MANILA, Philippines — The government incurred a fiscal deficit of P234.9 billion in the first 10 months, widening by nine percent from the P216 billion shortfall recorded in the same period last year amid the Duterte administration’s efforts to ramp up public spending, the Bureau of the Treasury reported yesterday. For October alone, the government’s […]
Read MoreMANILA: Philippine President Rodrigo Duterte has instructed government agencies to scrap or start easing barriers that foreigners face in multiple business and employment sectors, part of moves to liberalise an economy long criticised as restrictive. The directive, made public on Thursday, said the aim was to pursue stronger economic growth, create fairness and to enable […]
Read MoreMANILA, Philippines — Filipinos’ total wealth declined in 2017, according to a report by Credit Suisse that also shows slightly increasing wealth inequality in the country. The Swiss bank’s annual global wealth report revealed the Philippines’ total wealth depleted to $593 billion in 2017, lower than 2016’s $607 billion. Credit Suisse uses three components to […]
Read MoreThe Philippine printing industry can take advantage of the Association of Southeast Asian Nations (Asean) economic integration with the regional bloc’s members now looking at more trade in this field, thanks to lower tariffs, capital restrictions, and entry barriers in the region, a Board of Investments (BOI) official said on Tuesday. “Within Asean, we have […]
Read MoreMANILA: Philippine President Rodrigo Duterte has not lifted a ban on open pit mining, his spokesman said on Monday, amid plans by a government panel to seek the removal of the policy. “I assure you that this is one of the instances when I personally asked the President if there’s been a change in policy. […]
Read MoreMANILA, Philippines — Retailers reported higher earnings in the nine months to September. In separate disclosures, SSI Group, the country’s largest specialty store retailer, said net income rose 12 percent to P342 million while core recurring income, which excludes one-time write-offs related to the group’s store rationalization program, increased 13 percent to P444 million. SSI […]
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