Antiquated corporation law finally updated

 

 

By Rose de la Cruz

 

The 30-year old Corporation Code of the Philippines is finally undergoing changes to keep them current and make the Philippine business competitive in the face of future challenges.

 

Rep. Henry Ong, 2nd district of Leyte and chair of the committee on banks and financial intermediaries said

"the amendments to the Corporation Code are historic."

 

President Rodrigo Duterte signed the law providing for the Revised Corporation Code of the Philippines.

 

"Current and emerging legal and business concepts and application of technology in the conduct of business, previously unheard of when the original Code…

Read more: Antiquated corporation law finally updated

PCC Capacity Building Project gets green light

 

 

By Rose de la Cruz

 

The P1.322- billion capacity- building program of the Philippine Competition Commission was approved by the Investment Coordination Committee-Cabinet Committee (ICC-CabCom) last Thursday to institutionalize the government’s capacity to enforce the Philippine Competition law and promote free and fair competition in the economy.

 

The project, set to be implemented by the third quarter this year, will be funded by an Asian Development Bank loan dubbed as “Capacity Building to Foster Competition Project.”

 

The PCC project has a total project cost of P1.322 billion, of which P1.217 billion will be…

Read more: PCC Capacity Building Project gets green light

    BSP, IMF HOLD THE 1st REGIONAL DIALOGUE ON FINANCIAL STABILITY

 


 

            The Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) co-hosted the inaugural Regional Dialogue on Financial Stability (FS) for ASEAN Central Banks on January 21-22, 2019 at the Philippine International Convention Center, with the theme, “Ensuring Financial Stability in the Region: Some Policy and Practical Issues.”

 

Structured as a “regional dialogue,” the event brought together governors and other high-level officials from ASEAN member states. Also participating were experts from the IMF, the World Bank, the Bank for International Settlements, and the South East Asian Central Banks Research and Training Centre as well as…

Read more: BSP, IMF HOLD THE 1st REGIONAL DIALOGUE ON FINANCIAL STABILITY

BSP warns against improper handling of Philippine money

 

 

By Rose de la Cruz

 

Any willful defacement, mutilation, tearing, burning or destruction of Philippine bank notes and coins are punishable by a fine of P20,000 and/or imprisonment of five years, under Presidential Decree No. 247.

 

Thus the Bangko Sentral ng Pilipinas that any improper handling of Philippine currency will be dealt with harshly.

 

The BSP said that Philippine “banknotes and coins are issued for circulation as medium of exchange and to utilize them for other purposes does not speak well of the due respect and dignity befitting our currency.” 

Among the prohibited acts…

Read more: BSP warns against improper handling of Philippine money

Draft substitute bill raises ERC board from 5 to 7

 

 

By Rose de la Cruz

 

A draft substitute bill in the House sees to reorganize the energy sector and increase the number of commissioners of the Energy Regulatory Commission from 5 to 7 to address the backlogs in cases pending before ERC.

 

Rep. Carlos Roman Uybarreta of 1st Consumers Alliance for Rural Energy Inc. partylist, said the draft substitute bill, by increasing the number of ERC commissioners to seven will improve ERC’s capacity to address the huge ERC workload and backlog of cases and pending petitions.

 

“Our TWG (technical working group) work is done. We are ready to…

Read more: Draft substitute bill raises ERC board from 5 to 7

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