Carlos Yulo's winnings, prizes tax-exempt: BIR [ABS-CBN News, August 26, 2024]
In a statement, the BIR said Section 32(B)(7)(d) of the National Internal Revenue Code (NIRC) states that all prizes and awards granted to athletes in local and international sports tournaments and competitions held in the Philippines or abroad and sanctioned by their respective national sports associations shall be exempt from income tax.
QC shuts down club for refusing to cooperate with mpox team [The Manila Times, August 26, 2024]
Padlocked was Fahrenheit Cafe and Fitness Center or F Club located along E. Rodriguez Sr. Avenue, Mayor Joy Belmonte said on Monday.
Metro Pacific eyes to add 2 more hospitals to network [Philippine Daily Inquirer, August 26, 2024]
The health-care arm of tycoon Manuel Pangilinan-led Metro Pacific Investments Corp. (MPIC) is hoping to complete the acquisition of its 25th hospital by next month, with the group eyeing to take over two more health facilities this year.
FFCCCII pushes for Greater Manila Bay Area development to attract investments [Business Mirror, August 26, 2024]
THE Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) is advocating for the development of the Greater Manila Bay area, inspired by the success of China’s Guangdong-Hong Kong-Macao Greater Bay Area, as a strategy to attract more investments and advanced technologies to the Philippines.
Villar files bill extending validity of vehicle registration [The Philippine Star, August 25, 2024]
Under the proposed measure, the validity of the certificates of registration for brand new motor vehicles shall be increased from the current three years to five years; for brand new motorcycles, to three years from the current one year.
Bilyonaryo News Channel expands business reporting to TV with new lineup [Manila Standard, August 25, 2024]
This new block of programs, slated for Monday to Friday, focuses on news and significant stories that affect the state of businesses and the economy, as well as in-depth analysis and discussions with industry leaders and experts on key issues and insights on corporate and public policy.
Maybank opens Islamic banking unit in Zamboanga [The Philippine Star, August 25, 2024]
The new Islamic banking unit is dedicated in offering Shariah-compliant products that align with Islamic principles, as an alternative banking opportunity particularly in areas where such services are not yet available.
Why John Gokongwei Jr. Donated Half of His Wealth to a Foundation [Esquire, August 24, 2024]
When John Gokongwei Jr., founder of JG Summit Holdings Inc., announced on his 80th birthday that he would donate 50 percent of his ownership in the company to the Gokongwei Brothers Foundation (GBF), many, including his entire family, were naturally caught by surprise.
Petition filed vs Camiguin QR code system [Inquirer Mindanao, August 24, 2024]
Under the ordinance, visitors who enter the province need to secure a QR code which would then require one to provide full name, birthdate, gender, civil status, nationality, address, mobile number, email address, and a front-facing photograph.
Philippines still world’s 2nd leading pineapple exporter [The Philippine Star, August 24, 2024]
Costa Rica remained as the world’s largest pineapple exporter with a total shipment volume of 3.2 million MT last year, according to the FAO.
Nextnorth ready to build $700-M war chest for PH expansion [Philippine Daily Inquirer, August 24, 2024]
Currently, the company has 472 megawatts (MW) of capacity under development, including a massive 440-MW solar power project in Ilagan City, Isabela.
120 LGUs now part of Paleng-QR Ph [The Philippine Star, August 24, 2024]
The Paleng-QR Ph Plus program supports the BSP’s efforts to boost digital payments for all community markets and local transportation. The program is one of the priority initiatives under the National Strategy for Financial Inclusion (NSFI) 2022-2028.
PCCI urges gov’t: Streamline trade policies [Cebu Daily News, August 23, 2024]
The Philippines’ largest business group urged the government on Wednesday to streamline trade policies, especially with the trade deficit now at $4.30 billion and a renewed focus on supporting MSMEs.
RTC urges erring notaries public to correct illegal practices [Cebu Daily News, August 22, 2024]
According to a Facebook post of RTC Cebu City, Moneva led the informal hearing which aimed to ‘address the alarming breaches of notarial duties and to reinforce the importance of adherence to the standards set by the 2004 Rules on Notarial Practice.’
Planned Calapan IT ecozone eyed to begin operations this year [Philippine Daily Inquirer, August 22, 2024]
The Philippine Economic Zone Authority (Peza) said this on Wednesday, noting the potential of the 10,000 square meter Calapan IT Park in making the province as a new growth area for their economic zones.
