PHL likely to be ASEAN+3’s 2nd fastest-growing economy
THE PHILIPPINES will likely post the second-fastest growth in the Association of Southeast Asian Nations Plus 3 (ASEAN+3) region this year and in 2025,...
BSP may consider 50-bp rate cut on Thursday
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Monday said they may consider a 50-basis point (bp) policy rate cut at its meeting on Thursday, after the US Federal Reserve’s emergency rate cut triggered policy easing by other central banks as they try to soften the blow of the coronavirus disease 2019 (COVID-19) to the global economy.
Senate chief says approval of higher ‘sin’ tax rates within the year ‘possible’
THE FINANCE CHIEF is pushing for approval of the measure increasing excise tax rates on alcohol and tobacco products, as well as e-cigarettes and vapor products before lawmakers go on their Christmas break -- a timetable the Senate president said would be “possible” provided there is not too much divergence on rates between the House and the Senate versions.
February budget gap widens
THE NATIONAL GOVERNMENT’S (NG) budget deficit ballooned in February amid double-digit growth in state spending, the Bureau of the Treasury (BTr) reported on Monday.
Data...
BoI says likely to miss this year’s investment target
THE Board of Investments (BoI) is unlikely to meet its target to approve P905 billion in investment pledges this year, as a fresh surge in coronavirus disease 2019 (COVID-19) dampened investor sentiment.
Philippine watchdog flags lawmaker, officials in P289.5-M flood project scam
The Independent Commission for Infrastructure (ICI) has tagged 18 people as being “potentially responsible” for irregularities in a P289.5 million flood-control project in Naujan,...
Aboitiz Group to cut jobs
THE Aboitiz Group is laying off employees as a way to cope with the financial impact of the coronavirus disease 2019 (COVID-19) pandemic.
US economy no longer overheated, says Fed’s Powell
WASHINGTON — The US is “no longer an overheated economy” with a job market that has cooled from its pandemic-era extremes and in many...
Shares rise on bargain-hunting before Fed move
PHILIPPINE STOCKS closed higher on Tuesday as players picked up cheap stocks following the market’s two-day slide, but sentiment remained cautious before the US...
US to give Philippines $250 million to tackle health needs
WASHINGTON - The Trump administration plans to give the Philippines an additional $250 million to address tuberculosis, maternal health and the threat of emerging...
Elevated inflation may push central bank to further hike rates
RISING INFLATION may prompt the Bangko Sentral ng Pilipinas (BSP) to consider more rate hikes this year, according to Fitch Solutions Country Risk & Research.
BIR to extend ITR filing deadline for companies
THE BUREAU of Internal Revenue (BIR) is extending the deadline for the filing of annual income tax returns (ITR) for corporate taxpayers, following the recent surge in coronavirus cases and the President’s delay in signing into law the measure to bring down corporate income tax.