BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 141
Market Indicators AS OF 6:00 PM MAY 29, 2020 (FRIDAY)
FOREX US$1 = P 50.610
8
PHISIX 5,838.84
X X Briefly
cents
268.62 points
2Go ferries OFWs
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Business groups are calling for the immediate passage of Corporate Recover y and Tax Incentives for Enter pr ises Act (CREATE), the enhanced version of the Corporate Income Tax and Incentives Reform Act (CITIRA), but also batted for longer sunset period in the availment of incentives, especially for locators in the economic zones in the country. Philippine Chamber of Commerce and Industr y (PCCI) President Ambassador Benedicto V. Yujuico said the enhanced tax incentives under the CREATE Bill will boost the recovery of firms reeling from the economic slowdown. PCCI is the largest umbrella of business organizations in the country representing an estimated 30,000 large, medium, small and micro-enterprises (MSMEs) nationwide. While the CREATE bill also gained the support of big businesses based in the country’s premier financial center, the Makati Business Club has called for longer sunset provisions before shifting to the new corporate income taxation regime.
P15.00
MinDA seeks US aid for M’danao power sector Monday|June 1, 2020
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By CARMELITO Q. FRANCISCO, Correspondent
T
HE Mindanao De velopment Authority (MinDA) has sought the help of the United States government for evaluating the impact of the quarantine protocols on the power industry in Mindanao.
SHIPPING and logistics company, 2GO Group Inc. has increased its passenger service operations to support government’s directive to speed up the homecoming of over 24,000 overseas Filipino workers (OFWs) stranded in Metro Manila due to the COVID-19 pandemic. The group, which operates the Philippines’ largest integrated supply chain, said it is “ready, willing, and capable”’ of safely transporting the locally stranded OFWs and other individuals to the Visayas and Mindanao regions. In fact, 2GO has been supporting the Balik Probinsiya program of the government since it started. Last May 24, two of its vessels — the M/V St. Therese of Child Jesus and the M/V St. Leo the Great — left Manila with 1000 repatriated Filipinos on board who were finally on their way home after being held up in the capital while undergoing the mandatory 14-day quarantine since April. 2GO’s fleet of passenger ships has made numerous hassle-free trips between Manila to its 12 service ports in Visayas and Mindanao ranging from Bacolod down to Zamboanga.
CREATE bill
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MinDA Deputy Executive Director Romeo M. Montenegro said Secretary Emmanuel F. Piñol, MinDA
chair, has submitte d a proposal to the United States Agency for International POWER/PAGE 11
Misor village chairman readies isolation unit for returning OFW By GERRY LEE GORIT, Reporter
DRIED FISH. A woman sells dried fish along the Jasaan road which fetches her a considerable income amid the Covid-19 pandemic. A kilo of dried fish is sold at P50 per kilo. photo by gerry lee gorit
CDO okays extension of tax payment to June 25
A BARANGAY chairman in Misamis Oriental said the isolation unit is ready for use by a returning overseas
Filipino worker (OFW) after a post on social media generated controversy. READIES/PAGE 11
By CRIS DIAZ, Executive Editor
THE Cagayan de Oro City Council here enacted an ordinance extending the payment of taxes, fees and charges for the second quarter on
June 25, 2020. In the ordinance, the local legislative body amended Ordinance EXTENSION/PAGE 11
ADB OKs $400-M loan to back capital market dev’t THE Asian Development Bank (ADB) has approved a $400-million policybased loan to support the Philippine government’s efforts to strengthen
domestic capital markets and reach its development goals of high, sustained COASTAL FISHING. A resident goes fishing in the coastal waters of economic growth, and poverty Panguil Bay in Brgy. Pacita in Lala, Lanao del Norte. CAPITAL/PAGE 11 mindanews photo by richel v . umel
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