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Philippine coffee industry gets boost


MANILA:  Philippine coffee industry is expected to get a big boost after five government agencies vowed to collaborate in pushing the implementation of the country’s coffee roadmap. During the Third Philippine Coffee Conference held in Baguio City on Tuesday, the Department of Agriculture (DA), Department of Environment and Natural Resources, Department of Agrarian Reform, Department of Trade and Industry, and ... Read More »

BOP deficit more than doubles in 2 months


MANILA: The balance of payments (BOP) position of the Philippines continued to bleed as the deficit more than doubled in the first two months of the year with more US dollars exiting the country. Data released by the Bangko Sentral ng Pilipinas (BSP) showed the BOP shortfall reached $961 million in the first two months of the year, 116 percent ... Read More »

Customs assigns new district collectors in ‘major reshuffle’


MANILA:  In what it called a “major reshuffle,” the Bureau of Customs (BOC) has assigned new district collectors in several major ports to replace officials who failed to meet the February collection target. The BOC said in a statement that Carmelita Talusan, formerly assigned to the Port of Subic, formally assumed her district collector role at the Ninoy Aquino International ... Read More »

Philippine government destroying illegally imported cars


MANILA: Philippine government crushed a parking lot full of luxury, sports and classic cars on Wednesday as part of its aggressive public campaign against the illegal importation of vehicles. A bulldozer and an excavator were used to smash and drive over the fleet of vehicles, which had been in storage for several years and included eight Mercedes-Benz models, a Porsche ... Read More »

Philippine poor pay price for divorce ban


MANILA: For well-off people like politician Pantaleon Alvarez, getting out of a bad marriage in the Philippines is pricey but feasible  but for the nation’s poorest and most vulnerable citizens it is nearly impossible. That’s because heavily Catholic Philippines and the Vatican are the last two places on Earth where divorce is outlawed. For the nation’s 100 million people, the ... Read More »

Philippines seizes hundreds of smuggled animals


MANILA: Authorities seized on Tuesday hundreds of exotic animals smuggled into the Philippines, which is a regional hub in the illicit animal trade. The cache of some 300 creatures, which included squirrel-like sugar gliders, wallabies, and a threatened species of cockatoo, was one of the nation’s largest wildlife busts. Four suspects were arrested in the raid that turned up animals ... Read More »

Rappler lawyer cites loopholes in BIR’s tax complaint


MANILA: Rappler Holdings Corporation questioned the  for filing a criminal complaint against its two executives for allegedly evading P133.8 million in taxes. The BIR last March 2 claimed that Rappler had profited from the sale of Philippine Depositary Receipts (PDRs) to two foreign entities in 2015 and that it should pay income and value added tax (VAT) for the transaction.  The ... Read More »

Senate committee to probe new threat vs BPO sector


MANILA:  The Senate Committee on Science and Technology is set to investigate the threat of the Philippines’ new tax reform law to the business process outsouring (BPO) sector, said Senator Paolo Benigno “Bam” Aquino IV on Sunday, March 11. “After receiving reports that the BPO sector may need to reduce their workforce or set aside expansion plans in the country, ... Read More »

Philippine government vows to make Mindanao hub of agriculture


MANILA: Mindanao, the relatively poor and conflict-prone island in the southern Philippines, will be the “centerpiece” of President Rodrigo Duterte’s administration agenda to transform it into a major hub of agriculture and industry, the Philippine Finance chief said on Friday. Finance Secretary Carlos Dominguez said the government has lined up massive infrastructure projects in Mindanao. Five of the flagship infrastructure projects ... Read More »

Philippines exports grow at slowest pace in 14 months


MANILA: Following the data, the peso weakened to 52.14 to the U.S. dollar from Thursday’s close of 52.03, not far from a 12-year low of 52.45 reached in mid-February. The Philippine currency has fallen 4 percent this year. “The trade deficit has narrowed but remains at worrisome levels pointing to an elevated current account gap,” said ANZ economist Sanjay Mathur, ... Read More »

