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Delfin Lee fears probe will turn into political witch-hunt

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Chairman & President of Globe Asiatique Realty Holding Corporation. INQUIRER FILE PHOTO

Businessman Delfin Lee is worried that the Senate inquiry into the P6.6-billion property scam allegedly perpetrated by his Globe Asiatique (GA) development company in Pampanga was turning into a “political witch-hunt.”

Posted: April 12th, 2014 in Latest Business Stories | Read More »

Lawmaker wants Meralco franchise reviewed amid power rate hike bid

By
Akbayan party-list representative Walden Bello. INQUIRER FILE PHOTO

A partylist lawmaker is seeking a review of Manila Electric Co.’s (Meralco) congressional franchise for failing to protect the interest of its consumers from unjust power rate increases.

Posted: February 16th, 2014 in Latest Business Stories | Read More »

Probe sought of Home Guaranty Corp. losses

By
Abakada Rep. Jonathan de la Cruz. CONTRIBUTED PHOTO/www.congress.gov.ph

A party-list representative is seeking a House probe into the alleged gross mismanagement of the state-owned Home Guaranty Corp. (HGC), which has incurred P13.3 billion in losses in the past decade.

Posted: February 2nd, 2014 in Latest Business Stories | Read More »

House probe sought on HGC bankruptcy due to zero-coupon bonds

By
FIILE PHOTO

The House of Representatives is being urged to look into the gross mismanagement of the Home Guaranty Corp. (HGC), which buried the state firm in P13.296 billion in losses over a decade bridging the Arroyo and Aquino administrations.

Posted: January 29th, 2014 in Latest Business Stories | Read More »

Court orders arrest of 13 ex-DBP execs

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Former Labor Secretary Patricia Sto. Tomas, newspaper columnist Alexander Magno and 11 other former officers of the state-owned Development Bank of the Philippines (DBP) were ordered arrested on Thursday by the Sandiganbayan for complicity in granting P660 million in loans to a firm owned by businessman Roberto V. Ongpin in 2009.

Posted: August 2nd, 2013 in Headlines | Read More »

PH traders see China visit as best diplomatic tool

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filipino-chinese-chamber

A powerhouse group of Filipino businessmen is flying to Nanjing, China, in September to explore new investments and expansion opportunities even as diplomatic ties between the two countries remain frosty over a territorial dispute.

Posted: May 6th, 2013 in Latest Business Stories | Read More »

Stung by Aquino harsh words, Chinoy traders turn stingy

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filipino-chinese-chamber

Filipino-Chinese businessmen are still smarting from President Benigno Aquino III’s castigations on alleged tax evasion by some of its members.

Posted: May 3rd, 2013 in Latest Business Stories | Read More »

Luxury car importer probed

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Customs Commissioner Ruffy Biazon: Blames corruption. INQUIRER.net FILE PHOTO

The exclusive distributor of Porsche, Audi, Lamborghini and Bentley is facing scrutiny from the Bureau of Customs (BOC) for allegedly shaving its duty payments to the government by as much as P1 billion over the last five years.

Posted: April 13th, 2013 in Latest Business Stories,Motoring | Read More »

Now, Recto wants to cut income taxes

By
Sen. Ralph Recto. INQUIRER FILE PHOTO

With the Philippines getting an investment grade status for the first time in its history, “Mister e-VAT” thinks that the Aquino administration can now afford to reduce the taxes paid by fixed wage earners as a reward for their contribution to improving the government’s fiscal picture.

Posted: April 4th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Methods of Oil Smuggling

By
Oil firms cut diesel and kerosene prices as demand for fuel tapered off amid the tail-end of winter in the United States. AP FILE PHOTO

Outright smuggling is done by bringing petroleum into the country without duly reporting the shipments to customs officials.

Posted: April 4th, 2013 in Latest Business Stories | Read More »

Pilipinas Shell confirms smuggling

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Pilipinas Shell Petroleum Corp., the country’s second biggest fuel provider, identified two ways of smuggling petroleum products into the country aside from bringing them in through special economic zones and selling them tax-free outside the zones.

Posted: April 3rd, 2013 in Headlines | Read More »

Cagayan airport building hangars for jet-setting Asians

By

It was supposed to be a secret but the presence of Senate President Juan Ponce Enrile had to be explained.

Posted: February 21st, 2013 in Headlines | Read More »

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