by magnolia_eic | Jul 9, 2010 | Business, Headlines, National News
THE Aquino administration will embark on an aggressive liability management effort by exploring various options available to government, Finance Secretary Cesar Purisima said on Wednesday.
Purisima said the new government would review the current borrowing program set by the previous administration.
“What we want is to lengthen maturities,” said Purisima, adding that in three to four years, there would be some bunching up of maturities.
As such, he said the government would embark on a liability management effort by reviewing existing borrowing strategies and future plans.
Options include doing debt swaps and bond exchanges.
“We will consider all instruments available to us based on the right price and the right cost. It will also depend on the timing,” he said.
Purisima did not provide details on when the review would be concluded. (PIA-Bohol)
by magnolia_eic | Jul 9, 2010 | Headlines, National News
GITUDLO ni President Benigno Aquino III niadtong Miyerkoles si retired Air Force Major General Jose Angel Honrado isip bag-ong general manager sa Manila International Airport Authority kon MIAA.
Parte si Honrado sa Presidential Security Group sa dihang presidente pa ang inahan ni P-Noy nga si Corazon Aquino.
Gi kompirma usab ni Aquino nga gi konsidera niya si Quezon City police chief Magtanggol Gatdula nga mangulo bisan hain sa National Bureau of Investigation o sa Philippine Drug Enforcement Agency.
Matud pa ni Aquino nga si kanhi Armed Forces chief Nestor Ochoa hatagan usab og ambassadorial post sa nasud sa Asya sa iyang pagretiro. Si kanhi president Arroyo nitudlo kang Ochoa isip AFP chief sa dihang ni retiro si Gen. Delfin Bangit. Si Ochoa gihulipan usab ni Lt. Gen. Ricardo David sa pagdawat sa pangagamhanan ni Aquino. (PIA-Bohol)
by magnolia_eic | Jul 8, 2010 | Headlines, National News
THE rules and regulations implementing Republic Act 9994, also known as the Expanded Senior Citizens Act of 2010, started its implementation on Tuesday after it was signed last week by the Department of Social Welfare and development (DSWD) and non-government agencies.
With its implementation already in place, Senator Loren Legarda said the country’s Senior Citizens will be having a more comfortable life due to the benefits that they will avail.
Legarda, principal author of RA 9994, explained that among the salient provisions of the Expanded Senior Citizens Act of 2010 are that senior citizens shall be granted exemption from the value-added tax (VAT) provided under the National Internal Revenue Code on the sale of goods and services from all establishments and a twenty percent discount on the following:
Purchase of medicines; on the professional fees of attending physicians in all private hospitals, medical facilities, and outpatient clinics; on medical and dental services, diagnostic and laboratory fees in all private hospitals and medical facilities, and outpatient clinics;
Actual fares for land transportation, domestic air transport services and sea shipping;
Utilization of services in hotels and similar lodging establishments, restaurants and recreation centers;
Admission fees charged by theaters, cinema houses and concert halls, circuses, carnivals and other similar places of culture, leisure and amusement. (PIA-Bohol)
by magnolia_eic | Jul 8, 2010 | Headlines, National News
THE government is now forming five-man peace panels for the impending resumption of negotiations with communist and Moro secessionist rebels, Malacañang said Tuesday.
Presidential spokesman Edwin Lacierda said presidential adviser on the peace process Teresita “Ging” Deles gave President Benigno “Noynoy” Aquino III Tuesday morning her recommendations for the heads of the panels that will negotiate with the Communist Party of the Philippines-New People’s Army-National Democratic Front and the Moro Islamic Liberation Front.
Lacierda refused to give names until the two panels are formed.
Lacierda said the resumption of peace negotiations with the two groups is the Aquino administration’s “internal” solution to the problems in conflict-ridden and poverty-stricken Mindanao.
The NPA, the armed wing of the CPP, operates nationwide while the MILF has its forces mostly in Central Mindanao. (PIA-Bohol)
by magnolia_eic | Jul 8, 2010 | Business, Headlines, National News
THE Bangko Sentral ng Pilipinas (BSP) said that consumers will continue to enjoy lower money transfer and remittance costs due to heightened competition between banks and companies that offer money transfer and remittance services.
BSP Deputy Governor Nestor Espenilla Jr. said in an interview with reporters that companies that offer money transfer and remittances services have been forced to lower their fees in light of the strong competition from banks that offer similar services as well as providers of mobile banking services.
He pointed out that the central bank no longer needs to step in and intervene in the sector as competition has forced companies engaged in the money transfer and remittance business to lower their fees.
To date, the BSP said there are about eight million users of mobile banking in the Philippines boosting the central bank’s efforts to provide financial services in rural and hard to reach areas at a lower cost and higher efficiency.
These users of electronic money (e-money) transact through Smart Money of PLDT-controlled Smart Communications and G-cash of Ayala-controlled Globe Telecom in the Philippines.
Espenilla said the number of banks offering mobile banking for microfinance operations has reached 49 rural banks from none before 2005. (PIA-Bohol)
