MANILA, Philippines — The Energy Regulatory Commission (ERC) has allowed distribution utilities (DUs) and retail electricity suppliers (RES) to defer electricity billings falling due within the extended enhanced community quarantine. In its latest advisory, the ERC directed all DUs and RES not to impose interest, penalties, fees and other charges. Moreover, the power regulator said […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) delivered on Thursday fresh monetary stimulus outside schedule, pushing down key rates to new record-lows. In a Viber message to reporters, BSP Governor Benjamin Diokno said the central bank slashed its overnight reverse repurchase rate by 50 basis points to 2.75% effective Friday. The rates on […]
Read MoreMANILA, Philippines — The country enjoyed a surplus of $839 million in its balance of payments (BOP) position in February, 78 percent higher than the $467 million recorded in the same month last year as more dollars flowed into the country, according to the Bangko Sentral ng Pilipinas (BSP). The BOP surplus in February reflected […]
Read MoreMANILA, Philippines — The supply of food products in Luzon is seen to get a boost as food manufacturers are now operating at 80 to 90 percent capacity, the Department of Trade and Industry (DTI) said. “We can now catch up with the supply of some products because we allow them now to operate at […]
Read MoreMANILA, Philippines — US exporters continue to face barriers to expanding trade with the Philippines such as corruption, phytosanitary and sanitary measures, foreign investment restrictions, as well as concerns on intellectual property (IP) protection, the Office of the US Trade Representative (USTR) said. In its 2020 National Trade Estimate Report on Foreign Trade Barriers, USTR […]
Read MoreMANILA, Philippines — The deadline for income tax payments was extended anew until the end of May, while reporting for other levies was also pushed back as part of government reprieve to taxpayers amid the coronavirus disease-2019 (COVID-19) outbreak. The new rules, laid out under Revenue Regulations 10-2020, will benefit taxpayers and businesses whose movements […]
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