Senate hearing starts on higher liquor tax rates
EVEN with the window fast closing on final legislative approval of any more tax reform in the current 17th Congress, the Senate Committee on Ways and Means on Wednesday started action on bills seeking to increase the excise tax rate on alcohol products.
Duterte rejects reclamation in Manila Bay
PRESIDENT Rodrigo R. Duterte on Saturday said he would not allow the private sector to pursue new reclamation projects in Manila Bay, saying these will put the Philippine capital environmentally in peril.
PHL economic freedom ranking improves
THE PHILIPPINES’ economic freedom ranking went up four places after improved scores in “sound money” measuring inflation and money growth, according to a global report that measured 2019 data.
PHL has room to raise taxes — IMF
THE PHILIPPINES’ fiscal consolidation plan may be too “ambitious,” the International Monetary Fund (IMF) said, noting that the government still has room to raise taxes to generate much-needed revenues.
BSP eyes issuance of new polymer banknotes in Q1
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to issue the country’s first polymer banknote series by the first quarter of 2025.
Philippine factory activity surges to 2-year high in January
PHILIPPINE manufacturing activity rose to a 25-month high in January, as improved customer demand led to higher production, a survey conducted by IHS Markit showed.
Philippines’ top 1000 corporations bounced back in 2021
THE PHILIPPINES’ top 1,000 corporations bounced back in 2021, with their combined gross revenues hitting P13.44 trillion as the economy slowly recovered from the...
Inflation picks up in November, fastest in 21 months
The overall year-on-year increase in prices of widely used goods accelerated to its fastest pace in 21 months in November, the Philippine Statistics Authority...
BSP orders freeze on InstaPay, PESONet fee hikes
THE BANGKO SENTRAL ng Pilipinas (BSP) imposed a moratorium on increases in InstaPay and PESONet fees for person-to-person fund transfers, in a bid to hasten the Philippines’ transition into a cash-lite economy.
Meralco customers to see lower bills in December
RESIDENTIAL CUSTOMERS in areas served by Manila Electric Co. (Meralco) will see lower electricity bills in December amid a drop in generation charges.
PHL current account deficit seen to narrow this year – IMF
The International Monetary Fund (IMF) expects the Philippines’ current account deficit to narrow this year.
“The current account deficit is projected to narrow from 3.8%...
Philippines unlikely to hit 2024 growth target after typhoons disruption, minister says
MANILA - The Philippines may have likely missed its growth target last year due to economic disruption from a spate of typhoons in the...