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A supplement to Package 2 of the government’s Comprehensive Tax Reform Program (CTRP) will be submitted to Congress later this month, Finance Secretary Carlos Doinguez 3rd said on Tuesday. “By the end of the month, we shall also be submitting Package 2 Plus, which includes taxes on tobacco, alcohol, mining,…

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THE stock market on Tuesday notched its sixth record high for the year, ending the day just shy of 9,000 as investors discounted news that Philippine economic growth had slowed last year. The Philippine Stock Exchange index (PSEi) added 0.54 percent or 48.40 points to close at 8,999.02, the highest…

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The peso fell back into P51 per dollar territory on Tuesday following the announcement that Philippine economic growth had slowed in the last three months of 2017. The currency closed at P51.10 against the greenback, its weakest in over two weeks and down 27 centavos from Monday. “The peso depreciated…

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Continued reforms that will level the playing field for businesses are needed amid rising challenges, the new chief of the Management Association of the Philippines (MAP) said. “Many challenges are happening that disrupt the usual flow of organizations’ operations — advancements in technology, innovation in business models, prominence of borderless…

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A proposed takeover of Philippine Dealing System Holdings Inc. (PDS) has been approved in principle by the board of state-run Land Bank of the Philippines (LandBank). “LBP Board just approved in principle to acquire at least 66.67 percent common shares of Philippine Dealing System subject to compliances with all legal…

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Non-stock savings and loan associations (NSSLAs) will have to establish know-your-member (KYM) guidelines under new rules approved by monetary authorities. In a statement, the Bangko Sentral ng Pilipinas said its policy-making Monetary Board had approved guidelines on the establishment of identities and the eligibility of persons to become NSSLA members,…

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HAVE public stockholders become desperate that some of them email newspaper columnists to air their grievances? This is the question I ask myself when I receive complaints via email from readers of The Manila Times. “Could you help me where I could file a complaint against SMDC?” wrote one reader.…

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The Department of Energy (DoE) issued on Tuesday a circular on the new policy on awarding petroleum exploration contracts in the Philippines. Department Circular DC2017-12-0017, or the Philippine Conventional Energy Contracting Program of Awarding Petroleum Service Contracts (PSCs), aims to process applications and award service contracts to interested applicants in…

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The Energy Regulatory Commission (ERC) recently met with various consumer groups to hear their concerns and discuss major issues affecting the Philippine power sector. In a statement, the agency said ERC Chairman and CEO Agnes Devanadera discussed with representatives from the Freedom from Debt Coalition (FDC) and the United Filipino…

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We are happy when we have choices. Choices give us the feeling that we are in control. It also gives us a sense of freedom and flexibility, whether it is deciding on the route to take using the options provided by Waze, or the food to pick at a buffet…

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