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How does LTG derive income from PNB when PNB hasn’t declared dividends?
I’m not an accountant, this is a massive generalization, and there are a lot of edge cases, but the answer is that the financial statements of subsidiary companies are consolidated at the parent company level......»»
NMP nabs 'Outstanding e-NGAs User Entity Award'
NMP's remarkable use of the Electronic New Government Accounting System (e-NGAs) received recognition for its commitment to transparency and the timely submission of financial statements and other reports for FY 2022, as mandated by the Commission on Audit (COA)......»»
‘No to Marcos ouster, secede in legal way, FPRRD clarifies
AMID his recent statements, former President Rodrigo Duterte clarified that he is not advocating for the removal of his successor, President Ferdinand "Bongbong" Marcos Jr......»»
US judge orders Elon Musk to testify in SEC’s Twitter probe
The US Securities and Exchange Commission is examining whether Elon Musk followed the law when filing the required paperwork about his purchases of Twitter stock, and whether his statements in relation to the deal were misleading.....»»
Uncertainty looms over Davao-Samal Bridge project amid RoW hurdles
The construction of the Samal Island-Davao City Connector (SIDC), also known as the Davao-Samal Bridge project, has faced numerous setbacks due to right-of-way (ROW) acquisition challenges. The project was halted on January 3, 2024, due to issues with landowners near a pier in Lanang at Davao City, leading to delays in the project's implementation. While there have been conflicting statements regarding the project's status, the National Economic and Development Authority-Davao Region (Neda-Davao) aims to complete the detailed engineering plans for the substructure of the west land via dock once the Deed of Transfer Possession in Davao City is released. However, ROW issues continue to persist. Despite these challenges, the project is still considered a priority and is included in the Davao Region Development Plan (DRDP) for 2023–2028. The project is funded through China’s Official Development Assistance with an estimated budget of P23.04 billion, and negotiations with the Philippine government are ongoing with a target completion date in 2027. The uncertainty surrounding the project's timeline remains as ROW hurdles persist, impacting the much-anticipated toll-free four-lane concrete exodus bridge spanning a 3.98-kilometer distance......»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
Write-off, tax-off
Most companies have an enormous balance of accounts receivable in their financial statements......»»
QC prosecutor’s office junks ‘grave threats’ rap vs Duterte
The Quezon City Prosecutor’s Office has dismissed the grave threats case filed by ACT Teachers Rep. France Castro against former President Rodrigo Duterte, saying there was insufficient evidence to prove his intent to harm her. Castro accused Duterte of threatening to kill her based on statements he made during two episodes of his show “Gikan sa Masa,.....»»
Davawenyos confused on both people’s initiative and Polong’s statements
In the “Duterte country” that is Davao City, some residents were lured to a signature campaign distributed in their communities in the past week seeking to amend the Constitution which they thought was part of Duterte’s campaign......»»
DavSam Bridge still at 3% completion rate
NEARLY two years after its groundbreaking, the completion rate of the controversial Samal Island-Davao City Connector (SIDC) project, commonly known as Davao-Samal Bridge, is still at three percent......»»
Awra Briguela shares lessons learned from Poblacion brawl
Awra Briguela opened up about the controversial brawl in Poblacion, Makati after almost a year. .....»»
Sharon Cuneta breaks silence over tiff with ex Gabby Concepcion after ‘Dear Heart’ concert
“Megastar” Sharon Cuneta aired her side over her controversial recent misunderstanding with her ex-husband Gabby Concepcion following their collaboration concert “Dear Heart” in Mall of Asia Arena last October to November......»»
Netizens want Cebu BRT construction to proceed: ‘Ipadayun na’
CEBU CITY, Philippines — The fate of the long controversial Cebu Bus Rapid Transit or Cebu BRT project faces yet another crossroads after local politicians argue over the possible repercussions of its continued construction. The transportation project aims to create a bus express lane within Cebu City, with its first phase in continuous operations for.....»»
Legislated amendment
After so much huffing and puffing against the controversial people’s initiative (PI), the questioned nationwide signature campaign to amend the country’s 1987 Constitution appears blown away to oblivion......»»
