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PH faces WTO sanctions for rice importation policy

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Customs Commissioner John Sevilla. INQUIRER FILE PHOTO

No rice import permit, no entry. Customs Commissioner John Sevilla on Thursday said this directive will be observed by the Bureau of Customs (BOC) in monitoring rice imports in the country’s ports amid a legal opinion by the Office of the Government Corporate Counsel (OGCC) that the country stands to be sanctioned by the World Trade Organization (WTO) if it maintains this policy.

Posted: February 21st, 2014 in Latest Business Stories | Read More »

BIR checks taxes of Cedric Lee in wake of Navarro mauling controversy

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Cedric Lee. INQUIRER FILE PHOTO

First it was the National Bureau of Investigation. Now, it’s the Bureau of Internal Revenue (BIR) who is going after businessman Cedric Lee.

Posted: January 30th, 2014 in Latest Business Stories | Read More »

Meralco accused of jacking up rates

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Protesters wear masks as they hold a rally at the Philippine Supreme Court to coincide with the oral arguments on the power rates hike petition of Meralco, the country's largest electric power distributor, Tuesday, Jan. 21, 2014 in Manila.  AP FILE PHOTO

Manila Electric Co. (Meralco) engaged in anticompetition and price manipulation when it instructed a power-generating firm to sell power at a high price because this would jack up the price on the electric spot market as transactions there moved by the hour, Senior Associate Justice Antonio Carpio said on Tuesday.

Posted: January 22nd, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Looting losses tax deductible, says BIR chief

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Bureau of Internal Revenue Commissioner Kim Henares

Businesses which sustained losses from looting in the aftermath of Supertyphoon “Yolanda” can claim tax deductions on their income tax returns with the Bureau of Internal Revenue (BIR), Commissioner Kim Henares said on Thursday.

Posted: November 15th, 2013 in Latest Business Stories | Read More »

Court of Appeals affirms ruling favoring PLDT’s preferred-to-common shares deal

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PLDT-logo

The Court of Appeals has upheld a Makati City regional trial court’s decision declaring as a nuisance or harassment suit the petition filed by former Securities and Exchange Commission (SEC) chair Perfecto Yasay Jr., questioning the move of the Philippine Long Distance Telephone Co., (PLDT) to redeem the preferred shares of its stockholders and then converting them to common shares.

Posted: September 9th, 2013 in Latest Business Stories | Read More »

Danding Cojuangco wants PCA to pay

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Eduardo “Danding” Cojuangco. INQUIRER PHOTO

The camp of business tycoon Eduardo “Danding” Cojuangco is mulling the possibility of demanding compensation from the Philippine Coconut Authority (PCA) following the Supreme Court’s final ruling last month that the government owns Cojuangco’s shares in United Coconut Planter’s Bank (UCPB).

Posted: August 9th, 2013 in Latest Business Stories | Read More »

Pay Piatco P16B, court orders gov’t

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Ninoy Aquino International Airport Terminal 3. PHOTO BY RICK ALBERTO / INQUIRER.net

The Court of Appeals (CA) has ordered the government to pay the Philippine International Air Terminals Co. Inc. (Piatco), the builder of Ninoy Aquino International Airport (Naia) Terminal 3, “just compensation” amounting to $371,426,688.24 (about P16.2 billion) for the expropriation of the terminal.

Posted: August 9th, 2013 in Latest Business Stories | Read More »

Casino mogul Okada, bagman, 24 others face DOJ raps

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Kazuo Okada AP FILE PHOTO

The Department of Justice (DOJ) on Monday recommended the filing of charges against 26 people and corporations, including Japanese casino magnate Kazuo Okada; Rodolfo Soriano Jr., a former consultant of Philippine Amusement and Gaming Corp. (Pagcor); and lawyers of a law firm for violating the country’s antidummy laws.

Posted: July 16th, 2013 in Latest Business Stories | Read More »

Chamber of Mines takes part in Mining Act debate

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The Supreme Court has allowed the Chamber of Mines to take part in the oral arguments concerning the Mining Act.

Posted: June 25th, 2013 in Headlines | Read More »

Miners want to answer mining foes in SC

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Retired Chief Justice Reynato Puno: Motion for intervention. INQUIRER file photo

The Supreme Court will resume Tuesday hearing oral arguments on the petitions against the Mining Act of 1995 as retired Chief Justice Reynato Puno and retired Supreme Court Associate Justice Vicente Mendoza asked the high court to allow the Chamber of Mines to intervene and take part in the proceedings.

Posted: June 25th, 2013 in Latest Business Stories | Read More »

Gasoline dealers pursue suit vs Chevron for unfair competition

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A Caltex station in Las Piñas City is show in this photo taken on Sept. 9, 2012. Local oil companies including Chevron (which operates Caltex gas stations) are slashing prices of petroleum products effective Tuesday, Sept. 25, 2012, to reflect the uptrend of oil prices in the global market.  PHOTO BY RICK ALBERTO

Gasoline dealers have asked the Department of Justice (DOJ) to overturn the dismissal by a Makati prosecutor of its complaint against petroleum giant Chevron Philippines Inc., which it accused of unfairly competing with them by operating its own gasoline stations from 2003 to 2009.

Posted: June 23rd, 2013 in Latest Business Stories | Read More »

Court asked to reopen PLDT ownership issue

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A lawyer on Monday asked the Supreme Court to nullify a memorandum circular order issued by the Securities and Exchange Commission (SEC) that the regulator had applied in declaring that Philippine Long Distance Telephone Co. (PLDT) was compliant with the constitutional rule on foreign ownership.

Posted: June 10th, 2013 in Headlines | Read More »

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