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Duterte wants to end ‘5-6’ lending scheme

BEIJING – President Duterte is seeking assistance from China and other countries to put an end to “5-6,” a high-interest loan that he said “kills” the entrep.....»»

Category: newsSource: philstar philstarOct 21st, 2016

Gov’t targets Indians in ‘5-6’ lending scheme

MANILA, Philippines – The administration of President Duterte will run after Indian nationals engaged in the “5-6” lending business, Justice Secretary Vitali.....»»

Category: newsSource:  philstarRelated NewsJan 10th, 2017

Duterte wants to end ‘5-6’ lending scheme

BEIJING – President Duterte is seeking assistance from China and other countries to put an end to “5-6,” a high-interest loan that he said “kills” the entrep.....»»

Category: newsSource:  philstarRelated NewsOct 21st, 2016

SSS raises P1.3B via restructuring scheme

Social Security System (SSS) gained P1.31 billion during the first three months of its Loan Restructuring Program, already breaching the target and helping shore up the state-run pension fund's revenue as it struggles to finance the pension hike approved by President Duterte. In a statement, president and chief executive Emmanuel F. Dooc said that from April to June, SSS condoned over P3.35 billion in unpaid loans from 200,960 members. "When we launched the second Loan Restructuring Program in April, we expected to attract 250,000 availees but to our surprise, we've already breached the 200,000-mark in just three months of implementation, and we still have nearly three months to ac...Keep on reading: SSS raises P1.3B via restructuring scheme.....»»

Category: newsSource:  inquirerRelated NewsJul 11th, 2018

Duterte vows to end ‘5 6’ lending practice – Manila Video

Duterte vows to end ‘5 6’ lending practice – Manila Video.....»»

Category: newsSource:  manilainformerRelated NewsJul 11th, 2018

Duterte moves to fast-track military pension scheme

PRESIDENT RODRIGO R. Duterte wants to fast-track the establishment of a new pension scheme for military personnel. The president hopes to establish this scheme within his term. Finance Secretary Carlos G. Dominguez III said that the economic managers, together with officials of the Defense, Interior and Local Government, and Transportation departments met with Mr. Duterte […] The post Duterte moves to fast-track military pension scheme appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJun 20th, 2018

Duterte to MILF: what cannot be included in the BBL, add them via federalism

DAVAO CITY (MindaNews / 17 June) — Reiterating his camapign for federalism, President Rodrigo Duterte on Saturday night urged leaders of the Moro Islamic Liberation Front (MILF) to wait for the passage of the final version of the Bangsamoro Basic Law (BBL) and whatever is not included there can be “added in the federal scheme […].....»»

Category: newsSource:  mindanewsRelated NewsJun 17th, 2018

ADB raises funding for PH

The Asian Development Bank will lend the Philippines a higher $945 million this year mainly for infrastructure projects as part of the Manila-based multilateral lender's commitment to support the Duterte administration's ambitious "Build, Build, Build" infrastructure program. The state planning agency National Economic and Development Authority said that during a meeting between Philippine officials and executives of the ADB's Philippine country office last month, the latter said that their lending pipeline for 2018 consisted of two policy-based loans (worth $600 million), one result-based loan ($300 million) as well as two other projects ($45 million). In December last year, the A...Keep on reading: ADB raises funding for PH.....»»

Category: newsSource:  inquirerRelated NewsJun 12th, 2018

Gabriela activist’s arrest shows intensifying crackdown on people’s movement in Mindanao

Barug Katungod Mindanao condemns the Duterte government’s criminalization of small entrepreneur and woman activist Nerita de Castro and using her as cover up for the military’s losses in the battlefield especially its failure to thwart alleged NPA revolutionary taxation. To impute charges of extortion and murder against de Castro is a vile scheme to associate […].....»»

Category: newsSource:  mindanewsRelated NewsJun 4th, 2018

Name-dropping ‘fixer’ denounced

MALACANANG yesterday accused the husband of a former daughter-in-law of President Rodrigo Duterte of using the name of the chief executive’s granddaughter in a case-fixing scheme. Presidential spokesperson Harry Roque did not name the alleged fixer even as he appealed to the justices, judges and the general public not to….....»»

Category: newsSource:  journalRelated NewsMay 21st, 2018

Duterte to ADB: Keep lending PH money as I clean up gov’t

Quipping that he'd never been in the presence of so much wealth, President Rodrigo Duterte on Saturday asked the Asian Development Bank to continue lending the Philippines money for its development while promising to clean up and improve the government. Speaking at the 51st ADB annual meeting at the EDSA Shangri-la, the President also hailed the financial institution's contribution to the Philippines' economic growth, noting that it was the country's third largest source of official development assistance. ADB's cumulative loans to the Philippines amount to $16.85 billion, while its cumulative grants amount to $82.6 million, for which he is grateful, he said. He also said AD...Keep on reading: Duterte to ADB: Keep lending PH money as I clean up gov’t.....»»

Category: newsSource:  inquirerRelated NewsMay 5th, 2018

Duterte to ADB: Keep lending PH money as I clean up gov& apos;t - Inquirer.net

Duterte to ADB: Keep lending PH money as I clean up gov't - Inquirer.net.....»»

