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Wednesday, November 22, 2017

Senate Increased Personal Income Tax Exemption To P250,000


The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
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The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.

The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.
The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.
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The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.

The Senate version of the tax schedule to be implemented effective January 1, 2018:
Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000
Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000
Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000
Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million
Over P8 million – P2.41 million plus 35 percent of the excess over P8 million
The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.

Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.
The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.

Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.

Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto.
Source: GMA News
The video above was uploaded January this year. Now, what President Duterte promised during the campaign is now approved by the senate and is ready to be implemented this coming year.  The Senate increased the personal income tax exemption to P250,000, essentially retaining the original proposal of the Department of Finance (DOF) and the House of Representatives under the first package of the tax reform bill.   The Senate ways and means committee initially reduced the personal income tax exemption, with only the first P150,000 annual income exempted from tax, however, Senator Ralph Recto proposed that the exemption be increased to P250,000.  Sponsored Links  The Senate meanwhile has so far retained the P82,000 tax exemptoion for 13th month pay and other bonuses, and the maximum P100,000 additional exemption for up to four dependents. Some 14 senators have submitted their proposed individual amendments to Angara’s committee.  The Senate version of the tax schedule to be implemented effective January 1, 2018: Over 250,000 but not over P400,000 – 20 percent of the excess over P250,000 Over P400,000 but not over P800,000 – P30,000 plus 25 percent of the excess over P400,000 Over 800,000 but not over P2 million – P130,000 plus 30 percent of the excess over P800,000 Over P2 million but not over P8 million – P490,000 plus 32 percent of the excess over P2 million Over P8 million – P2.41 million plus 35 percent of the excess over P8 million  Angara said that such tax scheme, however, will result in a P1-billion revenue loss for the government.  Meanwhile, Angara said the Senate version of the tax reform proposal has exceeded the revenue goal of the DOF. The amended Senate version, he said, would yield P159.5 billion in revenue—a hundred billion more than the previous revenue estimate of P59.9 billion.  The boost in the revenue, Angara said, was significantly sourced from the amendments to the provisions on the expansion of the value-added tax (VAT) base. From the repeal of these  VAT special laws alone, the estimated revenue gained from P14 billion to P45.5 billion.  Another major source of revenue is the doubling of the existing documentary stamp tax rates which will approximately raise P40 billion.  Documentary stamp tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto. Source: GMA News  Advertisement Read More:       ©2017 THOUGHTSKOTO
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Unionbank Foreclosed Properties for Public Auction this November 2017

This November 2017, the UnionBank will conduct a public auction of its foreclosed properties. A total of 185 properties such as residential, commercial and agricultural are for grabs.  The public auctions are to be held on November 25 in the morning.  UnionBank Installment terms are as follows: Downpayment: 10% (minimum) 6 months to pay at zero-interest Interest: 11% per annum (fixed for 15 years) Term: 15 years (maximum) SHOW MONEY  Bidders need to bring Php20,000 show money in the form of cash or manager’s checks (MC) per property to participate in the auction.  For Inquiries, call UnionBank directly through the contact numbers in the flyers/listings which you can download below.

This November 2017, the UnionBank will conduct a public auction of its foreclosed properties. A total of 185 properties such as residential, commercial and agricultural are for grabs.

The public auctions are to be held on November 25 in the morning.

UnionBank Installment terms are as follows:

  • Downpayment: 10% (minimum) 6 months to pay at zero-interest
  • Interest: 11% per annum (fixed for 15 years)
  • Term: 15 years (maximum)
SHOW MONEY

Bidders need to bring Php20,000 show money in the form of cash or manager’s checks (MC) per property to participate in the auction.

For Inquiries, call UnionBank directly through the contact numbers in the flyers/listings which you can download below.
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Luzon Property Sale

274th Special Public Auction
Date: 25 November 2017 Saturday 9:00AM

Venue: 
47th Floor UnionBank Plaza, Meralco Avenue corner Onxy Road, Ortigas Center, Pasig City


Unionbank foreclosed properties in Luzon for public auction on November 25, 2017 (PDF)

You can download the PDF file of property listing to enlarge the image for the information. Contact details are at the bottom of the page.


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Vismin Property Sale

273rd Special Public Auction
Date: 25 November Saturday 9:00AM

Venues:

Cebu City
UBP-CPS Bldg., M. Logarta Ave., Brgy. Subangdaku, Mandaue City, Cebu

Davao City
UBP-Davao Monteverde Branch, 2F Mintrade Bldg., Monteverde Ave. cor. Sales St., Davao City

Unionbank foreclosed properties in VISMIN for public auction on November 25, 2017 (PDF)

You can download the PDF file of property listing to enlarge the image for the information. Contact details are at the bottom of the page.

