Business

BIR shortfall widens to 16.5%

April 15, 2014 9:01 pm

The Bureau of Internal Revenue (BIR) improved its tax collection in March compared with the year-earlier level, but still fell short of the month’s target, with the gap widening from previous months. The shortfall in March has doubled to 16.5 … Read more »

PH shares back at 6,600-mark on Wall Street rise

April 15, 2014 9:01 pm

AFTER a two-day correction, Philippine shares gathered enough fuel from positive global developments to break past the 6,600-mark anew. On Tuesday, the Philippine Stock Exchange index (PSEi) ended higher, rising 32.11 points or 0.49 percent to 6,621.66, while the wider … Read more »

OFW remittances mark 2nd month slowdown

April 15, 2014 9:00 pm

Personal remittances by overseas Filipino workers (OFWs) in February rose from a year earlier but marked a second monthly slowdown since December 2013. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that remittances in February grew 6 percent … Read more »

Vietnam state firms lowest bidders in PH rice tender

April 15, 2014 9:00 pm

The Philippines may award to two Vietnamese companies the contracts for the supply of 800,000 metric tons (MT) of rice following Tuesday’s open tender. In an interview, National Food Authority (NFA) spokesperson Rex Estoperez said that two Vietnam state-owned companies—Vinafood … Read more »

Mines bureau eyes local production of sponge iron

April 15, 2014 8:59 pm

The Mines and Geosciences Bureau (MGB) is now advancing studies on sponge iron as part of efforts to develop downstream industries for iron ores and take advantage of increasing demand both locally and abroad. Citing the results of an initial … Read more »

UK-backed initiative urges transparency in PH mining

April 15, 2014 8:59 pm

In support of the Philippine government’s economic growth agenda, a civil society group is working on a project to improve transparency and accountability in extractive industries, or those involving the country’s natural resources. Bantay Kita, a civil society representative in … Read more »

Cebu Pacific upgrades Taipei flights to Airbus A330

April 15, 2014 8:59 pm

The Philippines’ leading low-cost carrier Cebu Pacific will utilize its 436-seater Airbus A330 aircraft for its seven weekly frequencies between Manila and Taipei from May 2 to June 3. Cebu Pacific is increasing the number of seats available from Manila … Read more »

Hyundai PH expects stronger sales in 2014 after flat Q1

April 15, 2014 8:58 pm

The local arm of Korean carmaker Hyundai on Tuesday announced modest sales growth for the first quarter of 2014, but expects sales to gain momentum for the remainder of the year on the back of a robust economic climate. Hyundai … Read more »

Citi profits rise as it seeks to bounce back

April 15, 2014 8:57 pm

NEW YORK: Citigroup on Monday (Tuesday in Manila) reported slightly higher quarterly earnings on lower expenses and better credit quality as it faced questions over its capital planning and financial controls following recent stumbles. The banking giant, facing scrutiny over … Read more »

The majority’s power over independent directors

April 15, 2014 8:54 pm

THE battle for proxies in the election of members of the board of listed companies is long gone. In the absence of an intense fight for a board seat, majority stockholders simply choose more nominees than their holdings would allow … Read more »


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The majority’s power over independent directors

DUE DILIGENCER

Faith at work . . . in the workplace

MANAGING FOR SOCIETY