Filipinos' total savings reach close to P1-T in 2012 Created on December 28, 2012, 3:14 am Posted by nup

OFW MONEY. The Philippines is the third-biggest recipient of dollar remittances in the world. Photo from AFP

MANILA, Philippines - Apart from being a banner year for the economy, the government said 2012 was also the 4th consecutive year when Filipino household's became the primary savings driver in the country.

Data from the Bangko Sentral ng Pilipinas (BSP) showed that Filipino household's savings increased by 6.3% to P909.8 billion, making it the prime savings driver in the economy.

With IRR out next week, sin tax law to take effect January Created on December 28, 2012, 3:13 am Posted by nup

Bureau of Internal Revenue Commissioner Kim Henares

MANILA, Philippines - The sin tax law will be implemented early January, said the Bureau of Internal Revenue (BIR), which is set to release the law's implementing rules and regulations (IRR) next week.

BIR Commissioner Kim Henares said on December 22 there is no need to conduct public hearings on the IRR of Republic Act 10351 or the Sin Tax Reform Act of 2012 as the rules will "not deviate" from the provisions of the law.

PH rank in 2012 global surveys improves but... Created on December 28, 2012, 3:09 am Posted by nup

MANILA, Philippines - How did the Philippines fare in various surveys in 2012 that reflect how players, stakeholders and outsiders view the country?

Philippine National Competitiveness Council (NCC) tracked 8 of the survey results released in 2012. Of these, 5 surveys showed the Philippines' rank or score improved.

Gov't spends 57% more on infrastructure in Jan-Nov Created on December 28, 2012, 3:06 am Posted by nup

MANILA, Philippines - Government spending on infrastructure in January-to-November period increased by 57% to P185.6 billion as the Aquino administration races against time to accelerate disbursements this 2012.

Learning from how underspending in 2011, especially in infrastructure, contributed to lower economic growth, the government coursed infrastructure investments and capital outlay to programs by the Departments of Public Works and Highways (DPWH) and Department of Agriculture

Comelec opens bidding for ballot boxes Created on December 27, 2012, 3:58 am Posted by nup

The Commission on Elections (Comelec) has opened the public bidding for the procurement of 30,000 new ballot boxes needed for the midterm elections next year.
According to the Comelec special bids and awards committee (SBAC), the commission en banc issued a directive ordering the purchase of extra ballot boxes for next year’s elections after getting the nod of the Presidential Election Tribunal (PET) to reuse 57,255 boxes containing votes under protest by Interior Secretary Manuel “Mar” Roxas.

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