The Philippines once again will host a big international conference to showcase what it has to offer and to satisfy the curiousity of foreigners who are asking why the country is considered the "rising star" and "bright spot in a gloomy global economy" by foreign analysts.
On Monday, the Philippine Deposit Insurance Corp (PDIC) announced that the 39th International Association of Deposit Insurers (IADI) will be held in Makati Shangri-La from June 17-21.
Inspired by the successful hosting of the 45th Annual Meeting of the Asian Development Bank Board of Governors, PDIC said Manila can pull another one before it sets the stage for the Asia Pacific Economic Cooperation Summit in 2015.
The city government of Makati has posted a total of P5.85 billion in revenue collection from local sources from January to March of this year, surpassing its record in the first quarter of 2012 by five percent.
In a report to Mayor Jejomar Erwin S. Binay, City Treasurer Nelia Barlis said the bulk of the collections came from business tax, amounting to P2.88 billion, and real property tax, P2.58 billion. Compared to 2012, business tax collected increased by one percent, while realty tax increased by nine percent from January to March.
“The impressive performance of our Finance team that again yielded an increase in our collections from local sources has assured us of sufficient funds to carry out our programs and projects for the year as planned,” the Binay said.
For the same comparative period, the city’s collection from other local sources also increased; miscellaneous fees and charges increased by five percent from P324.38 million to P341.1 million, while its earnings from economic enterprises jumped 24 percent from P38.82 million to P48.30 million. Earnings from interest income also increased by 38 percent, from P28.82 million to P39.17 million.
The city government is also determined to fast-track the construction of the new 300-bed tertiary hospital in the first district to augment the present 264-bed Ospital ng Makati in the second district.
Makati’s income from local sources has consistently topped that of other cities in Metro Manila, with the bulk of collections comprised by business and realty taxes.
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