Economic managers say rising revenues to help keep budget gap manageable
THE DEVELOPMENT Budget Coordination Committee (DBCC) said on Tuesday that government revenues are “strong” enough to help finance a bigger deficit next year, supported by bigger collections as a result of ongoing tax reform.
Economic execs assure on budget gap
ECONOMIC MANAGERS are committed to keeping the government’s budget deficit manageable despite a Supreme Court (SC) ruling in favor of more state allocations to local governments, saying above-target revenue collections will help while they appeal the decision.
Better regulations seen key to more innovation
THE PHILIPPINES needs more reforms in the regulations for small businesses to improve the country’s environment for innovation, according to INSEAD business school.
BSP forms fintech unit
THE BANGKO SENTRAL ng Pilipinas (BSP) has formed a new unit to oversee financial technology (fintech) companies, as the regulator keeps up with increased digital payments.
Many Asian currencies weaken as investors dig in ahead of central banks meetings
MOST ASIAN CURRENCIES weakened on Monday as investors braced ahead of a busy week lined with central bank meetings, corporate results and updates on US inflation and payrolls.
IMF expects wider current account gap
THE International Monetary Fund (IMF) expects the Philippines’ external position to log a bigger deficit this year, although the central bank chief said the level will remain manageable and supportive of further economic growth.
State mining body to review audit findings
THE MINING Industry Coordinating Council (MICC) will convene on Wednesday to discuss the final report of a technical review team on the mines ordered closed or suspended last year by the Department of Environment and Natural Resources (DENR).
Cavite government’s Sangley airport plan gets green light from Transportation dep’t
THE DEPARTMENT of Transportation (DoTr) has given the green light to the Cavite provincial government’s plan to build an airport at the former US naval facility at Sangley Point, Cavite.
Poland may take Filipino workers — minister
WARSAW -- Poland, whose right-wing government opposes taking in migrants, may have to look to Filipino workers to cover a growing labor shortage hurting the economy, a senior official said Saturday.
BSP simplifies rules for banks’ bond floats
THE CENTRAL BANK has simplified rules for lenders issuing bonds to raise additional capital, its chief said, which is expected to replace long-term note offerings.
Central bank eyes ‘national QR code’ for retail payments
THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.
S&P cautions on tax reform uncertainty
PROLONGED UNCERTAINTY over tax reform could weigh on investor appetite towards the Philippines, S&P Global Ratings said on Thursday in the wake of reports that lawmakers could be hesitant to approve measures involved as the May 2019 midterm elections draw closer.