MANILA, Philippines — The Department of Finance (DOF) is planning to submit to Congress Packages 3 and 4 of the Comprehensive Tax Reform Program (CTRP) by the end of the month, according to Finance Secretary Carlos Dominguez. Dominguez said the agency would soon be handing over to Congress its proposal on the two tax reform […]
Read MoreMANILA, Philippines — The implementation of the tax reform law at the start of the year boosted the sales of convenience store giant Philippine Seven Corp. (PSC) by 23 percent in the first half. Lawrence de Leon, head of finance at PSC, said in a disclosure that system-wide sales amounted to P22.17 billion from January […]
Read MoreMANILA, Philippines — More foreign capital went out of the Philippines for a second consecutive month, reflecting market jitters stoked by rising inflation and a weaker peso, the Bangko Sentral ng Pilipinas reported on Thursday. Registered foreign portfolio investments, also known as “hot money” for their volatility, recorded a net outflow of $516 million in […]
Read MoreMANILA, Philippines — Global tech parts giant Cal-Comp Technology (Philippines) Inc. is spending the proceeds of its planned P6.77 billion initial public offering to expand its operations, acquire new equipment, and focus on research and development as it grooms the country as its next hub in Southeast Asia. New Kinpo Group chief executive officer Simon […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is urging correspondent banks to embrace innovation and rethink strategies as the rapid evolution of digital technology continued to revolutionize financial product and banking service delivery. In his keynote address at the annual convention of the Association of Philippine Correspondent Bank Officers, BSP Governor Nestor Espenilla […]
Read MoreMANILA, Philippines — A total of 52.8 million Filipino adults do not have bank accounts amid the heightened efforts of the Bangko Sentral ng Pilipinas (BSP) to promote financial inclusion. Results of the BSP’s 2017 Financial Inclusion Survey (FIS) show 60 percent of the respondents reported not having enough money as the main reason for […]
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