said that simplifying...
HONG KONG-PHILIPPINES-ECONOMY-REMITTANCES

Impact on OFW Remittances as the Greenback Appreciates

OFW remittances prove to be one of the major reasons why our economy keeps going. It is one of the major sources of foreign exchange inflows. However, the strengthening of the US dollar has raised concerns about its effects on the...
pnoy

Aquino Sings His 10 Economic Achievements To Country’s Leading Businessmen

The Philippine Chamber of Commerce and Industry, the country's largest business organization held its 41st Business Conference on October 26-27 at the Marriot Hotel in Pasay City. The Philippine Business Conference (PBC) is an annual gathering and dialogue of policy...
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PAL Shells-out $500 to $700 Million For New Aircrafts

After PAL exited receivership in 2007 and after a brief management takeover by the San Miguel Group from 2012-2014 PAL has fully recovered and re-established itself as one of Asia's premier carriers. PAL will be spending from $500million to $700...
typhoon

Lando’s Massive Economic Damages Reach P5.9B

Tropical typhoon Lando, with international code name Koppu, which made a landfall in the Philippines on Sunday has caused a massive impact on the country's economy. According to the Department of Agriculture, the damage has reached 5.9 billion. About 277,060...
income tax

Lower Taxes Pushed By Congress

We recall that in September, President Aquino objected against the proposal to reduce income tax rates. The bill already in Congress calculates for P30-billion revenue losses in government collections and Aquino has not been convinced that reducing taxes would bring...
election

8 Profitable Business Ideas on Election Season

When election stories start to hit the headlines of all media channels and trend on all social platforms, business minded people smell profitable business opportunity. As the presidential face off starts to fire up -- people bickering here and there,...