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Philippines moves up to 4th place in ASEAN FDI

MANILA, Philippines — The Philippines has moved up to the upper half of the 10-country Association Southeast Asian Nations (ASEAN) in attracting foreign direct investments (FDI) after settling at the bottom half and in the middle of the pack the previous years. The country emerged the fourth largest recipient of FDIs in the region in […]

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Trump open to free trade talks with Philippines

MANILA, Philippines — US President Donald Trump has accepted a proposal from the Philippines to explore a bilateral free trade agreement (FTA) with the world’s largest economy. “During a bilateral meeting between the Philippines and US, we were able to raise to President Trump and US delegation the growing trade between the two countries. We […]

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Philippine outsourcing industry braces for AI

MANILA (Reuters) – The outsourcing industry in the Philippines, which has dethroned India as the country with the most call centres in the world, is worried that the rise of artificial intelligence (AI) will eat into the $23 billion sector. AI-powered translators could dilute the biggest advantage the Philippines has, the wide use of English, […]

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Philippines: BSP keeps interest rates intact

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) kept interest rates unchanged yesterday, but raised the inflation forecast for 2018 amid rising oil prices, higher liquidity in the financial system and the weak peso. BSP Governor Nestor Espenilla Jr. said the Monetary Board retained the interest rate on the overnight reverse repurchase facility at […]

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Philippines: Government eyes tax amnesty program in 2018

MANILA, Philippines — The government may implement next year a tax amnesty program aimed at improving taxpayer compliance and boosting government revenue, the Department of Budget and Management (DBM) said yesterday. During the Philippine Economic Society’s annual meeting yesterday, Budget Secretary Benjamin Diokno said the government is serious in its crackdown against tax evaders to […]

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