Energy regulator OK’s lower FiT-All
THE ENERGY REGULATORY COMMISSION (ERC) has approved a feed-in tariff allowance (FiT-All) of P0.2226 per kilowatt-hour (/kWh) applied to the year 2018, P0.0706/kWh lower than the rate applied for by state-led National Transmission Corp. (TransCo).
DoF estimates P22.5B/year foregone from illegals
THE FINANCE DEPARTMENT is pressing for a more aggressive campaign against unregistered foreign workers in Philippine offshore gaming operations (POGO) in the belief that the government has been missing out on P22.5 billion in income taxes yearly.
PHL ‘out of the woods’ with inflation
THE PHILIPPINES appears “out of the woods” as far as inflation is concerned, with the overall rise in prices of basic goods seen consistently lower until the last few months of 2019, a senior central bank official said, although rising oil prices and the impact of severe weather may be disruptive.
Manila eyes more opportunities to link up with Belt and Road
THE PHILIPPINES is gearing up to secure additional funding support from China for local infrastructure projects, with the two economies enjoying deeper investment ties amid growing “mutual trust.”
Finance dep’t downplays record current account gap
THE RECORD current account deficit incurred in 2018 remains “financeable” as the government expects continued investment inflows from abroad, the Department of Finance (DoF) said.
TransCo reduces proposed 2019 feed-in tariff allowance
THE National Transmission Corp. (TransCo) has asked the Energy Regulatory Commission (ERC) to reduce by around 3 centavos the feed-in tariff allowance (FiT-All) it will be collecting from consumers for 2019, its top official said.
BSP likely to cut rates by May
THE Bangko Sentral ng Pilipinas (BSP) will likely reduce key interest rates by May, noting that policy makers are likely growing more confident after inflation forecasts were slashed anew on Thursday.
SEC drafts rules on perpetual corporate existence
THE Securities and Exchange Commission (SEC) is seeking comments from the investing public for its proposed guidelines on the perpetual existence of corporations.
BSP steadies rates, cuts inflation outlook
THE CENTRAL BANK kept benchmark interest rates steady on Thursday, citing the need to stay cautious given risks to economic growth even as inflation has been easing steadily.
Price hikes slip to 5% in Feb. for poor families
INFLATION for low-income families softened further in February even as it stayed in five-percent territory, the Philippine Statistics Authority (PSA) reported on Thursday.
PHL bond market growth fastest in E. Asia
THE PHILIPPINES recorded the fastest bond market growth in emerging East Asia in the last three months of 2018 as regulators relaxed rules for capital raising, the Asian Development Bank (ADB) said.
Water execs told: ‘Shape up or ship out’
WATER SERVICE disruption since earlier this month in Metro Manila’s east concession zone prompted President Rodrigo R. Duterte to summon both regulatory and corporate officials overseeing the current situation to Malacañan Palace on Tuesday night where he told regulators to “shape up or ship out” and threatened termination of concessionaires’ contracts, according to statements of the Palace and parties present in the meeting.