2nd tax package runs into Senate wall
PRESIDENT RODRIGO R. DUTERTE may have given marching orders last Monday for Congress to approve his administration’s remaining tax reforms “in succession, for there is no chance that we can deliver our promises without an equitable tax system.”
BSP says to make FX mart more transparent
THE BANGKO SENTRAL ng Pilipinas (BSP) plans to impose rules on the foreign exchange market that will improve transparency amid bigger trading volumes.
IMF: Central bank needs to raise interest rates more to rein in price pressures
THE International Monetary Fund (IMF) said the central bank may need to tighten benchmark interest rates further to rein in inflation, which it described as one of the biggest risks to an otherwise “favorable” outlook for the Philippine economy.
2019 budget assumptions in focus
PRESIDENT Rodrigo R. Duterte submitted the proposed 2019 national budget to Congress after his State of the Nation Address (SONA) on Monday, setting into motion legislative hearings which, economists said, will do well to pay close attention to changing economic conditions.
FMIC cites wisdom of borrowing offshore
GOVERNMENT plans to borrow more funds abroad will help the state manage debts better, even amid rising interest rates and a weaker peso, a senior officer of one of the country’s biggest investment banks said.
DoF: Cost of tax perks outweighs benefits to economy
THE COST of granting tax incentives to companies registered with investment promotion agencies (IPAs) outweighs their overall benefits to the economy, the Department of Finance (DoF) said on Tuesday.
Revenues, spending top 1st half targets
STATE revenues and spending topped targets last semester, even as the deficit was 27% off program as revenue growth outstripped that of disbursements, the Treasury bureau reported on Monday ahead of President Rodrigo R. Duterte’s annual speech to Congress.
3rd SONA pitches priorities amid struggle for House helm
PRESIDENT Rodrigo R. Duterte, in his third State of the Nation Address (SONA) on Monday, reaffirmed key policies of his administration such as the drive against corruption in behalf of ease of doing business, as well as environmental rehabilitation, vowing to step up these initiatives in partnership with Congress.
FDI commitments surge in first semester — BoI
THE BOARD of Investments (BoI) saw value of committed foreign direct investments (FDIs) grow nearly threefold last semester, fueling a 27% increase in total pledges -- including from Filipinos -- in that period, according to data released on Monday.
Economists see wage-fueled price spikes
BANK ECONOMISTS expect inflation to clock in faster in 2018 and to remain elevated over the next two years, as daily minimum wage increases add to price pressures.
BSP seen hawkish till first half of next year
DEUTSCHE BANK expects the Bangko Sentral ng Pilipinas (BSP) to raise policy interest rates until the first half of 2019, taking cue from more “hawkish” statements of policy makers in past weeks.
Business cites issues ahead of 3rd SONA
BUSINESSMEN will perk up their ears as President Rodrigo R. Duterte delivers his third State of the Nation Address (SONA) today amid improvements in state finances as well as perceived mounting overheating and political risks, hoping to hear about steps to further improve the environment in which they operate.