Friday, 22 September 2017
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Senate Panel approves PCOO 2018 Budget

MANILA - A Senate panel on Wednesday approved the proposed 2018 budget of the Presidential Communications Operations Office (PCOO) and its attached agencies worth PHP1.351 billion - a PHP 22.337-million decrease from 2017 budget.

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Enforcement Action against Company conducting Illegal Deposit Taking

A joint raid was conducted on MGSB Berhad led by Bank Negara Malaysia together with the National Revenue Recovery Enforcement Team of the Attorney-General’s Chamber (NRRET), Royal Malaysian Police (RMP) and Companies Commission of Malaysia (SSM) on 15 September 2017. MGSB Berhad was raided for suspected offence under the Financial Services Ac ...
Date: 20 September 2017; Type: Legal News; Source: Bank Negara

House restores Budget of CHR, ERC, NCIP

MANILA - The House of Representatives has decided to restore the proposed 2018 budgets of the Commission on Human Rights (CHR), Energy Regulatory Commission, and National Commission on Indigenous Peoples (NCIP).
Date: 20 September 2017; Type: Legal News; Source: Philippine News Agency

IBP urges Senate to restore CHR 2018 Budget

MANILA - The Integrated Bar of the Philippines (IBP) on Tuesday urged the Senate to provide a workable budget for the Commission on Human Rights (CHR) for 2018.
Date: 19 September 2017; Type: Legal News; Source: Philippine News Agency

Senate okays Fiscal and Monetary Report Act of 2017

MANILA - The Senate on Monday approved on third and final reading the Fiscal and Monetary Report Act of 2017, a bill which seeks to require economic managers to appear biannually before a joint congressional oversight panel.
Date: 19 September 2017; Type: Legal News; Source: Philippine News Agency

Solon wants to create Classification System for Third Parties in BOC

MANILA - A lawmaker in the House of Representatives has filed a measure providing for a classification system for third parties under the Customs Modernization and Tariff Act (CMTA).
Date: 19 September 2017; Type: Legal News; Source: Philippine News Agency

BNM to provide Guidelines on Cryptocurrency by Year-end

KUALA LUMPUR, Sept 19 (Bernama) - Bank Negara Malaysia (BNM) is planning to issue guidelines on cryptocurrency by year-end, said Governor, Tan Sri Muhammad Ibrahim. He said cryptocurrency, or digital currency, had attracted a lot of attention from central banks around the globe. "We hope that by year-end, BNM will be able to come out with ...
Date: 19 September 2017; Type: Legal News; Source: Bernama

Senate Oks Biannual Appearance to report on Fiscal, Monetary Policies to Congress

The Senate today passed on third and final reading a bill which would require the country's economic managers to appear biannually before a joint congressional oversight committee, to report on the status and direction of the country's fiscal and monetary policies.
Date: 18 September 2017; Type: Legal News; Source: Senate of The Philippines

No Need for CHR Funds to buy Bodycams - Recto

There are enough sources in the 2017 national budget which could fund the immediate purchase of police body cameras, Senate President Pro Tempore Ralph Recto said.
Date: 18 September 2017; Type: Legal News; Source: Senate of The Philippines

Legarda eyes Early Passage of 2018 GAA

Senator Loren Legarda, Chair of the Senate Committee on Finance, today said she is optimistic about the early passage of the 2018 national budget, stressing that the Senate has been conducting marathon hearings to finish discussions of all government agencies' budgets on time.
Date: 19 September 2017; Type: Legal News; Source: Senate of The Philippines

Government to take Legal Measures against Loan Sharks

SUPANBURI, 18 September 2017 (NNT) - The government will take legal action against loan sharks who may have failed to conform to a formal lending system, while debtors were encouraged to register for the government's refinancing project, said Deputy Finance Minister Wisudhi Srisuphan.
Date: 18 September 2017; Type: Legal News; Source: National News Bureau of Thailand

House bans Gift Certificates with Expiry Date

The House of Representatives this week unanimously approved on third and final reading House Bill 6016 that seeks to regulate the issuance, use and redemption of gift checks, gift cards and gift certificates.
Date: 16 September 2017; Type: Legal News; Source: House of Representatives

Regulatory Roadmap needed for Banking Sector Reform

Myanmar needs to establish a regulatory roadmap for the banking sector. This will give the local banks more clarity on the progress and timing of upcoming regulations, allowing them to gear up for further reform and growth.
Date: 13 September 2017; Type: Legal News; Source: Myanmar Times

PAC wants Detailed Budget Proposals on Time

The Public Accounts Committee has submitted a proposal to the Yangon Parliament to compel the regional government to submit detailed estimate and drawing of plans and projects in time in order to reduce cost.
Date: 13 September 2017; Type: Legal News; Source: Myanmar Times

Businessman fined RM350,000 for lending RM10,000 without Permit

MELAKA, Sept 13 (Bernama) - A businessman was fined RM350,000, in default 30 months' jail, by the Sessions Court here today after he was found guilty of engaging in illegal money lending business.
Date: 13 September 2017; Type: Legal News; Source: Bernama

New Service Fee Regulation to boost SME, Selected Sectors

A newly-approved Presidential Decree on Service Fees is set to give a significant boost to Small and Medium Enterprises (SME) and other promoted sectors, the government spokesman has said.

