Wednesday, May 24, 2017
Text Size


SC orders CA to look into 3 Oil companies’ case

The Supreme Court tasked the Court of Appeals to resolve the case regarding the opening of the audit books of the three big oil companies.

In a one page resolution by the Supreme Court En back, signed by Clerk of Court Enriqueta Vidal, the Highest Court issued the order amid the similar cases filed against the three oil companies at both the SC and CA.

The said resolution aims for both courts to avoid ending up with different decisions.

In line with this, the Supreme Court assigned the Court of Appeals to advise them on any action that they will release regarding the said cases.

The cases stemmed from a petition filed by Atty. Samson Alcantara of the Social Justice Society.

Prior to this, Judge Silvino Pampilo Jr. of the Manila-RTC Branch 26 ordered the opening of the audit books of Shell, Petron and Chevron.  However, Shell made an appeal to the Court of Appeals.

Based on the principle of Judicial Courtesy, the CA refused to decide on the motion of Shell because the same case is pending at the Supreme Court.   (Judie Anne Abejero)


BIR extends receipt deadline

Enterprises will still be able to use their old receipts until the month of August as the Bureau of Internal Revenue decided to suspend the implementation of using new receipts.

The BIR decided to give the necessary extension to business owners in order for them to be able to print new receipts.

In line with this, the BIR explained that the reason for the implementation of new receipts was the constant complains that their agency’s been receiving regarding syndicates selling fake receipts to business owners in order to avoid paying the right taxes.

Previously, the deadline was set until the first day of July, and now the BIR has extended it up to the 31th of August.      (Kisses Jabson)


Peso plummets at its lowest as Unemployment rate goes higher

The Philippine peso sank its lowest level against the dollar yesterday, $1-P43.10

The Banko Central ng Pilipinas said that the reason for the peso plunge was the fact that the dollar is getting stronger, and of the other Asian currencies.

BSP Governor Amando Tetangco Jr. said that we should worry about these kinds of scenarios because the Philippine currency remains to be strong compare to the other Asian countries.

Meanwhile, Malacanang is quick to defend on why there’s an increase in number of unemployed Filipinos.

According to President Benigno Aquino III, the high rate in unemployment, especially in the field of Agriculture was because the planting season was put to a halt.
However, the President mentioned that in spite of the high unemployment rate, there’s an increase in the number of employment in the Service and Industry sectors.

Most of the unemployed are graduates from High School, 31.7 percent; College graduates with 21.3 percent; and College undergraduates, 14.6 percent.   (Rey Sibayan)




French govt subjects PHL under Blacklist

Malacanang is perplexed on the recent move of the French government to subject the Philippines under the blacklist for its failure to be transparent with its use of foreign aid funds.

According to Deputy Presidential Spokesperson Abigail Valte, she and Finance Secretary Cesar Purisima had a talk regarding the said issue and they’re still figuring out the complete details of the report.

Valte said that they were able to find out about the report through media therefore they still don’t know the real reason behind the said move of the French government.

The French government released its list of 17 blacklisted countries, and the Philippines is included in the said list.

Meanwhile, Purisma was surprised about the news because the issue wasn’t even discussed with the government of France.

Aside from this, the Philippines is working together with the French government in different programs and initiatives that are being funded by the Official Development Assistance or ODA.

In line with this, Valte clarified that not all ODA goes through to the government, some ended up with non-government organization units.   (Florante Rosales)


SM tycoon climbs 40th in billionaire’s list


SM chieftain Henry Sy climbed to 40th place as one of the richest billionaire’s in the world this year.

According to Bloomberg’s list, Sy has a total net worth of 17.7 billion dollars, higher compared to his previous April 25, 2013 net worth of 17.1 billion dollars.

Sy owns the SM Investments Corporations, including banks, constructions, schools, residential and hotel properties.

In 2012, Sy was also declared by Forbes as one of the top 40 richest man in the world. (LUISITO ANTONIO SANTOS)



Login Form