MANILA, Philippines — With public funds not enough to meet infrastructure needs, European businesses are calling on governments in Southeast Asia to create a favorable environment to encourage greater private sector participation in projects. In a report titled “Bridging the Gap: Funding of Sustainable Infrastructure in ASEAN (Association of Southeast Asian Nations),” the European Union […]
Read MoreMANILA, Philippines — The government will grant tax incentives to various tourism enterprises for the renovation or modernization of their facilities in line with upgrading health and safety protocols, the chief of the Department of Tourism (DOT) said. “The Board of Investments (BOI) has approved tax incentives that can be given to tourism enterprises that […]
Read MoreMANILA, Philippines — The country’s trade deficit narrowed to a new two-year low of $500 million in April as steep declines were registered in both imports and exports during the month, the Philippine Statistics Authority (PSA) reported yesterday. Total external trade in goods last April reached $6.07 billion, down by 59.8 percent from $15.10 billion […]
Read MoreMANILA, Philippines — A record pullback in both imports and exports dramatically shrank the Philippines’ trade gap to the lowest in more than five years in April as a shutdown of economies to stem the spread of coronavirus infections inadvertently strangled the flow of goods. Trade deficit narrowed to $499 million in April, 86.9% down […]
Read MoreMANILA, Philippines — The World Bank expects the Philippine economy to contract by 1.9 percent this year, reflecting the disruptions caused by the coronavirus pandemic as well as multiple economic shocks in the beginning of the year. This will be the first annual contraction for the economy since the Asian financial crisis when the economy […]
Read MoreMANILA, Philippines — Banks’ bad loans went up by 18.3 percent to P252.64 billion as of end-April from P213.51 billion in the same period last year amid the sharp rise in past due as well as restructured loans due to the coronavirus disease 2019 or COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas. Data […]
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