MANILA, Philippines — Farmers will now slowly benefit from the liberalization of the rice industry as the government released P2.46 billion as part of the tariffication fund, according to the Department of Agriculture. The DA said the Rice Competitiveness Enhancement Fund (RCEF) is in the process of releasing P2.462 billion for two of its component […]
Read MoreMANILA, Philippines — Foreign investors -are becoming increasingly less reliant on incentives as a deciding factor in putting up their businesses in the Philippines, according to a senior official of the Department of Finance. In a statement, Finance Undersecretary and chief economist Gil Beltran debunked Philippine Economic Zone Authority (PEZA) director general Charito Plaza’s claim […]
Read MoreMANILA, Philippines — Albay Rep. Joey Salceda is planning to file a bill that seeks to put in place a new tax regime for the mining industry, and set up a sovereign wealth fund for development projects of future administrations. Salceda, who also chairs the House Committee on Ways and Means, said he is drafting […]
Read MoreMANILA, Philippines — The Philippines remained near the bottom of the world standings in terms of digital competitiveness amid a one-notch improvement in this year’s ranking, according to a report of the International Institute for Management Development (IMD). The Philippines climbed one spot to 55th place out of 63 economies in the IMD World Digital […]
Read MoreMANILA, Philippines — The increase in bank deposits eased further, growing by only 5.8 percent as of end-June as depositors opted to park their excess funds in high-yielding instruments such as government securities. Data from the state-run Philippine Deposit Insurance Corp. (PDIC) showed total bank deposits reached P12.84 trillion from January to June, P705 billion […]
Read MoreMANILA, Philippines — As expected, the Bangko Sentral ng Pilipinas (BSP) delivered another 25 basis points rate cut yesterday as part of an easing cycle that saw interest rates decline by 75 basis points since May due to easing price pressures, as well as weaker economic growth. In a press conference, BSP Governor Benjamin Diokno […]
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