Home Tags Reicelene Joy N. Ignacio
Tag: Reicelene Joy N. Ignacio
THE Philippines lags similar-sized economies in spending on social protections and needs to improve their design and implementation, according to a study of state think tank Philippine Institute for Development Studies (PIDS).
THE Department of Finance (DoF) expects to sign a $202.04-million loan agreement with Japan for the Road Network Development Project in Conflict-Affected Areas.
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is “cautiously optimistic about the current state of the Philippine economy,” amid lingering global headwinds.
INCREASED investment and consumer spending are expected in the second quarter with the taming of inflation and the acceleration of government spending, according to The Market Call published by the FMIC & UA&P Capital Markets Research.
THE WORLD BANK has maintained its 6.4% gross domestic product (GDP) growth projection for the Philippines this year which the global lender penciled in its economic update in April, even as the latest forecast is 0.1 percentage point less than its January estimate.
THE GOVERNMENT Service Insurance System’s (GSIS) net income surged in the first quarter on the back of higher interest income and premium contributions, as well as the local bourse’s strong performance.
MANUFACTURING activity expanded in May in the Association of Southeast Asian Nations (ASEAN), driven by expansions in output and new orders, according to the Nikkei ASEAN Manufacturing Purchasing Managers’ Index (PMI) prepared by IHS Markit.
THE Department of Finance (DoF) hopes to fully implement the electronic invoicing system by December 2022, resulting in administrative savings for the government and streamlining of tax processes, the Department of Finance said.
THE PUBLIC-Private Partnership (PPP) Center has approved the provision of project preparation and transaction advisory support for the 70-hectare Agro-Industrial and Information Technology Parks Project of the University of the Philippines Los Baños (UPLB) in Laguna.
MANUFACTURING in the country picked up in May after business for factories improved at the slowest pace in nine months in April, with the increase in new orders “the most marked in four months” on the back of a “moderate” improvement in demand that was nevertheless “the greatest since February,” according to the latest monthly survey IHS Markit conducted for Nikkei, Inc.
THE OVERALL RISE in prices of widely used goods likely slowed from a year ago in May though it could have steadied at April’s 16-month-low pace, according to a poll of economists late last week, even as the central bank’s estimate on Friday bared expectation that May could have paused a monthly inflation decline seen since November 2018.
THE regional disparity in wealth has widened throughout the years, mitigated only by high levels of overall economic growth and a trend towards reduced poverty, the National Economic and Development Authority (NEDA) said Thursday.
THE Philippine Amusement and Gaming Corp. (PAGCOR) said Thursday that revenue rose 11.44% year-on-year to P25.09 billion in the four months to April, amid strong fees from gaming licensees and offshore gaming operators.
BIDS FOR term deposits declined further on Wednesday ahead of the first round of cuts to lenders’ reserve requirement ratios (RRR) taking effect this week.
THE CENTRAL BANK has rationalized the framework for the selection of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs) to streamline and centralize requirements across agencies.
FORTY-SIX government-owned and controlled corporations (GOCCs) remitted a total of P38.9 billion worth of dividends to the Treasury in the five months to May, or just 3% less than the record P40.17 billion remitted in all of 2018, the Department of Finance (DoF) said.
MOODY’s Investors Service cut its Philippine economic growth forecast to 6% for this year from its previous projection of 6.2% due to the delayed approval of the 2019 General Appropriations Act (GAA), which dampened gross domestic product (GDP) growth in the first quarter.
THE Bureau of Internal Revenue (BIR) is set to finalize the revenue regulations (RR) covering the tax amnesty this month after making the rounds of public consultations.
THE DEPARTMENT of Agriculture (DA) said it will be requesting for an immediate temporary suspension of importation of pork and pork products from high-risk countries in support of the local hog industry.
THE Department of Budget and Management (DBM) is still considering whether to implement a full cash-based budgeting system this year following the delayed approval of the 2019 General Appropriations Act (GAA).
SEVENTY-SIX government agencies are expected to be connected to TradeNet, the National Single Window System for Customs clearances, by 2022, or else will be removed from the list of regulators, according to Finance Undersecretary Gil S. Beltran.
UNDERSPENDING due to the delayed passage of the 2019 national budget caused the government’s fiscal position to swing to a surplus in April, the Bureau of the Treasury (BTr) reported on Friday.
THE PESO strengthened further against the dollar on Friday ahead of US data and the implementation of the first wave of reductions in banks’ reserve requirement ratios (RRR).
THE MONETARY BOARD of the Bangko Sentral ng Pilipinas (BSP) on Thursday announced an expected reduction in thrift, rural and cooperative banks’ reserve requirement ratio (RRR) -- a week after it did so for big banks and two weeks after it cut policy interest rates -- releasing more funds for lending to further prod economic activity at a time of easing inflation and slowing gross domestic product growth that disappointed at a four-year-low 5.6% last quarter.
THE DEPARTMENT of Finance (DoF) wants to convert the Philippine Crop Insurance Corporation (PCIC) into a reinsurer rather than an insurance provider so it will not compete with private insurance providers.
SOUTHEAST ASIA needs to improve its production efficiency and deepen regional integration to catch up with evolving global trade, executives from HSBC Ltd.’s Philippine unit said Thursday.
SIMMERING trade tensions between the world’s two biggest economies, the United States and China, will weigh on global economic prospects, the United Nations (UN) and the Organization for Economic Cooperation and Development (OECD) reported on Wednesday -- a factor that led Fitch Solutions Macro Research to slash its own gross domestic product (GDP) growth projection for the Philippines in particular for this year.
SOCIOECONOMIC Planning Secretary Ernesto M. Pernia said donor countries like China are likely to resist hiring mostly Filipinos in any projects funded by Official Development Assistance (ODA), after Senator Sherwin T. Gatchalian filed a bill calling for priority hiring.
THE Philippines will model parts of tax reform on a South Korean (SoKor) digital invoicing program, the Department of Finance (DoF) said.
THE COUNTRY’s balance of payments (BoP) -- a summary of the Philippines’ economic transactions with the rest of the world for a given period -- registered a surplus for the sixth month in a row in April due to inflows from the central bank’s foreign exchange operations and income from its investments abroad that were partially offset by state foreign debt payments, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
FINANCE SECRETARY Carlos G. Dominguez said that he will pursue the closure of Philippine Offshore Gaming Operator (POGO) companies employing foreign nationals without work permits, after learning that 12,000 foreigners are currently in the country without the proper authorization.
FRESH from slashing benchmark interest rates just a week ago by 25 basis points in the face of easing inflation and slowing economic growth, the Bangko Sentral ng Pilipinas (BSP) on Thursday fired off a 200-basis-point (bp) phased reduction in big banks’ reserve requirement ratio (RRR).
THE Department of Budget and management (DBM) said it released P1.323 trillion in the four months to April while the government was operating mostly under a re-enacted 2018 budget, including a record unprogrammed release for transportation projects.