Malaysian electronics company to expand in Philippines [The Philippine Star, September 2, 2024]
Malaysian electronics manufacturing services provider VS Industry Bhd has tapped AyalaLand Logistics Holdings Corp. (ALLHC) for its expansion in the Philippines.
NGCP fined P3.5M for ‘unjustified’ project delays [Philippine Daily Inquirer, September 2, 2024]
In a statement on Saturday, the ERC said the National Grid Corporation of the Philippines (NGCP) failed to follow its directives in rolling out in a timely manner capital expenditure (capex) projects, involving 10 developments.
Palace creates special economic zone in Iloilo [The Manila Times, September 2, 2024]
Proclamation 668 creates and designates a building and the parcels of land where it stands as an Information Technology Center, identified as Lot 16-E Psd-06-069682 and Lot 16-D-1 Psd-06-085931 in Iloilo City. The building designated is to be known as the Grid.
FLP honors law, business scholars [The Philippine Star, September 2, 2024]
Filipino law and business scholars will receive cash and other prizes at the awards ceremony of the Foundation for Liberty and Prosperity (FLP).
Marcos OKs Romblon Electric Cooperative’s 25-year franchise [GMA News Online, September 1, 2024]
Romblon Electric Cooperative (ROMELCO) has scored the approval of President Ferdinand “Bongbong” Marcos Jr. to operate distribution systems in the municipalities of Banton, Corcuera, and Concepcion for the next 25 years.
DBM eyes retroactive pay hikes for local gov’t workers [Philippine Daily Inquirer, August 31, 2024]
In a statement, Pangandaman pointed out that the Local Government Code of 1991, or Republic Act No. 7160, does not allow retroactive changes in how local government unit (LGU) employees are paid. This means that local governments cannot adjust past salaries or benefits based on new standards.
Renewables seen to dominate IPO scene in 2025 [Philippine Daily Inquirer, August 31, 2024]
Unicapital Securities Inc. head of research Wendy Estacio-Cruz told the Inquirer that they were expecting at least five companies to launch initial public offerings (IPOs) next year, given declining interest rates.
A Brown scraps plan to develop LNG terminal in Batangas [The Philippine Star, August 31, 2024]
A Brown Co. Inc. (ABCI) of businessman Walter Brown is abandoning its plan to build a floating liquefied natural gas (LNG) terminal in Batangas to focus on power generation for the time being.
DHSUD to work closely with private developers [The Manila Times, August 31, 2024]
The department's Pambansang Pabahay Para sa Pilipino (4PH) Program is aligned with the socioeconomic agenda of President Ferdinand Marcos Jr.'s administration and his vision for organized and well-planned settlements in the country.
PH positioned as hub for sustainable manufacturing, services [Philippine Daily Inquirer, August 31, 2024]
The Department of Trade and Industry (DTI) seeks to transform the country into Southeast Asia’s hub for smart and sustainable manufacturing and services.
Del Monte defers IPO of US subsidiary [The Philippine Star, August 31, 2024]
Del Monte Pacific Ltd. (DMPL), a Singapore and Philippine-listed company, has deferred the initial public offering (IPO) of its US subsidiary Del Monte Foods Inc. (DMFI).
Takeover of electric cooperatives opposed [The Manila Times, August 30, 2024]
In a statement on Thursday, the National Union of Workers in the Power Industry, an affiliate of the Sentro ng Nagkakaisa at Progresibong Manggagawa (Power-Sentro), said the takeover of the cooperatives under the guise of concession agreements, joint ventures and franchise grabs, will "not only transfer wealth but will also lead to the dissolution of unions and the loss of workers' security of tenure."
Senators back removal of PhilHealth’s single period of confinement policy [Manila Bulletin, August 30, 2024]
Under PhilHealth’s single period confinement policy, admissions and readmissions due to the same illness or procedure within a specific period of 90 days are only compensated once by PhilHealth.
Nippon Steel Calls for Japanese Tariffs on China’s Exports [Yahoo News, August 30, 2024]
Nippon Steel Corp., the world’s fourth largest steelmaker, wants the Japanese government to impose an anti-dumping tariff on Chinese steel, according to Executive Vice President Takahiro Mori. The company is lobbying Tokyo, along with other Japanese mills, to take protective measures due to concerns that exports from China will increase further, he said in an interview this week.
MWSS not liable to Bulacan gov't over Angat Dam use — SC [GMA News Online, August 30, 2024]
The Bulacan government previously asked a regional trial court (RTC) to compel the MWSS to pay a share of its use of the water resources from the dam.
