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Archive

June 30, 2015

It is plainly to our disadvantage as a nation that we are apathetic about cooperatives. In its latest Philippine Economic Update, the World Bank expressed confidence that sustaining the Philippines’ high level of growth and making it inclusive over the long term will enable the country to eradicate poverty and boost shared prosperity within a generation. In spite of this, it still seems like... Read More

June 25, 2015

(First of 3 parts) Before Congress went into recess about two weeks ago, the Senate and the House of Representatives ratified the bicameral conference committee version of a new antitrust law, to be officially known as the Philippine Competition Act (PCA), for the country.   The bill is expected to be signed by President Aquino before his State of the Nation Address (Sona) in July... Read More

June 17, 2015

A new government agency, headed by a Chairperson of Cabinet rank with security of tenure, may be in the offing. If the Philippine Competition Act is signed into law, an influential and potentially powerful Philippine Competition Commission (PCC) will be created, with the mandate to implement “the national competition policy [to] attain the objectives and purposes of the act.”   Just... Read More

June 15, 2015

On April 15, 2015, the Department of Finance issued Order No. 054-2015 (DO), prescribing a fit-and-proper rule for independent directors of publicly listed and insurance companies. The DO sets an ideal term limit for independent directors, based on the “5-2-5” rule. This rule provides for a term limit of five years, followed by a cooling period of two years, and a final term of another five... Read More

June 09, 2015

The contribution of micro-, small and medium enterprises (MSMEs) to our economy cannot be gainsaid. In the 2014-2015 Global Competitiveness Report of the World Economic Forum, we ranked 52 out of the 144 countries surveyed. Although we are behind our ASEAN neighbors Singapore (2), Malaysia (20), Thailand (31), and Indonesia (34), the study took note that the Philippines’ “gain of 33 places since... Read More