Inflation could pick up this month given higher oil and power prices, the Bangko Sentral ng Pilipinas (BSP) said in Wednesday as it offered a 2.9-3.6 percent forecast range for November. “Higher domestic petroleum prices and electricity rates in Meralco-serviced areas could contribute to upward price pressures, which could be partly offset by the slightly […]
Read MoreSINGAPORE: Philippine shares fell on Wednesday, set for a third consecutive day of losses, while other markets trod water as investors assessed North Korea’s latest missile test. North Korea said it had successfully tested a powerful new intercontinental ballistic missile (ICBM) that put all of the U.S. mainland within range, with MSCI’s broadest index of […]
Read MoreMANILA, Philippines — The Duterte administration is planning to roll out next year its amnesty program for individuals and corporations with unsettled estate tax liabilities, according to the Department of Finance (DOF). In an interview, Finance Secretary Carlos Dominguez confirmed to reporters the government is considering to implement its tax amnesty program in 2018, starting […]
Read MoreManila, Philippines — A lawmaker on Wednesday warned Filipino investors from temptation of buying bitcoins, saying such a type of digital currency are “extremely risky investments.” “Cryptocurrencies like bitcoin are a promising low-cost remittance platform for Filipino workers sending their earnings home but they are extremely risky investments due to lack of regulatory protections for […]
Read MoreMANILA, Philippines — Businesses, particularly in the export sector, turned more optimistic in the fourth quarter as a result of the moderate and gradual weakening of the peso against the dollar, according to a survey conducted by the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said the overall business confidence index of the […]
Read MoreThe Duterte government’s “Build Build Build” initiative has been given a boost via the Asian Development Bank’s (ADB) approval of a $300-million loan and another $500,000 in technical assistance for capital market development. “The package is part of ADB’s comprehensive effort to help the government finance, implement, and manage sophisticated public works projects and strengthen […]
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