MANILA, Philippines — The Philippines moved up to 67th place out of 129 economies in this year’s International Property Rights Index from 70th last year, amid improvements in two out of three components tracked by the report such as physical property rights and intellectual property rights (IPR). Developed by the Property Rights Alliance which promotes […]
Read MoreMANILA, Philippines — The Philippines will likely miss its growth targets for this year and the next after the economy underperformed in the second quarter and as external headwinds bite, the International Monetary Fund reported Wednesday. In its new “World Economic Outlook” report, the Washington-based global lender said it expects the Philippine economy to grow 5.7% […]
Read MoreMANILA, Philippines — Money sent home by overseas Filipino workers rose in August, the Bangko Sentral ng Pilipinas reported Tuesday. Cash remittances coursed through banks went up 4.6% to $2.6 billion in August from $2.5 billion last year. The latest figure brought the eight-month tally to $19.8 billion, up 3.9% from $19.1 billion in the […]
Read MoreMANILA, Philippines — Vehicle sales picked up in September from a year ago after posting a slight dip year-on-year in August, amid the improved performance of both the passenger car (PC) and commercial vehicle (CV) segments. Data released yesterday showed combined sales of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) has lowered anew its economic growth forecasts for the Philippines for 2019 and 2020 due to the disappointing performance in the first half, as well as external headwinds caused by the US-China trade war. Based on the latest World Economic Outlook (WEO), the multilateral lending agency further […]
Read MoreMANILA, Philippines — Petroleum and tobacco excise tax collections under the Tax Reform for Acceleration and Inclusion (TRAIN) Act rose above target in the first half mainly due to better compliance from industry stakeholders, according to the Department of Finance (DOF). Based on DOF data, oil excise tax collections as a result of the TRAIN’s […]
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