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Monday, August 25, 2008 |
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BSP extends waiver on loan documents
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Small entreps get reprieve
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MICRO and small enterprises will be exempted
from submitting income tax returns and annual financial statements
when taking out a loan for another three years, after the Bangko
Sentral ng Pilipinas (BSP) extended this privilege.
The extension is a year more than what the
Chamber of Thrift Banks had requested. Before the extension, micro
and small enterprises could enjoy this privilege only until November
2 this year.
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Construction material prices shoot up
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PRICES of construction materials in Metro Manila
rose at a faster pace last month owing to soaring fuel prices,
according to the National Statistics Office (NSO).
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NFA rice bids jack up state subsidies
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SUBSIDIES to government owned and controlled
corporations (GOCCs) jumped by double-digits last month, the Bureau
of Treasury said.
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Banks’ overnight borrowing subject to tax
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FINANCIAL instruments or securities that a bank sells to the Bangko
Sentral ng Pilipinas (BSP) on condition that the latter would sell
these back to the lender will be subject to final withholding tax,
according to the central bank.
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San Miguel, Toyota unit eye joint
venture for grains depot buy-in
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SOUTHEAST Asia’s largest food and beverage
company is eyeing a joint venture with Toyota’s grains unit for
the acquisition of the Mariveles Grain Terminal (MGT) in the
province of Bataan.
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Toyota to put up second transmission-making unit
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Toyota Autoparts Philippines Inc. (TAP)
inaugurated on Friday a transmission production unit, which would
service the rising global demand for the Japanese carmaker’s
International Multipurpose Vehicle (IMV) product line.
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MacroAsia secures fiscal
incentives for mine deal
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MACROASIA Corp. said it has obtained tax incentives from the
government as a new domestic producer of nickel ore.
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Smart ties up with Western Union
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SMART Communications Inc. and Western Union Co. have partnered to
offer a mobile remittance service in the US and the Middle East.
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HGC plans new round of borrowing
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STATE-RUN Home Guarantee Corp. (HGC) plans to borrow anew in the
second quarter of next year to bolster its guarantee service for low
cost and socialized housing.
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Stocks to take cue from oil
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LOCAL share prices may see some bargain-hunting this week after
falling sharply last week, analysts said on Friday.
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Asean to pursue more FTAs
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SINGAPORE: Association of Southeast Asian Nations (Asean) is set
this week to finalize a free trade agreement with India and hold
talks with Australia and New Zealand, signaling the importance of
regional pacts amid fading hopes for a global trading regime.
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Oil weakens, but other commodities
rebound amid dollar’s rise
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OIL prices shed more than six dollars a barrel Friday after the
dollar firmed and as the world’s second-largest pipeline appeared
set to reopen.
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Impasse at global talks on carbon emissions
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ACCRA: Trading carbon emission rights between developed and
developing nations caused a split Sunday between delegates at
protracted international climate change talks in Ghana.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Time and motion: Surviving obsolescence
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STARTING within the next couple of days, all government agencies are
required to fast-rack the delivery of their services to the general
public. If they can’t do it, they must be shot to death. Or are we
dreaming again?
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