The Bureau of Customs Port of Cagayan de Oro destroyed illicit cigarettes worth P30 million on Sept. 8. -- COURTESY OF BUREAU OF CUSTOMSTHE DEPARTMENT of Finance (DoF) estimates that illicit cigarettes may account for up to 10% of the market amid an increase in smuggling and illegal manufacturing as excise taxes rose. "As the tax on cigarettes increases, there ...
REUTERS TOKYO -- Asia's factory activity stepped up a gear in October as emerging economies saw coronavirus disease 2019 (COVID-19) infections subside, but rising input costs, material shortages and slowing Chinese growth cloud the outlook, business surveys showed on Monday. Policy makers in the region face pressures on multiple fronts as they steer their economies out of the pandemic-induced doldrums ...
INVESTMENT funds focused on the environmental, social, and governance (ESG) metrics of businesses can help promote sustainability and climate change action. "With the large growth in funds focused on sustainability and ESG metrics, we think companies are increasingly incentivized financially to invest in sustainability-related or climate change opportunities," Craig Cameron, portfolio manager at the Templeton Global Equity Group, said in ...
COCA-COLA Philippines plans to ramp up the use of recycled plastic in its products and exit the sachet industry by next year, according to an executive. "We will be accelerating the use of more recycled plastic in our bottles - also known as rPET bottles - for some of our brands by 2022," Coca-Cola Philippines President Antonio "Tony" V. Del ...
BW FILE PHOTO LENDING is expected to see subdued growth this year as banks remain risk averse amid the coronavirus disease 2019 (COVID-19) crisis, according to S&P Global Ratings. "We see some early signs of revival in credit growth in the last few months supported by gradual economic recovery. For 2021, the banking sector's loan portfolio is likely to grow ...
THE Microfinance NGO Regulatory Council (MNRC) is looking to revise its guidelines for the accreditation of microfinance nongovernment organizations (MF-NGO) for 2022 to 2025. "In view of the impending expiration of [MNRC] Certificates of Accreditation issued in March 2019, the council has been hard at work in revising the MNRC accreditation requirements of microfinance NGOs, along with parameters to assess ...
FILMS convey stories and information that can change a person's perspective and attitude towards various topics. While they are also entertaining, a story told through the lens of the youth can also provide a different angle. It is this focus on the youth that the Climate Change Commission (CCC), in collaboration with the Oscar M. Lopez Center, launched the Klima ...
THE CENTRAL BANK'S enforcement operations led to the confiscation of over 500 counterfeit notes valued at P480,000.THE BANGKO SENTRAL ng Pilipinas (BSP) implemented seven enforcement operations in the first nine months against currency counterfeiters. This led to the seizure of more than 500 pieces of counterfeit Philippine banknotes with a notional value of more than P480,000, it said in a ...
A LEGISLATOR called for the passage of a bill proposing to repeal a Presidential Decree that automatically allocates funds to service the national debt, saying that the government must prioritize spending on social services. Bayan Muna Rep. Ferdinand R. Gaite called on Malacanang and Congress to back House Bill 4087, or the Repeal the Automatic Appropriation for Debt Service Bill, ...
PHILSTAR THE Inter-Agency Energy Efficiency and Conservation Committee (IAEECC) said it will require government agencies to install upgraded cooling systems that are in compliance with the prevailing MEPP standard. "All government entities shall ensure that only energy-efficient inverter type air-conditioning units that are compliant with the Minimum Energy Performance for Products (MEPP) shall be installed or used in their buildings, ...