World Business Inquiries
Questioning business opportunities in a world that is currently in sharp decline due to the outbreak of the COVID-19 virus. The answer from entrepreneurs and business people is very simple. They answered, all will be beautiful in its time
Tampakan LGU terminates deal with mining firm
The municipality of Tampakan has terminated an agreement that allowed Sagittarius Mining Inc. (SMI) to continue its mining operations in the area, citing “vague” and “disadvantageous” terms in the contract.
The local government unit in South Cotabato issued the resolution last week, wherein it stated that the local government unit (LGU) of Tampakan “is no longer interested to conduct any review/updating of the 2009 municipal principal agreement” with SMI. It is, however, open to entering a new agreement with the company.“Unfortunately, until now, [the agreement] was not updated contrary to its provision that it should be reviewed every four years to cope with the demands and call of present times,” the resolution read.
“After scrutiny, there are provisions … that are considered vague, disadvantageous to inhabitants of Tampakan and which unduly tie the hands of the local government of Tampakan … to protect its people and the environment,” it added.
‘Just a matter of time’ before BSP reserves top $100B
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Gov’t got BSP nod for $5.6B in foreign loans to fund pandemic fight
The central bank has approved a large batch of foreign loans meant to help fund the government’s fight against the coronavirus pandemic, but the regulator was quick to point out that the country’s debt profile remains favorable despite the borrowing spree. In a...