News

PAGCOR says POGOs here to stay with vow to “nurture” industry’s growth

Philippines gaming regulator PAGCOR has rejected calls to abolish the Philippine Offshore Gaming Operators (POGO) industry, promising to nurture its growth instead. The agency issued an official statement on Tuesday evening in response to claims made during a Senate hearing on Monday that it had failed to take adequate action against delinquent POGOs. The hearing also saw PAGCOR...

Read more

Lotilla backs 100% foreign ownership in renewable energy projects

Energy Secretary Raphael Lotilla welcomed the Department of Justice (DOJ) opinion that relaxes foreign ownership restrictions in renewable energy sector. DOJ has opined that exploration, development, and utilization of inexhaustible RE sources are not subject to the 60:40 foreign equity limitation as provided under Section 2, Article XII of the Constitution. The DOJ also noted that the &ldqu...

Read more