NEDA bares list of new flagship infrastructure projects [The Philippine Star, March 1, 2024]
The National Economic and Development Authority (NEDA) has identified the projects that were added to the government’s list of infrastructure flagship projects (IFPs).
IRS launches crackdown on 125,000 wealthy ‘non-filers’ [Inquirer.Net, March 1, 2024]
Beginning this week, the IRS will start sending out noncompliance letters to more than 25,000 people who earn more than $1 million per year and 100,000 people with incomes between $400,000 and $1 million who failed to pay their taxes between 2017 and 2021.
Batangas sugar refinery stops operations [The Philippine Star, March 1, 2024]
Listed sugar and ethanol producer Roxas Holdings Inc. (RHI) yesterday said it permanently ceased the operations of its wholly owned subsidiary Central Azucarera Don Pedro Inc. (CADPI) in Batangas to slash its losses.
SC: MMDA has no power to expropriate private property [Philippine Daily Inquirer, March 1, 2024]
Citing Sections 3 and 5 of the Republic Act No. 7924 that created the MMDA, the Supreme Court said that the provisions made “no mention at all of the power to expropriate.” The case dates back to September 2007 when Diamond Motor was informed that the MMDA was planning to demolish the floodwall within 10 meters from the strip of the bank of the San Juan River.
Parts of NLEX to be closed for NALEX construction [The Philippine Star, March 1, 2024]
NALEX, according to the Toll Regulatory Board website, consists of two phases. The first phase is a “proposed 136.4-kilometer expressway that is envisioned to provide connectivity between the Metro/Mega Manila, the New Manila International Airport, and Central Luzon as an extension and/or linkage of the Metro Manila Skyway-Stage 3 at Balintawak.”
Hong Kong scraps property taxes [The Manila Times, February 29, 2024]
Hong Kong has long been among the world's least affordable residential markets, but property prices have retreated.
Vena Energy open to dialogue amid Rizal wind farm project issues [GMA News Online, February 29, 2024]
Singapore-based Vena Energy on Thursday said it remained open to dialogue with stakeholders after the Masungi Georeserve Foundation expressed concern over drilling operations for a wind farm project in the conservation area in Tanay, Rizal.
STI Education Systems to buy PSBA [Philippine Daily Inquirer, February 28, 2024]
Education and ports tycoon Eusebio Tanco is buying the 61-year old Philippine School of Business Administration, which has local campuses in Manila and Quezon City, in a bid to expand his school network.
Bogus ‘Ayala’ firms slapped with cease and desist order [GMA News Online, February 28, 2024]
Citing an order dated February 22, the SEC said it ordered “bogus” Ayala Corporation Group Inc., Ayala Corporation Budgetarian Online Shop, Global Online Ayala Corporation, Bellavita Ayala Corporation, and Ayala Corporation E Commerce to “immediately cease and desist from further engaging in the unlawful solicitation, offer, and/or sale of securities in the form of investment contracts without the necessary license from the SEC.”
Gwen orders to halt Cebu BRT construction in heritage buffer zones [Cebu Daily News, February 28, 2024]
Gov. Gwendolyn Garcia has ordered proponents of the Cebu Bus Rapid Transit (BRT) to halt civil works near Fuente Osmeña and the Capitol building for heritage protection purposes.
Iloilo City school to cease operations after 52 years [Inquirer Visayas, February 28, 2024]
In a letter to stakeholders, parents, teachers, learners, and alumni dated Feb. 15, Maria Lourdes Josefina Garcia, owner of St. Joseph School Iloilo, announced the institution’s permanent closure by the end of school year 2023-2024.
MMDA gives Filipino movies 3-year moratorium on amusement tax [GMA News Online, February 28, 2024]
MMC president and San Juan City Mayor Francis Zamora said the NCR mayors passed a resolution to help the Filipino movie industry.
Marcos: Conclusion on PhilHealth contribution hike coming ‘very soon’ [Inquier.Net, February 28, 2024]
PhilHealth contributions have increased from 4 percent to 5 percent of the employee’s monthly salary in 2024. Health Secretary Teodoro Herbosa has asked Marcos to suspend the hike, as Philhealth had enough money to give benefits.
$1-B Indonesia toll roads enter MVP-RSA mega merger talks [Philippine Daily Inquirer, February 26, 2024]
The toll road giant, whose Philippine portfolio spans over 300-kilometers and includes the North Luzon Expressway, Subic Clark Tarlac Expressway and Cebu-Cordova Link Expressway, is awaiting the upcoming results of the auction of a roughly 700-kilometer portion of the Trans-Java project.
Warrants out vs big vape seller in P1.2-B tax case [Philippine Daily Inquirer, February 26, 2024]
The BIR said Tap Fog and its conspirators were charged for “unlawful possession or removal” of products subject to excise tax without payment of the imposts, as well as for selling heated tobacco products and vapor products at a price lower than the combined excise and value-added taxes.