Senate issues subpoena vs Quiboloy
The Senate has officially issued a subpoena against controversial preacher and Kingdom of Jesus Christ founder Apollo Quiboloy after his failure to show up to two hearings that aimed to uncover the sexual abuse and forced labor charges against him and his church members......»»
DOH, DOLE deny any hand in Cha-cha signature drive
MANILA, Philippines — Representatives of the Department of Health (DOH) and the Department of Labor and Employment (DOLE) denied that their agencies are involved in the controversial signature campaign to amend the 1987 Constitution. The clarification came after Senator Imee Marcos brought up, during the Senate’s Tuesday hearing, that DOH’s Medical Assistance for Indigent Patients.....»»
VP Sara ready to face ICC charges only before a Filipino court
Vice President Sara Duterte expressed her readiness to confront any allegations against her but insisted that she would only do so in front of a Filipino judge and within the jurisdiction of a Filipino court. In a statement on her Facebook page, she emphasized her refusal to participate in any process that could tarnish the reputation and integrity of the Philippine judiciary system. Duterte adamantly opposed the involvement of foreign entities in the country's legal affairs, citing it as a dishonor to the sacrifices made by Filipino heroes for the nation's freedom. Duterte, who previously served as vice mayor and mayor of Davao City, vehemently denied any involvement in the Davao Death Squad during her terms in office. She expressed dismay over the sudden appearance of a witness against her in the International Criminal Court (ICC) after assuming the vice presidency. Duterte dismissed the accusations and questioned the motives behind the allegations, asserting her capability to accomplish tasks without resorting to unlawful means. In a related development, President Ferdinand Marcos Jr. voiced his refusal to acknowledge the ICC's jurisdiction in the Philippines, considering it a threat to the country's sovereignty. He issued a directive for all government agencies to refrain from cooperating with the ICC, emphasizing the nation's non-recognition of the court's authority. Former senator Antonio Trillanes IV claimed that ICC investigators had gathered substantial evidence against former President Rodrigo Duterte regarding his administration's war on drugs. He anticipated an imminent issuance of an arrest warrant against the former president. Former President Rodrigo Duterte condemned the ICC's decision to initiate a preliminary investigation into the war on drugs, labeling it an insult to the Philippines and challenging the court's jurisdiction within the country. During his presidency, he initiated the withdrawal of the Philippines' membership from the Rome Statute, the treaty that established the ICC. The ICC appeals chamber recently granted a request to resume the investigation into alleged crimes against humanity related to the Philippines' controversial drug campaign, spanning from November 2011 to March 2019. The developments surrounding the ICC's probe into the Philippines' internal affairs have sparked a contentious debate, with key political figures and rights groups expressing divergent views on the matter. The ongoing tensions between the Philippines and the ICC underscore the complex intersection of international law, national sovereignty, and human rights issues......»»
Cebu City councilor warns public about overseas employment scam
CEBU CITY, Philippines – A local legislator raises the alarm on an overseas employment scam after several victims find themselves allegedly embroiled in a web of deceit and exploitation. City Councilor Edgardo Labella II penned a resolution urging the public to exercise extreme caution and vigilance, particularly regarding the tide of illicit activities preying on.....»»
China warns Philippines over explusion of its diplomats amid South China Sea row
Beijing [China], May 11 (ANI): Following the Philippines' call for the expulsion of Beijing's diplomats, China's Ministry of Foreign Affairs warned Manila government and said that "any hasty action" could "potentially harm" the Philippines amid territorial tensions in the South-China Sea, reported by The Manila Times. Lin Jian, spokesman for China's Foreign Ministry, issued the statement after Defence Secretary Gilberto T.....»»
PDEA warns vs. proliferation of Marijuana-flavored vapes
MANILA, Philippines — The Philippine Drug Enforcement Agency (PDEA) has cautioned the public on the proliferation of electronic cigarettes or vape containing marijuana oil. It issued the warning after monitoring an upsurge in the product’s presence nationwide during its recent anti-illegal drugs operations. PDEA also said the item is illegal and it poses health risks......»»