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Finance International Nation Transport Travel

Junket 101: Cayetano Overstays In US

This is where our taxes go. The Secretary Alan Peter Cayetano of the Department of Foreign Affairs (DFA) is taking his own sweet time in the United States of America as he extends his visit there to a month. Cayetano arrived in the US few days before the formal opening of the 72nd session of the UN General Assembly last September 19, 2017, which is described as the biggest annual gathering of world leaders. The DFA secretary represented the country in the said event since President Rodrigo...

Finance Local government Politics

Cooking Show In The DOJ

What we have here is a strange and curious case of P1,000.00 suddenly went missing. During the deliberation in the Senate yesterday of the proposed 17.43 billion budget of the Department of Justice (DOJ), some senators were aghast when they discovered about the missing P1,000.00 bill from the original amount of P50 million recovered from the two former deputy commissioners of the Bureau of Immigration (BI). Senate Minority Leader Franklin Drilon asked Justice Secretary Vitaliano Aguirre about...

Finance Labor Local government Nation People Politics

DBM Wants The Performance-Based Bonus For Government Employees Removed

During the plenary deliberations of the proposed P3.8 trillion national budget for 2018 yesterday, it was disclosed that the Department of Budget and Management (DBM) wants to remove the performance-based bonus (PBB) being received yearly by the employees of the government. The disclosure was made by Davao City Rep. Karlo Nograles, chairman of the House committee on appropriations, who sponsored the budget proposal of the DBM. The PBB is an additional, result-based incentive given to State...

Finance Politics

House committee OKs proposal to amend BSP charter

The Committee on Banks and Financial Intermediaries in the House of Representatives has passed the proposal to amend the charter of the Bangko Sentral ng Pilipinas. Committee Chairman Ben Evardone said the amendments seek to reinforce corporate and financial viability while strengthening BSP’s monetary and financial stability functions. “The body decided to grant BSP additional capitalization of P150 Billion, restore tax exemption, among others,” Evardone said. Moreover...