Wednesday, 20 September 2017
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Industry Updates - The Philippines

Senate urged to view Ethics Complaints with Caution

MANILA - Senate Minority Leader Franklin Drilon on Monday urged his colleagues to view complaints filed before the Senate Ethics Committee with extreme caution as the number of complaints continue to pile up.

Peace, Security and Stability take Center Stage in AIPA discussion

MANILA, Philippines - Lawmakers and delegates at the 38th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA) on Saturday discussed intensively the issues and challenges confronting the ASEAN region and the international community.

CDPI proposes Shift to Federal Parliamentary System

The Centrist Democracy Political Institute (CDPI) on Thursday, September 14, said it is proposing the shift to a federal parliamentary system, adding that Congress should soon start deliberating the amendments in the 1987 Constitution that will pave the way for federalization.

PH strengthens Bilateral Ties with Malaysia

PASAY CITY - At the sidelines of the Philippine (PH) hosting of the 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings on 8 September, Department of Trade and Industry (DTI) Secretary Ramon Lopez convened a bilateral meeting with his Malaysian counterpart, Minister for International Trade and Industry Y.B. Dato’ Sri Mustapa Mohamed.

ASEAN Secretary-General highlights ASEAN Integration at UN Conference on Trade and Development

14 September 2017 Geneva, Switzerland - H.E. Mr. Le Luong Minh, Secretary-General of the Association of Southeast Asian Nations (ASEAN) served as a panelist at the High Level Dialogue of the 64th Session of Trade and Development Board of the United Nations Conference on Trade and Development on September 12.

ASEAN Lawmakers to converge for 38th AIPA General Assembly

The 38th ASEAN Inter-Parliamentary Assembly (AIPA) General Assembly officially opens on Saturday at the Makati Shangri-la Hotel, with AIPA President and House Speaker Pantaleon Alvarez and Senate President Aquilino Pimentel III to welcome the delegates, while President Rodrigo Duterte will deliver his keynote address at the closing rites on Tuesday.

DFA makes Passport Application and Renewal Easier

14 September 2017 - After releasing thousands of appointment slots to the public, the Department of Foreign Affairs is making it easier for passport applicants with further improvements in the appointment system.

Drug Menace, Terrorism, Other Regional Problems up in 38th AIPA

MANILA, Philippines - Lawmakers belonging to the Association of Southeast Asian Nations (ASEAN) will have another opportunity to discuss the drug and terrorism problems when they meet anew at the 38th ASEAN Inter-Parliamentary Assembly (AIPA) General Assembly to be held at the Makati Shangri-la Hotel from September 14 to 20, 2017.

November 17 is National Students’ Day Soon

The House of Representatives, through viva voce voting, this week approved on second reading House Bill 6283 which seeks to declare November 17 of every year as National Students’ Day in recognition of the contribution of student activism to Philippine democracy.

DOF adopting Faster Import Permit System

The Duterte administration is finalizing a new, faster system for securing import applications that currently involve more than 60 government agencies, as part of fresh measures to cut red tape and improve the ease of doing business in the country, according to Finance Secretary Carlos Dominguez III.

PH hosts First Asean Inclusive Business Summit

Aims to introduce, build IB cases in the region.

Reissuance of the Capital Adequacy Framework (Capital Components) and Capital Adequacy Framework for Islamic Banks (Capital Components)

The Bank wishes to inform that effective 4 August 2017, the Capital Adequacy Framework (Capital Components) and the Capital Adequacy Framework for Islamic Banks (Capital Components) policy document will be reissued to incorporate loss absorption mechanism via write-off for Additional Tier 1 (AT1) and Tier 2 Islamic capital instruments that are structured using equity-based Shariah contracts such as Wakalah, Musyarakah or Mudarabah.

Beverage Makers want Government to delay SSB Tax Implementation

MANILA - The Beverage Industry Association of the Philippines (BIAP) wants the government to delay the implementation of the sugar-sweetened beverage (SSB) tax to give more time for the industry to work with the government in this component of the comprehensive tax reform program.

Ozamiz Judge inhibits from Parojinog Cases

MANILA - One of the two judges of the Ozamiz City Regional Trial Court (RTC) inhibited from handling the criminal cases filed against Ozamiz City Vice Mayor Nova Princess Parojinog-Echavez and her brother Reynaldo Jr., due to her compulsory retirement this month.

CJ Sereno unfazed by Impeachment Raps

MANILA - Chief Justice Maria Lourdes Sereno on Thursday broke her silence over the impeachment complaint filed against her by the Volunteers Against Crime and Corruption (VACC) and the Vanguard of the Philippine Constitution Inc. (VPCI) before the House of Representatives, stating that she has not done anything wrong.

