FDI net inflows bounce back in May
FOREIGN INVESTMENTS into the Philippines jumped by 42% in May, reversing three months of decline due to the coronavirus pandemic’s impact on investor confidence, the central bank said on Wednesday.
Philippines leaps to 50th place in global innovation index
THE Philippines moved up four spots to 50th out of 131 economies on an annual list that measures their performance in innovation, becoming one of four Asian countries with the most significant progress.
NG debt swells to P9.2 T
NATIONAL GOVERNMENT (NG) debt rose by 1.2% to P9.16 trillion as of end-July, as it borrowed more to finance its coronavirus disease 2019 (COVID-19) response and offset weak revenues amid the economic slowdown.
BoC beats collection goal in August
THE Bureau of Customs (BoC) on Wednesday said it surpassed its reduced collection target by nearly a third in August, although year-to-date revenues were still down as import volume continued to be affected by strict lockdown measures.
Factory activity drops to 3-month low
THE Philippine capital’s return to a stricter lockdown in the first two weeks of August dampened manufacturing activity, which fell to a three-month low,...
Philippines seeks $600-million loan for 4Ps program
THE Philippines is seeking a fresh $600-million (P29.1-billion) loan from the World Bank (WB) to extend its conditional cash grants to poor families amid...
More firms may follow SMC’s lead in seeking tax perks for airport projects
THE proposed tax incentives for San Miguel Aerocity’s Bulacan airport project is prompting other groups to explore the possibility of securing similar perks for their own projects.
Reforms pushed to attract more FDI
THE Trade department is making a renewed push for the passage of bills that would further open up the economy to foreign direct investments (FDI), after Philippine rules on such were again deemed among the most restrictive in the world.
PHL slips in global outsourcing ranking; Davao out of top 100 list
THE PHILIPPINES slipped in this year’s list of outsourcing destinations by global strategic firm Tholons, Inc. as the economy is among those hardest hit by the coronavirus disease 2019 (COVID-19) pandemic.
Property sector outlook remains dim as shoppers stay away from malls
LISTED PROPERTY companies may continue to see double-digit profit drops for the remainder of the year, as consumers continue to stay away from shopping malls amid the rise in the number of coronavirus infections.
Inflation likely edged up in August
THE inflation likely edged higher in August, as food prices and transportation costs rose when lockdown restrictions were brought back for two weeks earlier in the month, analysts said.
Corporate income tax cut to create more jobs — study
THE proposed reduction in corporate income tax, coupled with the overhaul of the fiscal incentive system, will help reduce poverty by at least 4.9 percentage points, create jobs and attract foreign investments, a study commissioned by the Labor department showed.