Higher FDI seen with CITIRA in place
FOREIGN INVESTORS could pour in more than $10 billion in the Philippines once a measure that seeks to lower corporate income tax is enacted, central bank Governor Benjamin E. Diokno said last week.
PHL economic risks from China virus downplayed
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno downplayed economic risks that may arise from the continued spread of the novel coronavirus from Wuhan, saying the Philippines’ exposure to China is not that significant.
Philippines delisted from EU’s counterfeit watchlist
THE European Union (EU) removed the Philippines from its “priority” counterfeit watchlist, even if it noted that intellectual property (IP) protection in the country has not improved.
Regulator drafts rules on financial derivatives
THE Securities and Exchange Commission (SEC) is seeking to revise rules on financial derivatives to “improve the regulatory compliance of investment companies and their fund managers and ensure adequate protection to shareholders and unitholders.”
Gov’t to sell at least P30B in RTBs
THE Bureau of the Treasury (BTr) is looking to raise at least P30 billion via the issuance of retail treasury bonds (RTB) starting Tuesday, Jan. 28.
BSP: Inflation likely to stay within target range until 2021
INFLATION is likely to settle within the midpoint of the central bank’s target range this year until 2021, with risks tilting slightly upward, according to officials from the Bangko Sentral ng Pilipinas (BSP).
Inflation for poor households eases to two-year low in 2019
THE year 2019 saw inflation as experienced by low-income families fall to its lowest level in two years despite picking up in December, the Philippine Statistics Authority (PSA) reported on Friday.
GDP growth falls to 8-year low in 2019
THE PHILIPPINE ECONOMY grew by 6.4% in the fourth quarter, its fastest pace for 2019 on the back of robust household spending and a rebound in government spending, but was not enough to hit the full-year goal, the Philippine Statistics Authority (PSA) reported yesterday.
Philippines drops in global corruption index
THE Philippines slipped 14 spots in a global corruption index released on Thursday by Transparency International, which said “a staggering number of countries are showing little to no improvement in tackling corruption.”
Duterte vetoes provision of new sin tax law
PRESIDENT Rodrigo R. Duterte on Wednesday signed into law the measure increasing the excise tax imposed on electronic cigarettes and alcohol products, but vetoed a provision seen to curtail the power of the Bureau of Internal Revenue (BIR) to conduct raids as part of its efforts to clamp down on illicit trade.
Farm output fails to hit gov’t target
PHILIPPINE agriculture output grew less than a percent in 2019, failing to meet the government’s target as the African Swine Fever (ASF) outbreak dragged the livestock sector.
Gov’t raises €1.2 billion from euro bond issue
THE government raised €1.2 billion from its offer of two tenors of euro-denominated bonds following strong demand from investors, including the three-year papers priced at a near-zero coupon.