License issuance for new Financial Institutions suspended more

Enforcement Action against Company conducting Illegal Deposit Taking

A joint raid was conducted on MGSB Berhad led by Bank Negara Malaysia together with the National Revenue Recovery Enforcement Team of the Attorney-General’s Chamber (NRRET), Royal Malaysian Police (RMP) and Compani ...

BNM to provide Guidelines on Cryptocurrency by Year-end Businessman fined RM350,000 for lending RM10,000 without Permit Budget 2018 to address Cost of Living, Housing Issues - Najib more

Regulatory Roadmap needed for Banking Sector Reform

Myanmar needs to establish a regulatory roadmap for the banking sector. This will give the local banks more clarity on the progress and timing of upcoming regulations, allowing them to gear up for further reform and grow ...

PAC wants Detailed Budget Proposals on Time New Rule permits Sale of Thai Baht at Local Forex Counters Shares of 55 Companies can soon be traded Locally more

Senate Panel approves PCOO 2018 Budget

MANILA - A Senate panel on Wednesday approved the proposed 2018 budget of the Presidential Communications Operations Office (PCOO) and its attached agencies worth PHP1.351 billion - a PHP 22.337-million decrease from 201 ...

House restores Budget of CHR, ERC, NCIP IBP urges Senate to restore CHR 2018 Budget Senate okays Fiscal and Monetary Report Act of 2017 more

Government to take Legal Measures against Loan Sharks

SUPANBURI, 18 September 2017 (NNT) - The government will take legal action against loan sharks who may have failed to conform to a formal lending system, while debtors were encouraged to register for the government's ref ...

Commerce Ministry plans to cut Logistic Costs to 12% of GDP NLA Members to deliberate Draft Amendment of Public Debt Management Act on September 14 NLA welcomes Public Opinions on Draft Fintech Act more

Industry Updates

ASEAN, Dialogue Partners hope for End of Marawi Conflict Soon

MANILA - The ASEAN member states and its dialogue partners are hoping that the more than three-month fighting in Marawi be resolved soon.

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ASEAN Public Relations strengthen Regional Structure

Badung, Bali (ANTARA News) - Public relations and communication are keys to obtain public understanding and participation in order to strengthen the regional organization's position at the global level, Director General of Public Information and Communication at the Ministry of Communications and Information Technology, Rosarita Niken Widiastuti, stated here on Wednesday.

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OSMEP recognizes Hundreds of SMEs for Outstanding Work

BANGKOK, 21 September 2017 (NNT) - The Office of Small and Medium Enterprise Promotion (OSMEP) has held a ceremony to offer accolades to SME operators from across the country who have been successful in business.

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Labor Minister orders Investigation into Complication of employing Highland People

BANGKOK, 21 September 2017 (NNT) - The Minister of Labor has instructed Labor Ministry officials to investigate into the claim that employers do not receive convenience on submitting work permit application for highland people.

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ASEAN Lawmakers commend Alvarez

The 38th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA) concluded Tuesday with delegates commending House Speaker Pantaleon Alvarez for his outstanding performance as president of AIPA.

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Work in all Courts Nationwide suspended Thursday: SC

MANILA - The Supreme Court (SC) announced the suspension of work in all courts nationwide on Thursday, September 21, in connection with President Rodrigo Duterte's declaration of the said date as National Day of Protest.

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Budget 2018: 13,837 Ideas, Proposals from the Public received

KUALA LUMPUR, Sept 20 (Bernama) - Datuk Seri Najib Tun Razak said today that 13,837 ideas and proposals were received through the Budget 2018 'crowdsourcing' campaign carried out for 15 days from Sept 4 to 18.

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Malaysia-Thailand to ink MoU on Security Cooperation

BANGKOK, Sept 20 (Bernama) - There will be closer security cooperation between Malaysia and Thailand with the establishment of a Joint Committee on Security Cooperation, according to a cabinet resolution document released by the Thai government.

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MAS sets up International Advisory Panel for Cyber Security

Singapore, 20 September 2017 - The Monetary Authority of Singapore (MAS) announced today that it has established a Cyber Security Advisory Panel (CSAP), comprising cyber security thought leaders from around the world.

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SC asked to order Refund of Excess SMS Fee to Subscribers

MANILA - The Bayan Muna partylist filed a petition before the Supreme Court (SC) seeking to compel the country's major telecommunication companies to give a refund to their subscribers for overpriced text message rates amounting to more than PHP17.7 billion.

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Policymakers urged to study Proposed Shift to Federal System

MANILA - State think-tank Philippine Institute for Development Studies (PIDS) on Tuesday urged policymakers to undertake a comprehensive study of the proposed shift to a federal form of government which could address uneven developments in provinces and regions.

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BSP to continue Payment, Settlement Operations on September 21

MANILA - The Bangko Sentral ng Pilipinas (BSP ) will continue its payments and settlement operations on Thursday despite Malacanang's suspension of works in government offices and schools nationwide for that day.

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