Gov’t scrambles vs new tax cheat scheme
THE BUREAU of Internal Revenue (BIR) is teaming up with the Trade department in the ongoing crackdown on illegal cigarettes after uncovering a new scheme involving recycled tax stamps.
SEC drafts rules for revival of expired companies
THE CORPORATE REGULATOR will allow companies whose incorporation papers have expired to apply for revival, following approval of a perpetual corporate term under Republic Act No. 11232, or the Revised Corporation Code of the Philippines.
Meralco bills rise for 3rd month in April
CUSTOMERS of the country’s biggest electricity distributor will have to pay more for the third straight month in April due to an increase in generation charge, which accounts for more than half of a household’s bill.
ICTSI improves yard utilization at MICT
INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said yard utilization rate at its flagship Manila International Container Terminal (MICT) has decreased to 70% at the start of the month from 90% in January.
Asian banks assured of state support
BIG BANKS in the Philippines and other major Asia-Pacific economies can be assured of “extraordinary” state support like bailouts in times of distress, faring better than peers elsewhere, S&P Global Ratings said in an April 5 report.
WESM in Mindanao targeted by 4th quarter
DAVAO CITY -- The wholesale electricity spot market (WESM) in Mindanao is being targeted for launch in the fourth quarter of the year, but it will still depend on results of a third-party evaluation.
Slower-than-expected March inflation seen making case for cut in policy interest rates
THE slower-than-expected March inflation rate bolsters the case for cuts in policy interest rates this year, bank economists said in separate analyses, with the adjustments expected as early as next month.
IIF sees flows to emerging markets recovering in 2019, 2020
LONDON -- The flow of fresh funds to emerging markets should recover this year and next after a flood of money over the past decade, fuelled by loose monetary policy in the United States, Europe and Japan, the Institute of International Finance (IIF) said on Friday.
March inflation below expectation, gives BSP policy space
INFLATION further eased for the fifth straight month in March, the Philippine Statistics Authority (PSA) reported, lending support to the central bank’s view that price increases will ease this year even as officials signaled caution against swift plans to cut policy rates.
Feb. factory output down for third straight month
THE country’s industrial production posted its third consecutive month of decline in February, the Philippine Statistics Authority (PSA) reported on Friday.
Tighter credit, trade row to cap growth
THE UNITED NATIONS Economic and Social Commission for Asia and the Pacific (UN/ESCAP) on Thursday joined other multilateral groups in scaling down growth forecasts for the Philippines, even as it assured that expansion will be faster than last year as more infrastructure projects go live.
Q4 2018 GDP expansion scaled up
THE ECONOMY grew faster than previously estimated in the fourth quarter of 2018, the Philippine Statistics Authority (PSA) reported on Thursday.