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Source: Unionbank official website

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Philippines Jumps Up To 4th Place On ASEAN Foreign Direct Investments Ranking


The Philippines has moved up to the upper half of the 10-country Association Southeast Asian Nations (ASEAN) in attracting foreign direct investments (FDI) after settling at the bottom half and in the middle of the pack the previous years. This is a good sign that foreign investors in different neighboring countries are showing confidence in doing business in the country.  The country emerged the fourth largest recipient of FDIs in the region in 2016 with $7.93 billion, preliminary data from ASEAN showed.   This was a two-notch jump after finishing as the sixth largest FDI recipient in 2015. From 2012 to 2014, meanwhile, the country was positioned in the middle of the 10-country bloc.  The amount of FDI the country received, however, still paled in comparison to the top three ASEAN recipients.  Singapore remained the region’s most attractive investment destination last year with total FDI inflow of $53.91 billion, followed by Vietnam and Malaysia at $12.6 billion and $11.33 billion, respectively.  Among the laggards in the region for FDI inflows in 2016 were Brunei Darussalam, Lao PDR and Cambodia.  Overall, an ASEAN Investment Report released yesterday showed FDI flows in ASEAN remained at a high level in 2016 despite a decline to $96.7 billion.  Sponsored Links FDIs from Indonesia and Thailand registered a drastic drop in 2016 to $3.52 billion and $2.55 billion, respectively, from $16.64 billion and $8.03 billion in 2015.  “FDI flows from most ASEAN dialogue partners rose, but a single significant divestment, acquisitions of foreign assets by ASEAN companies in their home countries and large repayments of intra-company loans in one member state contributed to the decline,” the report said.  The report also revealed that cross-border merger and acquisition sales in ASEAN fell 25 percent from $10.3 billion in 2015 to $7.7 billion last year, another contributor to the fall in FDI inflows.  “There were some bright spots. Inflows from a number of major source countries rose, but not enough to overcome the decline,” it said.  FDI flows from the European Union went up 46 percent to $30.5 billion, while those from China rose 44 percent to $9.2 billion.  According to the report, significant FDIs from the Netherlands, Ireland, Luxembourg, Denmark, Spain and France pushed up investment in ASEAN from the EU economies.  Intra-ASEAN investment, also jumped to a record level $24 billion in 2016 which can be considered responsible for a quarter of total FDI flows in the region. Source:Phil Star, ASEAN Investment Report 2017 Advertisement Read More:       ©2017 THOUGHTSKOTO
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The Philippines has moved up to the upper half of the 10-country Association Southeast Asian Nations (ASEAN) in attracting foreign direct investments (FDI) after settling at the bottom half and in the middle of the pack the previous years. This is a good sign that foreign investors in different neighboring countries are showing confidence in doing business in the country.

The country emerged the fourth largest recipient of FDIs in the region in 2016 with $7.93 billion, preliminary data from ASEAN showed.
The Philippines has moved up to the upper half of the 10-country Association Southeast Asian Nations (ASEAN) in attracting foreign direct investments (FDI) after settling at the bottom half and in the middle of the pack the previous years. This is a good sign that foreign investors in different neighboring countries are showing confidence in doing business in the country.  The country emerged the fourth largest recipient of FDIs in the region in 2016 with $7.93 billion, preliminary data from ASEAN showed.   This was a two-notch jump after finishing as the sixth largest FDI recipient in 2015. From 2012 to 2014, meanwhile, the country was positioned in the middle of the 10-country bloc.  The amount of FDI the country received, however, still paled in comparison to the top three ASEAN recipients.  Singapore remained the region’s most attractive investment destination last year with total FDI inflow of $53.91 billion, followed by Vietnam and Malaysia at $12.6 billion and $11.33 billion, respectively.  Among the laggards in the region for FDI inflows in 2016 were Brunei Darussalam, Lao PDR and Cambodia.  Overall, an ASEAN Investment Report released yesterday showed FDI flows in ASEAN remained at a high level in 2016 despite a decline to $96.7 billion.  Sponsored Links FDIs from Indonesia and Thailand registered a drastic drop in 2016 to $3.52 billion and $2.55 billion, respectively, from $16.64 billion and $8.03 billion in 2015.  “FDI flows from most ASEAN dialogue partners rose, but a single significant divestment, acquisitions of foreign assets by ASEAN companies in their home countries and large repayments of intra-company loans in one member state contributed to the decline,” the report said.  The report also revealed that cross-border merger and acquisition sales in ASEAN fell 25 percent from $10.3 billion in 2015 to $7.7 billion last year, another contributor to the fall in FDI inflows.  “There were some bright spots. Inflows from a number of major source countries rose, but not enough to overcome the decline,” it said.  FDI flows from the European Union went up 46 percent to $30.5 billion, while those from China rose 44 percent to $9.2 billion.  According to the report, significant FDIs from the Netherlands, Ireland, Luxembourg, Denmark, Spain and France pushed up investment in ASEAN from the EU economies.  Intra-ASEAN investment, also jumped to a record level $24 billion in 2016 which can be considered responsible for a quarter of total FDI flows in the region. Source:Phil Star, ASEAN Investment Report 2017 Advertisement Read More:       ©2017 THOUGHTSKOTO

