In the latest report from the aftermath of the magnitude 9 earthquake and tsunami that hit Japan last March 11, the Department of Foreign Affairs (DFA) said that two Filipinos were confirmed dead. However, the names of the victims, a woman and her child, was not yet released by the DFA.
In its press conference in [...]

The Premier Entertainment Philippines Inc. (PEP) just got the nod of its shareholders to diversify from its main business of online gaming and into the mining, real estate and information technology. However, the company said it remains in search of its next venture as it assesses “feelers” from potential partners in its new businesses.
Anastacio P. [...]

Senator ProTempore Jinggoy Estrada filed a motion to cite the Ligot couple in contempt for refusing to answer the senator’s queries during the Senate hearing on Monday.  This was immediately seconded by Senator Teofisto Guingona III, chairman of the Senate blue ribbon committee.
For lack of quorum, however, the committee failed to vote on the motion. [...]

The Bangko Sentral ng Pilipinas (BSP) said that despite the closure of Banco Filipino Savings and Mortgage Bank last week, the country’s banking industry remains sound and stable. BSP Governor Amando M. Tetangco Jr. said they have not monitored any negative impact on the banking industry sine Banco Filipino was ordered closed by the Monetary [...]

The Department of  Energy (DoE) said last week it is expecting gasoline to be lower this week as demand in the world market decreases when Japan was hit an earthquake and tsunami. “The downward trend began after Japan catastrophes. We saw prices going down due to the market reaction that global economy will slow down [...]

Executive Order 29 (EO 29) or the “open skies” policy was signed by President Benigno Aquino III on March 14, authorizing the Philippine air panels to offer third, fourth and fifth freedom rights to the country’s airport other than the Ninoy Aquino International Airport (NAIA) without restrictions as to frequency, capacity, type of aircraft and [...]

After taking over the operations of Banco Filipino Savings and Mortgage Bank upon the order of Bangko Sentral ng Pilipinas (BSP), the Philippine Deposit Insurance Corp. (PDIC) has already started processing payment of deposit insurance to the bank’s depositors.
First to be paid out are those whose balances do not exceed P5,000. These depositors need not [...]

A bill that is said to “increase tax collections without the enactment of new tax measure” has been approved by the House committee on ways and means.
Authored by Representative Giorgidi Aggabao and Batangas Representative Tomas Apacible, the bill is simplifying the net income taxation scheme (SNITS) that will limit the allowable business deductions from gross [...]

A military intervention in Libya seems inevitable as the United States accused Muammar Gaddafi of defying international demands for an immediate ceasefire, as France’s U.N. envoy predicted military action to take place within hours of an international meeting on Libya.
France will host a meeting on Saturday on Libya which will be attended by U.S. Secretary [...]

After ordering its closure, and putting it under the receivership of the Philippine Deposit Insurance Corporation (PDIC), the next order of business is how to give back the money to the bank’s 177,652 depositors of Banco Filipino Savings and Mortgage Bank. BSP Deputy Governor Nestor Espenilla Jr. said that from the total number of depositors, [...]

After closing its doors last Monday, “temporarily” as it claimed, Banco Filipino Savings and Mortgage Bank was shut down by the Bangko Sentral ng Pilipinas (BSP).
BSP ordered the closure of Banco Filipino yesterday for insolvency after its liabilities overwhelmed its assets by P8.4 billion, prompting monetary authorities to prepare charges against the board of directors [...]

The Canlaon Alco Green Industrial Corporation will be investing P5.192 billion for a bioethanol plant in Bago, Negros Occidental. And because of its multi-million investment in the bioethanol project, Canlaon will be receiving six years worth of income tax holiday (ITH), according to Lucita P. Reyes, executive director of the Board of Investments (BOI).
Reyes said [...]

The Negros Navigation Co., Inc. is expecting to end up with a net income of P1 billion for 2011. A complete turnaround from its previous result last year when it ended up with loss of half a billion.
Nenaco president and chief executive officer Sulficio Tagud said that this is on the back of projected consolidated [...]

The Supreme Court just released the names of those who passed the 2010 Bar exams. A total of 982 from 4,847 takers passed, or a passing percentage of 20.26 percent.
The Top 10 Bar passers:
1st Place SINGZON, Jr. Cesareo Antonio S.,  Ateneo de Manila University 89.00%
2nd Place JAVIER, Filemon Ray L.,  Ateneo de Manila University 86.95%
3rd [...]

Conglomerate Ayala Corp. is planning to sell as much as P10-billion in 10-year innovative bonds via public offering to beef up its cash position. In its disclosure to the Philippine Stock Exchange, Ayala plans to issue at least P6 billion “multiple puttable” retail bonds with an option to increase by P4 billion in case of [...]

The Bureau of Internal Revenue (BIR) exceeded its target for January 2011 collection by P2.59 billion. The revenue agency said that it collected for the month of January a total of P74.58 billion, surpassing its target of P71.97 billion, or a 3.6 percent excess of goal. Comparing its collections for the same period last year [...]

Banco Filipino Savings and Mortgage Bank branches in the country were closed yesterday after experiencing heavy withdrawals from its depositors worried about its financial health. The thrift bank has 62 branches in the Philippines, with a total of P17 billion worth of deposits.
Banco Filipino vice chair Perfecto Yasay assured depositors that they bank is still [...]

The Bureau of Internal Revenue (BIR) earlier issued Revenue Regulation 2-2011 requiring individuals, estates and trusts to file their Income Tax Returns (ITR) “together with the AIR (annual information returns) or BIR Form No. 1705, which shall include income subject to final withholding tax and those exclusions from gross income.”

Vista Land and Lifestyles Inc. reported that it has earmarked P45-billion for capital expenditure plans for the next three years. Vista Land chief executive officer Benjamarie Serrano said, “We are in the midst of an aggressive expansion program that will entail significant capital expenditures over the next three years and beyond.”

Broadcast media giant GMA Network Inc. has approved the declaration of P2.187 billion cash dividends, or P0.45 per share. In its disclosure to the Philippine Stock Exchange, the network giant said the record date for the cash dividend is on April 8, and the payment date is on May 5. The declaration of cash dividend [...]