mb.com.ph | Philippine News | Author Archives
Home » Entries posted by Bernie Magkilat
Bernie Magkilat

The rise of boutique accounting services

If the huge demand for accountants were the basis for growth of businesses in this country, then, indeed, we have a thriving entrepreneurial Filipinos.  Not only Filipinos at that but many foreign firms building their presence here and are outsourcing their financial and accounting functions. This practice was made more prevalent starting 2005. Macky C. Katigbak, who hails from a family of accountants, saw and grabbed this opportunity to set up his own enterprise, the E-Manage, Inc. THE COMPANY E-Manage, Inc. (EMI) was founded in 2002 as a boutique outsourcing company that caters to the needs for accounting, tax, and legal services for foreign and local companies. Since then, E-Manage has been servicing many small to medium companies that are looking for specialized solutions for their individual accounting needs. Its team consists of CPAs, tax …

Read More

Business calls for national dialogue to craft a ‘strategic’ foreign policy

The Makati Business Club (MBC), which groups most of the country’s largest conglomerates, yesterday said it welcomed the Duterte administration’s efforts to rebuild relationships with China but stressed the need to conduct a multi-sectoral dialogue as the government recalibrates a new foreign policy even as it warned it cannot just dismiss the invaluable support of the United States. “We support the drive for an independent foreign policy, particularly during this time when the Philippines has gained international respect, recognition and confidence over the past few years,” according to the MBC statement. But the MBC also stressed that as the country “transitions through this recalibration in our foreign policy, we call on the government to initiate another multi-sectoral dialogue similar to when it drafted the 10-point socio-economic agenda.” The MBC has urged government to …

Read More

BPO seeks Malacañang clarification

The $22 billion IT-business process management (IT-BPM) industry is seeking clarification on President Duterte’s pronouncements for “separation” of economic relations with US, the Philippines’ long-time ally. In a speech during his four-day state visit to China, the President declared to break from the economic and military relations from the US. The IT-BPM industry, which is largely represented by the Business Process Association of the Philippines (IBPAP), generated $22 billion in  services exports last year. Of the $22 billion revenues, majority or 80 percent originate from US-based clients. The industry employs 1.1 million skilled Filipinos. “We continue to monitor the developments given President Rodrigo R. Duterte’s pronouncement Thursday regarding our military and economic ties with the US. IBPAP has formally reached out to the Office of the President to secure an audience with him …

Read More

US readies 2nd MCC compact for PH agri

Despite unsavory rhetoric by President Duterte against the United States, the country’s long-time ally instead turned the other cheek as it readies a grant that will help develop the Philippine agriculture, a key component of the government’s 10-Point Economic Agenda. A statement to the media by the Philippine Embassy in Washington D.C. said that officials of the Millennium Challenge Corporation. (MCC) and Philippine government officials discussed the second compact program and its relevance to improving Philippine agriculture at a recent forum on World Food Prize in Iowa.  MCC is an independent U.S. Government foreign aid agency. Earlier this year, the Philippine government completed the first 5-year compact, a $433-million MCC program focused on road rehabilitation, community development, and revenue administration reform. The second compact, now under development, is proposed to focus on increasing …

Read More

PH gears up for e-vehicle hub in ASEAN

The P500-million Mobility as a System (MaaS), the first of the planned three-phased project funded by the Japanese government, was launched yesterday, boosting the Philippines bid to become a regional production hub for electric-vehicles. A total of 50 e-trikes were rolled out yesterday to provide transport service within the historic walled city – Intramuros. The P550 million grant covers the cost of the e-vehicles plus 17 charging stations. The e-trikes were supplied by BEMAC Electric Transportation Philippines, Inc. and operated by EMC Metro Transport Operation, Inc. Its implementation is being monitored by a steering committee composed of the Board of Investments and the Intramuros Administration (IA). The MaaS project is a grant by the Japanese government through New Energy and Industrial Technology Development Organization (NEDO) and in cooperation with Japanese technology provider …

