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Belmonte bill on foreign ownership backed

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A group of economists and socio-political analysts backed a proposal of House Speaker Feliciano Belmonte Jr. to vest on Congress the power to set restrictions on foreign ownership in key economic sectors, including public utilities, property, mass media and advertising, educational institutions and development of natural resources.

Posted: February 9th, 2014 in Headlines | Read More »

Risky foreign ownership change

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If Speaker Feliciano Belmonte Jr. makes good on his earlier promise, the amendment of restrictive economic provisions of the Constitution will be high on the agenda of the House of Representatives when it reconvenes on Jan. 20.   Shortly after his election as Speaker last year, he filed a resolution seeking to amend the charter [...]

Posted: January 10th, 2014 in Columnists,Inquirer Columns | Read More »

In rebuilding, group cites need to remove investment barriers

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The relaxation of foreign ownership limits for public utilities will help facilitate the entry of money from abroad, which may be used to rebuild roads, and communication and power lines that were destroyed by Supertyphoon “Yolanda.”

Posted: November 16th, 2013 in Headlines | Read More »

Gov’t urged to relax foreign ownership rule

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An official of the Asian Development Bank (ADB) has urged the Aquino administration to relax foreign ownership rules as this will help the country attract bigger foreign direct investments (FDIs).

Posted: September 11th, 2013 in Editor's Pick,Headlines | Read More »

Lawyers question SEC’s liberal rules on foreign ownership in key industries

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The Supreme Court building in Manila. INQUIRER FILE PHOTO

The heir of human rights lawyer Wilson Gamboa and several lawyers asked the Supreme Court on Tuesday to declare as “unconstitutional” the liberal framework drafted by the Securities and Exchange Commission on foreign ownership in key industries like utilities.

Posted: July 30th, 2013 in Latest Business Stories | Read More »

SEC on foreign ownership limits: A healthy compromise?

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Our country’s rich history tells us that any form of foreign intervention—whether in the area of policy-making, military exercise, or business and investment—is always a sensitive subject. It never fails to stir a debate.

Posted: June 19th, 2013 in Columnists,Inquirer Columns | Read More »

Lawyer urges SEC to apply high court ruling on foreign ownership

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Lawyer Jose Roy III: Bucking the business community

The Securities and Exchange Commission (SEC) has been asked to stay true to the spirit of the Supreme Court ruling on foreign ownership, applying restrictions separately on each class of shares in utility companies.

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

Control test vs grandfather rule

Last week, the Supreme Court issued an entry of judgment on its ruling in June 2011 on the issue of foreign ownership in PLDT where it held that the 60-40 (percent) nationality requirement in public utility corporations, in favor of Filipinos, refers to common shares entitled to vote in the election of directors, not to the totality of the company’s capital stock.

Posted: January 17th, 2013 in Columnists,Inquirer Columns | Read More »

SEC softens stance on shares ownership rule

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The Securities and Exchange Commission is no longer keen on imposing a 60-40 percent local-foreign ownership restriction on each class of shares, as originally intended by the controversial Supreme Court ruling on the capital of Philippine Long Distance Telephone Co.

Posted: January 10th, 2013 in Editor's Pick,Headlines | Read More »

PSE seeks ‘safety valve’ in SEC’s foreign ownership guidelines

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While inclement weather continued to sideline Philippine markets, Asian emerging markets are likewise battling a “storm” arising from a capital flight to developed markets in anticipation of the US Federal Reserve’s tapering of its easy money policy. INQUIRER FILE PHOTO

The Philippine Stock Exchange is proposing some “safety valve” mechanisms to ensure compliance with foreign equity restrictions without discouraging capital flows within the regulatory framework being drawn up by the Securities and Exchange Commission.

Posted: December 21st, 2012 in Latest Business Stories | Read More »

Philippine stocks tumble on profit-taking, foreign ownership concerns

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stocks-1210

Local stocks tumbled on Monday due to profit-taking and concerns on foreign ownership regulations in the country.

Posted: December 10th, 2012 in Latest Business Stories | Read More »

Business groups warn SEC on foreign equity rules

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The country’s biggest business groups, led by the influential Makati Business Club, have urged the Securities and Exchange Commission to change its proposed rules on foreign ownership limits in Filipino firms, warning that the draft regulations in their current form would lead to a massive outflow of capital.

The country’s biggest business groups have urged the Securities and Exchange Commission to change its proposed rules on foreign ownership limits in Filipino firms, warning that the draft regulations in their current form would lead to a massive outflow of capital.

Posted: December 10th, 2012 in Editor's Pick,Headlines | Read More »

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