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Banks given 120-day leeway to submit audited fin’l report
The Bangko Sentral ng Pilipinas’ policy-making body the Monetary Board has approved a "re-wording" of the old regulation in the submission of banks’ financial audited report, which is now within 120 days from the end of the calendar or fiscal year.
RP may open up grains market in exchange for US garment concession
The Philippines may be forced to open up its market for some imports from the US like soybeans, wheat and rice as US authorities are seeking a trade-off to the Philippines’ proposed preferential trading agreement on the garment sector.
Generic aquaculture packaging developed
The Department of Trade and Industry (DTI) and the Department of Science and Technology (DoST) jointly announced the introduction of the new generic packaging material (with graphic design) made of nylon polyethylene (PA/PE) for fish and other marine and aquaculture products (fresh, processed, dried, smoked) generated by the pilot project of the DTI, DoST, the Philippine Chamber of Commerce and Industry (PCCI) and the Packaging Institute of the Philippines (PIP).
New IPR Code compliant with TRIPs
Intellectual Property Philippines Director-General Adrian S. Cristobal Jr. contends that Senate Bill No. 2139, which seeks to amend the Intellectual Property Code of the Philippines, is compliant to the Agreement on Trade Related Aspects of IPR (TRIPs) of the World Trade Organization.
Simplification of export clearances urged
Private and government representatives to the Export Development Council (EDC) are batting for the simplification and computerization in the granting of export clearances from 22 government agencies hand in hand with the abolition of fees.
90% of OFW remittances now coursed through banks
The Bangko Sentral ng Pilipinas said more and more Filipino migrant workers are remitting their hard-earned foreign exchange through the formal banking channels.
NEWS IN BRIEF
The peso rate closed at P52.39 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P52.456.
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