philippines - Banking & Finance

House panel opens deliberations on SGMA bill creating centralized home financing program

Low-cost socialized housing may be right around the corner as the House Committee on Urban Housing and Development chaired by Rep. Alfredo Benitez (3rd District, Negros Occidental) began on Wednesday its deliberations on a bill seeking to establish a unified housing and urban development fund and a centralized home financing program.
Date: 12 October 2018; Type: Legal News; Source: House of Representatives

House okays P3.757-T National Budget on Second Reading

MANILA, Oct 3 (PNA) - The House of Representatives on Wednesday night approved on second reading the proposed PHP3.757-trillion 2019 national budget.
Date: 03 October 2018; Type: Legal News; Source: Philippine News Agency

Lopez welcome Bills institutionalizing Government Microfinance

MANILA, Sept 27 (PNA) - Trade Secretary Ramon Lopez welcomed legislative measures supporting the microfinance program of the Department of Trade and Industry (DTI), Pondo sa Pagbabago at Pag-asenso or P3 Program.
Date: 27 September 2018; Type: Legal News; Source: Philippine News Agency

House holds Marathon Budget Deliberations to meet October Deadline

MANILA, Sept 25 (PNA) - The House of Representatives is holding marathon deliberations - even extending the plenary session until the wee hours - on the proposed PHP3.757-trillion 2019 national budget to meet its approval deadline by October 12, Speaker Gloria Macapagal-Arroyo said on Tuesday.
Date: 25 September 2018; Type: Industry Updates; Source: Philippine News Agency

CA stops Auction, Sale of Banco Filipino

MANILA, Sept 25 (PNA) - The Court of Appeals has stopped the auction and transfer of properties of the defunct Banco Filipino Savings and Mortgage Bank (Banco Filipino).
Date: 25 September 2018; Type: Legal News; Source: Philippine News Agency

House okays P51-B Realignment in 2019 Budget

MANILA, Sept 18 (PNA) - The House of Representatives, convening as the Committee of the Whole, on Tuesday approved a report proposing the realignment of at least PHP51.792 billion of the Department of Public Works and Highways (DPWH) budget for 2019 to fund various programs of other government agencies.
Date: 18 September 2018; Type: Legal News; Source: Philippine News Agency

House adjourns without tackling 2019 Budget

MANILA, Sept 17 (PNA) - The House of Representatives on Monday adjourned its plenary session without the sponsorship of House Bill No. 8169 or the 2019 General Appropriations Bill (GAB).
Date: 17 September 2018; Type: Industry Updates; Source: Philippine News Agency

BSP enhances Guidelines on Currency Rate Risk Protection Program

MANILA, Sept 17 (PNA) - The Monetary Board (MB) approved the enhanced guidelines on the Currency Rate Risk Protection Program (CRPP) aimed at easing the demand pressures in the foreign exchange spot market, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement over the weekend. The CRPP is a hedging facility offered by the BSP through ...
Date: 17 September 2018; Type: Legal News; Source: Philippine News Agency

Senate Panel okays proposed BCDA 2019 Budget

MANILA, Sept 12 (PNA) - A Senate sub-committee on finance approved on Wednesday the proposed budget of the Bases Conversion Development Authority (BCDA).
Date: 12 September 2018; Type: Legal News; Source: Philippine News Agency

House wants P6-B Fund to provide Micro-loans for MSMEs

MANILA, Sept 11 (PNA) - The House of Representatives on Tuesday adopted a resolution requesting President Rodrigo Duterte to allocate PHP6 billion in the 2019 budget for the micro-lending program of the Department of Trade and Industry (DTI) for Micro, Small and Medium Enterprises (MSMEs).
Date: 11 September 2018; Type: Industry Updates; Source: Philippine News Agency

Senate approves P1.16-B Supplemental Budget for Dengvaxia Recipients

MANILA, Sept 5 (PNA) - The Senate on Wednesday unanimously approved on third and final reading a bill providing a PHP1.161-billion supplemental budget to fund the medical needs of children who were given the Dengvaxia dengue vaccine.
Date: 05 September 2018; Type: Legal News; Source: Philippine News Agency

