The Department of Finance (DOF) has set in motion the Personal Property Security Act (PPSA) with its recent issuance of the rates for the fees on the use of the electronic registry mandated to be established under the law. Republic Act (RA) No. 11057 or the PPSA aims to promote economic activity among micro, small and medium enterprises (MSMEs) as well as farmers and fisherfolk by establishing a unified modern legal framework for securing obligations with personal property. It allows MSMEs and small farmers and fisherfolk to offer movable properties as loan security collateral to encourage lenders to extend more
Risk-on sentiments reigned in the local bourse on Thursday following the easing of National Capital Region’s (NCR) pandemic alert to Level 3 starting October 16, while the peso ended sideways against the greenback. After hitting a downward path in the past days, the Philippine Stock Exchange index (PSEi) gained 1.62 percent, or 114.19 points, to 7,183.11 points. All Shares rose by 0.92 percent, or 40.69 points, to 4,443.95 points. Holding Firms led the sectoral counters after it jumped by 2.28 percent and was trailed by the Property, 2 percent; Industrial, 1.80 percent; Services, 0.61 percent; Financials, 0.36 percent; and Mining
Authorities seized PHP40,800 worth of shabu and arrested a high school principal and his brother listed as high-value targets in an operation here early Thursday. In an interview, Philippine Drug Enforcement Agency (PDEA) Pangasinan provincial officer, Rechie Camacho, identified the suspects as Victor Dumlao and Winy Dumlao, high school principal. Operatives of the PDEA Pangasinan and Ilocos regional office in coordination with the Alcala Police Station conducted the buy-bust in Barangay San Nicolas, this town. “We have been monitoring the suspects for quite some time now,” Camacho said. He said they have confiscated from the suspects six grams of shabu
As Metro Manila transitions from Alert Level 4 to Alert Level 3, Department of Trade and Industry (DTI) Secretary Ramon Lopez said more jobs are expected to return in the labor market. “With most of the remaining economic sectors, particularly the service sectors to be reopened in Metro Manila, and at higher operating capacities because also of the de-escalation to Alert Level 3, we expect most of the balance 300,000 displaced workers to be back to work,” Lopez told trade reporters in a Viber message Thursday. The DTI chief, however, said the job numbers are not yet back to pre-pandemic
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Thursday the national government does not need another bridge financing, citing its capacity in handling pandemic-related financing requirements and an untapped provision under Bayanihan 2. In a virtual briefing, Diokno said there is a provision under the Bayanihan to Recover as One Act that authorizes the Department of Finance (DOF) to avail of a bridge financing. “But (that) was not availed of by the Department of Finance,” he said. Diokno said the cash advances the central bank has extended to the national government are in line with the amended BSP Charter.
A total of 52 former rebels (FRs) of the New People’s Army (NPA) have received their new housing units under the government’s Enhanced Comprehensive Local Integration Program (ECLIP), the Army’s 1001st Infantry Brigade (1001Bde) said in a statement Thursday. Capt. Roberto Escalona, the 1001Bde civil-military operations officer, said the turnover ceremony was at the Freedom Residences in Barangay Cuambugan, Tagum City on Tuesday. He said the ECLIP project is in collaboration with the National Housing Authority (NHA) 11 (Davao Region), the 1001Bde, the Army’s 10th Infantry Division, the Tagum City government, the Freedom Residences Homeowners’ Association, and other stakeholders. “The
