Oil firms urged to charge fair markup on fuel acquired before Saudi attacks

REUTERS By Victor V. Saulon, Sub-Editor CONSUMER group Laban Konsyumer Inc. (LKI) is asking the Department of Energy (DoE) to monitor oil companies’ inventory to ensure they charge fair prices on fuel products acquired before the attacks on the Saudi oil refineries. “The DoE should intervene so existing inventory (is) priced at levels pre-Saudi oil incident,” LKI President Victorio Mario A. Dimagiba said in a statement during the weekend. Mr. Dimagiba, a former undersecretary of…

"Oil firms urged to charge fair markup on fuel acquired before Saudi attacks"

Seizures of counterfeit goods valued at P13.7 billion in first seven months

PHILSTAR THE National Committee on Intellectual Property Rights (NCIPR) seized approximately P13.73 billion of counterfeit products valued at P13.73 billion in the seven months to July. In a statement Saturday, the Intellectual Property Office of the Philippines (IPOPHL) said that seizures during the period were equivalent to nearly 60% of the 2018 total. Partially validated data accounting for a fifth of the total inventory found that top seizures included counterfeit branded cigarette and alcohol products;…

"Seizures of counterfeit goods valued at P13.7 billion in first seven months"

Debt service bill nearly doubles in July

BW FILE PHOTO THE government’s debt service bill nearly doubled in July because of increased amortization payments, the Bureau of the Treasury (BTr) said. The national government’s total debt payments rose 95.84% year-on-year in July to P92.46 billion, and was higher compared to P83.81 billion paid out in June. Interest payments in July amounted to P50.97 billion, up 13.66% from a year earlier. Some 60% or P30.64 billion went to domestic creditors while payments made…

"Debt service bill nearly doubles in July"

Salary standardization, OFW dep’t top common agenda items for legislative, executive branches

PHILSTAR THE Legislative-Executive Coordinating Council (LECC) has identified the measures the legislature is prioritizing which are in line with the President’s legislative agenda, the House majority leader said Sunday. Representative Ferdinand Martin G. Romualdez of Leyte’s first district said Congressional leaders and Cabinet officials agreed on the immediate approval of the fifth tranche of the Salary Standardization Law for government workers; the creation of the Department of Overseas Filipino Workers; the postponement of the May…

"Salary standardization, OFW dep’t top common agenda items for legislative, executive branches"

DTI vaping rules mainly concerned with safety, product standards

PEXELS TRADE SECRETARY Ramon M. Lopez said that the Department of Trade and Industry’s (DTI) upcoming guidelines on e-cigarettes and vaping devices will be mainly to ensure the safety of products available on the market. In an interview with BusinessWorld, Mr. Lopez said that the joint guidelines with the Department of Health (DoH) will consider reports of malfunctioning devices have exploded and injured users. “I think the important part of it is the safety of…

"DTI vaping rules mainly concerned with safety, product standards"

House to question Senate’s proposed tax on vaping devices, prefers to tax refills

LINDSAY FOX FROM PIXABAY REPRESENTATIVE Jose Ma. Clemente S. Salceda, the Ways and Means committee chair from Albay’s second district, rejected the Senate’s proposal to impose a 20% excise tax on e-cigarette devices, saying that he prefers to tax consumption. “You tax the consumption… Kung di nabibili ‘yung device, minahalan mo ‘yung device, makikihiram… baka maka transfer ka pa ng sakit (If the device is taxed, it will become more expensive, and might encourage the…

"House to question Senate’s proposed tax on vaping devices, prefers to tax refills"

Legislator seeks probe of gaming operators not registered as companies

PHILSTAR A LEGISLATOR on Sunday called for an investigation into unregistered Philippine Offshore Gaming Operators (POGOs) and to look into their ultimate ownership. Representative Robert Ace S. Barbers of Surigao del Norte’s second district claimed that he has received reports that 46 out of the 58 POGO firms licensed by the Philippine Amusement and Gaming Corp. (PAGCOR) are unregistered corporations. “I may not be too accurate but I am certain that most if not all…

"Legislator seeks probe of gaming operators not registered as companies"

Price-controlled drug list expected after issuance of health care IRR

By Gillian M. CortezReporter THE PRICE ceilings on patented medicines will be released soon after the issuance of the Universal Health Care (UHC) Law Implementing Rules and Regulations next month. Pharmaceutical Division head Anna Melissa S. Guerrero of the Department of Health (DoH) told BusinessWorld that medicines covered by the Maximum Retail Price (MRP) scheme will be released within the year. She said such drugs are typically those that have no competition in the market.…

"Price-controlled drug list expected after issuance of health care IRR"

Mining taxes eyed for sovereign wealth fund

PHILSTAR By Arjay L. BalinbinReporter REPRESENTATIVE Jose Ma. Clemente S. Salceda, the Ways and Means committee chair from Albay’s second district, said he will push for a mining tax that sets aside 30% of the government revenue generated from the industry to help set up a sovereign wealth fund. “I can assure you that (sovereign wealth fund) will be a key feature of the law,” he told BusinessWorld in a phone interview Friday. Congress is…

"Mining taxes eyed for sovereign wealth fund"

Philippines seeking to join APEC data privacy system

REUTERS THE Philippines has applied to join the Cross-Border Privacy Rules (CBPR) system to adopt privacy standards in order to ease data exchange across the Asia-Pacific, the National Privacy Commission (NPC) said in a statement Friday. The Asia Pacific Economic Cooperation (APEC) CBPR is a voluntary certification mechanism that allows member companies to safely transfer data across APEC economies. “When businesses become CBPR-certified, they may then transfer personal data in a safe and seamless manner…

"Philippines seeking to join APEC data privacy system"