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Philippines NFA authority confirms widespread rice smuggling in Zamboanga

MANILA: A National Food Authority official confirmed the widespread smuggling of rice in Zamboanga City and other parts of Mindanao. NFA Administrator Renan Dalisay revealed the existence of rice smuggling in the whole of Region 9 which include Zamboanga City, before the joint House Committees of Agriculture and Food and Food Security. In a statement, Dalisay recalled his recent visit ... Read More »

Philippines customs chief resigns due to ‘political compromises’

MANILA: Philippines Customs Commissioner, John Sevilla, announced his resignation due to the “political compromises” in the agency. During a press briefing, Sevilla announced that he has tendered his resignation to President Benigno Aquino III on Wednesday. Sevilla will remain as Customs Commissioner until the president appoints his replacement. “Kailangan may political skills ang commissioner ng Customs. Wala po akong political ... Read More »

International Container Terminal not renewing Naha port lease

MANILA: International Container Terminal Services Inc. (ICTSI) is not renewing the lease at the Naha port in Okinawa, Japan that is set to expire at the end of the year. ICTSI director for treasury Arthur Tabuena said in a disclosure to the Philippine Stock Exchange (PSE) that the company has sold its 90,000, shares, representing 60 percent of the total ... Read More »

Philippine value of import goods reaches $5.326b, up 11.2% from $4.788b

MANILA: The value of imported goods that entered the country in February reached $5.326 billion—up 11.2 percent from the $4.788-billion reported in the same month last year. According to the Philippine Statistics Authority (PSA), the growth in imports last February was the fastest in 13 months, even though the value of shipments in the first two months of 2015 slightly ... Read More »

Mexico, PHL working on nomination of Manila-Acapulco galleon trade route to World Heritage list

MEXICO CITY: The Philippines and Mexico are working together for the nomination of the Manila-Acapulco galleon trade route to the UNESCO World Heritage List. According to the Department of Foreign Affairs, Filipino and Mexican experts on the galleon trade will be invited to an international meeting to decide possible sites for inclusion in the nomination. Last April 23, a roundtable ... Read More »

Utilization rates at ports of Manila decrease dramatically to below 60 percent

MANILA: Utilization rates at the ports of Manila have been cut by almost half after exceeding 100 percent months after the city government of Manila imposed a truck ban in February last year. The vast improvement could be traced to the system implemented by the government as well as port operators led by International Container Terminal Services Inc. (ICTSI). ICTSI ... Read More »

Philippines Customs chief Sevilla resigns

MANILA: Just over a year after assuming the leadership of the Bureau of Customs (BOC), commissioner John Sevilla stepped down, citing helplessness against influence peddlers and admitting his failure to totally eliminate corruption in the bureau. “Since I started, I did everything I could to make sure that politics would not be a factor in the Customs operations. But it ... Read More »

Philippine customs’ revenue slows 6.6% to P92.2 billion

MANILA: Import duties and other taxes collected by the Bureau of Customs (BOC) grew 6.6 percent year-on-year to P92.2 billion during the first quarter, albeit a slower growth rate compared with the double-digit rise posted last year due to cheaper oil. While the first-quarter take exceeded the P87.3 billion in collections during the first three months of 2014, it was ... Read More »

Philippines customs seizes 9,000 rice sacks worth $282,000m

MANILA: Philippines Customs seized 9,000 sacks of rice from Malaysia in Dumaguete, Negros Oriental. Intelligence Group members are looking into the illegal entry of smuggled rice in Dumaguete, a recent trend in smuggling. According to Deputy Commissioner for Intelligence, Jessie Dellosa, “That is what we are looking at right now after we became strict in Mindanao. Smugglers are testing if ... Read More »

Philippines customs auctions smuggled rice in Zamboanga

MANILA: Philippines customs of bureau (BOC) will be auctioned around 21,460 sacks of smuggled rice worth over P22 million at the Port of Zamboanga. The public auction for the 576,000 kilograms of rice will be held at the conference room of the Customs office in Zamboanga port on April 15, Wednesday, at 2:30 p.m. The various shipments of rice to ... Read More »

Low inflation, strong growth put Philippines in comfortable position: M. Tetangco Jr.

