Day: December 4, 2024

Manila: The Land Transportation Office (LTO) has announced an indefinite suspension on the enforcement of new regulations that would prohibit the use of improvised vehicle plates. The suspension of Memorandum Circulars (MC) VDM-2024-2721 and VDM-2024-2722, intended to address the backlog in license plate production, was confirmed on Wednesday, November 27, through a memorandum circular issued by LTO Chief Assistant Secretary Vigor Mendoza II to all regional directors and officials. According to Philippines News Agency, the implementation of these circulars was initially halted on September 30 to provide vehicle owners more time to secure their official plates. MC VDM-2024-2721 had declared

CALAMBA CITY: The Department of Labor and Employment (DOLE) Cavite Provincial Office, in partnership with 36 companies, has launched an initiative to establish Family Welfare Committees (FWCs) in workplaces across the province. DOLE-Cavite Director Marivic Martinez stated in a phone interview Wednesday that the program, mandated for companies with at least 200 employees, aims to integrate family welfare into workplace policies to improve employee well-being and productivity. Smaller companies are also encouraged to adopt the program. According to Philippines News Agency, the Family Welfare Program (FWP) is a key advocacy of DOLE, designed to enhance workers’ quality of life through

Manila: Philippine economic growth is expected to improve next year backed by public investment spending, Nomura Global Markets Research said. In its Asia Macro Outlook 2025 report released on Wednesday, Nomura said Philippine economic growth is projected to hit 6.0 percent in 2025 from 5.6 percent this year. According to Philippines News Agency, Nomura stated that public investment spending will remain a significant growth engine, as the government advances infrastructure projects, which are a top priority for the Marcos administration. This momentum is expected to gain further traction from the mid-term elections on 12 May 2025. The sustained implementation of

Manila: The Bangko Sentral ng Pilipinas (BSP) has announced that new polymer banknotes, set for release in the first quarter of 2025, will be circulated alongside existing paper banknotes. The BSP confirmed in a statement that “paper banknotes shall remain legal tender,” ensuring that both forms of currency will be used concurrently. According to Philippines News Agency, the BSP revealed through a social media post that the First Philippine Polymer banknote series is scheduled for issuance. The new polymer banknotes boast smarter, cleaner, and stronger features compared to their paper counterparts. While paper banknotes highlight the country’s heroes and natural

Manila: The Department of Energy (DOE) and the Department of Finance (DOF) on Wednesday signed a joint memorandum circular (JMC) that will exempt eligible electric cooperatives (ECs) from local taxes, fees, and charges. According to Philippines News Agency, the new JMC will grant ECs registered with the National Electrification Administration (NEA) or the Cooperative Development Authority local tax exemption upon compliance with financial and operational requirements. DOE Secretary Raphael Lotilla described the tax exemption as a significant milestone for qualified ECs, as it reduces financial burdens, allowing reinvestment into service improvements and achieving total electrification. To qualify for the tax