Consultations geared up prior to bidding on 3rd telco player
THE TERMS of reference (ToR) for the bidding on the third major telecommunications player are being finalized as government agencies aim to resolve issues on the additional player.
House panel mulls local tax shield for firms in line with TRAIN 2
THE HOUSE committee on ways and means will look into how businesses in the Philippines can be shielded from dealing with varying tax schemes among local government units while still rationalizing fiscal incentives under the second package of the tax reform program.
Duterte reaffirms ‘entire island’ of Boracay to go under land reform
AMID REHABILITATION efforts in the tourist island of Boracay, President Rodrigo R. Duterte said on Wednesday, “I’m declaring land reform for the entire island of Boracay.”
BSP requires longer-term liquidity buffer
THE BANGKO SENTRAL ng Pilipinas (BSP) has approved new guidelines that will require banks to hold ample liquidity buffers covering a whole year, in keeping with global standards for a solid asset base.
Finance dep’t disputes fall in Philippines’ competitiveness rank
THE DEPARTMENT of Finance (DoF) on Tuesday disputed the International Institute of Management Development’s (IMD) latest World Competitiveness Rankings report that saw the Philippines’ dropping nine rungs, arguing that this was not consistent with data.
Government approves 805,200 tons of rice imports under quota scheme
THE STATE grains procurement agency on Tuesday gave the go-ahead for local traders to import up to 805,200 tons of rice under an annual quota scheme, which should boost domestic supply and keep rising prices in check.
EU lawmakers move to toughen screening of foreign investments
BRUSSELS/BERLIN -- Lawmakers in the European Parliament approved on Monday a far-reaching proposal calling for greater scrutiny of foreign investments, part of a bid to respond to a flurry of Chinese acquisitions in the European Union (EU).
BSP to raise TDF offers to absorb liquidity
THE BANGKO SENTRAL ng Pilipinas (BSP) will raise the auction volume for term deposits in the coming weeks in order to absorb additional liquidity released following a fresh cut in bank reserves.
Philippine blockchain association launched
THE BLOCKCHAIN Association of the Philippines (BAP), one of the first blockchain-related organizations in the country, has been launched to harness and develop its use cases in the country, including the banking sector.
Fed’s Bullard warns vs hikes amid low inflation
THE FEDERAL RESERVE should slow its pace of policy normalization to help re-align price expectations around 2% and maintain the credibility of its inflation target, Fed Bank of St. Louis President James Bullard said Tuesday in Tokyo.
Government debt posts slight decrease
THE NATIONAL government’s outstanding debt had a slight decrease in April “due to the stronger peso and third currency fluctuations,” the Bureau of the Treasury (BTr) said.
PIDS cites need for broader transparency in investment negative list
THE PHILIPPINE Institute for Development Studies (PIDS) wants to broaden the level of transparency in the government’s foreign investment negative list to aid prospective foreign investors in making more informed decisions.