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Philippines: Stocks sustain uptrend on positive sentiments

MANILA, Philippines — The stock market continued to gain ground yesterday on renewed investor optimism. Traders said there is renewed investor optimism on the appreciating peso, declining oil prices and easing inflation but at the same time, investors are cautious as the index returned to the 7,400 mark. The benchmark Philippine Stock Exchange index gained 15.76 points, or 0.21 […]

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Philippines: Gov’t adopts stricter rules on reclamation projects

MANILA, Philippines — Stricter procedures would be enforced in the approval of reclamation projects by the National Economic and Development Authority (NEDA) board to ensure environmental sustainability in such developments, the economic planning agency said yesterday. NEDA and the Philippine Reclamation Authority (PRA) signed recently a joint memorandum circular strengthening the regulation of reclamation activities. […]

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Philippines: Fiscal gap swells as spending surges in Oct 2018

MANILA, Philippines — The country’s fiscal deficit ballooned by 175 percent to P59.9 billion in October from only P21.8 billion a year ago as revenue failed to keep up with the government’s aggressive spending program, the Bureau of the Treasury reported yesterday. This brought the government’s cumulative deficit to P438.1 billion from January to October, 87 percent […]

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Philippines: Health premiums: taxable wealth

Having friends know you are a tax professional in public practice makes you their go to person for any clarification and, at the same time, be the recipient of their apprehensions. This happened to me when Revenue Memorandum Circular (RMC) No. 50-2018 was issued. The RMC further clarified the new income and withholding tax provisions of Republic […]

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Philippines: Debt payments reach P620 B in September

MANILA, Philippines — The national government spent P620.54 billion to settle its debt from both domestic and foreign lenders in the first nine months of the year, the Bureau of the Treasury (BTr) reported. According to the latest cash operations report of the BTr, the national government’s debt payments from January to September rose 6.46 […]

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