President Aquino amenable to P40-billion sin tax revenue

VIENTIANE, Lao People’s Democratic Republic, Nov. 6 (PNA/via PLDT/Smart) -– President Benigno S. Aquino III said on Monday that he is amenable to the lowering of the revenues to be generated by the Sin Tax measure at P40 billion but would be “happier” if it remained at the proposed P60-billion mark. The President said that although the proposed original amount had been downsized, his government could still use the new amount to manage the deficit and fund healthcare programs. “Mabuti sana kung 60 magagamit ng healthcare programs. For 40, I think, is also a good number,” the President said. “At … Continue reading President Aquino amenable to P40-billion sin tax revenue

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DAVAO CITY: More tax breaks for investors in emerging business districts

BY JOANNA C. BALANZA  The Davao City government is offering more tax incentives to investors locating in new Central Business Districts (CBDs) being developed outside of the congested downtown business districts.     The Davao City Investment and Incentive Code has added more tax perks, on top of old incentives, to businesses locating in the developing CBDs in the upland districts of Calinan, Baguio, Paquibato and Marilog, according to  Davao City Investment Promotion Center (DCIPC) head Jason Magnaye.     Magnaye said the investment and incentive code is undergoing amendments to attract more investors that include tax holidays that could stretch up … Continue reading DAVAO CITY: More tax breaks for investors in emerging business districts

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Ro-Ro ferry service for Davao-Bitung route

A Cebu City-based shipping line, Super Shuttle Ferry, will start plying the Davao-Bitung route next year. If plans pushes through, the shipping line’s Roll-on/Roll-Off (Ro-Ro) ferry service would start in January, said Research Education and Institutional Development (Reid) Foundation deputy team leader Marc Ayes, at the 8th General Membership Meeting of the Davao City Chamber of Commerce and Industry Inc. (DCCCII) recently. Exporters from both countries can benefit from better service like lower transportation cost, faster shipping time and safer shipment of products, said Ayes. Ayes said Mindanao shippers and representatives from Davao City Chamber of Commerce and Industry Inc. … Continue reading Ro-Ro ferry service for Davao-Bitung route

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ARMM ompanies expanding

     SIX COMPANIES currently operating in the Autonomous Region for Muslim Mindanao (ARMM) have received the green light to expand, according to information the Board of Investments (BoI) gave reporters on Friday last week.       The firms are Minirico Lumber Co., Inc.; Weena Express, Inc.; Alip River Development Export Corp.; Agumil Philippines, Inc.; Matling Industrial and Commercial Corp.; and Philippine Trade Center, Inc.     Minirico Lumber deals in trading wood products while Weena Express is a bus company. Alip River Development owns a banana plantation in Maguindanao while Agumil Philippines exports palm oil to China. Matling Industrial is a … Continue reading ARMM ompanies expanding

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BSP re-launches CdeO Financial Learning Center

CAGAYAN DE ORO CITY — The Cagayan de Oro Branch of Bangko Sentral ng Pilipinas (BSP) relaunched on September 4 its Economic and Financial Learning Center (EFLC). Lawyer Thelma C. Pantig, BSP-Cagayan de Oro Deputy Director said the center will serve as conduit between the BSP and the people of Misamis Oriental. She said the EFLC is a one-stop center where researchers, students and visitors can access data and information produced and acquired by the BSP in the areas of central banking, economics and finance. BSP Governor Amando M. Tetangco, Jr. and other officials will led the event attended by … Continue reading BSP re-launches CdeO Financial Learning Center

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Northern Mindanao exports hits $1 billion

    CAGAYAN DE ORO CITY — With the international ports in Cagayan de Oro as jumping boards, exporters in Northern Mindanao finally hit the $1 billion mark in exports last year, making it one of the few exporting regions in the country.     This was reported by PhilExport Cagayan de Oro during a meeting during the region’s development council. It started from a base of $300 million in 2002 which inched up yearly at a rate of 1.3 percent except in 2009 when it dived by almost half.     Overall, the export industry in Northern Mindanao expanded by 56 percent … Continue reading Northern Mindanao exports hits $1 billion

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BOI to hold ARMM investors’ forum

    The Board of Investments (BOI) is set to hold a business forum to drum up investor interest in the Autonomous Region in Muslim Mindanao (ARMM). “We are organizing a business forum for ARMM which will be held in September or October,” said Raul Angeles, BOI executive director for the Investments Servicing Group. He said no specific date has been set for the forum but that they are planning to hold it in Davao City. The BOI is organizing a business forum after the ARMM regional government asked for assistance to promote the region as an investment destination. “We want … Continue reading BOI to hold ARMM investors’ forum

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Mindanao with bright prospects in single ASEAN economy

    GENERAL SANTOS CITY — Mindanao is poised to benefit from the 2015 ASEAN (Association of Southeast Asian Nations) economic integration, the island being a focus area in the Brunei Darussalam-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA) sub-regional cooperation.     Secretary Luwalhati Antonino, chairperson of the Mindanao Development Authority (MinDA), voiced such optimism during an ASEAN 2015 Regional Integration forum recently.     The forum was capped by the launching of the Mindanao Trade Policy Center (MTPC), a body formed to act as a link for business chambers in Mindanao.     The center is a brainchild of the Philippine Chamber of … Continue reading Mindanao with bright prospects in single ASEAN economy

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Mindanao businessmen want Umbra Kato’s head

GENERAL SANTOS CITY – A business group in Mindanao urged the government and the Moro Islamic Liberation Front to jointly address the threat posed by the Bangsamoro Islamic Freedom Fighters (BIFF), a group formed by erstwhile MILF commander Ustadz Amiril Umra Kato.     Ricardo Juliano Jr., Philippine Chamber of Commerce and Industry vice president for Mindanao, stressed the need to employ the Ad Hoc Joint Action Group (AHJAG) mechanism against Kato and his followers.     AHJAG is a joint government and MILF mechanism in the peace process that seeks to interdict and isolate lawless elements that take refuge in or … Continue reading Mindanao businessmen want Umbra Kato’s head

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ARMM businessmen urge speedy signing of peace pact

    The Autonomous Region in Muslim Mindanao Business Council (ABC) wants the government and the Moro Islamic Liberation Front (MILF) to immediately sign a final peace agreement as a means to neutralize the threat posed by the Bangsamoro Islamic Freedom Movement (BIFM). Datu Haron Bandila, ABC chairman, said the offensives launched by the BIFM have been affecting the business community. “We want a final peace agreement that would also address the problems posed by this group. The business sector in the ARMM is worried by this turn of hostile events,” said Bandilla. Bandila said the business sector in the impoverished … Continue reading ARMM businessmen urge speedy signing of peace pact

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Zamboanga mining firm in P11.6 M cassava project

ZAMBOANGA CITY –- A mining company operating in two areas in the Zamboanga peninsula has initiated an P11.6 million cassava plantation project in Bayog town, Zamboanga del Sur that will benefit some 350 farmers in 20 barangays in the municipality. To firm up the project, the company, TVI Resource Development (Phils.) Inc. (TVIRD) has signed a memorandum of agreement (MOA) wth the Zamboanga del Sur provincial government for the establishment of the cassava plantation in Bayog. Zamboanga del Sur Governor Antonio Ceriles said “this is the biggest project that farmers have had in Bayog in so many years,” Renne Subido, … Continue reading Zamboanga mining firm in P11.6 M cassava project

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