MANILA, Philippines — The government on Tuesday reminded oil companies to ensure they have enough inventory amid the expected surge in global demand that could cripple supply and push up prices. In a statement, Energy Secretary Alfonso Cusi called on oil firms to ensure their compliance with the Minimum Inventory Requirements (MIR), which mandate companies […]
Read MoreMANILA, Philippines — Inflation likely accelerated for the second straight month in September, breaching the five percent level for the first time in almost three years on the back of elevated food prices, rising pump prices of petroleum products, and more expensive power rates. Security Bank chief economist Robert Dan Roces said inflation likely picked […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) supports a proposal to impose a 12 percent value-added tax (VAT) on all digital transactions. During the European-Philippine Business Summit, BSP Governor Benjamin Diokno said the desire to tax digital transactions is universal for both developed and emerging economies like the Philippines. “So I think there […]
Read MoreThe national government’s gross borrowings fell to P111 billion in August, bringing the year-to-date total to P2.38 trillion, data from the Bureau of Treasury (BTr) showed. The actual gross financing in the eighth month of 2021 was P111.70 billion, down from P612.91 billion a year before by 81.77 percent. Domestic borrowings plunged by 82.72 percent to P100.96 […]
Read MoreThe Philippine index is expected to monitor the country’s pandemic situation, along with the print of the September inflation rate, the developments global oil prices, and the performance of the Philippine peso this trading week. Philstocks Financial Inc. senior research analyst Japhet Tantiangco sees the movement of the local bourse this trading week to be dependent on the local Covid-19 situation, as […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said inflation likely settled at 4.8 to 5.6 percent in September, following its acceleration to a 32-month high of 4.9 percent in August. In his weekly virtual press conference, BSP Governor Benjamin Diokno said inflation last month was driven by the upward adjustments in domestic oil […]
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