MANILA, Philippines — The Department of Finance is studying possible revisions in the Comprehensive Tax Reform Program (CTRP) to help sectors severely affected by the coronavirus disease 2019 or COVID-19 outbreak, according to DOF Secretary Carlos Dominguez. Dominguez said this in response to acting Socioeconomic Secretary Karl Kendrick Chua’s statement that the CTRP may need […]
Read MoreMANILA, Philippines — The government may extend loan assistance to private schools and businesses in the tourism sector to help them cope with the impact of the coronavirus disease 2019 or COVID-19 pandemic, according to the Department of Finance (DOF). During a virtual meeting with Congress’ Defeat COVID-19 sub-committee on economic stimulus technical working group, […]
Read MoreMANILA, Philippines — Stakeholders from the meetings, incentives, conventions and exhibitions (MICE) sector are urging the government to prioritize the recovery of the sub-sector over leisure tourism as it would help jumpstart the economy. “If you keep MICE as a priority, the industry will appreciate it and it will really bring the economy back faster […]
Read MoreMANILA, Philippines — The central bank has conducted a stress test on banks to assess their capacity to take in heavy losses during the coronavirus disease-2019 (COVID-19) outbreak and community lockdowns that disrupted their business. “We are looking at the impact of the coronavirus pandemic on the bank industry,” central bank Governor Benjamin Diokno told Philstar.com in […]
Read MoreMANILA, Philippines — Large stocks of oil are sitting idly in the country’s storage facilities with nowhere to go as nationwide and localized lockdowns crippled demand for fuel, triggering an unlikely problem in one of Southeast Asia’s top oil importers. While beneficial for the Philippine economy as a whole, an oil price slump is fanning […]
Read MoreMANILA, Philippines — The Philippines is seen as an attractive market for global liquefied natural gas (LNG) suppliers in the next few years as it looks for alternatives to the depleting Malampaya deepwater gas-to-power project. In its latest commentary, Fitch Solutions Macro Research said that from a price standpoint, the next few years are likely […]
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