phil05
Read More

‘Philippines recession to last until 2021’

MANILA, Philippines — The Philippine economy continues to lose steam and is poised to remain in recession until 2021 amid the raging COVID-19 pandemic, according to Dutch financial giant ING Bank. In a report, ING Bank Manila senior economist Nicholas Mapa said  there is little hope of a big turnaround for the Philippines in 2021 […]

Read More
phil01
Read More

Philippines: Companies likely to cut 2021 capex

MANILA, Philippines — Companies may further reduce their capital expenditures next year despite the gradual recovery of the economy as they need to protect their balance sheets, according to top company officials. JG Summit Holdings Inc. president and CEO Lance Gokongwei said there is a need to protect the balance sheet especially as many businesses […]

Read More
phil04
Read More

Philippines: Home sector wants delay on TRAIN-era tax in low-cost houses

MANILA, Philippines — Housing regulators backed appeals from homebuilders to postpone levying taxes in low-cost houses next year while the pandemic rages on, a levy that could end up getting passed to buyers through expensive prices that the poor may not afford. “This will surely have a significant impact on the sales of real properties intended for low-income buyers,” Housing […]

Read More