State mining body to review audit findings
THE MINING Industry Coordinating Council (MICC) will convene on Wednesday to discuss the final report of a technical review team on the mines ordered closed or suspended last year by the Department of Environment and Natural Resources (DENR).
Cavite government’s Sangley airport plan gets green light from Transportation dep’t
THE DEPARTMENT of Transportation (DoTr) has given the green light to the Cavite provincial government’s plan to build an airport at the former US naval facility at Sangley Point, Cavite.
Poland may take Filipino workers — minister
WARSAW -- Poland, whose right-wing government opposes taking in migrants, may have to look to Filipino workers to cover a growing labor shortage hurting the economy, a senior official said Saturday.
BSP simplifies rules for banks’ bond floats
THE CENTRAL BANK has simplified rules for lenders issuing bonds to raise additional capital, its chief said, which is expected to replace long-term note offerings.
Central bank eyes ‘national QR code’ for retail payments
THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.
S&P cautions on tax reform uncertainty
PROLONGED UNCERTAINTY over tax reform could weigh on investor appetite towards the Philippines, S&P Global Ratings said on Thursday in the wake of reports that lawmakers could be hesitant to approve measures involved as the May 2019 midterm elections draw closer.
Bank reserve requirement steady for now — BSP
THE BANGKO SENTRAL ng Pilipinas (BSP) will not introduce further cuts in required bank reserves this year, its chief said, and may pause until inflation eases back on target in 2019.
Economic managers nix lower deficit ratio
STATE economic managers have bucked the International Monetary Fund’s (IMF) recommendation for the government to reduce its budget deficit ceiling, citing the need to speed up implementation of major infrastructure projects.
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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.