Finance Secretary Carlos G. Dominguez III THE DEPARTMENT of Finance (DoF) said state-owned Land Bank of the Philippines (LANDBANK) and Development Bank of the Philippines (DBP) will not have to remit around P15 billion to the government following the issuance of an order slashing their dividend rates on Monday. Finance Secretary Carlos G. Dominguez III told reporters in a phone message that the two banks do not have to remit dividends amounting to P3.8 billion…"LANDBANK, DBP dividend relief at P15B"
PHILSTAR LABOR Secretary Silvestre H. Bello III said his department will submit its draft Security of Tenure (SoT) bill later this year after legislators finalize the 2020 budget, further delaying the new version of the vetoed measure, which was originally to be forwarded to Congress in August. Mr. Bello told reporters he is waiting for Congress to clear its calendar because legislators are currently preoccupied with the P4.1 trillion 2020 budget. “Nagfofocus ang Congress sa…"DoLE to delay forwarding tenure bill to Congress"
THE Department of Trade and Industry (DTI) has ordered the imposition of definitive general safeguard duty on imported cement for three years to prevent the “threat of serious injury” on local cement products. “We are deciding on the imposition of definitive safeguard duty of P250 per MT (metric ton) or P10 per 40-kg (kilogram) bag for the first year of the implementation to encourage and challenge the local cement industries to be globally competitive,” the…"DTI slaps higher duties on imported cement"
MONEY SUPPLY growth quickened slightly in July even as demand for credit weakened, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. Domestic liquidity or M3, the broadest measure of money supply in an economy, grew 6.7% year-on-year to P11.9 trillion, picking up from the 6.4% rise in June, latest BSP data showed. Month-on-month, money supply increased 0.8%. “Demand for credit eased slightly but remained the principal driver of money supply growth,” the BSP said…"Liquidity, lending growth pick up in July"
Public Works Secretary Mark A. Villar inspects the ongoing construction of the Cavite-Laguna Expressway. THE Department of Public Works and Highways (DPWH) said it expects to open a 10-kilometer (km) Laguna segment of the Cavite-Laguna Expressway (CALAX) ending in Sta. Rosa next month. “Our target is these 10 kilometers by next month. We will open the first 10 kilometers. Para konti na lang tapusin (To leave just a little of it unfinished),” Public Works Secretary…"CALAX 10-km Laguna segment opening in Oct."
THE Joint Foreign Chambers (JFC) said Tuesday they support the exemption of the Philippine Economic Zone Authority (PEZA) from the coverage of the Corporate Income Tax and Incentives Rationalization Act (CITIRA) bill. The CITIRA bill, or House Bill 4157, proposes to reduce the corporate income tax to 20% by 2029 from the current 30%. The measure will also remove redundant fiscal incentives. The bill is in keeping with the general goal of the tax reform…"Foreign chambers back PEZA firms’ exemption from CITIRA bill"
This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. MOOCs, or massive open online course providers, were a big thing a few years ago as startups like Coursera and Udacity were supposed to revolutionize the education business. They didn’t. But MOOCs themselves have changed how learners can learn remotely. As Geoff Colvin reports in the current issue…"Why Harvard and Yale Students Can Skip This Computer Science Class—Data Sheet"
A man fills a plastic bag with rice. The Rice Tariffication Law, or RA 11203, which took effect in March, opened up the market to increased rice imports, favoring sources from within Southeast Asia, whose producers are more efficient than Filipino farmers. — PHILIPPINE STAR/MICHAEL VARCAS LOCAL government purchases of rice directly from farmers are running into problems because of the constraints posed by government procurement rules, Senator Cynthia A. Villar said. She said at…"Procurement law seen hindering direct rice purchases by LGUs"
Negotiation is a fundamental business skill—one that is inextricably bound up with human emotion and psychology as much as economic calculus. Perhaps one day, robot lawyers will go forth to negotiate on our behalf. But, in the meantime, at least one negotiation expert thinks A.I. can be used today to improve humans’ negotiation tactics. Jared Curhan is a professor at M.I.T.’s Sloan School of Business who specializes in negotiation. His particular focus is on what…"An Offer You Can’t Refuse: How A.I. Is Poised to Transform Negotiations. Eye on A.I."
THE PESO weakened further on Tuesday amid continued US-China trade war woes and fears of a no-deal Brexit. — BW FILE PHOTO THE PESO extended its losing streak on Tuesday on continued US-China trade war jitters paired with Brexit issues looming anew amid election prospects. The local unit ended at P52.31 against the greenback on Tuesday, weakening by 20.5 centavos from its P52.105-to-a-dollar close on Monday. The peso opened Tuesday’s session weaker at P52.23 versus…"Peso weakens further on concerns over Brexit, fresh US-China tariffs"