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Philippines

BOC seized P2M worth of smuggled glutinous rice

rice seizes

MANILA: The Bureau of Customs (BOC) has discovered misdeclared goods inside a container van from Hong Kong. Its accompanying documents states it contains apparels such as undergarments. But following X-ray inspection, the Customs personnel discovered sacks of glutinous rice worth to about P2-million. “This has been the result of our intensified activity with the help our X-ray machine. This has ... Read More »

PH inflation seen manageable this year

inflation

MANILA: An analyst on Tuesday said he is expects inflation to be manageable for the full year amid an uptick in global oil prices. Speaking to ANC’s Market Edge, Security Bank economist Angelo Taningco said while crude prices are slowly inching up, they remain below the $50-per-barrel cap. “We think oil price uptick will not be that sharp. We maintain ... Read More »

Philippines Ports in sister port agreement with Haikou

pp

MANILA: The Philippine Ports Authority (PPA) has entered into an agreement with Haikou’s Port and Shipping Authority to become sister ports and work together to improve services in respective areas of jurisdiction. The agreement was signed by PPA general manager Jay Daniel Santiago and Port and Shipping Authority of Haikou City director general Lin Jian. Under the agreement, the two ... Read More »

Ex-Customs Chief Faeldon detained at Senate

ex customs

MANILA: Senate detained former Customs Commissioner Nicanor Faeldon on Monday. Senator Richard Gordon said Faeldon told him he is not willing to face Senators Ping Lacson and Antonio Trillanes IV during the Senate probe. Faeldon on September 8 said he’d rather be detained than attend another Senate hearing on the shabu mess. The Senate Blue Ribbon Committee on September 7 ... Read More »

PDEA officer in Valenzuela drug raid eyed for customs post

Philippine BOC

MANILA: Following the resignation of Customs Intelligence and Investigation Service chief Neil Estrella, Bureau of Customs (BOC) Commissioner Isidro Lapena is looking to get Philippine Drug Enforcement Agency (PDEA) regional director Wilkins Villanueva on board as the new CIIS chief. Lapena said he intended to appoint two other PDEA officers to hold additional critical posts within the BOC. “I have ... Read More »

Philippines new Customs chief vows ‘zero tolerance’ for corruption

Philippines new Customs chief
Customs Commissioner Isidro Lapeña

MANILA: On his first day on the job, new Customs Commissioner Isidro Lapeña vowed to regain public trust in his agency by observing “zero tolerance” for corruption in the Bureau of Customs (BOC). Lapeña, outgoing chief of the Philippine Drug Enforcement Agency (PDEA), bared his plan at the BOC turnover ceremonies on Wednesday, August 30, where he officially took over ... Read More »

Philippines economy seen to stand out in Asia this year

economy

MANILA: The International Monetary Fund (IMF) sees the Philippine economy as a “standout” in Asia, although tax reform and infrastructure buildup will be needed to sustain growth. In a statement issued Friday, the DOF quoted Luis E. Breuer, head of the IMF’s recent 2017 Article IV Mission to the Philippines, as telling Finance Secretary Carlos Dominguez III and other economic ... Read More »

Philippines debt prepayments climb 35% to $2b

rise

MANILA: Debt prepayments by Philippine borrowers including the national government rose 35.1 percent in the first four months, resulting in the further weakening of the peso against the dollar, the Bangko Sentral ng Pilipinas (BSP) reported. Prepayments on foreign debt by public and private firms reached $2.01 billion from January to April, $523 million higher than the $1.49 billion recorded ... Read More »

PH exports post strong performance, grow 14% in first semester

exports

MANILA:  Philippine exports weathered a slowdown in external demand in June to register a strong first semester performance reflecting growth of 14%, Trade Secretary Ramon Lopez reported Thursday. “We always ensure that exports are both resilient and diversified in terms of products and markets,” the Department of Trade and Industry chief said. Total merchandise exports for the period January to ... Read More »

Philippines logistics survey finds reliability as key supply chain concern

supplychain

MANILA: A survey by the Department of Trade and Industry (DTI) links low logistics performance in the Philippines to high logistics cost, and identifies reliability as the leading supply chain performance issue for stakeholders. The same survey found logistics cost per sales in the Philippines higher than many neighbors in ASEAN; and logistics cost per sales based per region highest ... Read More »

