Economic conditions
As part of President Gloria Macapagal-Arroyo's vision to achieve first-world status within 20 years, the Charter Change Advocacy Commission (Cha-cha AdCom) is pushing for the liberalization of economic policies in the 1987 Constitution. The goal is to attract more foreign investment, increase economic growth, and provide more jobs
Economic conditions
The Department of Trade and Industry (DTI) has reported that prices of prime commodities in the Philippines have remained stable since January, except for two detergent brands. According to DTI's monitoring sections, prices of processed basic necessities and prime commodities, such as canned fish, luncheon meat, meat loaf,
Banking industry
China's State-owned enterprises (SOEs) are embracing annuity systems to secure their employees' retirements. The Ministry of Labour and Social Security has granted annuity licenses to China Everbright Bank, Bank of China, and PICC Property and Casualty Company Ltd, marking a significant trend shift towards non-statutory pension plans.
Economic conditions
Hong Kong's Financial Services and Treasury Bureau aimed to increase the territory's competitiveness as an international financial centre by abolishing estate duty as of Saturday. According to a spokesman, the enacted law will help Hong Kong attract more local and overseas investment. The abolition of estate
Banking industry
Despite a recent negative credit rating outlook from Moody's Investor Service, the Philippine government remains committed to its economic blueprint and continues to work towards improving its revenue base and reducing debt levels. Press Secretary Ignacio R. Bunye said that the government takes the mixed outlook as a
Economic conditions
The Philippine Presidential Palace has assured that the government is taking steps to mitigate the impact of the reformed value-added tax (R-VAT) law on the country's economy. Press Secretary Ignacio Bunye stated that the government is doubling its efforts to collect more revenue and increase the payback of
Economic conditions
The Bangladesh Parliament was informed on Sunday that the BIMSTEC free trade agreement is expected to take effect from July 1 this year. Foreign Minister M Morshed Khan stated that discussions among member states are in the final phase, and there is a possibility of future cooperation between SAARC and
Economic conditions
The Indian Union Cabinet has approved the entire bidding process for the modernization of Delhi and Mumbai airports, selecting the GMR-Fraport and GVK-South African Airports consortia for the revamp job. According to Parliamentary Affairs Minister P R Dasmunsi, the bidding process was conducted by the empowered Group of Ministers, following
Banking industry
InnoCentive, a global scientific community that allows companies to collaborate with world-class scientists to achieve innovative solutions to complex challenges, has closed a $9 million Series A Preferred venture capital financing round led by Spencer Trask Ventures, Inc. The funding will support InnoCentive's aggressive growth plan in the
Economic conditions
The Department of Trade and Industry (DTI) has assured the public that any increase in the prices of basic and prime commodities would be reasonable in response to the impending increase in oil prices in the world market. According to DTI Davao City chief Teolulo Pasawa, the DTI has been
Banking industry
Daiwa SB Investments, a leading Japanese asset management company, has selected Charles River Development's Investment Management System (Charles River IMS) to monitor more than USD $31 billion in assets under management. This decision marks a major milestone for Charles River IMS, further solidifying its presence in the Asia
Economic conditions
Over the past five years, the Social Weather Station's surveys have shown a significant decrease in the perception of corruption in income tax collection. According to Mahar Mangahas, the president of the SWS, the incidence of bribery on income taxes decreased from 52% in 2000 to 36% in
