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Philippines’ Duterte vows comfort for Russian drug suspects


  MANILA: Philippine President Rodrigo Duterte has pledged two accused Russian drug traffickers will be detained in a “comfortable house”, rather than his nation’s badly over-crowded jails. Duterte made the commitment at a meeting late Monday with Russian Prime Minister Dmitri Medvedev on the sidelines of a regional summit in Manila. “I would just like to say that we have ... Read More »

PAL fully pays P6-B fees to government


MANILA:  Flag carrier Philippine Airlines (PAL) settled yesterday its P6 billion in unpaid navigational fees and other charges to the government.  In a statement, the Department of Transportation (DOTr) said Clara de Castro, PAL vice president for legal affairs, brought the checks to the office of the Civil Aviation Authority of the Philippines (CAAP) in Pasay City yesterday. A check ... Read More »

Right man, computerization key to solving corruption in BOC


MANILA: Business groups are supporting President Duterte’s decision to reject a proposal of his allies in the House of Representatives to take over the helm of the Bureau of Customs (BOC), saying that corruption in the agency will not be the addressed even with the nation’s top official in charge. For local and foreign business groups, fully computerizing the BOC ... Read More »

BOC begins mass recruitment of 2,000 new employees


MANILA: The Bureau of Customs (BOC) has opened plantilla positions for additional 2,000 employees. Those who will be hired will fill in the vacant positions in the agency in accordance with the directive of BOC Commissioner Isidro Lapeña to strengthen the agency’s operation. Among the vacant positions are in the Administrative Department and intelligence agents. In an interview on the ... Read More »

Philippines expects October inflation of 3.2-3.7%


MANILA: The Philippine central bank said on Monday annual inflation in October was expected within the 3.2% to 3.7% range, with higher energy costs, water rates and a weaker peso contributing to upward price pressures. Headline inflation in September was 3.4%, bringing nine-month average inflation to 3.1%. Average inflation is expected to remain within the government’s target range of 2-4% ... Read More »

Philippines, Russia sign two military deals


MANILA: Thousands of assault rifles and helmets were among the military gear Russia donated to the Philippines in a bid to widen its arms market in Southeast Asia at a time when Manila is seeking to diversify weapons systems, officials said on Wednesday. Manila received about 5,000 Kalashnikov rifles, 5,000 steel helmets, about a million rounds of ammunition for the ... Read More »

TCS inks pact with National University in Philippines

Switzerland, Italy inks accord to exchange tax data

MANILA: Tata Consultancy Services (TCS) today said it has signed a pact with the National University in the Philippines to launch a comprehensive, long term plan to enhance the skills-readiness of varsity graduates for the job market. Through new digital courses, updated curriculum, faculty training, workshops and internships, nearly 5,000 students enrolled at National University will now have access to ... Read More »

Philippine dairy imports seen declining by 10%

dairy imports

MANILA: Philippine dairy imports this year may decline by almost 10 percent to 2.5 million metric tons liquid milk equivalent (MMT-LME), from a record-high of 2.77 MMT-LME last year, according to the latest Global Agricultural Information Network (Gain) report. The Gain report, which was prepared by the United States Department of Agriculture’s Foreign Agricultural Service (USDA-FAS) in Manila, said imported ... Read More »

BOC warns public against online love scam


MANILA:  The Bureau of Customs (BOC) has cautioned Filipino and foreign netizens against an online scam that lures victims with fake love and promises. Customs Commissioner Isidro Lapena issued the warning after receiving reports of increasing incidents of the internet scam, citing data from the bureau’s help desk, BOC-CARES. From January to September 2017, the help desk had received a ... Read More »

Meralco sales rise over 4% in 9 months


MANILA: Sales of power distributor Manila Electric Co. (Meralco) went up over four percent in the first nine months of 2017 – a significant growth coming from a high base last year – following a strong third quarter performance, its top official said yesterday. On the sidelines of the executive seminar on fostering dynamic competition in the Philippine power industry ... Read More »

