Amidst calls on the reduction of the 12 percent value added tax (VAT)by the different to alleviate the effect of continuing oil prices, Malacañang remained firm on its stand that the VAT will stay. Transportation Secretary Mar Roxas said during a recent visit to Zamboanga that the Aquino administration has no plans of supporting to [...]

The Diskwento Caravan (Discount Caravan) will soon roll out to areas outside Metro Manila to bring cheaper goods to more Filipino consumers.
Department of Trade and Industry (DTI) secretary Gregory L. Domingo said, “We also want consumers in various regions to experience the reduced prices of goods sold at the caravan which Metro Manila residents were [...]

Chery Automobile Ltd. announced it will build a manufacturing facility in the Philippines which will be the company’s left hand drive manufacturing hub in the Southeast Asia. Chery Philippines sales marketing manager Raymond Tribdino said the manufacturing facility will be constructed in the next three years. He said, aside from serving the local market, the [...]

Pancake House Inc. reported a net income of P73.66 million for 2010, a figure which more than doubled the P35.56 million it posted in 2009. The Lorenzo-owned casual dining restaurant chain attributed the growth to its outlet consolidation and realignment of resources to profit-generating activities.
The company also owns and operates various other restaurant brands, aside [...]

President Benigno “Noynoy” Aquino III yesterday said he wants oil companies to open their books to public scrutiny to prove that they were not taking advantage of the public in their series of oil price increases.
“That was my position ever since I have been in public service, isn’t it? If reasonable, why can’t they show [...]

In response to the steady rising of oil prices, the Aquino government is planning to resort to “extreme legal measure” by issuing an executive order that would ban further oil price increases. The same has been done during the Arroyo administration when Executive Order was in issued in 2009 to freeze oil prices.
Department of Justice [...]

Another addition to the Lenten sacrifice of Filipinos for the Holy Week: The prices of liquefied petroleum gas (LPG) have gone up by P1/kilo or P11 per 11-kg tank on Holy Wednesday. The price increase was implemented after some fuel firms raised prices of their products.
According to the LPG Marketers’ Association (LPGMA), the increase was [...]

The House of Representatives approved last week on third and final reading a bill requiring all hospitals and clinics to post price list of all their series, incidental expenses and medical supplies in a conspicuous place in their premises to ensure accessible, transparent, and reliable delivery of services.
House Bill 4308 author Pasig Representative Roman Romulo [...]

While drivers are still waiting for the issuance of their “smartcard” which would allow them to avail of fuel subsidy, the Department of Energy announced that motorists should again brace themselves for another possible round of petroleum price increase next week. The increase was said to be brought about by the cost of the crude [...]

The Philippine Long Distance Telephone Co. (PLDT downplayed fears that its takeover of rival Digitel Telecommunications Philippines Inc. would hinder competition in the local telecommunications industry. The telecom giant in fact said that the PLDT-Digitel merger would even be beneficial to the industry and would bring in better services and more competitive prices for consumers.
PLDT’s [...]

Splash Corporation reported its profit up to 500 percent to P144 million in 2010 from P23.74 million in 2009. The leading personal care manufacturer reported to the Philippine Stock Exchange that its big financial figures last year can be attributed to its strong performance across all its business segments – domestic, international and direct selling.
Splash [...]

Local oil companies raised their prices anew, even before the fuel subsidy for public utility jeepneys (PUJs) and tricycles could even be implemented. The prices for gasoline and diesel were increased by P1.50 to P1.75 a liter and kerosene by P1.40 a liter.
The first to implement the latest price increase were Pilipinas Shell Petroleum Corp., [...]

Stradcom Corp., the exclusive IT service provider for the Land Transportation Office (LTO) warns of a possible shutdown of the database and computer system it operates for the agency if the LTO continues to refuse remitting payments to the private firm. Stradcom provide and maintains LTO’s information technology facilities, including its database and licensing functions.
The [...]

The smartcards would be released to public utility jeepneys (PUJs) and tricycle operators on May 1 or May 2, according to presidential spokesman Edwin Lacierda. The implementing rules and regulations were finalized and issued last week.
Lacierda said that Malacañang also warned public transport groups of stiff sanction if they jeopardize the public welfare with crippling [...]

Multinational firm Johnson & Johnson was fined by the United States authorities $70 million on for bribing doctors in Europe and paying kickbacks for contracts under a United Nations (UN) relief program in Iraq.
According to the US Department of Justice and Securities and Exchange Commission, the cosmetics and drug giant has paid doctors and hospitals [...]

In its effort to alleviate the plight of Filipino families who have love ones working abroad, Globe Telecom announced that it will continue to provide more affordable rates for international services.
Head of Overseas Filipino Communities and Alliances, Consumer Marketing of Globe Telecom Richie Sison said “In these times of uncertainties in other parts of the [...]

The Land Transportation Franchising and Regulatory Board (LTFRB) granted a P1 provisional fare increase for Metro Manila buses. The resolution was signed last Friday approving the fare adjustment for the first five kilometers. There will be no provisional increase on the succeeding kilometers though.
The increased fare would be P10 for the first five kilometers and [...]

“Maharlika Board” or a separate trading board for the Philippines companies that comply with high governance standards is being planned by the Philippine Stock Exchange (PSE). If plans push through, the “Maharlika Board,” which will be the first of its kind in Asia, will start on September this year. It is part of the government’s [...]

SkyCable allotted P1.5 billion funds for its capital expenditure for 2011 for its Cable Television (CATV) business. Half of the said amount will be used for the roll-out of its digital TV service nationwide and the other half for boosting its broadband subscriber growth, according to company marketing head Rodrigo Montinola.
A subsidiary of network giant [...]

As some small players reduced their prices of gasoline by P1 a liter last Monday, the big 3 oil firms in the country raised their diesel. Chevron Philippines, Pilipinas Shell Petroleum Corp., and Petron Corp. raised their by P0.60 per liter their diesel prices as of 6:00 a.m. on Tuesday.
However, just like their small players [...]