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Manila RTC: Courts have no authority to prevent collection of sin taxes

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

The Manila City Regional Trial Court Branch 17 refused to restrain the Department of Finance and the Bureau of Internal Revenue (BIR) from enforcing the rules and regulations of Republic Act 10351, or the Sin Tax Law of 2012.

Posted: January 17th, 2013 in Latest Business Stories | Read More »

SC stops BCDA from bidding out P13.3B property in Taguig

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FAVORED PROJECT  The Bases Conversion and Development Authority recommends Metro Pacific Tollways Corp.’s unsolicited proposal to build a 13-kilometer elevated road connecting the North and South Luzon Expressways.

The Supreme Court stopped the Bases Conversion Development Authority (BCDA) from bidding out the P13.3-billion property in Bonifacio South area in Taguig City.

Posted: January 11th, 2013 in Latest Business Stories | Read More »

Phoenix Petroleum reduces price of diesel, increases that of premium gas

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PHOTO FROM PHOENIXPHILIPPINES.COM

Phoenix Petroleum Philippines on Monday announced that it will reduce the price of diesel by 15 centavos per liter but increase the price of premium gasoline by the same amount per liter.

Posted: January 7th, 2013 in Latest Business Stories | Read More »

PDIC files estafa complaint vs. 88 depositors of shuttered Legacy banks

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PDIC logo

The Philippine Deposit Insurance Corp. (PDIC) on Thursday filed before the Department of Justice (DOJ) a complaint for estafa against 88 depositors for allegedly defrauding the government by P9.73 million.

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

13 DBP execs dismissed over behest loan fiasco

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Ombudsman Conchita Carpio Morales. INQUIRER FILE PHOTO

Ombudsman Conchita Carpio Morales dismissed from service 13 officials from the Development Bank of the Philippines (DBP) for granting P660 million in behest loans to Deltaventures Resources, Inc. (DVRI) in 2009.

Posted: December 6th, 2012 in Latest Business Stories,Photos & Videos | Read More »

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