Quezon City launches bid for UNESCO ‘Creative City of Film’ [The Philippine Star, October 3, 2024]
UNESCO’s City of Film is part of the wider Creative Cities Network, which seeks to promote cooperation among cities recognized through various creative films.
Salmon Group wants to boost Rural Bank of Sta. Rosa’s capital to P1.2-B by 2025 [GMA News Online, October 3, 2024]
Financial services provider Salmon Group Ltd. on Thursday announced plans to infuse fresh investments into the Rural Bank of Sta. Rosa (Laguna) Inc., as it aims to bring the bank’s total capital to P1.2 billion by the end of 2025.
Davao electric coop grilled over alleged power woes [The Manila Times, October 3, 2024]
During a recent hearing of the panel, Nordeco expressed its disapproval of a bill that would expand the franchise of Davao Light and Power Co. to its coverage area, which involves 16 municipalities and two cities in Davao del Oro and Davao del Norte.
Presidential adviser warns of '3rd wave of war' in Sulu after exclusion from BARMM [The Manila Times, October 2, 2024]
Presidential Adviser on Muslim Affairs Almarim Centi Tillah on Wednesday criticized the Supreme Court over its ruling that excluded Sulu from the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and warned that this could trigger "a third wave of war" in the province.
397-hectare Villar City land folded into Golden MV Holdings [Philippine Daily Inquirer, October 2, 2024]
Golden MV Holdings Inc., a real estate firm engaged in landbanking and developing estates led by Manuel Villar, has scored plots of land nearly six times the size of the Mall of Asia complex in a P5.2-billion deal meant to develop the company’s land bank within the Villar City “megalopolis.”
Bill seeking franchise for Elon Musk's Starlink filed in Senate [GMA News Online, October 2, 2024]
Citing Republic Act 3846 or the Radio Control Act, Poe explained that gateway earth stations qualify as "radio stations" which requires legislative franchise.
BIR: It’s up to digital services firms to raise prices after VAT law signing [Inquirer.Net, October 2, 2024]
This law mandates a quarterly tax on foreign DSPs such as video streaming platforms, mobile applications, online advertising spaces, search engine services, and social networks, among others.
Chemrez sees ramped up orders amid higher coconut blend in diesel [GMA News Online, October 2, 2024]
Chemrez Technologies Inc., a wholly owned unit of specialty chemicals and foods ingredients maker D&L Industries, is boosting the operations of its coco-diesel plant in Batangas amid increased orders following the government’s order to increase the coco methyl ester (CME) blend in biodiesel.
Foreign-owned shipping service in PH eyed to boost opportunities for Filipino seafarers [interaksyon, October 2, 2024]
CNC’s Luzon Visayas Mindanao Express (LVMX) would support the establishment of new maritime routes and connect major sea ports in the country.
New wage order takes effect today in Region VII [Cebu Daily News, October 2, 2024]
Wage Order No. ROVII-2, published on September 16, 2024, provides for an increase of P33 to P43 per day in Region VII, including the Negros Island Region (NIR).
SC: DPWH must pay firm P5.36M for rehab work [Philippine Daily Inquirer, October 1, 2024]
The case was based on the construction firm’s complaint over two contracts it entered into with the DPWH: one for the rehabilitation of the Gumain-Porac Division Channel for P2.7 million and another for the Abacan River cut-off channel in Manggahan Sto. Rosario, Mexico, Pampanga, worth P8.17 million.
Malacañang proclaims 19-ha new ecozone in Cavite [Philippine Daily Inquirer, September 30, 2024]
The Philippine Economic Zone Authority (Peza) said on Monday that President Marcos had signed last month Proclamation Nos. 669 and 677, which formalize the expansion of the existing Gateway Business Park and creation of the National Development Company Industrial Estate in Cavite.
BSP working to scrap inter-bank transaction fees [GMA News Online, September 30, 2024]
The Bangko Sentral ng Pilipinas is now working with banks to scrap interbank transaction fees, as he said the reserve requirement ratio (RRR) could be reduced to 0% during the term of BSP governor Eli Remolona Jr., the central bank chief said on Monday.
Morbidity study being readied among HMOs for rate assessment [The Philippine Star, September 30, 2024]
A morbidity study among health maintenance organizations (HMOs) and insurance firms is underway in a bid to update the pricing and valuation of various financial products.
South Korea’s Hanjin secures P16-B Cebu port project [Philippine Daily Inquirer, September 30, 2024]
The Cebu port is set to rise on a 25-hectare reclaimed area in Brgy. Tayud, Consolacion. The project includes a berthing facility with a 500-meter quay wall length that can accommodate two 2,000 twenty-foot equivalent unit vessels; operating facilities and structures for containers; an access road and bridge; and a dredged waterway and turning basin.
