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MANILA, Philippines — The Securities and Exchange Commission (SEC) has urged both Google and Apple to remove the crypto-currency service app Binance from their respective application marketplaces.
The Philippine Fisheries Development Authority (PFDA) will require a budget of P30.1 billion to finance a four-year upgrade of over a dozen regional and subregional seaports into deep-water ports as part of the Department of Agriculture’s broader vision of transforming these facilities into agri-logistics hubs across the archipelago.
Thailand will restrict access to unauthorized crypto platforms due to concerns of law enforcement effectiveness and money laundering risks.
MANILA, Philippines — The Securities and Exchange Commission (SEC) has set the deadlines for the submission of the annual financial statements (AFS) and general information sheets (GIS) of corporations in 2024.
The Department of Agriculture will pour more investments to agriculture as part of the national government’s support to local farmers and fishermen.
Agriculture Secretary Francisco P. Tiu Laurel, Jr. supports the proposed extension of the Rice Tariffication Law subject to modifications that will ensure optimum impact on modernizing agriculture, enhancing farm productivity and improving rice farmers’ competitiveness and income.
The SEC released a statement yesterday outlining P560 million in fines relating to the illegally-issued Abra Mining [AR suspended] [link] shares that were sold during the basura stock craze of late FY20 and early FY21. The PSE’s suspension of AR’s stock in May 2021 effectively killed that basura stock craze and trapped AR shareholders in the stock for three years with little in the way of information from the SEC, the PSE, or AR itself to guide expectations. The SEC’s statement said that AR illegally issued 169 billion shares of AR across 474 stock certificates, leading to a situation where AR had 258.96 billion shares lodged with the PDTC, but only 72.95 billion shares listed on the PSE. The SEC said that AR’s officers “had or should have had knowledge” of the circumstances of the illegality, and dismissed claims of lack of knowledge as “attributable to their gross negligence in the performance of their duties.” The SEC also revoked AR’s registration statement and certificate to offer and sell securities.
Agriculture Secretary Francisco P. Tiu Laurel, Jr. is confident Philippine tobacco could make the grade for new smoke-free products that could help reverse the decline in local leaf production and boost earnings for millions of Filipino farmers dependent on the high-value crop.