Tax Reform can benefit the Poor: Economist

MANILA - Poor families can benefit from the Department of Finance’s (DOF) tax reform proposal with the highly targeted cash transfers that will be distributed to the country’s poorest households, according to an economist.

298 Courts to go Hi-tech This Year: Sereno

MANILA - Close to 300 courts nationwide will have the eCourt system in place this year, Supreme Court Chief Justice Ma. Lourdes Sereno said.

DepEd further improves Provident Fund Guidelines

PASIG CITY, August 22, 2017 - Committed to provide continuous efforts that will benefit both the teaching and non-teaching personnel, the Department of Education (DepEd) ensures that steps are underway to further improve the guidelines of the DepEd Provident Fund (PF).

Rules and Regulations on the Implementation of SEC Oversight Assurance Review Inspection Program

SEC Memorandum Circular No. 9; Series of 2017 - In line with the declared State policy under the Securities Regulation Code (SRC) to protect investors and ensure full and fair disclosures about securities and in adherence to International Organization of Securities Commissions principles on securities regulation, the SEC, pursuant to the powers and functions vested in it under Section 5 of the SRC and its authority to make, amend, and rescind such accounting rules and regulations as may be necessary to carry out the provisions of the SRC as provided for under Section 68 thereof, hereby issues these Rules and Regulations on the implementation of the SEC Oversight Assurance Review (SOAR) Inspection Program.

Industry Updates

Indonesia, Croatia agree to strengthen Economic Cooperation

Jakarta (ANTARA News) - Indonesia and Croatia have agreed to enhance economic cooperation, the Indonesian Foreign Ministry said in a press statement released on Tuesday.

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Indonesia, Namibia agree to enhance Bilateral Trade Cooperation

Jakarta (ANTARA News) - Indonesias Foreign Affairs Minister Retno L. P. Marsudi has held a bilateral meeting with her Namibian counterpart Netumbo Nandi-Ndiatwah, and the two ministers agreed to intensify cooperation to boost bilateral trade.

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High Taxes, Competition choke Cheroot-Makers

Myanmar's traditional mini cigar, the cheroot, is near extinction as manufacturers struggle with high taxes, high production costs and stiff competition from imported and local cigarettes.

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EPF to boost Investments in Shariah-Compliant Private Equity Funds

KUALA LUMPUR, Sept 19 (Bernama) - The Employees Provident Fund (EPF) is prepared to increase its investments in shariah-compliant private equity (PE) funds, said its Investment Deputy Chief Executive Officer, Datuk Mohamad Nasir Ab Latif.

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BNM seeks More Focused Delivery of Mandates under Malaysian Development Financial Institutions

KUALA LUMPUR, Sept 19 (Bernama) - Bank Negara Malaysia (BNM) is planning to work with the leadership of local financial institutions and other stakeholders in government to address a more focused delivery of mandates under the Malaysian Development Financial Institutions.

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Industry Updates

Renewal Application for Special Scheme expiring 31st March 2018 onwards

Renewal application shall be made six months prior to the expiry date and must be submitted two months before the expiry date​.

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Singapore and China Mediation Centres work together to help Businesses resolve Disputes along Belt and Road

1. The Singapore International Mediation Centre (SIMC) and the Mediation Center of the China Council for the Promotion of International Trade / China Chamber of International Commerce (CCPIT/CCOIC Mediation Center) will work together to support businesses and help them resolve disputes that may arise in cross-border commercial transactions under China’s Belt and Road Initiative (BRI). The two mediation centres signed a Memorandum of Understanding (MOU) today at the International Mediation Summit held in Hangzhou, China.

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Senate urged to view Ethics Complaints with Caution

MANILA - Senate Minority Leader Franklin Drilon on Monday urged his colleagues to view complaints filed before the Senate Ethics Committee with extreme caution as the number of complaints continue to pile up.

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Government reveals Aims of Mobile Cabinet Meeting

SUPHAN BURI, 18 September 2017 (NNT) - The Prime Minister has led his Cabinet on a retreat in the central region, aiming to foster development and connectivity between the country’s two oceans.

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MTUC urges Local Authorities to take Stern Action against Illegal Premises

BUTTERWORTH, Sept 18 (Bernama) - The Malaysian Trades Union Congress (MTUC) has called on local authorities to take strict legal action against illegal buildings or premises, particularly educational institutions.

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ASEAN enhances Coordination to tackle Cyber Threats

SINGAPORE, Sept 18 (Bernama) - ASEAN member states have agreed on the importance of enhancing coordination to ensure that its cybersecurity efforts across various platforms in countering increasingly sophisticated cyber threats are focused, effective and in synergy with one another.

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Industry Updates

Peace, Security and Stability take Center Stage in AIPA discussion

MANILA, Philippines - Lawmakers and delegates at the 38th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA) on Saturday discussed intensively the issues and challenges confronting the ASEAN region and the international community.

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