Sunlight Air to resume Manila-Coron flights with P688 promo fares [GMA News Online, September 30, 2024]
In an advisory, the carrier said it will restart its Manila-Busuanga route on October 27, 2024, which will operate daily between the Ninoy Aquino International Airport (NAIA) and the Francisco B. Reyes Airport in Busuanga.
PEZA: Indian firm planning to set up PH facilty [The Manila Times, September 30, 2024]
INDIAN pharmaceutical firm Aurobindo Pharma Ltd. plans to establish a facility in the Philippines to manufacture generic pharmaceuticals and active pharmaceutical ingredients (APIs), the Philippine Economic Zone Authority (PEZA) said last week.
PH banks fail to meet mandated lending to MSMEs, again [Philippine Daily Inquirer, September 30, 2024]
Rural and cooperative banks continued to do the heavy lifting in extending loans to micro, small and medium enterprises (MSMEs), as the entire Philippine banking industry failed again to meet its lending quota for the industry deemed as the backbone of the economy.
Altenergy eyeing DoE green energy auctions [The Manila Times, September 30, 2024]
Magbanua said Alternergy had the assets to participate in the third round, referring to the company's 174.4-megawatt (MW) Kiangan run-of-river hydro project in Ifugao, whose first phase is expected to come online by 2026.
DoubleDragon taps JPMorgan for Hotel101 expansion [The Philippine Star, September 30, 2024]
DoubleDragon Corp., the listed developer chaired by Edgar “Injap” Sia II, has tapped financial powerhouse JPMorgan for the global expansion of its Hotel101 brand.
Marcos: Tarlac battery plant makes PH ‘player’ in global clean energy storage [GMA News Online, September 30, 2024]
In New Clark City, Tarlac, Marcos led the inauguration of StB Giga Factory, which is dubbed as the Philippines' first manufacturing plant for advanced Lithium Iron Phosphate (LFP) batteries.
GSIS eyes DOF stake in Semirara [The Philippine Star, September 30, 2024]
State-run Government Service Insurance System (GSIS) could end up buying the Department of Finance (DOF)’s stake in Consunji-led Semirara Mining and Power Corp. (SMPC).
Disinformation on Masungi a paid, coordinated attack – BBC report [The Philippine Star, September 30, 2024]
BBC journalist Marc Silva uncovered around 100 Facebook accounts exhibiting troll-like behavior, actively working to tarnish the reputation Masungi Georeserve Foundation, the nonprofit that conserves the eco-tourism site. The accounts also simultaneously laud the Department of Environment and Natural Resources.
Marcos declares special non-working days in 5 areas [GMA News Online, September 29, 2024]
The holiday declarations were signed by Executive Secretary Lucas Bersamin, according to a media release from the Presidential Communications Office on Sunday.
‘Dream come true’ as P8-B bridge spans Panguil Bay [Philippine Daily Inquirer, September 28, 2024]
By reducing travel time between Tubod town in Lanao del Norte and Tangub City in Misamis Occidental from over two hours to just seven minutes, the bridge is expected to spur business growth in the northern and central Mindanao regions.
SC: Employer’s Insulting Words, Hostile Behavior Toward an Employee Constitute Constructive Dismissal [Supreme Court, September 27, 2024]
The Supreme Court ruled in favor of Bartolome. It emphasized that actions demonstrating extreme dislike and hostile behavior, such as demotion, uttering insulting words, and apathetic behavior toward an employee, constitute constructive illegal dismissal when such actions cause the employment conditions to be so unbearable that there is no other choice but to resign.
Metro Pacific Health seals expansion in Agusan del Sur [The Philippine Star, September 27, 2024]
Metro Pacific Health Corp. (MPH), the healthcare arm of conglomerate Metro Pacific Investments Corp., has sealed its expansion in Agusan del Sur with the completion of its acquisition of San Francisco Doctors Hospital.
US, Japan, Korea commit P1.6 B to improve BARMM's health services [Manila Bulletin, September 27, 2024]
The US Agency for International Development (USAID), the Japan International Cooperation Agency (JICA) and the Korea International Cooperation Agency (KOICA) have joined hands in a bid to advance Universal Health Care in the region.
DOF readies tax administration plan for Bangsamoro government [Inquirer Business, September 26, 2024]
The tax administration transition plan addresses the shift of tax administration duties from the Bureau of Internal Revenue (BIR) to the Bangsamoro Revenue Office. It includes sharing the BIR’s registration and other pertinent systems in anticipation of the Bangsamoro Revenue Code’s enactment.
QC approves 2-year tax exemptions for new medium, large businesses [Inquirer.Net, September 26, 2024]
Under the ordinance, new medium and large enterprises with an asset size of above Php 15 million excluding land value, may apply for a two-year exemption from business tax, amusement tax, franchise tax, and real property tax on registered land and new buildings constructed within two years from registration.
