MANILA, Philippines — Vehicle importers registered a slight dip in sales in the seven months to July this year as the passenger car (PC) segment remains weak. Data from the Association of Vehicle Importers and Distributors Inc. (AVID) showed the group sold 50,164 units as of end-July, down slightly from the 50,505 units sold in […]
Read MoreINFLATION likely eased further to 2 percent in August from 2.4 percent the month before on the back of reduced prices of rice, fuel and electricity, according to Union Bank of the Philippines (UnionBank). In a report released on Wednesday, UnionBank chief economist Ruben Carlo Asuncion said consumer price growth this month “is expected to […]
Read MoreMANILA, Philippines — Beverage giant Coca-Cola Beverages Philippines Inc. (CCBPI) is lobbying for the reduction of excise taxes on sugar-sweetened beverages (SSB). The Sugar Regulatory Administration (SRA) said CCBPI chief executive officer Gareth Mcgeown wrote Finance chief Carlos Dominguez, asking the government to “revisit and amend the excise taxes on sweetened beverages.” “Coke sent a […]
Read MoreMANILA, Philippines — The immediate passage of the CITIRA (Corporate Income Tax and Incentives Rationalization Act) bill and the further easing of restrictions on foreign investments will enable FDI to recover after the record slowdown in May, economic managers and bank economists said yesterday. Net FDI inflows plunged 85 percent in May, the lowest in […]
Read MoreMANILA: The Philippine central bank will make another 25 basis point cut in policy rates before the end of the year as it expects prolonged global monetary easing, its governor said on Tuesday. “Another 25 basis points before the end of the year,” Bangko Sentral ng Pilipinas Governor Benjamin Diokno replied when asked at an […]
Read MoreMANILA, Philippines — The debt payments of the national government surged by 172 percent to P83.81 billion in June from P30.76 billion in the same month last year after the settlement of more foreign obligations. Latest data from the Bureau of the Treasury (BTr) showed 65 percent of the total debt service or P54.71 billion […]
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