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Moody’s retains stable outlook for Philippine banks

MANILA, Philippines — Easing COVID restrictions may further improve the operating environment and slow the growth of problem loans of Philippine banks, according to Moody’s Investors Service. In its latest banking system outlook for the Philippines titled “Recovering Economy and Profitability Support Stable Outlook,” Moody’s maintained the stable outlook for the country’s banking system. With […]

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Philippines to import sugar due to low supply

MANILA, Philippines — The current supply of sugar in the domestic market may no longer be enough by June, prompting the government to defend its plan to push through with the importation of the commodity. In a statement, the Sugar Regulatory Administration (SRA) defended its order to bring in 350,000 metric tons of sugar, a […]

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Philippines: DOF pushes adjustment of real estate tax

MANILA, Philippines — The Department of Finance (DOF) has asked local governments to adjust their real estate taxation as they are losing billions in resources because of outdated valuation of properties. Finance Secretary Carlos Dominguez said legislating real property valuation reform would allow local governments to collect the right taxes by updating the schedule of […]

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