Timberland Is Closing Its Doors in the PH [Spot.PH, August 30, 2024]
Timberland is known for its classic boots—the light brown leather pairs a.k.a the Yellow Boot that are meant for the great outdoors. They are tough and durable, just like the way they look. And now you have the perfect chance to score more than one pair when you visit Timberland stores nationwide.
Rizaleños at high risk for mercury exposure from cosmetics flagged by FDA — group [interaksyon, August 30, 2024]
Toxic chemical watchdog EcoWaste Coalition found Rizal Province at risk for mercury exposure after detecting 28 stores dealing with products initially banned by the Food and Drug Administration (FDA).
First PH space facility to rise in New Clark City [Manila Standard, August 30, 2024]
The Philippine Space Agency (PhilSA) signed a 50-year lease agreement with state-run Bases Conversion and Development Authority (BCDA) on Thursday to establish the country’s first modern space facility within the New Clark City (NCC) in Tarlac province.
PH has potential to be Asia’s shopping capital, Go says [Philippine Daily Inquirer, August 30, 2024]
Economic czar Frederick Go on Thursday said that the country has potential to become one of Asia’s shopping capitals, but this will depend on the passage of two important measures.
PT&T, partner to bring portable satellite dishes to PH [Philippine Daily Inquirer, August 30, 2024]
PT&T Corp. is joining the growing satellite broadband market in the country with the creation of a joint venture with Australian technology company Netlinkz Ltd. for the deployment of “smaller, portable and mobile satellite dishes.”
Filinvest to hop on tourism resurgence [The Philippine Star, August 29, 2024]
Filinvest Hospitality’s roster of hotels includes Crimson Resort and Spa Boracay, Crimson Resort and Spa Mactan, Crimson Hotel Filinvest City Manila, The Quest Hotels & Resorts in Cebu, Clark Pampanga and Tagaytay.
ERC strengthens rules on customer choice programs [Manila Standard, August 29, 2024]
The consumer choice program consists of the retail competition and open access (RCOA) and retail aggregation under the Electric Power Industry Reform Act of 2001 and the various programs under Republic Act No. 9513 or the RE Act such as the Green Energy Option Program (GEOP) and distributed energy resources (DER).
P888 For 30-minute trip: Bantayan flight opens [The Freeman, August 29, 2024]
Tourists and visitors alike can now avail of a 30-minute flight from the Mactan Cebu International Airport (MCIA) to Bantayan Island.
PH office space occupancy 3rd highest globally in H1 - consultancy firm [GMA News Online, August 29, 2024]
According to PRIME Philippines executive vice president Cholo Florencio, the country’s office rate was only behind Singapore’s 88% and India’s 85%. It is also higher than the global average of 70%, the United States’ 62% and Europe’s 60%.
PAGCOR shortens POGO work permits until Dec. 31, 2024 [GMA News Online, August 29, 2024]
In an announcement uploaded on the PAGCOR website, the gaming industry regulator said that its Board of Directors, on Aug. 15, 2024, approved the adjustments in the validity of POGO workers’ permits or Offshore Gaming Employment License (OGEL).
Marcos signs 'Loss and Damage Fund Board Act' [Rappler, August 29, 2024]
The board will oversee the fund that seeks to help vulnerable countries deal with the unavoidable and irreversible impacts of the climate crisis.
SEC revokes Lucky South 99 registration [The Philippine Star, August 29, 2024]
“Considering that nowhere is it stated in its primary purpose that Lucky South 99 Corp. is authorized to engage and/or act as a Philippine offshore gaming operator in the Philippines, the activity of Lucky South 99 Corp. that intends to mislead or deceive the public into believing that it was authorized to conduct the aforesaid activities is considered an ultra vires act and therefore constitute serious misrepresentation,” the EIPD order said.
Swiss Banker Says Super-Rich Tax Proposal Is 'Nuclear Bomb' for Switzerland [USNews, August 28, 2024]
The initiative by the Young Socialists (JUSOs), the youth arm of Switzerland's leftist Social Democrats (SP), proposes levying a 50% tax on inheritances and gifts above 50 million Swiss francs ($59.30 million).
Supreme Court denies viral post on alleged data breach [ABS-CBN News, August 28, 2024]
The viral post claimed the breach allegedly exposed sensitive legal data of over 13,000 records, including names, case details, and payment information, from the Judicial Electronic Payment System (JEPS).