MANILA: Economic managers have built up enough buffers to ensure the country stays on its current growth path, or at the very least avoid major crises, amid several risks from overseas. M. Tetangco Jr. said low inflation and strong growth put the Philippines in a comfortable position despite dark clouds in other countries. “Given the positive alignment between inflation and ... Read More »

Philippines urges Asia Pacific countries to strengthen financial system

MANILA: The Philippines has called on Asia-Pacific countries to strengthen their financial system to ensure their economic stability and resilience and reduce their vulnerability to financial contagion. The country, through the Department of Finance, is pitching for greater financial integration within Asia-Pacific Economic Cooperation (APEC) members to help create a more stable financial market and help rebalance the global economy. ... Read More »

Philippine Airlines buys 2 more Airbus jets for fleeting program

MANILA: The Philippines’ struggling flag carrier said, it has purchased an additional two Airbus jets as part of its re-fleeting program. The two Airbus A321 NEO planes bring to 40 the total number of deliveries that Philippine Airlines (PAL) will receive from Airbus up to 2024, the carrier said in a statement. “The A321 NEOs will enable PAL to continue ... Read More »

Philippines likely to achieve economic growth of 6.2% this year: ICAEW

MANILA: Philippine economic growth should accelerate this year, although still below the government’s seven to eight percent target, the Institute of Chartered Accountants in England and Wales (ICAEW) said in a report. ICAEW has estimated the country’s economic growth at 6.2 percent this year, faster than the 6.1 percent recorded in 2014 but still below the government’s target. “Infrastructure problems ... Read More »

Philippines customs seizes luxury car, motorcycles, computers worth P11.1m

MANILA: The Bureau of Customs (BOC) seized luxury goods at the Manila International Container Port (MICT) on violation of laws against technical smuggling. Technical smuggling is an act of fraudulently, falsifying or erroneously declaring imported goods entering a country. Outright smuggling is bringing in goods without complete government importation documents. Following an alert order by the bureau’s Enforcement Group on ... Read More »

Philippines authorities nab smuggler with illicit $340,000 rice

MANILA: Philippines authorities nabbed a person who attempted to smuggle $340,000 rice from Thailand. Francis Pangilinan, presidential assistant for Food Security and Agricultural Modernization, said that the state-run National Food Authority (NFA) confiscated approximately 5,000 bags or close to 250,000 kilograms of rice stored in a warehouse owned by a certain businessman. According to initial information from the National Bureau ... Read More »

Philippines’ revenue board raises tax exemption to PHP82,000

MANILA: Philippines’ revenue board raised individual income tax exemption to PHP82,000 (USD1,827), as compared to its past level of PHP30,000. The regulations stipulate that the exemption on such benefits, which also include productivity incentives and Christmas bonuses, specifically refers to “exclusions from gross compensation income received by an employee.” It is therefore not applicable to self-employed individuals or to income ... Read More »

Philippines customs arrests 5,000 people in milk import violations

MANILA: Philippines customs arrested 5,000 people in milk import violation and most offenders were fined between HK$250 and HK$100,000 by courts, with only 157 people being jailed for between one and 140 days. Almost two-thirds of who were mainlanders in the past year for taking more than the allowed amount of baby formula across the border, new figures have shown. ... Read More »

Philippines plans to build new port in Cebu worth $200m

MANILA: Philippines government has planned to build a $200 million new port in Cebu to help decongest Cebu City port. Transportation Undersecretary for Project Implementation, Julianito Bucayan, said the final site for the new port in Cebu will depend on the outcome of the feasibility study that is still being conducted. The Japan International Cooperation Agency is helping the Philippine ... Read More »

Philippines customs seeks early acceptance of proposed tariff act

MANILA: Philippines customs said that they would push for early acceptance of proposed tariff act to sustain the reforms being implemented at the Bureau of Customs (BOC). Department of Finance (DOF) said in a statement, that once legislated, the measure would “institutionalize and consolidate reforms in what would be the most improved national government agency in terms of collections growth.” ... Read More »