Philippine agency files complaint accusing news site of tax


MANILA: The Philippines’ tax bureau filed a criminal complaint on Thursday accusing news site Rappler and two executives of evading 133.8 million pesos ($2.6 million) in tax, the latest move against a network whose reporting has irritated the government. The case comes eight weeks after the Securities and Exchange Commission rescinded Rappler’s operating license for violating foreign ownership rules. Rappler ... Read More »

Philippines may be top investment destination for 2018 but more needs to be done


MANILA: The Philippines may have been named the top investment destination for 2018, but the government must provide more impetus particularly for foreign investors and encourage them to pour capital into the country, an economist said. Foreign companies, with their huge financial assets, could further contribute in the current administration’s efforts – especially on infrastructure – if only there was ... Read More »

Moving from creative industries to creative Philippines


MANILA: Creative Philippines was the battle cry used at a highly interactive roundtable organized by Arangkada Philippines last week to discuss “policy changes, initiatives and recommendations” to get “Creative Industries” into the position they deserve. And we were not talking about the position in this country only, we had clear ideas what role  Creative Philippines should play in the Association ... Read More »

Philippines lubricants market by type and by application outlook to 2021


MANILA: The Philippines lubricants market is undergoing rapid growth, majorly driven by boosting crude oil imports, thus assisting market players to offer more lubricants in the country. The stakeholders of this report include lubricant manufacturers, dealers, companies involved in research, automotive workshop owners in the Philippines and the new entrants and venture capitalists who wish to invest in lubricant market ... Read More »

Big bikes find stride in growing Philippine economy


MANILA:  A growing economy is driving demand for big bikes in the Philippines, elevating the status of the motorcycle that is more associated with utility than leisure, Japan’s Honda said. Honda brought its big bikes to Manila during the Christmas Season last year, challenging early market entrants Harley Davidson and Ducati. The company was “slightly conservative” on the Philippines, said ... Read More »

Philippines growth accelerates in Jan but bank lending slows


MANILA: The Philippine central bank on Wednesday released preliminary data for January domestic liquidity and bank lending. Production loans, comprising 88.4 percent of the combined loan portfolio of universal and commercial banks, grew 18.1 percent in January from a year earlier, slower than the previous month’s 18.6 percent rise. Consumer loan growth slowed to 20.3 percent in January from 20.8 ... Read More »

Excise tax take boosted by Train implementation


MANILA: Excise tax collections skyrocketed in January following the implementation of the Tax Reform for Acceleration and Inclusion (Train) law, data released by the Finance department showed. Bureau of Internal Revenue (BIR) chief Caesar recently reported P22.078 billion in collections for January, 81.69 percent higher year-on-year and surpassing the month’s P20.501-billion target, the department said in a statement on Monday. ... Read More »

PBA import Brown braced for Gilas Pilipinas physicality


MANILA: Former PBA import Ira Brown returned to the Philippines as part of the Japanese national team that faced Gilas Pilipinas for the 2019 FIBA World Cup Asian Qualifiers at the Mall of Asia Arena. Gilas won, 89-84. For Brown, playing against hostile crowds is nothing new. In fact, he looks forward to playing in front of a sold-out audience. “For ... Read More »

Philippine franchisee faces tax evasion case


MANILA :  The Philippines’ main tax agency filed on Friday a tax evasion complaint against Dunkin’ Donuts’ local franchisee, which is partly owned by a member of a wealthy family that President Rodrigo Duterte has publicly accused of dodging taxes. Golden Donuts Inc (GDI) is partly owned by a member of the Prieto family, which has announced plans to cede ... Read More »

Philippines mulls widening ban of workers to other countries after Kuwait


MANILA:The Philippines is assessing the situation of its citizens working abroad to find out if there is a need to widen the ban on the deployment of workers to include other countries than Kuwait, President Rodrigo Duterte said on Thursday. “We are doing an audit now and find out the places where we deploy Filipinos and our countrymen suffer brutal treatment and ... Read More »