Search for third major telco clears major hurdle
THE QUEST for the country’s third major telecommunications service provider advanced on Friday after a government team settled on the highest committed level of service (HCLoS) as basis for competition.
Moody’s flags added political risk as it affirms Philippines’ investment grade
MOODY’s Investors Service on Friday affirmed Philippines’ “Baa2” rating — one notch above minimum investment grade — and “stable” outlook, citing the economy’s overall strength, even as it flagged risks from rising inflation and the planned shift in government form.
State auditors unearth P11-B tax credit anomaly
THE COMMISSION on Audit (CoA) has found that the One-Stop Shop Inter-Agency and Duty Drawback Center (OSS) granted tax credit certificates (TCCs) worth P11.18 billion to 33 ineligible or even non-existent textile companies from 2008 to 2014, Department of Finance (DoF) officials announced in a press conference on Friday, saying they received the July 6 audit report on July 10.
PHL growth view steady despite inflation
THE ASIAN Development Bank (ADB) retained its growth forecasts for the Philippines despite faster projected inflation in its Asian Development Outlook Supplement published on Thursday.
ODA use improves
USE of official development assistance (ODA) loans improved in 2017 while total aid portfolio actually declined, the National Economic and Development Authority (NEDA) said in a statement on Thursday.
Gov’t takes stock of performance
A GOVERNMENT SCORECARD that plots the Philippines’ progress in hitting economic development targets bared progress in macroeconomy, justice, human capital and environment, but poor performance in agriculture, housing and governance.
Regulator cuts mobile call, SMS charge
THE NATIONAL TELECOMMUNICATIONS Commission (NTC) has cut the interconnection charge for short message service (SMS) and mobile calls with the goal of making them “more affordable to the general public.”
Fitch affirms PHL’s investment grade
FITCH RATINGS has kept its credit rating for the Philippines a notch above minimum investment grade amid strong growth prospects, even as it flagged rising inflation, rapid bank lending and a growing trade gap that could signal overheating risks.
DoF notes select taxes exceeded first-half targets
INCOME, percentage and excise tax collections of the Bureau of Internal Revenue (BIR) exceeded targets last semester, the Department of Finance (DoF) said in a statement on Wednesday.
WTO credibility, survival at risk from trade war
GENEVA -- The credibility and survival of the World Trade Organization (WTO) is under “serious threat” as major economies put up protectionist barriers, independent experts warned on Tuesday.
NEDA seeks continuity in infrastructure development
THE GOVERNMENT is taking steps to persuade the succeeding administration to carry on stepped-up infrastructure development, even as a looming shift in form of government adds to uncertainties now hounding the economy, the state socioeconomic planner said on Monday.
BSP says in ‘firm’ control as prices spike
The BANGKO SENTRAL ng Pilipinas (BSP) continues to have a firm hand on inflation, its chief said amid mounting calls for a more aggressive rate hike next month.