DA shifts to high-return projects with faster payback periods
In a bid to ensure more efficient use of taxpayer money, Agriculture Secretary Francisco Tiu Laurel Jr. announced the agency's new focus on projects that offer an internal rate of return (IRR) of 12 to 14 percent per year and a payback period of no more than seven years. This approach to budgeting and operations marks a shift towards prioritizing investments that are both bankable and profitable, with non-investment-grade projects to be deprioritized, regardless of their agricultural viability.
Bayad, 7-Eleven team up in real-time bill payments
CIS Bayad Center Inc. has partnered with 7-Eleven in revolutionizing the bill payment experience for millions of Filipinos. The collaboration enables Meralco customers to settle their electricity bills at over 4,000 7-Eleven CLiQQ Kiosks nationwide, with the added benefit of real-time posting via Bayad, eliminating the typical 24-hour delay.
GCash commits to IPO plans amid regulatory challenges
Globe Fintech Innovations Inc. (Mynt), the parent company of GCash, has reaffirmed its commitment to launching an initial public offering (IPO) in the Philippines despite facing regulatory hurdles related to the Philippine Stock Exchange's (PSE) minimum public ownership requirements.
BOC Seizes P39.6 Million Worth of Kush in Balikbayan Boxes from Canada
The Bureau of Customs (BOC) announced the seizure of P39.6 million worth of kush (dried marijuana) concealed in two balikbayan boxes at the Manila International Container Port (MICP). The shipment, arriving from Canada, was flagged by Customs Intelligence and the Philippine Drug Enforcement Agency (PDEA) after receiving a tip last week.
DOTr confirms EDSA Busway will remain, plans improvement with privatization
The Department of Transportation (DOTr) confirmed on Friday that the EDSA Busway will remain dedicated to buses and will not be opened to private vehicles. In a radio interview, DOTr Secretary Jaime Bautista emphasized that the busway, which serves thousands of commuters daily, will not be removed but will undergo improvements through privatization of its operations and management (O&M).
