More news about how the COVID-19 pandemic in the Philippines is being handled by the public and the government.
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| https://business.inquirer.net/479575/family-run-ph-firms-face-transition-amid-multiple-crises |
Family-run businesses in the Philippines are in the midst of a transition, with the reins of power being passed on to the younger generation at a time of great challenges.
According to the 2024 Philippine CEO Survey conducted by professional services firm PricewaterhouseCoopers (PwC) and the Management Association of the Philippines, the next few years will be “critical” for most family-run companies as the transfer of power is happening “when the world is continuously challenged by healthcare crises, rapid technological changes, climate change, and geopolitical issues.”
The joint annual study was based on the responses of 168 chief executive officers surveyed from July to August this year.
Two of every five CEOs who took part in the survey came from family businesses, with the majority currently led by the first and second generations.
Sought for comment, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael Ricafort told the Inquirer that effective succession planning would be key to the continuing success of family-run firms.
“Controlling shareholders would still have a say in the designation of CEOs, including family businesses, though the preferred approach is choosing the most qualified, from family members or professional nonfamily members,” Ricafort said, citing this practice as a part of good corporate governance and global best practices.
The report also said that for both family and nonfamily organizations, proper systems and structures should be in place to ensure that their businesses can withstand another pandemic, as well as global and domestic economic crises.“If there’s anything positive that came out of the COVID-19 pandemic, it’s that business leaders became smarter, wiser, and more humble,” the report read.
“Through the pandemic, business leaders learned to make quick decisions without sacrificing their long- term goals, manage their assets efficiently, adapt to technology, and maximize and invest in human capital,” it added.
But not to worry because they learned many lessons during the pandemic and became smarter, wiser, and more humble. They will be fine.
A new proposed business law aims to reimagine the future of work in the Philippines.
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| https://tribune.net.ph/2024/09/13/wfh-flexibility-extended-create-more-at-work |
The workplace landscape is changing once again, thanks to the recent congressional approval of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Bill.
This bill, touted as a top priority by the Legislative–Executive Development Advisory Council (LEDAC), is set to redefine how businesses operate in the Philippines, particularly in the realm of work-from-home (WFH) arrangements.
As part of the key amendments under CREATE MORE, registered business enterprises (RBEs) may now be allowed up to 50 percent work-from-home arrangements, subject to the rules and regulations of their respective investment promotions agency (IPA).
This provision, tucked within Section 26 of the Senate’s version of the bill, not only offers companies greater flexibility but also reflects a broader shift in workplace norms that have been evolving since the pandemic began.
With hybrid work models becoming increasingly popular worldwide, this move is expected to attract more foreign direct investments, boost job generation and improve living standards, according to Senate Ways and Means Committee Chair Sherwin Gatchalian.
The flexibility to maintain a partial WFH setup will also have a significant impact on the IT-Business Process Management (IT-BPM) sector, which has been a major driver of the country’s economy.
Colliers, a leading real estate advisory firm, notes that this development is poised to affect the office market dynamics significantly.
Businesses that have downsized their office spaces or shifted to more flexible work arrangements during the pandemic might need to recalibrate their real estate strategies in the coming months.
Firms that have applied for the PEZA–BOI (Philippine Economic Zone Authority–Board of Investments) paper transfer in 2023 may need to reassess their office requirements to comply with the new rules, which could mean a partial return to physical offices.
Beyond the WFH provision, CREATE MORE introduces a suite of tax incentives aimed at making the Philippines a more attractive destination for businesses.
One of the major changes includes a reduction of corporate income tax from 25 percent to 20 percent for both domestic and foreign companies, a move expected to lure more investors looking for favorable tax regimes.
Additionally, RBEs with capital stock over P20 billion will enjoy a zero-rated value-added tax (VAT) on local purchases, VAT exemption on imports and duty exemptions on imports of capital equipment, raw materials, spare parts and accessories.
Export-oriented RBEs stand to gain even more, with VAT zero-rating extended to essential services like janitorial, security, financial consultancy, marketing and human resources.
These changes are designed to simplify tax processes and reduce operational costs, which are crucial factors for businesses deciding where to set up shop.
House Ways and Means Committee Chair Joey Salceda emphasized that the bill builds on the progress achieved by the Create Act and responds to emerging developments in the global economy.
By providing clearer guidelines on tax exemptions, zero-rating and WFH arrangements, Create More aims to offer investors greater regulatory stability and transparency — key components that make a country an appealing business destination.
As the country awaits the President’s approval of the bill, companies are already bracing for the impact. For some, this means a return to office life, albeit in a limited capacity, while others may continue to capitalize on the flexible work arrangements that have defined the past few years.
