MANILA, Philippines — A House bill which seeks to overhaul the tax system on the country’s financial sector is estimated to bring in additional government revenues in the first two years of its implementation, before gradually tapering off to become a revenue-neutral measure by the third year, the Department of Finance (DOF) said yesterday. In […]
Read MoreMANILA, Philippines — More merger and acquisition (M&A) deals are expected to happen in the Philippines amid the country’s growing economy, according to Dutch financial giant ING Bank NV. Hans Sicat, country manager of ING Bank Manila, said 2018 was a good year for deal making in the Philippines as the bank participated in six […]
Read MoreMANILA, Philippines — Vehicle sales continued to decline in November, registering a 23.4 percent drop from the same month a year ago, as higher excise taxes and elevated inflation still dampened demand for new purchases. The joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association Inc. (TMA) showed sales reached 31,258 […]
Read MoreMANILA, Philippines (Update 2, 5:41 p.m.) — After delivering back-to-back hikes, the Bangko Sentral ng Pilipinas on Thursday kept its key rate unchanged, citing “receding price pressures.” At its last rate-setting meeting for 2018, the BSP’s Monetary Board kept policy rate at 4.75 percent, as widely expected. This was the first time in six meetings that the central bank […]
Read MoreMANILA, Philippines — The Philippines is expected to become the 18th largest economy in the world over the next twenty years, Capital Economics reported, citing the Southeast Asian nation’s young workforce. In its “Long-Term Global Economic Outlook” report released last week, the London-based economic research consultancy forecasts the Philippines’ nominal gross domestic product to hit $1.414 […]
Read MorePhilippine-made consumer goods are expected to increasingly flow into the Kingdom as a result of rising Cambodian purchasing power, an announcement from the Philippine Department of Foreign Affairs on Tuesday said. “With a young and dynamic population and increasing purchasing power, the Cambodian market presents great opportunities for Philippine companies seeking to grow their business […]
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