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Banks expand network reach

By Kathleen A. Martin (The Philippine Star) | Updated March 24, 2015 - 12:00am

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MANILA, Philippines - The number of banks dropped last year but the lenders’ operating network continued to expand during the period, Bangko Sentral ng Pilipinas data showed.

Read more: http://www.philstar.com/business/2015/03/24/1436764/banks-expand-network-reach

BIR to fine taxpayers who fail to file ITRs electronically

By Zinnia B. Dela Peña (The Philippine Star) | Updated March 24, 2015 - 12:00am

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MANILA, Philippines - The Bureau of Internal Revenue will start penalizing taxpayers who are mandatorily required to  electronically file income tax returns (ITRs)  but fail to do so.

Read more: http://www.philstar.com/business/2015/03/24/1436765/bir-fine-taxpayers-who-fail-file-itrs-electronically

PAL to acquire 5 new airplanes for $280 M

By Lawrence Agcaoili (The Philippine Star) | Updated March 24, 2015 - 12:00am

MANILA, Philippines - National flag carrier Philippine Airlines Inc. (PAL) is spending $280 million for its capital expenditures this year primarily to finance the acquisition of five brand new Airbus aircraft.

Read more: http://www.philstar.com/business/2015/03/24/1436768/pal-acquire-5-new-airplanes-280-m

Maynilad awards construction of sewage plant

By Czeriza Valencia (The Philippine Star) | Updated March 24, 2015 - 12:00am

MANILA, Philippines - Maynilad Water Services Inc., the service provider in Metro Manila West Zone, has awarded the construction of its P1.044 billion sewage treatment plant (STP) in Cupang, Muntinlupa City to J.E. Manalo-Degremont Consortium.

Read more: http://www.philstar.com/business/2015/03/24/1436773/maynilad-awards-construction-sewage-plant

SLEx extension to Quezon ready by 2019

San Miguel to start project within a year

Delfin T. Mallari Jr.


Inquirer Southern Luzon

12:13 AM | Tuesday, March 24th, 2015

TIAONG, Quezon–President Aquino on Friday said that after several administrations, dating to the time of deposed President Marcos, a new highway linking Quezon province to the South Luzon Expressway (SLEx) would become a reality in 2019.

Read more: http://business.inquirer.net/189229/slex-extension-to-quezon-ready-by-2019#ixzz3VGH8lNzi

Major Asian markets mostly up after US, Europe gains

Agence France-Presse 12:06 AM | Tuesday, March 24th, 2015

HONG KONG–Major Asian markets mostly advanced Monday following rallies on Wall Street and in Europe, while the dollar continued to struggle after the Federal Reserve dampened expectations for an early interest rate rise.

Read more: http://business.inquirer.net/189231/major-asian-markets-mostly-up-after-us-europe-gains#ixzz3VGIZNSCV

200 foreign brands entered

PH retail sector in past 7 years

Amy R. Remo


Philippine Daily Inquirer

12:10 AM | Tuesday, March 24th, 2015

Close to 200 mid-range and luxury foreign retail brands have entered the local market over the last seven years as international retailers seek growth opportunities in fast-emerging Asia-Pacific economies such as the Philippines.

Read more: http://business.inquirer.net/189225/200-foreign-brands-entered#ixzz3VGJBuneU

Tax Assessments: The burden might not be on you

Business World Posted on March 23, 2015 08:57:00 PM

Tax investigations are burdensome affairs. This is primarily because tax assessments arising from deficiencies are presumed correct and made in good faith. This means that, once you are issued a tax assessment, there is a prima facie presumption that you owe the tax as assessed. And the burden of proof is on you to rebut this presumption, otherwise, the Bureau of Internal Revenue (BIR) wins and you pay, or your assets get levied. Simply put, you are guilty, until proven innocent.

Read more: http://www.bworldonline.com/content.php?section=Economy&title=tax-assessments-the-burden-might-not-be-on-you&id=104882

Korea’s Shinhan Bank set to enter PHL market

Business World Posted on March 23, 2015 08:34:00 PM

By Imee Charlee C. Delavin, Reporter

SEOUL’S Shinhan Bank is set to open a branch in Manila in the third quarter after securing approval from the Bangko Sentral ng Pilipinas (BSP).

Read more: http://www.bworldonline.com/content.php?section=Finance&title=koreas-shinhan-bank-set-to-enter-phl-market&id=104864

Malaysian glassmaker rides high on PHL’s booming construction business

Business Mirror by Manuel Cayon - March 23, 2015

DAVAO CITY—A Malaysian glass manufacturer is riding high on the booming infrastructure and property development activities in the Philippines, citing a steady grip on the construction market and growing acceptance of its regular and high-performance glass materials among Filipino contractors.

Read more: http://www.businessmirror.com.ph/malaysian-glassmaker-rides-high-on-phls-booming-construction-business/


Carmudi taps private-vehicle sellers to push car-industry sales online

Business Mirror by Catherine Pillas - March 23, 2015

CARMUDI Philippines, the online car-classifieds site, is giving an extra push to the already aggressive sales of the automotive industry as it aims to tap more private-vehicle sellers in addition to its commercial clients.

Read more: http://www.businessmirror.com.ph/carmudi-taps-private-vehicle-sellers-to-push-car-industry-sales-online/

Rio Tuba lime plant completed

Manila Standard By Anna Leah E. Gonzales | Mar. 23, 2015 at 11:05pm

Unichamp Mineral Philippines Inc. has completed the construction of a $24-million lime manufacturing plant on an eight-hectare site at the Rio Tuba Economic Processing Zone in Rio Tuba, Bataraza, Palawan province.

Read more: http://manilastandardtoday.com/2015/03/23/rio-tuba-lime-plant-completed/

Ayala spent P9b for infra

Manila Standard By Darwin G. Amojelar | Mar. 23, 2015 at 10:45p

The infrastructure unit of conglomerate Ayala Corp. has invested P9 billion in Philippine rail projects under the government’s public private partnership  program.

Read more: http://manilastandardtoday.com/2015/03/23/ayala-spent-p9b-for-infra/

Mindanao’s fate

Philippine Daily Inquirer 2:09 AM | Tuesday, March 24th, 2015


The botched police operation to arrest international terrorists in Mamasapano has serious implications on business sentiment and the subsequent flow of investments particularly in Mindanao. The perception of risk weighs heavily on the decision-making process of investors. This is the reason no capitalist would put money in troubled places. In fact, the decades-long conflict in Mindanao has been cited as a major factor why the Philippines’ second-biggest island has failed to attract investors and lagged in terms of economic development.

Read more: http://opinion.inquirer.net/83572/mindanaos-fate#ixzz3VGUUVpAK

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