CREATE MORE is not just about tax incentives or corporate adjustments; it’s about reimagining the future of work in the Philippines.
By allowing up to 50 percent of employees to work from home, the bill acknowledges the evolving needs of modern businesses and workers alike, setting the stage for a more flexible, resilient and competitive economic landscape.
With many working from home and offices downsizing it would appear the future is now.
Singer David Archuleta has returned to the Philippines after six years due to the pandemic.
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| https://www.gmanetwork.com/news/lifestyle/hobbiesandactivities/920193/david-archuleta-thrilled-to-be-back-in-the-philippines-i-feel-part-of-everyone-here/story/ |
David Archuleta is back in the Philippines after six years, and he couldn't be happier.
The American singer, who shot to fame after competing in "American Idol" in 2008, visited "Unang Hirit" on Thursday ahead of his concert this weekend.
"I've been waiting six long years to come back, there's the whole pandemic and everything that happened," he said.
"I missed the Pinoys, the people, the culture, the food," he added.
David said that Filipinos are great at making people feel at home and welcome.
"When I come here, not only are they big fans of 'American Idol,' the songs I release," he said. "I feel like we act the same."
"I see myself so much in the Filipino culture, and I'm like, oh my gosh, am I Filipino?" he joked with a laugh. "Everyone thought so. I just feel so a part of everyone here, and they're a part of my life now."
He also plans on making the most out of his stay — he said he was looking forward to eating mangoes, sisig, pancit, bangus, and adobo.
David will hold his show, the "Playback Presents: The Best of David Archuleta Live in Manila," at the New Frontier Theater on September 14.
In "American Idol" Season 7, he finished as the runner-up. He is known for hits like "Crush" and "A Little Too Not Over You."
He previously visited the Philippines in 2018 for a fundraising concert. He also came to the Philippines in 2012 to film a series.
He could have come back as early as 2021 but perhaps he was busy.
The DOH has received billions more to pay out the health emergency allowance of eligible medical workers.
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| https://news.abs-cbn.com/news/2024/7/8/doh-receives-sub-allotment-release-order-for-p27-4-billion-funding-for-hea-1731 |
The Department of Health has received the sub-allotment release order for the P27.4 billion funding to settle the remaining arrears in the Health Emergency Allowance of eligible medical workers, who served during the emergency phase of the COVID-19 pandemic.
DOH Secretary Teodoro Herbosa told the House Committee on Appropriations on Monday that the agency expects the notice of cash allocation (NCA) to be issued by the Department of Budget and Management within the week.
The NCA is a cash authority issued by the DBM to central, regional and provincial offices and operating units to cover the cash requirements of agencies.
"On Friday, the Department of Health received the sub-allotment release order for P27.4-billion, which is the last tranche for the Health Emergency Allowance that the government has promised to our healthcare workers. This will be going to our healthcare workers in both the private sector outside Metro Manila and the local government hospitals," Herbosa explained.
"We are still awaiting notice of cash allocation. Maybe this week they will issue the NCA. And we will immediately sub-allot this to the regional offices of the DOH. The regional offices have the claims of all the local hospitals and the private hospitals… We will just wait for cash, and then those will be distributed," he added.
The HEA is provided for under Republic Act 11712 or the Public Health Emergency Benefits and Allowances for Health Care Workers Act, which entitles healthcare workers to receive allowance for every month of service during public health emergencies, like the COVID pandemic.
Under the law, those deployed in "low risk areas" shall be given at least P3,000, at least P6,000 for those in "medium risk areas", and at least P9,000 for those in "high risk areas".
The DOH said the P27.4 billion is the last tranche that will complete the payments for the total over P103 billion HEA obligations during the COVID-19 pandemic.
The DOH says these last billions will complete the payments which have been owed for four years.
COVID-19 is long over though the effects are still being felt. However, it could be a new pandemic is on the way.
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| https://newsinfo.inquirer.net/1983682/mpox-cases-in-ph-now-at-18-doh |
Three new cases of mpox (formerly known as monkeypox) were recorded in the country, bringing the count to 18, Department of Health (DOH) chief Teodoro Herbosa said on Monday.
(As of August 18, there are 18 confirmed mpox cases.)
Five cases have recovered while 11 cases are still undergoing home isolation and have not transmitted the virus to others, the DOH said.
(What’s good is, that all the 18 cases we picked up have not yet spread the virus to others.)
(They have no epidemiological link.)No deaths have been reported due to mpox so far.
But then again, maybe not.
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