Category: newsSource:  googlenewsRelated NewsMay 5th, 2018

Labor Day demands: Pay hike, more jobs, security of tenure

Thousands of workers and activists marched in a May Day rally in Manila and other cities on Tuesday in protest against what they said was President Rodrigo Duterte's failure to keep a campaign promise to get rid of a labor contractualization scheme. The rallies were peaceful, but the Malacaang complex was locked down, initially denying journalists' access as protesters burned the President's effigy with a sign "Liar King" several hundred meters away. A pledge to act against employers who hire workers for short-term employment without adequate benefits helped Mr. Duterte win the presidency in 2016. Shortly after assuming power, the President warned that businesses would face ...Keep on reading: Labor Day demands: Pay hike, more jobs, security of tenure.....»»

Category: newsSource:  inquirerRelated NewsMay 2nd, 2018

Duterte signs executive order on ‘endo’

CEBU CITY --- President Rodrigo Duterte signed here on Labor Day an executive order (EO) that prohibits illegal labor contracting but still allows some forms of contractualization, a scheme used by employers to avoid regularizing workers. The EO dismayed labor groups and got some members of the business community worried. The President, whose campaign promise was to end contractualization and "endo,'' acknowledged that a more comprehensive action on contractualization had to be done by revisiting the Labor Code, which he described as "outdated." Endo, or end of contract, refers to a contractualization scheme that offers short-term and unprotected temporary work arrangements....Keep on reading: Duterte signs executive order on ‘endo’.....»»

Category: newsSource:  inquirerRelated NewsMay 2nd, 2018

Duterte signs order prohibiting contractualization

PRESIDENT Rodrigo Duterte on Tuesday signed an executive order prohibiting contractualization but called on Congress to provide an “effective and more lasting solution” to the problems resulting from such an employment scheme by “amending the Labor Code.” “[The EO is a] prohibition against illegal contracting and sub-contracting or undertaking to circumvent the workers’ right to [...] The post Duterte signs order prohibiting contractualization appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMay 1st, 2018

[OPINION | NEWSPOINT] The Marcos compromise

It's no secret where Ferdinand Marcos Jr  Bongbong falls more or less in the scheme of things: he represents his family in the reigning Gang of Four, with President Duterte and former Presidents Gloria Arroyo and Joseph Estrada. Duterte himself has acknowledged the collaboration. During the electoral campaign of ........»»

Category: newsSource:  rapplerRelated NewsApr 28th, 2018

Duterte urged to sign Endo EO and free millions of Filipinos from bondage of contractualization

Labor group ALU-TUCP-Nagkaisa is urging President Rodrigo Duterte to fulfill his promise to end the precarious short-term Endo work scheme in the country by signing the Executive Order drafted by labor groups......»»

Category: newsSource:  samarnewsRelated NewsApr 28th, 2018

DTI launches digital lending platform

          To reach more micro, small and medium enterprises (MSMEs), the Department of Trade and Industry (DTI) has announced the creation of a digital lending platform where Filipino entrepreneurs can avail the Pondo para sa Pagbabago at Pag-asesnso (P3) program.   DTI Secretary Ramon Lopez said on Friday that the initiative, which would be done in partnership with FINTQnologies (FINTQ), aims to provide assistance to MSME's in an accessible manner.   "President Rodrigo Duterte always seeks for ways to provide service and assistance to our micro entrepreneurs in the easiest andmost accessible way as possible. That's why DTI ti...Keep on reading: DTI launches digital lending platform.....»»

Category: newsSource:  inquirerRelated NewsApr 27th, 2018

Sans EO on ‘endo,’ Duterte still going after ‘5-5-5’ companies

President Duterte has ordered the Department of Labor and Employment (Dole) to come up with a list of companies engaged in labor-only contracting as part of government efforts to crack down on illegal practices that affect a worker's security of tenure.   The order came a day after Malacaang announced that Mr. Duterte would no longer sign an executive order (EO) ending "endo" (end of contract contractualization scheme), and would rather have Congress amend the law on the practice.   Mr. Duterte's memorandum orders Labor Secretary Silvestre Bello III to submit within 30 days a comprehensive report on the implementation of Dole Department Order (DO) No. 174 on con...Keep on reading: Sans EO on ‘endo,’ Duterte still going after ‘5-5-5’ companies.....»»

Category: newsSource:  inquirerRelated NewsApr 21st, 2018

No EO vs endo

PRESIDENT Rodrigo Duterte will no longer issue an executive order stopping “endo” or end of contract scheme, Malacañang said yesterday. Presidential Spokesperson Harry Roque said the position of the Labor Secretary Silvestre Bello was to leave it to Congress to pass a law instead. Roque said the President would go….....»»

Category: newsSource:  journalRelated NewsApr 19th, 2018

Palace: Expect order on ‘endo’ by May 1

Labor groups could expect a proworker executive order (EO) on contractualization from President Rodrigo Duterte on or before May 1, Labor Day, his spokesperson, Harry Roque, said on Monday. "The President wants it as soon as possible," Roque said. The groups had expected the President to sign the much-awaited directive ending the practice of "endo" at a meeting with them on Monday, but Malacaang canceled the meeting. "Endo," or end of contract, refers to a contractualization scheme that offers short-term and unprotected temporary work arrangements. The draft EO proposed by the labor groups provides that the direct hiring of employees will be the general norm in employment...Keep on reading: Palace: Expect order on ‘endo’ by May 1.....»»

Category: newsSource:  inquirerRelated NewsApr 17th, 2018