Massive debt, shrinking subscriber base: Why PLDT backed out of SkyCable deal and Converge steps in as ABS-CBN’s potential savior [Bilyonaryo, February 26, 2024]
A Babbler revealed that during the due diligence, PLDT discovered the extent of SkyCable’s liabilities, estimated at P13 billion. Despite still being open to paying the agreed-upon price, PLDT balked at absorbing such significant debts given SkyCable’s dire state.
https://bilyonaryo.com/2024/02/26/massive-debt-shrinking-subscriber-base-why-pldt-backed-out-of-skycable-deal-and-converge-steps-in-as-abs-cbns-potential-savior/business/
Jollibee Soars to Second Spot Among World's Fastest-Growing Restaurant Brands [Esquire, February 26, 2024]
Amid its aggressive global expansion, Jollibee Foods Corp. (JFC) has earned the distinction of being the world's second fastest-growing restaurant brand, according to Brand Finance, a leading independent brand valuation agency. Jollibee's brand value soared 51 percent to $2.3 billion, moving up from 20th to 17th in this year's Global Restaurant Rankings.
GSIS eyes more benefits for members [The Philippine Star, February 26, 2024]
Government workers can look forward to a Living Benefit program that the Government Service Insurance System (GSIS) is studying and is hoping to complete by April this year, following a significant increase in the GSIS Fund which posted last year a 33 percent increase in revenue that it now intends to plow back as benefits to its members.
PH paper makers cry foul over influx of imports [Philippine Daily Inquirer, February 26, 2024]
The Pulp and Paper Manufacturers Association of the Phils. will seek safeguards or antidumping measures for containerboards corrugating medium and testliner, materials that are typically used in packaging products.
Pera-pera lang daw? Disgruntled abogado files complaint against Casuela, PNB directors, execs with BSP over year-long salary holdback [Bilyonaryo, February 25, 2024]
In November last year, Go initially urged the board to formally investigate treasurer Maria Paz. D. Lim and human resources OIC Socorro D. Corpuz for allegedly withholding his salary illegally since March 2023. He said this action was carried out on instructions from higher management and without the board’s authorization.
Over 100 may lose livelihood as Zamboanga City mulls closing market due to bats [GMA News Online, February 25, 2024]
Over 100 stall owners at a night market in Pettit Barracks, Zamboanga City will have their livelihood affected once the city decides to suspend the market's operation due to the presence of bats.
BPO industry rides AI wave [The Philippine Star, February 25, 2024]
“The AI landscape is a battleground, demanding a strategic update to align goals with the ever-evolving realities of the Philippine IT-BPM sector. With a determined focus on upskilling and re-skilling, IBPAP charges forward to achieve ambitious targets for job creation and revenue by 2025,” IBPAP said.
CSC urges govt offices to adopt flexible working schemes [The Manila Times, February 24, 2024]
The Civil Service Commission (CSC) urged government agencies in Metro Manila to adopt flexible work arrangements (FWAs) to support initiatives of the Metropolitan Manila Development Authority to ease the traffic situation in the country.
Group lauds government action on nurse shortage [The Philippine Star, February 24, 2024]
The Clinical Care Associates (CCA) Upskilling Program – a collaboration of the government and the private sector launched last year – has produced around 300 graduates, PSAC Health Sector lead Paolo Borromeo said during a meeting at Malacañang on Thursday.
LGU execs to foreign retirees: Come to Iloilo [The Philippine Star, February 24, 2024]
Local government officials led by Mayor Jerry Treñas made a pitch for the potential of this city as a haven for retirees to the delegates in the Winter Escapade tour program.
Power firms to be probed for unfair competition [Philippine Daily Inquirer, February 24, 2024]
The Energy Regulatory Commission (ERC) and the Philippine Competition Commission (PCC) are joining forces to look into anticompetitive behavior in the power sector.
Aboitiz completes acquisition of Coca-Cola Philippines [The Philippine Star, February 24, 2024]
In a stock exchange filing, Aboitiz Equity Ventures Inc. (AEV) said the parties have closed the transaction following the completion of all the conditions precedent to the acquisition.
From aerocity to eco-haven: Ramon Ang-led SMC launches Philippines’ first biodiversity offset site [Bilyonaryo, February 23, 2024]
Located in Malolos, Bulacan, this project marks the launch of the country’s first biodiversity offset site, which is part of San Miguel Aerocity’s nature-based solutions for the development of the New Manila International Airport (NMAI) project.
Greggy Araneta’s son is new president of Araneta Properties [Rappler, February 23, 2024]
Luis Marcos Araneta, treasurer of Araneta Properties, was elected president replacing Alcid effective Thursday. Luis is the youngest son of Greggy and Irene Marcos Araneta, the President’s younger sister.
Biden's new rule on independent contractors wages war on workers, women and entrepreneurs [USA Today, February 23, 2024]
With its recent rule restricting the classification of independent contractors, the Biden administration has made it clear: It wants to wage war on workers – and is willing for women to be the collateral damage.