Read More

Higher excise tax to affect CARS, dampen demand

The Board of Investments (BOI) is assessing the impact of the planned higher excise taxes on automobiles saying this could have a dampening impact on demand and even on its pet  manufacturing project – Comprehensive Automotive Resurgence Strategy (CARS). BOI Executive Director for Industry Development Services Ma. Corazon Halili-Dichosa told reporters covering the roll-out of the Mobility as a System (MaaS) project, which piloted 50 e-trikes for the Intramuros, a R550-million grant by the Japanese government through New Energy and Industrial Technology Development Organization (NEDO) and Japanese IT service provider SoftBank Corporation. Initially, Halili-Dichosa said a higher excise tax rate will curtail demand but she also stressed that BOI is still getting  all inputs from industry players. “Were still getting position from all as we are also internally studying how the new tax …

Read More

No end to ‘endo’, only restrictions

The government cannot afford to entirely abolish labor contractualization or “endo” (end of contract scheme), saying it “cannot kill the goose” that lays the gold egg rather restrictions can be imposed to avoid abuses by few service providers and employers on workers. Former Labor Undersecretary Atty. Josephus Jimenez, former President of People Management Association of the Philippines (PMA),  told reporters on the sidelines of the 6th P&A Grant Thornton Business Forum as the Department of Labor and Employment (DOLE) is expected to release soon the amended Department Order (DO) 80-A following after consultations with various sectors on the issue of contractualization. "My expectation is they cannot abolish contractualization but only put restrictions like the definition of core and non-core functions,” said Jimenez, who wrote an analysis “8+2 Indubitable Reasons Why Legitimate Job …

Read More

Gov’t to create micro funding, revive heritage industries

The Duterte administration is coming up with two new special projects: micro funding for bottom of pyramid that will outlaw loan sharks or the 5-6 scheme and revival of local heritage industries. Trade and Industry Secretary Ramon M. Lopez, who accompanied President Duterte’s visit to Brunei, said in a social media post that the two new special projects, which were part of Duterte's election campaign promise, were hatched during a briefing for the President’s Brunei trip. For the first project, Lopez said the government will create a regional micro funding that will target the bottom of the pyramid like the small market vendors. This micro funding will be complemented by a government’s order to make loan sharks or the 5/6 illegal. Loan sharks normally lure micro vendors, who have no access to formal …

Read More

Economic slowdown to hit ports the hardest – S & P

Seaport operations in the Asia-Pacific region are expected to suffer the strongest impact from the headwind of slowing economies in the region, Standard and Poor’s Ratings Services (S&P) said in its latest report. In the report “Asia-Pacific Sector Outlook 4Q 2016: Net Negative Outlook Bias Rises to 13 percent from 11 percent,” S&P said across the region the ports sector is facing the strongest headwind with softening gross domestic product (GDP) growth. In the short term, the report added, ports are expecting potential impact from the recent bankruptcy filing of South Korean cargo liner Hanjin Shipping. S&P said shipping ports are faring the worst because of weak volume growth. “Ports dedicated to commodity trades could benefit from the recent rebound of coal prices although this would reduce the downside risk rather than providing true …

Read More

Mindanao farmers urged to plant coffee

Mindanao farmers are urged to plant more coffee because the climate in the region is suitable for coffee production, which has been on the downtrend. Pacita Juan, chair of the Philippine Coffee Board, Inc. (PCBI), said the robusta coffee variety can be planted at the foothills of Mt. Apo, Mt. Matutum and Mt. Kitanglad. Arabica, which are suited for planting in high altitude places, can be planted at the top of these mountains. Both robusta and Arabica can be planted anytime of the year. “This is why the  PCBI has been advocating that people from Mindanao should plant more coffee in the region,” said Juan. According to Juan, the long dry spell that continued to hit Cavite and Benguet is likely to pull down the country’s coffee output this year. The Philippines would be lucky if …

Read More

Page 1 of 52123Next ›Last »