Lifting of bank secrecy ‘possible’ in the Senate
APPROVAL by early next year of the measure that will authorize government to look into bank accounts is “possible,” Senate President Vicente C. Sotto III said on Monday.
Philippines plans 1st retail bond under Marcos
THE BUREAU of the Treasury (BTr) is planning to raise at least P30 billion in the first retail Treasury bond (RTB) issue under the Marcos administration.
Philippines cuts GDP growth outlook as virus surges
THE GOVERNMENT slashed its economic growth target to 4-5% for this year, reflecting the impact of stricter lockdown measures aimed at curbing a Delta-driven surge in coronavirus disease 2019 (COVID-19) infections.
‘Good reception’ seen as RTB sale begins
THE FIRST DAY of sale of the three-year retail Treasury bonds (RTB) bared strong demand for the debt papers amid ample liquidity in the market.
Philippine credit downgrade imminent — ING
By Beatrice M. Laforga, Reporter
The Philippines should brace for a credit rating downgrade next year after Fitch Ratings adjusted its outlook to negative from stable on dimming growth prospects, an...
Gov’t mulls sale of stake in SCTEx
THE DEPARTMENT of Finance (DoF) is looking to sell the government’s stake in the Subic-Clark-Tarlac Expressway (SCTEx), possibly to state pension funds, in order...
Car industry eyes recovery in 2023
THE AUTO INDUSTRY expects to recover back to pre-pandemic sales as late as 2023 after operations suffered from the effects of the pandemic, Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) President Rommel R. Gutierrez said.
PHL helps spur ASEAN factory activity
THE PHILIPPINES stayed second in terms of manufacturing performance in the Association of Southeast Asian Nations (ASEAN) in May, despite logging its best Purchasing Managers’ Index (PMI) reading so far for the year.
NCR wage increase likely in July, says Labor chief
A WAGE INCREASE in the Philippine capital and nearby cities is likely in July, based on past decisions by the regional wage board, according to the country’s Labor chief.
IT-BPM industry still bullish on growth
THE INFORMATION TECHNOLOGY and business process management (IT-BPM) industry is targeting to generate as much as $59 billion in revenues by 2028, as it sees continued growth despite the dimming global outlook.
Philippines first in Asia for World Bank’s catastrophe-linked bonds
THE WORLD BANK has issued three-year catastrophe-linked bonds (CAT) on behalf of the Philippines that could amount to $225 million worth of financial protection against earthquakes and tropical cyclones, the multilateral lender said in a statement on Monday.
Gov’t on road show to draw interest to energy auction
THE DEPARTMENT of Energy (DoE) is taking to the United States and other parts of the globe its road show to drum up interest in the Philippine Conventional Energy Contracting Program (PCECP) after it extended the deadline for investors to submit their application to explore pre-determined oil and gas reserves in the country.