State spending to sustain GDP growth
THE Organization for Economic Cooperation and Development (OECD) sees Philippine economic growth sustaining its 2017 growth pace until next year on the back of government spending that will take up the slack from weaker private consumption and export growth.
DoF lines up more tax reforms
THE DEPARTMENT of Finance (DoF) plans to submit to Congress this month the tax reform packages on property valuation and passive income.
State economic managers cautious on federal system — Pernia
STATE economic managers are lukewarm to implementing federalism in the Philippines since many regions may be ill-prepared to stand on their own feet, the chief socioeconomic planner said.
BSP seeks to allay inflation worries from RRR reduction
ADDITIONAL money supply due to cuts in bank reserves has been siphoned by the central bank’s open market operations, its chief said, as he sought to dispel worries that these adjustments offset rate tightening moves.
WB maintains Philippine growth forecast
THE World Bank sees stronger growth during the second half of 2018 on the back of stronger public spending, with the Philippine economy expected to sustain its pace despite global headwinds.
Hot money flows bare investor unease
MORE FOREIGN FUNDS fled the Philippines in June -- marking the second straight month of net outflows -- as concerns about rising inflation and a weaker peso dampened investor appetite, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
Banks’ bad debts rise, still deemed manageable
BAD DEBTS held by big banks grew in May but accounted for a small share of total lending, according to latest data released by the Bangko Sentral ng Pilipinas (BSP).
Napocor seeking bigger missionary electrification charge for next year
THE NATIONAL POWER CORP. (Napocor) is seeking provisional approval to collect a total of P17.8 billion from electricity users next year, through a P0.1948 per kilowatt-hour (/kWh) charge in their power bills, to cover electrification of “far-flung areas” of the country.
Philippine banking industry explores blockchain use
THE BANGKO SENTRAL ng Pilipinas (BSP) and commercial banks are exploring ways to use blockchain technology to fast-track payment and remittance services.
PHL, US to start free trade talks in September
THE PHILIPPINES will begin negotiations on a free trade agreement (FTA) with the United States in September, its ambassador to Washington said on Thursday, in a bid to expand market access for its agricultural products.
Asia’s newest millionaires swap basket-case economy for fine art
IN THE PHILIPPINES, where a fifth of the country lives beneath the poverty line, locals have a new obsession: fine art.
DBM chief warns of SC ruling’s fiscal risk
THE GOVERNMENT’S fiscal position may be at risk from the Supreme Court (SC) ruling that local governments’ share in state revenues includes all national government taxes, not just those collected by the Bureau of Internal Revenue (BIR), Budget Secretary Benjamin “Ben” E. Diokno said on Wednesday.