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Day: July 24, 2024

DMW firms up OFW protection; forges more bilateral pacts

MANILA: The Department of Migrant Workers (DMW) is firming up its policies to strengthen the protection of overseas Filipino workers (OFWs) as it forged more bilateral agreements with countries of destination. During the Post-SONA (State of the Nation Address) discussion with the Education and Workers Welfare Development sector in Pasay City on Wednesday, Migrant Workers Secretary Hans Leo Cacdac said DMW has made important strides in terms of the country’s bilateral relations. Since his first SONA, Cacdac said the president has always been clear about his position to protect all OFWs. Thus, the department has embarked on a series of

SC URGES CONSISTENT HIGH-QUALITY AUDITS FOR PUBLIC INTEREST ENTITIES

KUALA LUMPUR, The Securities Commission Malaysia (SC) has urged audit firms to intensify efforts to achieve consistent performance across all public interest entities (PIEs) audit engagements. In a statement, the SC emphasised the importance of talent development and addressing staff workload concerns to maintain high-quality audits. “With audit quality being a shared responsibility, the Audit Oversight Board (AOB) continues to work with key stakeholders to drive improvements in the financial reporting ecosystem,” the SC said. The AOB’s Annual Inspection Report 2023 noted a slight improvement in auditors’ performance based on the year’s inspection results. The report highlighted a decrease in

GCF OKs project to empower PH green entrepreneurs

MANILA: The Green Climate Fund (GCF) Board approved USD1 billion worth of climate adaptation and mitigation projects, including a project that will empower Philippine green entrepreneurs to promote climate-resilient development. In a statement in Wednesday, the Department of Finance (DOF) said the approval was made during the Board’s 39th meeting in Incheon, Korea held from July 13 to 18, 2024. The GCF is the largest global fund created to support climate change mitigation and adaptation projects and programs in developing countries. DOF Chief-of-Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco serves as the GCF Alternate Board Member under the Asia-Pacific Group

MITI REVIEWING COUNTERVAILING AND ANTI-DUMPING DUTIES ACT 1993

KUALA LUMPUR, The Ministry of Investment, Trade and Industry (MITI) is in the process of reviewing the Countervailing and Anti-Dumping Duties Act 1993 (Act 504), said Deputy Minister Liew Chin Tong. He said the amendment to Act 504 is expected to be tabled in Parliament in January 2025. In the meantime, he said the government supports the measures to protect small and medium enterprises (SMEs) from the effects of unfair trade following the influx of cheap imported goods in large quantities, including from China through the enforcement of trade remedies. Among the remedial measures taken are the imposition of anti-dumping

NCR under state of calamity due to massive floods, heavy rains

MANILA: The National Capital Region (NCR) was placed under a state of calamity on Wednesday due to the continuous heavy rains and massive flooding caused by the Typhoon Carina-enhanced southwest monsoon. The Metro Manila Council (MMC) – consisting of the 17 mayors in the NCR and led by Department of the Interior and Local Government (DILG) Secretary Benhur Abalos and Metropolitan Manila Development Authority (MMDA) acting chair Don Artes – agreed on the decision during a meeting at the MMDA headquarters in Pasig City. Twelve mayors from the cities of Caloocan, Pasay, Pateros, Muntinlupa, Mandaluyong, Quezon, Makati, Navotas, Taguig, Pasig,