Meralco bares rate hike from tax reform
THE Manila Electric Co. (Meralco) expects an 8-centavo increase in electricity cost per kilowatt-hour (/kWh) as early as next month with the application of...
BIR sets floor price for tobacco, vapor products
THE BUREAU of Internal Revenue (BIR) issued guidelines on how to determine the floor price for cigarettes, as well as heated and vapor tobacco products.
House open to ‘safe harbor’ provision in Bank Secrecy Law amendments
THE HOUSE of Representatives is open to the banking industry’s request for a “safe harbor” clause in the proposed amendments to the Bank Secrecy Law.
House OK’s tax on digital services
THE HOUSE of Representatives on Tuesday evening approved a bill that would impose a 12% value-added tax (VAT) on digital transactions in the country, which would affect global tech giants such as Facebook, Inc., Netflix, Inc., and Alphabet, Inc.
ERC rushes power supply deals for electric co-ops
THE ENERGY Regulatory Commission (ERC) is ramping up the approvals of power supply agreements (PSAs) to minimize electric cooperatives’ (co-ops) exposure to the Wholesale...
BSP official says even reserve requirement cut now may be ill-timed
ANOTHER senior central bank official made the case for steady monetary policy settings at this week’s meeting, saying it may not be opportune to cut even banks’ reserve requirement just yet.
Moody’s: Virus surge, lockdown ‘credit negative’ for PHL
THE SPIKE in coronavirus infections and the subsequent lockdown restrictions are “credit negative” to the Philippines’ rating, as these may hinder economic recovery and reverse the improvements in the labor market, according to Moody’s Investors Service.
AMLC promises ‘thorough’ probe of Wirecard
MANILA — The Philippines’ anti-money laundering agency on Monday said it would conduct a “swift and thorough” investigation into scandal-hit German payment firm Wirecard AG and that it has drawn up an initial list of people and entities of interest.
Disasters, debt crisis are seen as top risks for PHL
NATURAL DISASTERS are considered the top risk faced by the Philippines over the next two years, alongside a possible debt crisis, rising inflation and...
PHL not ready for sovereign wealth fund — analysts
THE PHILIPPINES is not ready for a sovereign wealth fund amid the lack of fiscal space and high debt levels, as well as concerns over possible mishandling of public funds, analysts said.
PHL on track to hit medium-term targets — Diokno
THE PHILIPPINES is on track to achieve its growth and fiscal targets in the Medium-Term Fiscal Framework (MTFF) due to the “better-than-expected” revenue and...
3 Japan firms keen on Manila subway contract
AT LEAST THREE Japanese firms, including one of the maintenance providers of Metro Rail Transit Line 3 (MRT-3), signaled interest in bidding for the contract to provide train sets and electrical and mechanical (E&M) systems for the Metro Manila subway project.