Senate Finance Panel approves OP, PMS 2019 Budget

MANILA, Aug 30 (PNA) - The Senate finance committee on Thursday approved the proposed 2019 budgets of the Office of the President (OP) and the Presidential Management Staff (PMS).
Date: 30 August 2018; Type: Legal News; Source: Philippine News Agency

House Panel approves OP Budget for 2019 in Minutes

MANILA, Aug 29 (PNA) - The House of Representatives' appropriations committee on Wednesday swiftly approved the PHP6.77-billion budget of the Office of the President (OP) for 2019.
Date: 29 August 2018; Type: Legal News; Source: Philippine News Agency

CA blocks BSP Disposal of Banco Filipino Assets

MANILA, Aug 23 (PNA) - The Court of Appeals (CA) ordered the Bangko Sentral ng Pilipinas (BSP) to stop from bidding out, selling and disposal of the assets of the defunct Banco Filipino Savings and Mortgage Bank.
Date: 23 August 2018; Type: Legal News; Source: Philippine News Agency

House to resume Budget Hearings on August 28

MANILA, Aug 22 (PNA) - The House of Representatives' appropriations committee will resume the budget briefings once Congress reconvenes on August 28.
Date: 22 August 2018; Type: Industry Updates; Source: Philippine News Agency

House to resume Budget Hearings

MANILA, Aug 15 (PNA) - The House of Representatives is set to resume its hearings on the proposed 2019 national budget over the congressional break after reaching a compromise with the Palace, House Majority Leader Rolando Andaya Jr. said on Wednesday.
Date: 15 August 2018; Type: Legal News; Source: Philippine News Agency

House stands Ground against proposed 2019 Cash-Based Budget

The House of Representatives is standing firm against the proposed shift to cash-based budgeting system for 2019, according to House Committee on Appropriations Chairman Karlo Alexei Nograles (1st District, Davao City).
Date: 13 August 2018; Type: Legal News; Source: House of Representatives

House assures No Re-enacted Budget for Next Year

House Majority Leader Rep. Rolando Andaya Jr. (1st District, Camarines Sur) on Monday crossed out the possibility of a re-enacted budget in 2019.
Date: 13 August 2018; Type: Legal News; Source: House of Representatives

Islamic Banking Bill hurdles House Panel

MANILA, Aug 14 (PNA) - A bill seeking to organize and regulate Islamic banks in the country has hurdled committee level at the House of Representatives.
Date: 14 August 2018; Type: Legal News; Source: Philippine News Agency

No reenacted Budget for 2019 despite Cuts

MANILA, Aug 10 (PNA) - The chairman of the House appropriations committee on Friday assured the public that there would be no reenacted budget for next year amid lawmakers' outright opposition to the new cash-based budgeting system proposed by the Department of Budget and Management (DBM).
Date: 10 August 2018; Type: Legal News; Source: Philippine News Agency

INDUSTRY UPDATES

House absent at Court during Advocates' Law Judicial Review Session

Jakarta, Oct 18 (ANTARA News) - The House of Representatives (DPR) did not attend the Constitutional Court (MK) session on the judicial review of Article 16 Law No.18/2003 regarding advocates immunity rights.

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Solon files Bill on Overtaking Cyclists

MANILA, Oct 18 (PNA) - A party-list lawmaker at the House of Representatives is pushing for a measure requiring a minimum distance of 1.5 meters for motorists overtaking cyclists.

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Hontiveros optimistic PRRD will sign Pet Bills into Law

MANILA, Oct 18 (PNA) - Senator Risa Hontiveros on Thursday said she is confident that President Rodrigo Duterte would sign several bills that she authored and sponsored into law.

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JBC interviews Two Bets for Supreme Court Justice

MANILA, Oct 18 (PNA) - The Judicial and Bar Council (JBC) on Thursday conducted its public interview for two aspirants for the Supreme Court (SC) Associate Justice vacancy following the retirement of Chief Justice Teresita Leonardo-de Castro.

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PM tables Mid-Term Review of 11th Malaysia Plan in Dewan Rakyat

KUALA LUMPUR, Oct 18 (Bernama) - Prime Minister Tun Dr Mahathir Mohamad today tabled the Mid-Term Review of the 11th Malaysia Plan (11MP - 2016-2020) in the Dewan Rakyat.

