LISTED Megaworld Corp. said its board appointed Lourdes T. Gutierrez-Alfonso as the company’s new president following a special meeting on Tuesday as the property developer positions for future growth.The 61-year old Ms. Alfonso replaced tycoon Andrew L. Tan, who will remain as chairman of the

By Almira Louise S. MartinezPHILIPPINE COFFEE company Varacco is helping local farmers use technology to boost output amid problems posed by climate change, aging farmers and outdated farming technologies.“We are using the Internet of Things (IoT) technology to increase coffee production and biofertilizer,” Varacco Chief

BW FILE PHOTOSECURITY BANK Corp. may soon launch a bond offering after it doubled the size of its peso fundraising program to P200 billion, it said on Tuesday.“Please be informed that Security Bank, through its Executive Committee, as delegated by the Board of Directors, approved

FREEPIKConsider the news in recent days.Just last week, the Maritime Industry Authority (Marina) confirmed a cyberattack compromising four of its web-based systems, which handle vessel registrations and seafarers’ documents.This month, as well, a major data breach at Maxicare Philippines, attributed to the hacker “OPCODE-90,” exposed

THE SECURITIES and Exchange Commission (SEC) has issued cease-and-desist orders against six financing and lending companies for failing to comply with government requirements.The orders were issued under Republic Act No. 11765, also known as the Financial Consumer Protection Act, the SEC said in a statement

PHILIPPINE STAR/EDD GUMBANTHE Department of Agriculture (DA) said it will propose to raise rice import tariffs once the price of the staple grain falls to about P42-45 per kilogram, according to the Agriculture Secretary Francisco P. Tiu Laurel, Jr. on Tuesday.“The review will suffice to

PHOTO COURTESY OF ICTSITHE Philippine Ports Authority (PPA) said late Monday that port fees remain a minor component of logistics expenses, and an increase in the charges cannot be blamed for any “blow up” in logistics costs.“Storage fees at ports remain low… with taxes and

THE Bureau of Internal Revenue (BIR) said in new guidelines that it will require only minimal verification of value-added tax (VAT) refund claims classified as low risk. In a memorandum order, the BIR said: “Processing of VAT refund claims classified as low risk shall be limited

THE Clark International Airport Corp. (CIAC) said on Tuesday that it has entered into a technical assistance agreement with Singapore companies specializing in agricultural financing, sourcing and procurement to assist in setting up the proposed National Food Hub. In a statement, the CIAC identified the companies

THE Philippine Coconut Authority (PCA) said it expects demand for coconut products to be stimulated by its use in biodiesel blends and as a possible component in aviation fuel. “With our projections and when we also talked with market stakeholders, they’re positive there will be an

INTERNATIONAL RICE RESEARCH INSTITUTETHE Department of Agriculture (DA) said that it is planning to develop solar-powered rice dryers in partnership with the Korea Agricultural Machinery Industry Cooperative (KAMICO).In a statement on Tuesday, the DA said that solar dryers could fill the gaps in the National

LEGISLATORS need to review the use of government funds supporting the development of the rice industry in light of its weak productivity growth, a Congressional think tank said. “The numbers suggest that the (Rice Tariffication Law) has, thus far, not shifted the growth trajectory of the