Oct. remittance data bare GDP boost
MONEY sent home by overseas Filipino workers (OFWs) grew by its fastest clip in six months in October, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday, prompting analysts to expect household spending that fuels overall economic growth but whose growth has slowed lately to have picked up this quarter.
House measure seeks to form office to monitor, push priority infrastructure
A BILL establishing a one-stop shop for priority infrastructure projects has been filed at the House of Representatives.
DoF still banks on watered-down tax amnesty program to deliver
THE DEPARTMENT OF FINANCE (DoF) remains hopeful that an impending tax amnesty program that has been ratified by Congress -- but without two provisions initially designed to help verify claims made by delinquents in their applications -- will grow the ranks of taxpayers in the country.
China’s outcast steel machines find unwelcome home in SE Asia
MANILA -- China banned induction furnaces last year in a crackdown on polluting producers of low-quality steel, but these machines have made their way to parts of Southeast Asia, hitting domestic steelmakers and fueling safety and environmental concerns.
Better PHL-China ties expected to boost construction
IMPROVED BILATERAL relations between the Philippines and China will boost the construction industry, according to the Fitch Group’s research arm, as it raised its forecast for that sector.
Energy department plans to scrap charge for off-grid area subsidy
THE DEPARTMENT of Energy (DoE) plans to issue by next week a missionary electrification policy for off-grid areas that will lead to detailed circulars, including one that will end the collection from consumers of funds for rural power development.
‘Hot money’ returns in November
MORE foreign portfolio investments -- also known as “hot money” for the ease by which these funds enter and leave financial markets -- came into the Philippines in November, according to data the Bangko Sentral ng Pilipinas released on Friday that bared a reversal from two straight months of net outflows.
Wider trade gap seen in 2018, 2019 — BSP
THE central bank expects external trade to balloon to a wider deficit this year and in 2019 as imports are seen to surge faster and as global growth tapers off.
Water rates to go up in January
CUSTOMERS served by Metro Manila’s two water concessionaires will notice a slight increase in their bills starting Jan. 1, after the Metropolitan Waterworks and Sewerage System (MWSS) approved rate adjustments based on inflation and the movement of the peso against the US dollar.
Policy rates steady on inflation view
MONETARY AUTHORITIES held fire on policy rates on Thursday, marking the end of five straight tightening moves this year, amid expectations that inflation will decelerate faster than initially thought.
BSP sets additional capital buffer for banks
THE BANGKO SENTRAL ng Pilipinas (BSP) has approved a new measure meant to boost banks’ capital to equip them further to weather episodes of financial stress.
Comprehensive tax amnesty just a step away from enactment
THE PLANNED TAX AMNESTY program is now up for signing by President Rodrigo R. Duterte after the House of Representatives and the Senate ratified the measure on Wednesday and Thursday, respectively.