Showing posts with label Investment in the Philippines. Show all posts
Showing posts with label Investment in the Philippines. Show all posts

Saturday, August 26, 2017

FINALLY: LTFRB asks UBER to pay discounted ₱190 Million to lift the remaining 2 weeks Suspension

Makisig Bayani
UBER System Inc., Philippines
Drivers and operators of UBER System Inc., gather and meet outside its main office in Mandaluyong City, August 15 2017, a day after the Land Transportation and Franchising and Regulatory Board suspended its accreditation and operation. Photo: Manila Bulletin 

The LTFRB late Friday night (25th August 2017) announced granting Uber’s appeal to lift the one-month suspension and pay instead a fine to make up for repeatedly violating the regulatory body’s order not to accept new drivers.

Rejecting the suggestion of the Kilusan sa Pagbabago ng Industriya ng Transportasyon (KAPIT) chairman Vigor Mendoza II that UBER should pay ₱6 Billion pesos, LTFRB finally decided a discounted amount that UBER should pay to lift the remaining 2 weeks of suspension.

“The Board thus rule to grant the prayer of respondent (Uber) to lift the suspension imposed in its order of 14 August 2017; in lieu thereof, imposes a fine of ₱190 million Philippine pesos,” the order, signed August 25, 2017, read.

In addition to the fine, Uber was told to remit ₱20 million as assistance to its 36,367 transport vehicle network service (TNVS) operators who were active in the last 28 days before the suspension order was issued. The ride-sharing company should show the LTFRB a certification from its depository bank as proof of its compliance.

 “The lifting of suspension will depend on the payment of fine and remittance of financial assistance,” LTFRB spokesperson Aileen Lizada told reporters in a text message..

Lizada said the ₱190 million fines was based on the average ₱7-10 million Uber earns from its 150,000 ridership per day, multiplied by the remaining days of suspension which was supposed to be effective until  September 14, 2017.

After facing off with LTFRB officials in a dialogue at the Senate, Uber on August 17, 2017 filed an appeal to the LTFRB to revoke its suspension, proposing that it pays a fine of greater amount than the ₱5 million earlier imposed on it for continuing to accept and activate TNVS operators under its platform despite the July 26, 2016 moratorium.

The regulator halted Uber’s operations for a month from Aug. 14, 2017 for disregarding a directive to stop accepting new driver applications.

Uber, which said it did not process those applications, later told the LTFRB it could pay a fine of ₱10 million Philippine pesos to get the suspension lifted.

The Uber freeze has attracted public attention because many Philippine commuters regard the ride hailing app as more reliable and competitive than mainstream transport services (TAXIs).

Grab, Uber and U-hop Philippines Group

Uber recently said it had nearly 67,000 Philippine drivers.

The dispute with the Philippine regulator is the latest setback this year to Uber (USA based firm), a firm valued at more than $60 billion US Dollars.

Its Philippines suspension caused a spike in demand for rival Grab, and long queues near offices and malls and some disgruntlement about reverting to using regular taxis.

Philippine Senator Grace Poe, a prominent advocate for improving transport services, tried to bring Uber and LTFRB officials together to work out a compromise. An executive of Uber apologized for its "misunderstanding".

Poe on Friday said the hefty fine should "make Uber rethink its actions and re-evaluate its strategy in testing the extent of government regulations."

The LTFRB last year suspended applications for ride-share operators, to work out how best to regulate the industry. It said Uber was "irresponsible" for challenging that order.

Cheap Samsung Galaxy S8 plus, Philippines

Friday, February 24, 2017

1 BTC - USD Hits 1,120 and Continue Rising for the coming USA SEC ETF Decision March 11

Makisig Bayani
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Bitcoin hit 1,120 USD. Source: Blockchain

Friday, February 24, 2017 11:30 PM UTC +8GMT

BTC/USD hit an all-time high of 1220 level on Friday and is currently trading at 1209 levels at the time of writing (Bitstamp).

Philippine Peso - BTC Exchange rates : ₱60,277.64

Coins.ph exchange rate:  Buy: ₱60,737 PHP | Sell: ₱58,875 PHP

Buybitcoin  rate:  Buy: ₱61,581 PHP | Sell: ₱58,529 PHP

The recent upswing is possibly being driven by the upcoming decision on bitcoin ETF by the US Securities and Exchange Commission (SEC). Traders seem to be largely bullish on the bitcoin ETF getting the approval, CoinDesk reported. The SEC has until March 11,2017 to approve or disapprove the ETF.

According to Bloomberg, President Trump’s policy uncertainties might be the reason behind the recent rally. It explains that investors are looking to hedge against potential global uncertainty in the wake of President Trump’s policies and are speculating relaxation of digital currency regulations under his leadership.

On the upside, the pair will now run into resistance at 1245 (127.2% retracement of 1139.89 and 751.34) and a break above would see it testing 1280 (113% extension of 751.34 and 12.20)/1347.

Momentum studies remain bullish. Any dips could be taken as an opportunity to go long. However, caution is advised as RSI and stochs are in the overbought zone.

On the flipside, support is seen at 1200 (psychological) any violation would drag it to 1140 (trend line joining 941.81 and 1074.69)/ 1115 (5-DMA). A break below 5-DMA could see further weakness in the pair.



DO YOU WANT TO START EARNING BITCOIN WITHOUT SPENDING EVEN A CENT? 
   
STEP 1: 


FOR PHILIPPINE CUSTOMERS (INCLUDING OFW ABROAD): 
You must download the Coins.ph App below and register. This app would serve as your wallet to store your collected bitcoins.

FOR OUTSIDE PHILIPPINE CUSTOMERS OR FOR NON-FILIPINO CUSTOMERS
You must have a bitcoin wallet and bitcoin address through blockhain or at  Coinbase.com  You may download the Coinbase.com App below to begin.


STEP 2: 
FOR Coins.ph Follow the steps 1 to 3 to get the Bitcoin address and save this as you need this address.

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In order for you to have a new Bitcoin address using the Coins.ph , You must follow the 3 steps above as shown in the screen captured photo. 3DkAZ2o2pypqs7KgZq5LbtEQEhgovg9iy8 is a sample of a bitcoin address.

Note: Coins.ph would ask you to download aswell the Google Authenticator as the second security verification to make sure that you are the owner logging into the account. Every time that the Coins.ph app would ask for verification, you must open the Google Authenticator as it would display a new code. Such code would change everytime you make a new transaction.

FOR  Coinbase.com if you could not find the button that would provide a new bitcoin address then proceed to  blockhain, register and get your new Bitcoin address.


STEP 3: 

With your bitcoin in your wallet, now you could start trading  at live trading platform by joining the fast and easy simpleFX Bitcoin trading platform.  . It is risky but if you want to take the risk and know how to see the trend up and down then you could make your $100 USD into $1,000 USD in just a day. The platform will provide you educational video tutorial if you are a n00b in currency and stocks trading.



Current exchange rate for 1 BTC to USD is $1,1888 or check Google echange rate for updates
Investment Recommendation: Bitcoin Investments



Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com