A WORLD BANK (WB) Group study found that total debt in emerging and developing economies (EMDEs), which includes the Philippines, hit an eight-year high last year, increasing at its fastest pace in nearly five decades.

THE House of Representatives approved on third and final reading a bill covering the fifth phase of government employee salary increases.

THE Anti-Red Tape Authority (ARTA) said it is hoping for a climb of nearly 50 places for the Philippines in the 2021 World Bank Ease of Doing Business report, to a rank of 47^th.

THE Public-Private Partnership (PPP) Center said Wednesday that an executive branch proposal amending the build-operate-transfer (BOT) law, which could include a tariff-setting feature, is currently being prepared for submission to Congress.

A MAJOR UNION has come out in support of the Department of Labor and Employment’s (DoLE) plan to slow the deployment of overseas workers to Saudi Arabia amid a back pay dispute, saying that it protects workers’ interests.

PRODUCTION of palay, or unmilled rice, in the fourth quarter is estimated at 7.70 million metric tons (MMT), up 7.6% year-on-year, the Philippine Statistics Authority (PSA) said.

THE Asian Development Bank (ADB)-backed satellite, Kacific1, launched Tuesday with the aim of connecting people in remote areas to the internet, including the Philippines.

THE National Economic Development Authority (NEDA) said it is planning around a water shortage due to low levels at Angat Dam and has not factored in the government’s current dispute with Metro Manila’s two water providers.

THE National Economic Development Authority (NEDA) said it does not expect the Philippines to retain its access to concessional loans as it moves towards middle-income status, and must seize the opportunity by completing major infrastructure projects by 2023.

THE World Bank Group has approved a $400-million development policy loan (DPL) meant to promote competitiveness, enhance fiscal sustainability and strengthen financial resilience against against natural disasters.

Those who are familiar with tax treaty provisions know that they apply only to residents of countries which are parties to the treaty. Thus, the main documentary requirement to support eligibility for tax treaty relief is the proof of residency of the non-resident income-earner. More commonly known as a tax residency certificate (TRC), such proof of residency is a certification issued by the tax authority of the country of the income-earner, attesting that the latter is a resident of such country in the tax year concerned for purposes of the tax treaty being invoked.

THE INITIAL PHASE of the US-China trade deal will be positive for Philippine exports and capital markets, economists said.