Tag: Economic Stability
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Philippines Boosts ITBPM Sector with CREATE MORE Act Implementation
The recent signing of the implementing rules and regulations (IRR) for the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act is set to enhance the stability, cost-efficiency, and attractiveness of the Philippines as a hub for information technology and business process management (ITBPM). The IT and…
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President Marcos Jr. Advocates for Unified Strategy to Control Food Prices
President Ferdinand R. Marcos Jr. has called for a cohesive strategy to manage food prices, following a meeting with the Department of Agriculture (DA) at Malacañan Palace in Manila. The President highlighted the necessity of a unified approach during discussions on the Anti-Agricultural Economic Sabotage Act, aimed at reducing smuggling and stabilizing market prices. Marcos…
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President Marcos Jr. Approves Tax Relief for Power Producers Under BOT Agreements
President Ferdinand R. Marcos Jr. has signed Executive Order 83, granting significant tax relief to Independent Power Producers (IPPs) involved in Build-Operate-Transfer (BOT) agreements with government entities. The order, signed on February 13, aims to alleviate the financial burden on IPPs by reducing and forgiving real property taxes (RPT) and associated penalties on their power…
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Philippine Customs Seizes P85.1 Billion in Smuggled Goods in 2024
In a significant crackdown on smuggling, the Bureau of Customs (BOC) in the Philippines announced the seizure of smuggled goods valued at over PHP85 billion throughout 2024. The announcement was made by Commissioner Bienvenido Rubio, who detailed that the haul was the result of over 2,100 operations conducted last year. The confiscated items included a…
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Mati City Grapples with Economic Challenges Due to Davao Oriental’s Budget Standoff
In Davao City, Mati City Mayor Michelle Rabat has expressed deep concerns about the ongoing budget deadlock in the Davao Oriental provincial government, which she claims is severely impacting the local economy. During her weekly radio show, Magtanong Kay MNR, Rabat highlighted that the provincial budget, which has been reenacted, has resulted in around PHP120…
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Senators Highlight Importance of Checks and Balances in 2025 Budget Delay
MANILA – The delay in finalizing the 2025 General Appropriations Act (GAA) has been praised by senators as a demonstration of the robust system of checks and balances within the legislative framework. Senate President Francis Escudero explained that the delay is a reflection of the Executive Branch’s constitutional rights to thoroughly review and potentially veto…
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2025 Budget Delay Highlights Robust Democratic Process, Say Senators
In a statement from the Senate Session Hall, senators highlighted the significance of the delay in signing the 2025 General Appropriations Act (GAA), viewing it as a testament to the strength of democratic checks and balances. Senate President Francis Escudero explained that the delay is a normal part of the legislative process, allowing the Executive…
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PUV Drivers in Northern Mindanao Prioritized for Vocational Training
In Cagayan de Oro City, public utility vehicle (PUV) drivers are at the forefront of a new initiative by the Technical Education and Skills Development Authority (TESDA). This initiative, part of the broader PUV Modernization Program, aims to enhance the skills of drivers through technical and vocational training. Miraflor Emata, the administrator of the Cagayan…
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