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Philippines: Inflation impact of new tax law minimal, says DOF

MANILA, Philippines — The newly enacted tax reform law may raise inflation by 0.7 percentage points in the first year of its implementation, a level which is considered “minimal and manageable,” according to the Department of Finance (DOF). Finance Undersecretary Karl Kendrick Chua said the Tax Reform for Acceleration and Inclusion (TRAIN) Act—particularly the provision […]

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Philippines: BOP deficit widens to $531 M in Jan

MANILA, Philippines — The Philippines booked a balance of payments (BOP) deficit amounting to $531 million in January amid strong outflows, reversing the $917 million surplus recorded in December. Data from the Bangko Sentral ng Pilipinas (BSP) showed the shortfall last month was the highest since the country recorded a BOP deficit of $678 million […]

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ADB meet in May seen as showcase event for Philippines

MANILA, Philippines — The country’s hosting of the 51st Annual Meeting of the Asian Development Bank (ADB) in May will be a showcase event for the Philippines with expected spillover effects on tourism and investments, Finance Secretary Carlos Dominguez said yesterday. Some 3,000 delegates are expected to take part in the annual meeting of the […]

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US, Philippine companies to push for more collaborations

MANILA, Philippines — A Filipino-American organization co-chaired by business titan Manuel V. Pangilinan is pushing for greater collaboration between US and Philippine firms in key sectors of the economy as part of a “modern, multi-dimensional, 21st century US-Philippines relationship.” The US Philippines Society (USPS) said yesterday it is embarking on a new initiative to explore […]

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