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Biz Buzz: Conflict at the TOP

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Change is coming to the top echelon of the Bureau of the Treasury (BTr) soon. Well, close to the top, to be more accurate.

Posted: March 6th, 2013 in Editor's Pick,Headlines | Read More »

BOC’s P22.8B Feb. take still P1.24B short of target

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customs

The Bureau of Customs (BOC) collected a little over P22.8 billion in revenue in February, around P614 million, or 2.8 percent, more than it collected in the same period last year.

Posted: March 5th, 2013 in Latest Business Stories | Read More »

Appelate court foils takeover attempt on PNCC

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pncc logo

Philippine National Construction Corp. (PNCC) has fended off an attempt by businessman William Gatchalian to take control of the company after the Court of Appeals ruled that the government was correct to reject the latter’s P1.2-billion bid during PNCC’s failed privatization effort for being way below the floor price.

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

PSALM expects financial position to improve

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psalm

State-run Power Sector Assets and Liabilities Management Corp. (PSALM) expects its cash flow to improve over the next four years, after regulators allowed it to collect P53 billion in universal charges for stranded contract costs from all power consumers.

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

Biz Buzz: Energy shakeout

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An organizational restructuring at the Department of Energy is apparently leaving some employees “demoralized to the point of wanting to resign.”

Posted: February 25th, 2013 in Editor's Pick,Headlines | Read More »

PPA beats revenue goal, collects P8.9B

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Aerial view of Cebu Ports Authority (CIP) operations. Government revenues from the various freight and passenger ports around the country inched up in 2012 amid higher cargo volumes and improved collection efficiency, data showed.  CDN PHOTO/JUNJIE MENDOZA

Government revenues from the various freight and passenger ports around the country inched up in 2012 amid higher cargo volumes and improved collection efficiency, data released last week showed.

Posted: February 18th, 2013 in Latest Business Stories | Read More »

Gov’t expenses for personal services up by 10.4%

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The government has set aside P30 billion from this year’s national budget as contingency fund for the Public-Private Partnership program. “This [P30 billion] will cover commitments made and obligations of the national government in the concession agreements for PPP projects,” Budget Secretary Florencio Abad (in photo) was quoted as saying in a report on the 2014 national budget published by Global Source. INQUIRER FILE PHOTO

MANILA, Philippines—Government expenses for personal services—including salaries and benefits for those employed by national agencies—increased by 10.4 percent to P496.1 billion in the 11 months to November 2012.   The increase was “largely due to the implementation of the last tranche of the Salary Standardization Law III, the filling up of vacant positions in the [...]

Posted: January 2nd, 2013 in Latest Business Stories | Read More »

BIR misses 9-month target by 3.5%

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BIR logo

The Bureau of Internal Revenue collected P71 billion in September, falling short of its monthly target for the third month in a row but growing at a double-digit rate from a year ago for the seventh month this year.

Posted: October 16th, 2012 in Editor's Pick,Headlines | Read More »

Biz Buzz: Banker’s big day arrives

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A big change is coming to this foreign bank this month after its big bosses overseas decided to finally put a Filipino in charge of local operations.

Posted: October 1st, 2012 in Headlines | Read More »

9 gov’t agencies in Gokongwei malls

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Gokongwei-led Robinsons Land Corp. is now hosting satellite offices of nine of the government’s busiest agencies in an enclave created within its major shopping malls to make it easier for people to apply for passport renewal, a driver’s license or conduct other tedious transactions with the government.

Posted: September 19th, 2012 in Headlines | Read More »

Gov’t targets P2.22M cut in annual power bill

Logo from doe.gov.ph

The government expects to soon reduce its annual electricity expense by an additional P2.22 million, once the Department of Energy (DoE) completes the “retrofitting” of 12 state-owned offices and universities in the Visayas.

Posted: August 27th, 2012 in Latest Business Stories | Read More »

Tax credits cost gov’t P12B in first 5 months

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Tax credits from January to May had cost the government P12 billion, lower by 13.6 percent year on year, according to the Department of Budget and Management.

Posted: July 9th, 2012 in Headlines | Read More »

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