Chinese bizmen urged to invest in PH renewable energy sector [Inquirer.Net, August 22, 2024]
Ambassador Jaime FlorCruz encouraged Chinese investors to invest in the renewable energy sector in the Philippines during the recently concluded ASEAN-China Week.
Netflix execs back VAT on all digital services [The Manila Times, August 22, 2024]
In June, lawmakers approved a unified version of House Bill 4122 and Senate Bill 2528 during the bicameral conference, proposing a 12-percent VAT on digital services provided by both resident and nonresident digital service providers with no physical presence in the Philippines, including Netflix, Disney and HBO.
Aboitiz Group creates food, agribusiness powerhouse [The Philippine Star, August 22, 2024]
Pilmico, one of the leading flour and feed manufacturers and meat producers in the Philippines, and Gold Coin Management Holdings Inc., a pioneer in animal nutrition and the manufacturing of scientifically balanced animal feed in Asia, have launched their unified corporate brand called Aboitiz Foods.
SLU receives P2.3M aid from Didipio Mine [The Manila Times, August 22, 2024]
SAINT Louis University (SLU) in Baguio City received P2.3 million from the Didipio Mine in the upland and gold-deposit-rich town of Kasibu in Nueva Vizcaya for the procurement of equipment for its mining engineering laboratory.
Study to extend North South Commuter Railway to New Clark City underway [Philippine Daily Inquirer, August 21, 2024]
The extension may run a length of 20 kilometers from the NSCR’s depot beside the Clark International Airport (CRK), according to Arrey Perez, president and chief executive officer of Clark International Airport Corp., the state-owned firm overseeing the operations and maintenance of the CRK, which has been run by the private consortium LIPAD since 2019.
7-Eleven reminds official licensee in PH only one who can use store trademarks [interaksyon, August 21, 2024]
7-Eleven Philippines on Wednesday released a statement about the “unauthorized use of 7-Eleven trademarks” and said that the Philippine Seven Corporation (PSC) is the only one that can use its logo, trade name, and such.
Group seeks intellectual property body probe on Dali's 'knockoff' brands [GMA News Online, August 21, 2024]
A consumer advocacy group on Wednesday called on the Intellectual Property Office (IPOPHL) to conduct an inquiry into the alleged intellectual property violations of “knockoff” products being sold by Dali Everyday Grocery, claiming that the products are "confusingly similar" to established brands sold in the country.
P5,000 monthly pay set for BARMM kasambahay [The Philippine Star, August 21, 2024]
The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) is composed of the provinces of Basilan, Maguindanao del Sur, Maguindanao del Norte, Lanao del Sur, Sulu and Tawi-Tawi as well as the cities of Cotabato, Lamitan and Marawi.
DTI: 43 of 249 Metro stores violated price freeze [Philippine Daily Inquirer, August 21, 2024]
On July 26, the DTI issued an advisory on the automatic price freeze imposed in Metro Manila and at least six other provinces, which were placed under a state of calamity due to the severe effects of Supertyphoon “Carina” (international name Gaemi) and the southwest monsoon.
SM bags Muntinlupa land triple size of MOA [InquirerPlus, August 21, 2024]
Conglomerate SM Investments Corp. (SMIC) is set to acquire from a subsidiary a vast tract of land in Susana Heights, Muntinlupa spanning 184 hectares (ha)— about three times as large as the sprawling Mall of Asia complex in Pasay—to further widen its footprint in the populous metropolis.
UAAP, Akari to build new arena in Pasig [Manila Bulletin, August 20, 2024]
The University Athletic Association of the Philippines (UAAP) has partnered with Akari Lightning & Technology Corp. to build a 6,000-seater "Home of the UAAP" at Bridgetowne in Pasig City.
PhilHealth to review single period of confinement rule [Inquirer.Net, August 20, 2024]
The Philippine Health Insurance Corp. (PhilHealth) will assess the possible removal of a policy prohibiting readmissions under one case benefit among its members.
GM To Cut More Than 1,000 Software Jobs [Nasdaq, August 20, 2024]
Auto major General Motors Co. is laying off more than 1,000 salaried employees in its software and services division across the world, mostly in the U.S., with a view to streamlining its operations, reports said.
DigiPlus targets Brazil’s iGaming market after legalization [Manila Bulletin, August 19, 2024]
The firm considered the fastest-growing digital entertainment group in the country, registered a 377 percent surge in net income to P5.2 billion in the first half of the year from P1.1 billion in the same period a year ago.
