Category Archives: Business

Kentex owners may face imprisonment, says Labor department

Wednesday, 20 May 2015 | Written by

The Department of Labor and Employment said owners of the slipper factory in Valenzuela may face imprisonment over various labor regulation laws and eventually led to the killing of 72 workers, the Philippine Star reported.   “If found liable for the fire that cost the lives of 72 and injuries to scores of others, Kentex and its subtractors will be…Read More »

NGC

Use old banknotes before demonetization — Bangko Sentral

Saturday, 9 May 2015 | Written by
NGC

The Bangko Sentral ng Pilipinas (BSP) urged the public to use the New Design Series (NDS) banknotes in their possession before the demonetization program on January next year. NDS banknotes can still be used until December 31, 2015 but will no longer be accepted for for monetary transactions starting 2016. NDS banknotes can be exchanged at face value, free of…Read More »

Wall in Bulacan warehouse collapses, 11 dead

Wednesday, 21 January 2015 | Written by

Eleven persons were reported dead when a wall of a constructed warehouse collapsed in barangay Ilang-ilang, Guiguinto, Bulacan on Monday. Among those who died is four-month pregnant woman and a seven-year old boy. According to a report, cement was being poured on the wall when it fell over a shelter where workers are taking a break at 3:30 p.m. Died…Read More »

Cebu Pacific slapped with P52-million fine over holiday flight delays

Thursday, 15 January 2015 | Written by

Budget carrier Cebu Pacific must pay a P52-million fine for “appalling numbers of delayed flights’ and ‘high absenteeism’ during the Christmas holiday, according to the Civil Aeronautics Board (CAB). CAB said the flight delays and cancellations affected 10,400 passengers from December 23 to 26. “It’s about time. The airline is being irresponsible and it should not happen again,” CAB director…Read More »

House okays P22.5 B supplemental budget for 2015

Wednesday, 17 December 2014 | Written by

The House of Representatives on Monday night approved the P22.467-billion supplemental budget for 2015 on third and final reading just minutes after the P2.606-trillion 2015 budget was ratified by the bicameral conference committee. The supplemental budget bill, which was certified as urgent by President Aquino, breezed through the House in a 183-12-0 vote and will be transmitted to the Senate…Read More »

Jeepney fare cut by P1

Friday, 12 December 2014 | Written by

The Land Transportation Franchising and Regulatory Board (LTFRB) said jeepney fares have been reduced from P8.50 to P7.50 due to the continuous decline of diesel prices effective today, Dec. 12. The rollback is only temporary and those who oppose it have yet to present their side in a public hearing set on Jan. 14, 2015. This is the first jeepney fare rollback…Read More »

Power rates to increase this month

Saturday, 11 October 2014 | Written by

Expect an increase in your electricity bill as Manila Electric Co. (Meralco) announced a power rate hike this October. Meralco said that households consuming 200 kWh per month will have an increase of P20 for their electricity bill. The increase was primarily due to a five-day Malampaya restriction which forced Sta. Rita and San Lorenzo power plants to use more expensive liquid fuel…Read More »

‘Cartel’ caused “shocking” spike in garlic prices – gov't report

Friday, 5 September 2014 | Written by

Instead of the perceived shortage of supply, a ‘cartel’ or certain individuals or groups connived with some government officials to control the importation of garlic and manipulate prices, thus causing the “shocking” spike in the prices of garlic in Metro Manila. A 32-page report drafted by the Office for Competition (OFC) of the Department of Justice (DOJ) found out that…Read More »

Jobless Filipinos hit 11.8M; Youth unemployment highest since 2008 – SWS

Tuesday, 19 August 2014 | Written by

The number of jobless Filipinos went up by 300,000 to 11.8 million in the second quarter from 11.5 million recorded during the first quarter of the year, according to the latest Social Weather Stations (SWS) survey. Based on the June 27-30 SWS survey published on BusinessWorld, unemployment rate nationwide is at 25.9 percent, slightly up from 25.7 percent in the…Read More »

Budget chief Abad proposes P2.6-trillion 2015 budget

Monday, 14 July 2014 | Written by

Budget Secretary Florencio “Butch” Abad has proposed a P1.206-trillion national budget for 2015, a 15-percent increase compared to the 2014 budget. Palace Communications Secretary Herminio Coloma Jr. said the key expenditures for next year’s budget include social protection and social services; job generation and economic expansion; climate adaptation and mitigation; and enabling environment for inclusive growth. For social protection, the…Read More »

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