‘Second wave’ to bring more pain to developing economies via reduced remittances — IMF
FURTHER outbreaks in countries hosting migrant workers could deepen the economic downturns there, threatening wages, jobs, and ultimately remittances, according to the International Monetary Fund (IMF).
Helping our nation through voluntary tax compliance
By Christian Derick D. Villafranca
The world we are living in right now is very different from the one we were used to. Whenever I hear news about the rising number of COVID-19 cases, employees losing their jobs, and businesses shutting down their operations, which were all brought about by the COVID-19 pandemic, I find myself helpless.
SB Corp. to stretch out loan fund for MSMEs with bank financing
THE Small Business Corp. (SB Corp.) will seek bank financing to expand its available funds for lending to small businesses, and plans to deploy part of its P10-billion budget from the Bayanihan to Recover As One Act (Bayanihan II) to pay for interest, the Department of Trade and Industry (DTI) said.
LGU Bayanihan grants to expire on Sept. 16 unless President extends calamity declaration
THE Department of Budget and Management (DBM) said local government units (LGUs) must use their one-time grants under the Bayanihan to Heal as One Law (Bayanihan I) by Sept. 16, unless the Palace extends the state of calamity beyond that date.
Microgrids touted as priority area for funding by Asian Dev’t Bank
THE Asian Development Bank (ADB) must fund more community microgrid projects to energize more households in developing countries, a sustainability think-tank said.
Rising missionary charges called ‘misguided’ after Congress queries DoE
A BILL component that provides electrification to far-flung, unenergized parts of the country should be reduced, a consumer group said, after Congress questioned the Department of Energy (DoE) about the rising trend in such charges.
Aiding recovery: VAT exemptions on imported medicine
By Joanne Macainag-Cobacha
Health is wealth, particularly during the COVID-19 pandemic. It would seem that the government concurs when it passed Republic Act (RA) No. 9502, otherwise known as the “Universally Accessible Cheaper and Quality Medicines Act of 2008.” The RA empowers the Department of Health (DoH) to keep medicine affordable and accessible to promote the health and well-being of Filipinos.
PHL economy won’t be worse in next 12 months: Diokno
THE ECONOMY will not deteriorate further in the next 12 months as businesses are gradually resuming and with the virus better managed, Bangko...
Fitch sees worse decline in power sector in the near term
By Denise A. Valdez, Senior Reporter
THE RESEARCH UNIT of Fitch Solutions Group Ltd. has downgraded its forecast for the Philippines’ power and renewables sector...
Export-oriented PEZA firms may now sell 50% of their output locally
HALF OF THE production of export-oriented economic zone manufacturing locators may be sold locally during the pandemic, the Philippine Economic Zone Authority (PEZA) said.
Export...
DBM releases 95.6% of budget at end-August
THE DEPARTMENT of Budget and Management (DBM) has released 95.6% of the P4.1-trillion spending plan for 2020 as of end-August.
The agency has so far...
PCC pushes transition period for lower capital requirement for foreign retail investors
THE COMPETITION regulation body is proposing a grace period for the lowering of the capitalization requirement for foreign retail investors.
The Retail Trade Liberalization Act...