MANILA: The world’s largest Ikea store will open in 2020 in the Philippines as the Swedish furniture retailer presses on its bets in Asia. “Ikea will debut a 65,000-square-metre store in SM Prime Holdings Inc’s Mall of Asia where it’s leasing a space that’s equal to more than 150 basketball courts,” Ikea Southeast Asia managing-director Christian Rojkjaer said […]
Read MoreMANILA, Philippines — The House of Representatives yesterday slashed the proposed hike in the excise tax rates of alcoholic beverages under a consolidated bill which merges House Bills 4839 and 8286. According to data acquired by reporters, the technical working group (TWG) formed by the House of Representatives Ways and Means Committee has approved the […]
Read MoreMANILA, Philippines — Local farmers are poised to lose P60 billion every year with the Senate’s version of the rice tariffication bill, a much higher value than the supposed fund to be allocated to improve their competitiveness, a farmers group said. The Federation of Free Farmers (FFF) has decried the mangling of the Rice Competitiveness Enhancement Fund (RCEF) […]
Read MoreMANILA, Philippines — Budget Secretary Benjamin Diokno yesterday assuaged fears that the country may fall into a “debt trap” as he assured the public that the government is “very careful” in dealing with China’s loan offers. The budget chief made the statement following US Vice President Mike Pence’s warning against China’s “debt diplomacy” during his speech at […]
Read MoreAs the digital revolution continues its march, traditional banks are facing challenges from uncharted sectors. If you’re familiar with PayPal, or even local remittance facilities like Palawan Express Pera Padala, you’ll realize why many Filipinos are less keen on having a bank account. According to the Bangko Sentral ng Pilipinas’ Financial Inclusion Survey made public […]
Read MoreMANILA, Philippines — The Department of Budget and Management (DBM) yesterday gave assurance that the national government would not breach its 2018 fiscal deficit ceiling on the back of higher revenue in the fourth quarter of the year. Budget Secretary Benjamin Diokno is confident that the deficit-to-gross domestic product (GDP) ratio would not exceed the […]
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