Philippines BIR files P80m tax evasion case against 4 firms

tax evasion

MANILA: The Bureau of Internal Revenue (BIR) on Friday filed criminal complaints before the Department of Justice (DOJ) against four corporate taxpayers and their officials for violating tax laws. Criminal complaints were filed against Ke Ti Coatings Inc. and its president Smith Chua for violating Sections 254 and 255 in relation to Section 253 (d) and 256 of the National ... Read More »

Philippines imported more food in 2016: PSA

grains - food - edibles

MANILA: The Philippines continued to purchase more food from abroad last year, as agricultural imports rose 10.6 percent to $12.52 billion in 2016, from $11.32 billion in 2015, according to the Philippine Statistics Authority (PSA). Data from the PSA showed that the increase in food imports widened the country’s agricultural trade deficit to $7.24 billion in 2016, from $6.17 billion ... Read More »

Tech exports to propel Philippine growth in H2

A pedestrian passes a logo of Citigroup in Tokyo April 20, 2009.
REUTERS/Yuriko Nakao

MANILA: Citigroup Inc. expects the Philippines to enjoy the third fastest economic growth in the Asia-Pacific region in the second half due to higher tech exports. Johanna Chua, managing director and head of Asia Pacific Economic and Market Analysis at Citi, said the country is likely to book a gross domestic product (GDP) growth of 6.5 percent in the second ... Read More »

Broker reveals another person paying off Customs officials

payment

MANILA: Broker Mark Taguba said he’s not the only one who has been paying off Bureau of Customs (BOC) officials to facilitate the faster release of shipments. During the House of Representatives’ August 9 hearing on the ₱6.4 billion shabu shipment smuggled from China in May, Taguba mentioned a certain “Kimberly” who has bigger operations than him, bringing in as ... Read More »

Hike in Philippines feed wheat imports from Australia

ph-au-flags-20150521_319639440A6E46458CDE10A62F3064EE

MANILA: Four years ago, the Philippines was importing 3 million tonnes of wheat from Australia. Today, demand has doubled to about 6 million tonnes, according to Luke Mason, head of grains of Singapore-based Concordia Agritrading. Mr Mason said there was a massive jump for Australian wheat for feed in the Philippines in 2017 for its 7% tariff advantage over wheat ... Read More »

Philippines to sign tax pact with Brunei

Philippines_Brunei_Flags

MANILA: The Philippines is set to sign a double taxation agreement (DTA) with Brunei while eyeing to start negotiations with three other Asean countries as part of its commitments under the regional integration framework. Internal Revenue Assistant Commissioner Marissa O. Cabreros told the Inquirer yesterday that the Philippines’ DTA with Brunei was ready for signature, although the two countries have ... Read More »

Allegedly corrupt BOC officials pinpointed by customs broker at hearing

The Bureau of Customs (BOC) Philippines

MANILA: Hours after being granted legislative immunity from suit by the House of Representatives, a customs broker pinpointed who are the alleged corrupt Bureau of Customs (BOC) officials at a hearing on Monday (August 7). Mark Ruben Taguba, a customs broker who is being linked to the smuggling of P6.4-billion worth of illegal drugs from China, was among the resource ... Read More »

Customs exec, others in drug shipment mess on Immigration lookout

The Bureau of Customs (BOC) Philippines

MANILA: Bureau of Customs (BOC) official Larribert Hilario was placed on the Immigration Lookout Bulletin on Wednesday, August 2, upon the “urgent” orders of Justice Secretary Vitaliano Aguirre II. Hilario is the BOC’s Risk Management Officer implicated in the P6.4-billion worth of shabu shipment from China which was able to leave the country’s ports. The drugs were seized in May ... Read More »

Bureau of Customs house holds inquiry over P6.4b shabu shipment

Philippine BOC

MANILA: Philippine customs officials on Tuesday defended their bureau against allegations of inefficiency following the release of a P6.4 billion (US$ 126 million) shipment of illegal drugs via a special express customs lane. The Bureau of Customs (BOC), led by its Commissioner Capt. Nicanor Faeldon, faced a House of Representatives’ committee hearing, the second day of inquiry at the legislative ... Read More »

Philippines Speaker denies lobbying; letter to BOC released

Pantaleon_Alvarez

MANILA: Philippines Speaker Pantaleon Alvarez denied interceding with the Bureau of Customs for the promotion of what a BOC official described as an “unqualified” employee. “Certainly, the allegation is far from the truth, but I’m sorry I do not want to comment on that at the moment so as not to divert the drug issue being investigated by the HOR ... Read More »