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THE Philippines remained as a lower-middle income economy, according to the latest data from the World Bank.
THE Philippines signed on Wednesday a loan for 50 billion yen (around P23.5 billion) with Japan to add supplement its resources as it struggles to contain coronavirus disease 2019 (COVID-19).
SECURITY BANK Corp. will close its offer of two-year bonds on July 3, Friday, more than a week ahead of schedule, after seeing strong reception for the issue.
AROUND 77% of all taxes collected as of mid-June were coursed through electronic payment (e-payment) channels, the Bureau of Internal Revenue (BIR) reported, after the lockdown coincided with income tax season.
THE Asian Development Bank (ADB) approved a $26.5-million (P1.32-billion) loan to help local governments generate more revenues by digitizing property tax valuation and collection.
MOBILE wallet GCash said cashing in using MasterCard or Visa bank cards will be charged with 2.58% convenience fee starting July 6, after its card payment partners imposed the new rates.
OVERSEAS FILIPINO Bank (OFBank) has launched its new, fully digital system on Monday, which aims to expand its reach to Filipinos around the world through online banking.
THE project period for a Metro Manila wastewater collection and treatment management system is due to expire Tuesday with its main backer, the World Bank, noting that the project has yet to meet targets for the number of people reached, among others.
TOBACCO-PRODUCING provinces may receive up to P21 billion in 2022, as their share in collection of excise taxes on tobacco products this year, the Budget department said.
BUDGETARY support to state-owned firms released in May rose nearly 467% after the release of the second tranche of the wage subsidy program, the Bureau of the Treasury said.
The unexpected 50 basis point (bp) reduction in benchmark interest rates is being positioned as a measure to restore consumer and business confidence, the...
SUN LIFE of Canada (Philippines), Inc. is looking to expand its reach to micro, small and medium enterprises (MSMEs) and overseas Filipino workers (OFWs) affected by the fallout from the coronavirus pandemic.
THE Department of Finance (DoF) said it plans to keep spending “fiscally responsible” in case of a second wave of coronavirus infections and declared that the government will be able to finance the required measures if the next wave hits.
THE National Economic and Development Authority (NEDA) is looking to work with the private sector to speed up the implementation of the national ID system.
THE amended Chiang Mai Initiative Multilateralization (CMIM) agreement took effect Tuesday, offering an improved currency swap arrangement and financial safety net among Association of Southeast Asian Nations (ASEAN) countries and the bloc’s regional partners.
THE Philippines needs to address the lack of clarity on investment policy, which is discouraging foreign direct investment (FDI), an economist from Fitch Solutions Country Risk & Industry Research said.
THE ongoing tax amnesty program has yielded more than P2.5 billion in collections so far, according to the Bureau of Internal Revenue (BIR), which expects more taxpayers to avail themselves of the program after the cut-off date was extended to end-2020.
GOVERNMENT borrowing rose 673.96% in April as it raised funds in the Philippines and overseas to help contain the coronavirus outbreak, the Bureau of the Treasury (BTr) reported.
THE Department of Finance (DoF) said it will take “legal and regulatory action” against digital-currency investment schemes claiming backing from government officials, including the Secretary of Finance himself.
THE Philippines’ path to economic recovery faces headwinds, as coronavirus disease 2019 (COVID-19) cases continue to rise and policy measures rolled out by the government are still “meager.”