This was a two-notch jump after finishing as the sixth largest FDI recipient in 2015. From 2012 to 2014, meanwhile, the country was positioned in the middle of the 10-country bloc.

The amount of FDI the country received, however, still paled in comparison to the top three ASEAN recipients.

Singapore remained the region’s most attractive investment destination last year with total FDI inflow of $53.91 billion, followed by Vietnam and Malaysia at $12.6 billion and $11.33 billion, respectively.

Among the laggards in the region for FDI inflows in 2016 were Brunei Darussalam, Lao PDR and Cambodia.

Overall, an ASEAN Investment Report released yesterday showed FDI flows in ASEAN remained at a high level in 2016 despite a decline to $96.7 billion.
The Philippines has moved up to the upper half of the 10-country Association Southeast Asian Nations (ASEAN) in attracting foreign direct investments (FDI) after settling at the bottom half and in the middle of the pack the previous years. This is a good sign that foreign investors in different neighboring countries are showing confidence in doing business in the country.  The country emerged the fourth largest recipient of FDIs in the region in 2016 with $7.93 billion, preliminary data from ASEAN showed.   This was a two-notch jump after finishing as the sixth largest FDI recipient in 2015. From 2012 to 2014, meanwhile, the country was positioned in the middle of the 10-country bloc.  The amount of FDI the country received, however, still paled in comparison to the top three ASEAN recipients.  Singapore remained the region’s most attractive investment destination last year with total FDI inflow of $53.91 billion, followed by Vietnam and Malaysia at $12.6 billion and $11.33 billion, respectively.  Among the laggards in the region for FDI inflows in 2016 were Brunei Darussalam, Lao PDR and Cambodia.  Overall, an ASEAN Investment Report released yesterday showed FDI flows in ASEAN remained at a high level in 2016 despite a decline to $96.7 billion.  Sponsored Links FDIs from Indonesia and Thailand registered a drastic drop in 2016 to $3.52 billion and $2.55 billion, respectively, from $16.64 billion and $8.03 billion in 2015.  “FDI flows from most ASEAN dialogue partners rose, but a single significant divestment, acquisitions of foreign assets by ASEAN companies in their home countries and large repayments of intra-company loans in one member state contributed to the decline,” the report said.  The report also revealed that cross-border merger and acquisition sales in ASEAN fell 25 percent from $10.3 billion in 2015 to $7.7 billion last year, another contributor to the fall in FDI inflows.  “There were some bright spots. Inflows from a number of major source countries rose, but not enough to overcome the decline,” it said.  FDI flows from the European Union went up 46 percent to $30.5 billion, while those from China rose 44 percent to $9.2 billion.  According to the report, significant FDIs from the Netherlands, Ireland, Luxembourg, Denmark, Spain and France pushed up investment in ASEAN from the EU economies.  Intra-ASEAN investment, also jumped to a record level $24 billion in 2016 which can be considered responsible for a quarter of total FDI flows in the region. Source:Phil Star, ASEAN Investment Report 2017 Advertisement Read More:       ©2017 THOUGHTSKOTO
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FDIs from Indonesia and Thailand registered a drastic drop in 2016 to $3.52 billion and $2.55 billion, respectively, from $16.64 billion and $8.03 billion in 2015.

“FDI flows from most ASEAN dialogue partners rose, but a single significant divestment, acquisitions of foreign assets by ASEAN companies in their home countries and large repayments of intra-company loans in one member state contributed to the decline,” the report said.

The report also revealed that cross-border merger and acquisition sales in ASEAN fell 25 percent from $10.3 billion in 2015 to $7.7 billion last year, another contributor to the fall in FDI inflows.

“There were some bright spots. Inflows from a number of major source countries rose, but not enough to overcome the decline,” it said.

FDI flows from the European Union went up 46 percent to $30.5 billion, while those from China rose 44 percent to $9.2 billion.

According to the report, significant FDIs from the Netherlands, Ireland, Luxembourg, Denmark, Spain and France pushed up investment in ASEAN from the EU economies.

