MOST European investors in the Philippines expressed dissatisfaction about the extent of the government’s economic stimulus measures, the European Chamber of Commerce of the Philippines (ECCP), citing the results of an internal survey.

CLOTHING manufacturers that have repurposed their facilities to produce personal protective equipment (PPE) for the domestic market are asking the government for tax breaks, and lobbied to have such taxes applied to importers.

GOVERNMENT agencies’ cash utilization in the seven months to July, based on an indicator known as the Notice of Cash Allocation (NCA), fell sharply to 76% from 93% a year earlier, with the pandemic disrupting normal spending activity, the Department of Budget and Management (DBM) said.

THE Bangko Sentral ng Pilipinas (BSP) is looking to amend the Agri-Agra Reform Credit Act of 2009 (Agri-Agra Law) in order to better support the agriculture sector, with banks still resisting the law’s lending quotas, preferring instead to pay penalties for non-compliance.

THE rice supply was deemed sufficient for the rest of the year despite the return of Metro Manila and nearby provinces to a stricter form of lockdown, the Department of Agriculture (DA) said.

MPCALA Holdings, Inc., a subsidiary of Metro Pacific Tollways Corp. (MPTC), said Thursday that the Toll Regulatory Board (TRB) approved the tolls for the Laguna interchanges of the Cavite-Laguna Expressway (CALAX).

LOANS granted to electric cooperatives in the seven months to July amounted to P343.45 million, according to the National Electrification Administration (NEA).

THE government is currently studying private-sector participation in the registration process for the national ID in 2021, and could begin a search for potential partners “soon,” the Philippine Statistics Authority (PSA) said.

GROSS domestic product (GDP) in 2020 is likely to contract 8-9% due to the pandemic, positioning the economy for a rebound off a low base in 2021 with fundamentals largely intact, according to participants at a First Metro Investment Corp. (FMIC) briefing.

THE low rates of registration by the Mindanao energy industry may further delay the launch of the electricity spot market in the region, according to the Independent Electricity Market Operator of the Philippines (IEMOP).

THE government will help the agriculture sector achieve sufficient scale to better access financing and equipment under a program known as Farm and Fisheries Clustering and Consolidation (F2C2).

THE Philippine stimulus package to bring the economy back from the coronavirus crisis has neglected to target “green” and sustainable projects that could help ensure a stronge recovery, ING Bank said.