Philippine Customs cuts inspection queues


MANILA: The Philippine Bureau of Customs has adjusted its rules requiring X-ray inspection of shipments after long queues of trucks hampered ports, according to Inquirer. New rules relaxing cargo security protocols were scheduled to go into effect from October 12, 2017. From then on, shipments bound for economic zones; perishables and reefers would not require mandatory X-ray examination. Importations by ... Read More »

Philippine rice imports in 2018 to hit 1.7 MMT

rice imports

MANILA: Philippine rice imports next year could increase by more than half to 1.7 million metric tons (MMT), from the 1.1 MMT projected for 2017, according to the United States Department of Agriculture (USDA). The USDA Foreign Agricultural Service (USDA-FAS) had earlier said that the scrapping of the quantitative restriction (QR) on rice would boost demand for lower-priced imports. The ... Read More »

Customs collections up 18.7% in Sept

customs export

MANILA: Import duties and taxes collected by the Bureau of Customs (BOC) jumped 18.7 percent to a monthly record high of P39.54 billion in September, missing its monthly target by a hairline. Last month’s cash collection was the highest achieved for a month and exceeded the collection of P33.3 billion in the same month last year, according to Customs commissioner ... Read More »

Philippines posts net portfolio inflows in Sept


MANILA: Philippine central bank on Thursday released data on net foreign portfolio investment in September. Net inflows Sept Aug July June May April March ($ mln) 112.63 -57.5 206.5 72.6 -24.4 51.5 -459.9 Foreign portfolio investment transactions in the nine months to September yielded net outflows of $206.25 million, compared with the $1.3 billion net inflow in the same period ... Read More »

Philippine exports, imports up in August

imports and exports

MANILA: Exports and imports in the Philippines increased in August 2017, preliminary data from the Philippine Statistics Authority (PSA) showed. The PSA said on Tuesday, October 10, that total imports payments went up by 10.5% to $7.92 billion in August 2017, from $7.17 billion in the same month a year ago. Meanwhile, total export receipts reached $5.51 billion, up 9.3% ... Read More »

Customs chief relieves 38 officials in BoC reshuffle


MANILA: Customs Commissioner Isidro Lapeña removed eight port district collectors since Oct. 4: Elvira Cruz of Cebu; Romeo Rosales of San Fernando; Julius Premediles of Limay; Jose Naig of Iloilo; Carmelita Talusan of Subic; Divina Garrido of Legazpi; Halleck Valdez of Zamboanga; and Tomas Alcid of Aparri. Lapeñas also removed 30 section chiefs from the Formal Entry Divisions of the ... Read More »

Philippines Bureau of Customs suspends balikbayan box guidelines

Philippine BOC

MANILA: The Philippines Bureau of Customs has temporarily suspended guidelines on duty and tax-free balikbayan boxes. On Oct. 5, the Bureau of Customs said it will suspend two custom regulations on the balikbayan boxes. The suspension of the orders will last until March 2018. Under the previous orders, Filipino citizens who sent boxes to the Philippines would also have to ... Read More »

Lapeña bares corrupt BOC execs’ scheme


MANILA: Bureau of Customs (BOC) Commissioner Isidro Lapeña yesterday disclosed a scheme where corrupt officials make a profit by withholding the release of tax credit certificates. TCCs are documents issued primarily by the BOC to reimburse taxes paid for imported raw goods that should be tax-exempt under the law. Lapeña said corrupt bureau officials get a cut of three to ... Read More »

PHL seen importing more US poultry


MANILA: The volume of poultry products that the Philippines would import from the United States this year would likely exceed 90,495 metric tons (MT), according to the USA Poultry and Egg Export Council (USAPEEC). USAPEEC Vice President of Marketing Greg Tyler said the increase in demand for US poultry during the holidays would allow American exporters to surpass their shipments ... Read More »

AirAsia Philippines will seek US$250mil IPO

IPO (Initial Public Offering) on coin stacks with white backgrou

MANILA: The Philippines unit of AirAsia Bhd is seeking to raise up to US$250 million via an initial public offering (IPO) in mid-2018 to fund its expansion programme, its chief executive said on Tuesday. Asia’s biggest low-cost airline, which has nine units in the region, is beefing up its fleet in the Philippines amid an expected long-term boom in budget ... Read More »