Category archives for: Business

DOF, BOI agree on tax incentives

by Bernie Magkilat Manila Bulletin (Original link) The Board of Investments and the Department of Finance have agreed to  grant a longer reduced corporate income tax (CIT) at 15 percent for 15 years instead of 10 years to further sweeten the government’s tax incentives to investors. Trade and Industry Secretary Gregory L. Domingo, who is […]

CAB fines Cebu Pacific P52 million

by Emmie Abadilla Manila Bulletin (Original link) The Civil Aeronautics Board (CAB) is imposing a P52-million fine against Cebu Pacific Air over its “appalling numbers of delayed flights’ and ‘high absenteeism’ during the Christmas holidays which affected over 10,000 passengers. The government panel, composed of the CAB, the Civil Aviation Authority of the Philippines (CAAP) […]

Industry reports 30% growth in auto sales in 2014, sees 16% rise in 2015

by Bernie Magkilat Manila Bulletin (Original link) Motor vehicle sales in 2014 grew 30 percent marking another banner year as sales climbed to 234,747 units but industry players expect growth in 2015 to slowdown at 16 percent or 272,000 units only, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association […]

ALI sets P100-billion capex, raises P16-B cash

by James Loyola Manila Bulletin (Original link) Ayala Land, Inc., the country’s leading diversified property developer, is investing P100 billion for capital expenditures (capex) this year in support of its aggressive expansion program. In a disclosure to the Philippine Stock Exchange, ALI said it has just raised P16 billion to finance part of its massive […]

DOE wants ‘permanent fix’ to Albay power utility’s hurdles

by Myrna Velasco Manila Bulletin (Original link) When the management of the Albay Electric Cooperative (ALECO) was transferred into private sector hands, the Department of Energy (DOE) thought it would end its financial and technical travails, but it was an expectation that has not happened – at least not yet. The former employees of the […]

PCCI seeks repeal of BOC stuffing policy

Manila Bulletin (Original link) The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has expressed apprehension on the Bureau of Custom’s policy requiring Customs personnel to be present during loading schedules of exporters stressing it impedes trade and increases cost. “This policy is an impediment to trade facilitation and could further […]

Practicing what one preaches

by KIM BERNARDO-LOKIN SPECIAL CONTRIBUTOR Manila Times (Original link) As one saying goes, “the size of your success is measured by the strength of your desire.” These words hold deeper meaning for Luis Abiva Jr., since the industry he belongs to, is one that faced numerous challenges over the years, and continues to do so, […]

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