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Question 1

What are sanctions?

Answer 1

penalties imposed by a country toward country intended to harm its economy

Question 2

What is the European Union? What are its 3 main characteristics?

Answer 2

It is a political and economic union composed of 27 member states located in Europe.

3 Main Characteristics:

1. Countries pay membership dues
2. Countries vote on laws that they must all follow
3. Citizens of countries are automatically EU citizens as well (free to live in, retire, and work in any of the others)

Question 3

What is the Eurozone?

Answer 3

all countries that incorporate the euro as their national currency

Question 4

What is the European Economic Area

Answer 4

Member states of the EU + 3 countries of the European Free Trade Association (AFTA)

Question 5

What is the amendment to the Foreign Investments Act

Answer 5

• 100% foreign ownership

- Less paid-up capital

Question 6

3 Economic Reforms to Drive Economic Recovery and Boost Foreign Investment

Answer 6

Amendments to

1. Foreign Investment Act (100% foreign ownership from 40%)
2. Retail Trade Liberalization Act (to principally reduce the minimum paid-up capital requirement for foreign retail enterprises to operate in the Philippines. minimum paid-up capital of PHP 25 million)
3. Public Service Act (100% foreign ownership in telecommunications, airlines and railways.)

Question 7

What is the CREATE Law?

Answer 7

Corporate Recovery and Tax Incentives for Enterprises Act . Corporate income tax from 30% to 25%

Question 8

What is the latest introduction to energy mix?

Answer 8

Nuclear power energy (cheaper + more consistent than others). 2027 is the earliest nuclear power plant (according to energy undersecretary)

Question 9

What is the Philippines’ power mix?

Answer 9

In 2020, it was 57% coal, 21% renewable energy, and the rest natural gas

Question 10

Explain coal in the philippines

Answer 10

The PH issued a moratorium on new coal-fired power plants last November 2020

Question 11

What is excise tax?

Answer 11

taxes required on specific goods or products, usually alcohol, tobacco, fuel.

Question 12

On Spacex

Answer 12

Elon Musk will introduce SpaceX to the Philippines, the first country in Southeast Asia to avail of the technology.

Question 13

who is the DTI secretary

Answer 13

Ramon Lopez

Question 14

what does 12.03 trillion stand for

Answer 14

national government’s outstanding debt

Question 15

PSE launches new indices

Answer 15

dividend yield, midcap, and then a potential ESG (but have to wait to see how other countries do it)

Question 16

Labor and Employment Secretary

Answer 16

Silvestre Bello III

Question 17

Energy Secretary

Answer 17

Alfonso Cusi