The Bureau of Immigration (BI) announced that as an added incentive, foreign investors visiting the Freeport zones in the country – Clark, Pampanga and Subic, Zambalez, can avail of the government’s “visa-free” program.
An agreement was signed recently by BI Commissioner Marcelino Libanan with Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza and Clark Development Corp. [...]

At the Diosdado Macapagal International Airport (DMIA), the construction of the P308-million expansion of the existing terminal is in full blast and it is expected to be operation next month. According to Victor Jose Luciano, president and chief executive officer of Clark International Airport Corp. (CIAC), the newly expanded Terminal 1 will feature two passenger [...]

The Department of Foreign Affairs (DFA) will be transferring at the new state-of-the-art consular buildings at Aseana Business Park on Macapagal Avenue in Pasay City starting on March 4. It will first transfer the authentication services on the said date, while all other passport operations will be there too starting March 8.
Applicants for Philippine passports [...]

During the Marcos-era, the Home Development Mutual Fund (HDMF), also known Pag-IBIG Fund run a house-and-lot raffle program called the Biglang Bonds. Now, the state-administered funds manager is planning to revive the said scheme after launching its planned P12-billion bond offering last week.
HDMF chief executive officer Jaime Fabiaña said that under the plan, the agency [...]

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

The Bureau of Internal Revenue (BIR) is targeting to reach P360 billion for its collection this year from the country’s large taxpayers. The figure which is higher that the P339 billion collected last year, represents roughly 60 percent of the agency’s full-year target of P830 billion, said BIR Assistant Commissioner Nesto

The Philippine National Oil Co. (PNOC) was able to bag an exploration contract to develop the Mt. Isarog volcanic chain in Camarines Sur.  The PNOC’s $60-million Mt. Isarog geothermal project is estimated to generate 18 gigawatt-hours of electricity per year from its potential capacity of at least 20 megawatts.  It will be started in the [...]

The Home Development Mutual Fund (HDMF), more popularly recognized as he Pag-IBIG Fund launched a bond offering which will be auctioned to the public on March 9. The state-administered fund manager will be offering P12 billion bonds starting next month.
Jaime Fabiaña, chief executive officer of HDMF said that the proceeds of the funds would be [...]

The Subic Bay Freeport is fast becoming the country’s center of meetings, incentives, conventions and exhibitions (MICE).  This was noted by Department of Tourism Secretary Ace Durano during the opening of the MICECON 2010 held recently.
“Subic opens up a new world for MICE since it offers a very wide array of both man-made and natural [...]

The Senate Bill 3404 or the Philippine Immigration Act of 2010 has provision that raised concern to some business sectors. Section 30 of the said act grants Immigration Officers the power to assign personnel to do overtime work at rates fixed by him when the services rendered is to be paid for by the shipping [...]

Bibingkinitan! has embarked on an aggressive campaign to expand its number of outlets this year. The fast-rising Filipino food chain is aiming to open up about 100 new outlets all over the country, to bring its total number of stores to at least 250 by the end of 2010.
Richard V. Sanz, president and chief executive [...]

Many fears the disadvantages that it could bring, such as affecting the trade of vegetable dealers in the town and that it will worsen Benguet’s traffic problem. But Mayor Artemio Galwan is adamant on the plan of building a P268-million commercial complex in the public market area.
“The trend is now to erect malls, it’s a [...]

The Government Service Insurance System (GSIS) has entered into a conditional sale agreement with the Hong Kong-based First Pacific Company (FPC), which is represented by its local affiliate Two Rivers Pacific Holdings Corporation. The deal will see First Pacific buying approximately 5.9 percent interests of GSIS in Philex Mining Corporation for P6.02 billion.

On February 8 and 9, the biggest BPO event will be held at the SMX Convention Center in Pasay City. The 10th e-Services Global Sourcing Conference and Exhibition, which the largest ICT/BPO event in the country, is expected to bring in 120 exhibitors and 1,440 trade buyers.
This year’s event will be aiming to surpass the [...]

Minority Leader Aquilino Q. Pimentel, Jr. filed Senate Bill 3966 which is aimed in amending the Insurance Code in the Philippines. Pimentel believe that insurance firms should be compulsorily required to indemnify owner of motor vehicles that have been damaged or destroyed by floods, landslides, earthquakes, and other natural disasters.

A posthumous presidential citation was given by President Gloria Macapagal-Arroyo to the late Press Secretary Cerge Remonde for the latter’s exemplary public service as government official and noted journalist.
Remonde, who was 51 years old, died of heart attack on Tuesday morning in his house in Makati City. He was found unconscious by aides at home [...]

SM Prime Holdings Inc. (SMPHI), member of the SM group companies, the largest mall chain in the country today, will soon be building the biggest shopping mall in the Visayas and Mindanao. In three years’ time, the P2-billion land deal between SMPHI and the city of Cebu is expected to be finished.

The Government Service Insurance System (GSIS) reminded the all government offices of the requirements for those who wants to avail of early retirement to ensure the delivery of their benefits, the first one of those requirements being that the availment should be submitted at 60 days prior to their preferred retirement date.

An increase of P1 per liter on its pump prices has been implemented by Flying V, as an effect of the increase in the world oil prices. The company based its decision on the price of Dubai crude, which is the benchmark of oil refiners.
The said commodity has gone up to $80 per barrel as [...]

The bill which grants a one-time condonation of penalties on unremitted or delinquent Social Security System (SSS) contribution by employees has been signed by President Arroyo into a law. The Republic Act 9903 or the Social Security Condonation Law of 2009 allows erring employers to remit their employees’ delinquent payments for contributions without paying penalties.
Per [...]