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BusinessWorld
January 12, 2021 | 12:07 am
PETRON CORP. is infusing close to P3 billion to improve its refinery operations in Bataan, after securing approval from the Authority of the Freeport Area of Bataan (AFAB) to register in the province’s freeport area, the firm told the local bourse on Monday.
“As part of its commitment to AFAB, the Company is expecting to undertake in the next five (5) years several capital investments amounting to nearly P3 billion to further improve the efficiency of the integrated operation of its Petron Bataan Refinery,” Petron said in a statement.
In a regulatory filing, the oil company also confirmed that it was able to register as an enterprise of the Freeport Area of Bataan, and this would play a part in improving its financial survival.
BusinessWorld
January 12, 2021 | 12:32 am
By
Reporter
AN ELECTRONICS exporters industry group is asking lawmakers to reconsider the potential cap on investments reviewed by investment promotions agencies (IPA).
Under Senate Bill 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, IPAs like the Philippine Economic Zone Authority will review investment projects valued at P1 billion or lower, while the Fiscal Incentives Review Board (FIRB) approves larger projects.
Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) President Danilo C. Lachica said that the industry group is hoping for a higher threshold for quicker approval processes under the IPAs.
“We will send our inputs to the House of Representatives. Many investments are over the P1-billion cap. Majority will be at or below P5 billion,” he said in a mobile message on Monday.
Despite the pandemic, Makati tax revenues exceeded its 2020 target. The figures registered in November totaled P18,150,510,850.72, a figure 102 percent of its full-year target of almost P17.8 billion, the Manila Times reported.
Mayor Abigail Binay expressed delight over the encouraging development, saying that this offers a positive outlook for 2021.
The report from the city treasurer added that the municipality surpassed by three percent its actual collections during the same period in 2019.
Majority of the collections came from business taxes, reaching P9.5 billion, and real property taxes, at almost P6 billion. Other sources of local revenue include fees and charges (P609.2 million), economic enterprises (P135.1 million), interest income (P233.4 million), and internal revenue allotment (P1.2 billion).
Quezon City ranks first in the list of the most popular real estate locations in Metro Manila, according to the latest trend report from Lamudi
Majority of seekers are interested to rent rather than buy, a similar trend also observed in Makati and Pasig. As cities that host business districts, this reflects the market’s move to find temporary living spaces near places of work amid the pandemic. In contrast, stronger purchase interest is seen in Metro Manila cities outside the CBDs, such as Manila.
In terms of real estate types, houses are the most popular among seekers looking at Quezon City listings. Horizontal developments represent 29.25 percent of the leads.