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SC allows Media Coverage of de Lima Drug Case Trials

MANILA, Oct 17 (PNA) - The Supreme Court (SC) allowed news coverage of Senator Leila de Lima’s trials for alleged drug trading activities before the Muntinlupa City Regional Trial Court (RTC).

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House supports Placement of Migrant Workers through One Channel

Jakarta, Oct 16 (ANTARA News) - Chairman of the House of Representatives` (DPR`s) Commission IX Dede Yusuf supported the placement of Indonesian migrant workers through the One Channel Placement System (SPSK) agreed upon by Indonesia and Saudi Arabia.

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Industry 4.0 to put Indonesia among Top 10 Economies

Jakarta, Oct 17 (ANTARA News) - The fourth industrial revolution, also known as industry 4.0, is expected to make Indonesia one of the top 10 economies in the world in 2030, Industry Minister Airlangga Hartarto said.

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Government encourages SMEs to go Digital

Jakarta, Oct 16 (ANTARA News) - The government encourages national small and medium enterprises or SMEs to take advantage of the digitalization era by using online networks to expand their businesses.

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WIPO Director General Conferred the Order of Sikatuna

World Intellectual Property Organisation (WIPO) Director General Dr. Francis Gurry has received the highest Presidential honour of diplomatic merit in recognition of his extraordinary efforts to sustain and strengthen WIPO’s relations with the Philippine government, through the Intellectual Property Office of the Philippines (IPOPHL).

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PH Ambassador Promotes ASEAN Trade, Tourism in Spain

MADRID, Oct 16 (DFA) - To raise awareness about ASEAN and promote ASEAN trade and tourism in Spain, Philippine Ambassador to Spain Philippe J. Lhuillier and the other ASEAN Ambassadors in Madrid paid a courtesy call on the Spanish Minister for Industry, Trade, and Tourism Maria Reyes Maroto Illera.

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BOC, PCG Ink MOA for Strengthened Joint Anti-Smuggling Operations

The chiefs of the Bureau of Customs (BOC) and the Philippine Coast (PCG), on Monday, October 15 signed a Memorandum of Agreement (MOA) which provides them guidelines in the conduct of anti-smuggling joint operations within the country’s borders.

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PH Showcases Best Practice on Anti-Poverty

NEW YORK, Oct 12 (DFA) - The Philippines underscored the crucial need to use the Multidimensional Poverty Index (MPI) as an alternative measure of poverty during the High-level side-event on “Using the Multidimensional Poverty Index to guide innovative policies in all its dimensions” held on the sidelines of the 73rd Session of the United Nations (UN) General Assembly High Level Week held at the UN Headquarters in New York on 25 September 2018

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21 Law Firms vow to create more chances for Young Lawyers

Twenty-one law firms, including Drew & Napier and Tan Rajah & Cheah, have pledged to provide more opportunities for young lawyers to represent their clients in court.

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Thailand hosts ASEAN Disaster Assessment and Mitigation Training Course

BANGKOK, Oct 16 (NNT) - Thailand is hosting the latest ASEAN training course on regional disaster assessment and mitigation to ensure timely assistance, and enhance the reach and capability of the region’s relief efforts.

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Del Castillo to head JBC Search for Next CJ

MANILA, Oct 16 (PNA) - Associate Justice Mariano del Castillo will sit at the helm of the Judicial and Bar Council (JBC) in screening aspirants for the vacancy in the Supreme Court (SC) following the retirement of Chief Justice Teresita Leonardo-de Castro, JBC ex-officio member and Justice Secretary Menardo Guevarra said Tuesday.

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SC reorganizes Three Divisions as Hernando assumes Post

MANILA, Oct 16 (PNA) - The Supreme Court (SC), under Acting Chief Justice Antonio Carpio, has reorganized the membership in its three divisions following the entry of its newest member, Associate Justice Ramon Paul Hernando.

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Non-infra Programs face Cancellation if Oil Excise Tax suspended

MANILA, Oct 15 (PNA) - Some of the Duterte administration's non-infrastructure expenditures scheduled for 2019 face possible cancellation if the implementation the oil excise tax's second tranch is put on hold due to soaring world crude prices, Finance Secretary Carlos Dominguez III said.

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