AMLA now covers casinos

IN A bid to improve the country's legal framework against money-laundering, the senators on Thursday approved Senate Bill No. 1468, which would expand the coverage of the existing Anti-Money Laundering Act (AMLA) to include casinos

Long known to be the playgrounds of moneyed but suspicious personalities the measure has effectively canceled casinos as among the top haunts for money launderers.

The measure seeks to put more teeth into the existing AMLA by including the casino industry under the coverage of the law, according to Sen. Francis Escudero, chair of the Senate Committee on Banks, Financial Institutions and Currencies.

The Anti-Money…

Read more: AMLA now covers casinos

Congress mulls over mining reparations for IPs

HOW much should mining companies pay to indigenous peoples (IPs) affected by their operations?

This is just one of the many questions that the House of Representatives hopes to resolve through a technical working committee seeking to consolidate bills to protect the rights of IPs affected by mining operations in ancestral domains.

The TWG, created by the House Committee on Indigenous Cultural Communities and Indigenous Peoples, plans to consolidate two House bills amending certain provisions of Republic Act No. 7942 (Philippine Mining Act of 1995) pertaining to payments for IPs.

House Bill 391, authored by party-list representative Jose Panganiban Jr.,…

Read more: Congress mulls over mining reparations for IPs

No new taxes this year

EVEN if both chambers would approve this year the Comprehensive Tax Reform Program, this would not be adopted immediately but by next year or after the law first takes effect.

This point was raised by assistant majority leader Congressman Salvador Belaro Jr., of 1-Ang Edukasyon Partylist, even as he said that the Supreme Court has made it very clear in a recent decision that the new tax rates or exemptions shall apply for the whole year and starting the year the law becomes effective.

Therefore, he said, when Congress and President Duterte make the new tax rates happen this…

Read more: No new taxes this year

Govt to spend 5.3% of GDP on infra projects

DEPARTING from the traditional 3 percent of GDP (gross domestic product) for infrastructure spending, the Duterte administration is allocating in 2017 5.3 percent of GDP to this vital component of progress.

The move will ensure that the country would jumpstart to an “upper middle income status by 2022” as it strives for inclusive growth from development to adaption stages of these vital infrastructure programs.

This was spelled out by Socioeconomic Planning Secretary Ernesto Pernia during his keynote address to the Infrastructure Summit 2017, which was attended by top honchos of property, telecom, public utility companies of the country.

Pernia…

Read more: Govt to spend 5.3% of GDP on infra projects

What the F____

Yes, Ford is in the news and for the wrong reasons.  Ford Motor Company did not take any government funds to bail them out during the Great Financial Crisis.  

They sold off assets like The Volvo Group and the rest of their Mazda holdings.  

Then they removed their Mercury models and focused their Lincoln lineupfor direct competition against the Cadillac brand.  

These elements of plush and speed actually rubbed off on their 4x4 line up too.  

Targeting the high margin markets, they proceeded to sell the F series and SUV’s at a rocket rate of climb.…

Read more: What the F____

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