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The Cagayan Economic Zone Authority (CEZA), operator of the 54,118-hectare Cagayan Special Economic Zone and Freeport (CSEZFP), has remitted to the National Treasury P240.592 million, representing 50 percentage of its 2016 profits. CEZA public members of the family leader Joyce Marie Calimag stated the 2016 dividend fee is round P6 million greater than the 2015 remittance of P234.296 million which then represented a fifty three-percent growth over the 2014 determine of P152.884 million. Calimag defined that as a government-owned-and-controlled-organization (GOCC), CEZA is needed to remit at least 50 percent of its annual internet income as cash, inventory or property dividends to the country wide authorities based at the revised implementing policies and policies of Republic Act 7656 or the Dividends Law. She stated the remittance to the national treasury is on top of the 30-percentage corporate profits tax it paid to the Bureau of Internal Revenue (BIR) and the taxes paid by CEZA loc...

The EU’s competition authority on Wednesday authorized the blockbuster takeover of Germany’s Opel by using France’s Peugeot PSA with a view to create Europe’s 2d-biggest carmaker after Volkswagen. PSA—which also owns Citroen and DS—agreed in early March to pay a few 1.3 billion euros ($1.Forty six billion) for Opel, a storied German company owned with the aid of US car massive General Motors for many years, as well its British subsidiary Vauxhall. “The European Commission has unconditionally approved the acquisition of Opel by using Peugeot, under the EU Merger Regulation,” the Commission, the EU’s government arm, said in a statement. “The Commission concluded that the transaction could enhance no competition concerns inside the relevant markets,” it said. Despite last a acquainted sight on German roads, the carmaker with the lightning emblem and its British sibling Vauxhall have not booked a income on the grounds that 1999. Based in Ruesselsheim outdoor Frankfurt, the enterprise turn...