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Tag: Elijah Joseph C. Tubayan
TODAY’S PLEBISCITE for a new law that will expand the geographic coverage and economic authority of the Autonomous Region in Muslim Mindanao (ARMM) comes at a period when significant growth has been recorded in this part of the country that has otherwise been afflicted by poverty and armed conflict.
THE PHILIPPINES’ balance of payments (BoP) posted the biggest surplus in more than six years in December, which also marked the second straight month of surfeit, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, but it still ended 2018 with a wider deficit than in 2017.
THE GOVERNMENT is looking to expand the list of environmental projects eligible for financing via the issue of so-called “green bonds.”
THE GOVERNMENT will move to open up sugar imports this year to make the industry more competitive, the state Budget chief said, explaining that President Rodrigo R. Duterte’s administration wants to do the same for other food items.
THE PHILIPPINE AND SPANISH governments signed an agreement for a 300-million euro credit facility to fund infrastructure and tourism projects
THE GOVERNMENT launched its first real-time public financial management system on Wednesday, which is designed to streamline the monitoring of agencies’ transactions.
THE PESO weakened on Wednesday after a plan for the United Kingdom's exit from the European Union was thumbed down, adding more uncertainty to the market.
THE DEPARTMENT of Finance (DoF) said approving the second tax reform package on corporate income tax and fiscal incentives will be positive for legislators seeking re-election during the midterm elections.
THE DEPARTMENT of Budget and Management (DBM) said it is not authorized to release the fourth round of government salary increases under a re-enacted budget amid pressure from legislators.
THE DEPARTMENT of Finance (DoF) said it expects to conclude more loan deals with Japan in the first quarter of 2019.
THE TAX REFORM for Acceleration and Inclusion (TRAIN) law’s collection performance has been “pretty good” so far, the Department of Finance (DoF) said, citing data in last year’s first three quarters.
DAVAO-BASED businessman Dennis A. Uy is not interested in rescuing debt-ridden Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Philippines).
NATIONAL GOVERNMENT disbursements on infrastructure and other capital outlays saw “solid numbers” in November, nearly reaching the full-year program.
THE COUNTRY’s Budget chief expects infrastructure spending last year to have closed in on the government’s program.
THE GOVERNMENT has formed a task force to study the extent of future salary adjustments for civil servants, calling the pay hikes certain though the degree of the adjustment is yet to be determined.
THE PHILIPPINES sold $1.5 billion in 10-year offshore dollar bonds -- priced 110 basis points (bps) above benchmark US treasuries and tighter than an initial 130 bps guidance -- in an exercise which Finance officials said reflected investor confidence in the country.
THE BUREAU of Customs (BoC) will be on the lookout for pork products potentially contaminated with African swine fever (ASF).
THE BUREAU of Customs will install 50 x-ray units worth P1.2 billion in major ports across the country to tighten its watch on smuggling.
THE PHILIPPINE government maintained its stance to keep its hands off any developments on Dhaka filing charges against Rizal Commercial Banking Corp. (RCBC) next week over the $81-million bank heist in 2016.
THE DEPARTMENT of Finance (DoF) said that the proposal to abolish the Road Board is part of the succeeding package of the comprehensive tax reform program (CTRP), contrary to remarks by a House leader saying that the agency will be retained.
PRESIDENT Rodrigo R. Duterte signed a resolution extending the availability of the 2018 national budget for the maintenance and other operating expenses (MOOE) and capital outlay (CO), pending delays in the passage of the 2019 budget, Executive Secretary Salvador C. Medialdea said Thursday.
THE NATIONAL Economic and Development Authority (NEDA) said it is investigating a sexual harassment complaint against an official of the agency.
FACTORY ACTIVITY in the Philippines improved in December at the slowest pace in three months on milder output and order growth, though overall input cost hike “eased noticeably,” according to the latest survey IHS Markit conducted for Nikkei, Inc.
ALTHOUGH the government’s conditional cash transfer (CCT) program has exceeded some of its objectives, the World Bank cited as a concern a reduction in number of families covered and missed targets in other metrics, as well as inefficient distribution channels.
THE 90-DAY deadline for processing value-added tax (VAT) refund claims now covers the actual payment of the amount, the Bureau of Internal Revenue (BIR) said.
THE TAX REFORM for Acceleration and Inclusion (TRAIN) law may have spurred economic activity with gains in employment and domestic output, but a state-run think tank that reviewed the law said that poverty increased overall, and especially among farmers and fisherfolk.
THE NATIONAL GOVERNMENT’s fiscal deficit grew more than fourfold in November as expenditure growth continued to outpace revenue increase, driving the year-to-date gap closer to 2018’s full-year program, the Bureau of the Treasury reported on Thursday.
THE DEPARTMENT of Finance (DoF) said it will target as part of its anti-corruption efforts major contractors who pay bribes to secure government projects.
THE BUREAU of Internal Revenue (BIR) is ready to implement the value-added tax (VAT) exemption for prescription drugs to treat medicine diabetes, high cholesterol, and hypertension beginning Jan. 1, 2019, as called for by the Tax Reform for Acceleration and Inclusion (TRAIN) law.
ECONOMIC MANAGERS will discuss in a meeting next month of the Development Budget Coordination Committee (DBCC) ways to mitigate the economic impact of a partially reenacted budget and the public works ban ahead of the May 13, 2019 midterm elections, the chairman of the interagency body said on Wednesday.
THE PHILIPPINES can be expected to close in on the top 10% of the world’s major economies in the next 15 years, partly as improved infrastructure spurs overall economic growth, according to a London-based consultancy.