Intra-ASEAN investment, also jumped to a record level $24 billion in 2016 which can be considered responsible for a quarter of total FDI flows in the region.

Source:Phil Star, ASEAN Investment Report 2017
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Is San Marino Country A New Destination of OFWs? But Where In the World is San Marino?

According to BBC country profile, the San Marino is one of the smallest countries in the world in Europe, surrounded by Italy.  It is believed to be the world's oldest surviving republic.  As of the moment record of Philippine Overseas Employment Administration (POEA) says that from 2015, there are only 22 Overseas Filipino Workers (OFW) in this tiny country. The 22 are composed of two new hires while the rest are retired.

According to BBC country profile, the San Marino is one of the smallest countries in the world in Europe, surrounded by Italy.

It is believed to be the world's oldest surviving republic.

As of the moment record of Philippine Overseas Employment Administration (POEA) says that from 2015, there are only 22 Overseas Filipino Workers (OFW) in this tiny country. The 22 are composed of two new hires while the rest are rehired.
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The Republic of San Marino. Photos by Encyclopedia Britannica, Inc.
Every year, the country receives more than three million visitors as tourist dominates the economy.

Just recently the Department of Labor and Employment (DOLE) is looking for the possibilities that San Marino will be new destination of OFWs particularly for the deployment of healthcare professionals.

DOLE Secretary Silvestre Bello III issued an administrative order that mandates the formation of a team of labor officials that will appraise the viability of deploying Filipino healthcare professionals to San Marino.
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The San Marino City. Photo by shuttledirect.com
The assessment team, headed by the Philippine Overseas Employment Administration (POEA) and composed of member institutions coming from the Professional Regulation Commission (PRC), Technical Education and Skills Development Authority (Tesda) and International Labor Affairs Bureau.

It said that after the appraisal, the team will recommend to the labor chief appropriate measures to address identified gaps in Philippine nursing and caregiving training, certification or accreditation to make them competitive and viable.

A draft strategic plan for a viable supply of nursing and caregiving services in San Marino is also expected from the team.

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Seaside town of Riccione, in San Marino. Photo via Pinterest
According to POEA, the Republic of San Marino is a certified compliant country which means, rights of Filipinos migrant workers are being protected. 

Source:The Manila Times

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OFW Awarded As Hero After Saving Saudi Man Trapped In Flood


More rain is expected in Jeddah and its neighboring areas. 

Saudi General Authority of Meteorology & Environmental Protection posted a weather update on its Twitter saying; “Rain will continue in Jeddah while heavy rain is expected in Makkah and Taif,” Some parts of the Kingdom will continue to experience torrential rain. Earlier it resulted in school and universities closure.

Suspension of classes has been announced in Makkah Region for the safety of students.



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The following photos are taken from Arab News.



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On the other hand, all schools in Taif and Jeddah remained closed due to bad weather. It is reported by Saudi Press Agency. Authorities have closed six tunnels in Jeddah that were flooded by waters due to heavy rains.

The weather bureau added that Medinah and Makkah regions will experience rain and thunderstorm. Areas included experiencing bad weather are coastal areas of the region as well as mountains of Jazan, Asir and Baha Regions.

The Civil Defense warned resident to avoid areas that are prone to flooding and avoid going near rivers.
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This video is posted on Facebook by Sarah Bande Itliong. The video is taken in the rescue operation for a Saudi man trapped in his car in the middle of the flooded area. In the post, it said, firefighters refused to save the man but a Filipino came to save him!
OFW Dau Balendo receiving his award. Photo via OFW Ako Inc. Facebook Page


The OFW identified to be Dawod Balendo,  and he was awarded for his heroic deed during the flood when he saved a Saudi National trapped in a flood in Jeddah.

He was 37 years old from Pagadian City and working as a family house driver for a month and a half in Jeddah. He was previously working in Jubail.

He said he was not afraid of death and he deserves no honor because what he did is just his duty toward his fellow human.

In the viral video and elderly Saudi man was trapped inside his car in the middle of a flood in Abruq Al-Righama street in east Jeddah while the crowd simply stood to watch.

 in east Jeddah while a large crowd of people simply stood to watch.

“Some people tried to deter me from swimming to reach the man in distress. They kept shouting that the Civil Defense would soon come to save him but I did not heed their calls,” he said.

When Balindong reached the man, he offered his hands for him to jump in. He took the man in his hands and swam all the way to safety on the dry side of the road.

The Civil Defense even issued a public apology after its two staff in the scene failed to do something to save the man.


Here are some videos of flooding in different areas in Saudi Arabia.





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