Deficit plunges in March on 2019 budget delay, strong revenue collections
THE budget deficit narrowed by 47.23% year-on-year in March after a strong revenue performance, while spending was dampened by the delay in the passage of the 2019 Budget, the Bureau of the Treasury (BTr) said.
Peso rises ahead of Fed minutes
THE PESO strengthened further against the dollar on Tuesday on heavy greenback selling ahead of the release of the minutes of the US Federal Reserve’s last policy meeting.
Peso weakens versus greenback on US non-farm payrolls report
THE PESO ended weaker on Monday due to concerns over weaker-than-expected US non-farm payrolls data released last week.
AC Energy to build wind farms in Vietnam
AYALA-LED AC Energy, Inc. is building two wind energy projects in Vietnam with Hong Kong-based UPC Renewables Group.
After Bayanihan II, Senate to focus on CREATE bill
THE SENATE will begin deliberations next week on the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which will immediately cut corporate income tax to 25%.
Revival of mining industry pushed
THE Finance department is looking to revive the mining industry through the sale of state mining assets and the passage of a long-awaited tax measure, in order to create jobs and generate revenues amid the economic slowdown.
Fitch Ratings lowers Philippines’ outlook to ‘stable’
FITCH RATINGS on Thursday evening downgraded its outlook for the Philippines to “stable,” less than three months since it gave a “positive” outlook, as the economy faces a recession amid the coronavirus pandemic.
IBPAP says revenues grow in 2018 but falls short of road map target
THE Information Technology and Business Process Association of the Philippines (IBPAP) said revenues picked up pace in 2018, but failed to reach its targets under the current industry road map.
DoLE amends rules on wage deduction
The labor department issued a new department order regarding rules and regulations on deduction of wages.
The Department of Labor and Employment (DoLE) issued Department...
Portion of Quezon City common station declared 96% complete
THE Department of Transportation (DoTr) said the Area B, which will serve as the common concourse of the Metro Rail Transit (MRT)-Light Rail Transit (LRT) common station project in North Avenue, Quezon City, is now 96% complete.
Peso flat as Biden eyes stimulus
THE PESO closed flat versus the dollar on Wednesday amid the anticipated distribution of vaccines against the coronavirus disease 2019 (COVID-19) and after US President-elect Joseph R. Biden, Jr. asked Congress to pass a relief package.
Fintechs challenged by PHL attachment to cash
THE continued preference for cash is proving to be a major hurdle for financial technology (fintech) companies, as they seek to build trust in their platforms’ security while spreading awareness of the advantages to using their offerings during the pandemic, industry representatives said.