MANILA, Philippines — A reduction in the corporate income tax, complemented by reforms in the tax incentives system, will drive economic growth, create more jobs, and lower poverty incidence in the country, according to a study commissioned by the Department of Labor and Employment (DOLE). Based on the study, the proposed reforms under the Corporate […]
Read MoreMANILA, Philippines — Purchasing Managers Indexes (PMIs) for manufacturing in Asia are expected to have improved in August from July as demand recovers slowly, according to London-based think tank Capital Economics. In a research paper, the think tank said second waves of COVID-19 infection and economic scars from the pandemic would continue to weigh on […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has further extended operational relief measures by relaxing the guidelines on foreign exchange transactions amid the pandemic. BSP Deputy Governor Francisco Dakila Jr. said the regulator has temporarily lifted the prescriptive periods for the submission of application for registration of foreign investments, notice to the BSP […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Philippines (BSP) is looking at investing more in green bond funds as it ramps up sustainable finance framework by encouraging banks to issue more green, social and sustainability bonds. In a virtual press conference, BSP Governor Benjamin Diokno said the central bank invested an additional $200 million in […]
Read MoreMANILA, Philippines — More foreign funds exited the Philippines for the fifth straight month in July as investors continued to liquidate their holdings due to global uncertainties brought about by the coronavirus pandemic, according to the Bangko Sentral ng Pilipinas (BSP). Foreign portfolio investments or hot money recorded a net outflow of $453.17 million in […]
Read MoreMANILA, Philippines — More foreign funds flew out of the Philippines than entered for the fifth straight month in July, bucking optimism of an economic rebound after strict lockdowns were eased. Foreign portfolio investments recorded a net outflow of $453.17 million last month, nearly double the previous month’s level, the Bangko Sentral ng Pilipinas (BSP) […]
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