Foreign business groups welcome infrastructure drive, but worry about changing incentives regime
FOREIGN CHAMBERS welcome the government’s infrastructure development push and unveiled their annual list of recommendations to further push this drive, but believe efforts to streamline incentives would make the country less attractive to investments.
Emerging value in Asia’s stocks not enough to win investors
HONG KONG — Asian stocks are trading at a two-year low versus the rest of the world, but most of the region’s emerging markets are still failing to attract investors.
Trade gap widens on import surge
By Carmina Angelica V. Olano, Researcher
FLAT merchandise export sales and inbound foreign goods’ continued surge caused the country’s trade gap to widen further in...
Senate sets work on 2nd tax reform
THE SENATE will start next week committee-level work on the second tax reform package designed to overhaul the corporate tax and incentives scheme.
Banks increase exposure to real property sector
BANKS lent out more funds to the real property sector as of June, although growth slowed from the previous quarter as interest rates climbed.
June fuels first-half FDI surge
NET INFLOWS of foreign direct investments (FDI) to the Philippines increased anew in June, helping to fuel a first-half surge that pushed the tally closer to an official full-year forecast, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday.
House OK’s second tax reform
WITH 187-14-3 votes, the House of Representatives on Monday approved on third and final reading the second of up to five planned tax reform tranches that cuts the corporate income tax (CIT) rate and removes fiscal incentives deemed redundant.
No currency sword of Damocles over the Philippines for now
THE PHILIPPINES is not expected to slip into a currency crisis anytime soon, Nomura economists said, citing little risk of such an event despite the recent weakness of the peso.
Peso seen in for more pain
THE PHILIPPINE PESO could be in for greater pain despite the country’s strong economic growth, with major money managers bearish on the currency.
Credit raters cautious on political noise
DEBT WATCHERS are cautious over increased political noise due to moves to persecute another of President Rodrigo R. Duterte’s critics and changes at the Supreme Court, even as one said these developments are unlikely to alter its assessment on the country unless they dampen business sentiment.
China’s record trade surplus with US adds fuel to trade war
BEIJING — China’s trade surplus with the United States widened to a record in August even as the country’s export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their cantankerous trade dispute.
BSP likely to raise rates by another 50 bps
THE CENTRAL BANK will likely raise interest rates by another 50 basis points (bps) in the coming weeks following faster-than-expected August inflation, a global research firm said, even as price pressures due to oil and food products are seen to ease.