Two weeks after it assumed office, the Aquino administration filed its first tax evasion case. [See 10 things to do to keep your book of accounts orderly here]

ABS-CBNnews.com reported that William Villarica, pawnshop chain owner, was charged with tax evasion by finance officials owing to the discrepancies in his lifestyle and in his declared income.

Villarica allegedly paid  only an income tax amounting to P25,600.00 between 1998 and 2009, but was able to buy a P26-million Lamborghini sports car.

The new administration also said that it would be using Facebook and Twitter to pin down tax evaders.

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 President Benigno "Noynoy" Aquino III said it is looking at nuclear power as a possible energy source for the Philippines, an initiative started by the late strongman Ferdinand Marcos.  [Read RP to get huge investments in green energy here]

"We are studying the possibility of using nuclear energy as a source of power," Aquino said in a report of ABS-CBNnews.com. "I'm awaiting the Department of Energy secretary's recommendations."

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Andrew Tan, one of the Philippines' wealthiest, announced that he will be construction his fourth hotel at the 25-hectare Newport City.

Alliance Global, Tan's holding company, said that it would break ground for the 540-room Hamilton Hotel in this quarter, completing the four major hotels planned in the area. [Read about Alliance Global's earnings report here]

Other hotels in Newport City, such as Marriott and Maxims hotels have already been completed, while the budget hotel Remington Hotel has already started construction. -Carlo Mallo