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THE BUREAU of Customs (BoC) is looking to require international shipping lines to build warehouses outside Metro Manila to store empty containers, while fees charged to businesses that leave empty containers in ports beyond the allowable period could rise, as the government explores more ways to ease congestion at the Port of Manila.
THERE IS huge scope to raise digital transactions in the country by pushing more Filipinos to use their bank cards beyond cash withdrawals, payments provider Visa said.
UNIONBANK OF THE Philippines, Inc. is eyeing bigger revenues from digital transactions in the coming years, as they expect investments on technology to improve financial services offered to clients.
JAPAN has pledged additional grants for the Philippines following a joint meeting held in Osaka this week, which include funding for train simulators as well as projects for healthcare and peace efforts in Mindanao.
THE CENTRAL BANK will soon allow banks and other financial firms looking to offer basic digital financial services to start operations without securing prior approval from the regulator, amid an industry push towards e-payments.
THE PESO strengthened versus the dollar on Friday, buoyed by hawkish comments from a central bank official and offshore inflows ahead of the sale of retail Treasury bonds next week.
By Melissa Luz T. Lopez, Senior Reporter THE GOVERNMENT breached its deficit limit in 2018, as state spending shot past target to outpace the increase...
PHILIPPINE NATIONAL Bank (PNB) raised P8.22 billion from the issuance of long-term notes to investors, with the additional funding meant to manage debts and offer more loans.
A HONG KONG-BASED insurer has secured a license to operate in the Philippines, as it looks to provide cover against cyber threats and terror acts for local businesses.
The EXECUTIVE branch will release funds this year according to state offices’ spending capacity despite Congress’ opposition to the scheme, Budget Secretary Benjamin E. Diokno said in a press briefing on Wednesday, adding that President Rodrigo R. Duterte’s economic managers have signed a request for the Commission on Elections (Comelec) to exempt 145 infrastructure projects from the 45-day ban on public works ahead of the May 13 mid-term elections.
PHILIPPINE officials are headed to Osaka this week for meetings with Japanese counterparts on plans for the new Bangsamoro region as well as infrastructure projects funded by official development assistance (ODA).
THE PHILIPPINES’ external position remained in surplus in January, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday, marking the biggest surfeit in six years amid sustained dollar inflows.
RICE IMPORTS starting March 5 will be covered by new tariffs under a newly signed law, with the measure expected to generate at least P7 billion in its first year of implementation.
PHILIPPINE economic growth will likely pick up this year, a regional think tank said in a report released on Monday, even as it advised monetary and fiscal authorities to be mindful of short-term external risks and keep interest rates “appropriately tight.”
THE GOVERNMENT secured a fresh two-year extension for a debt swap program with Italy which is expected to support seven projects funded through the platform, the Department of Finance (DoF) said in a press statement on Monday.
THE BUREAU of Internal Revenue (BIR) has asked the Philippine Amusement and Gaming Corp. (Pagcor) to include proof of tax registration and payment as a requirement to renew the licenses of offshore gaming operators, who have hired a growing number of workers from China.
THE DEPARTMENT of Finance (DoF) said it will push for a new measure that will provide a general tax amnesty, after such a provision was vetoed by President Rodrigo R. Duterte when he signed into law last Friday the reprieve for estate tax liabilities and national tax delinquencies in specific circumstances.
TWO NEWLY ENACTED LAWS are seen to strengthen operations of the Bangko Sentral ng Pilipinas (BSP), with monetary officials noting they will now have a better handle on inflation as well as on the financial system.
THE PHILIPPINES can afford to increase state spending on social protection to help attain better living conditions by 2030, but it will have to raise more revenues to do so, the Asian Development Bank (ADB) said in a report released on Wednesday.
CAPITAL FORMATION will likely hit a snag this year amid higher interest rates and delays in infrastructure projects, which in turn will pull growth below the state’s 7-8% goal.