Philippines: Budget releases hit P2.68 T from January to July Wednesday, August 10, 2016 – Budget releases of the new administration surged in July, consistent with President Duterte’s promise to spend more and widen the deficit. A total of P2.68 trillion or 89.1 percent of the P3.002-trillion outlay has been released to agencies in the […]
Read MorePhilippines: BOC creates group to address revenue collection goals Wednesday, August 10, 2016 – The Bureau of Customs has created a group to address its persistent failure to meet revenue collection targets. In a statement yesterday, Customs commissioner Nicanor Faeldon said he established the committee on revenue enhancement (CORE) to find solutions on the “huge […]
Read MorePhilippines: Oil exploration firms appeal COA ruling on income tax payment Wednesday, August 10, 2016 – The Petroleum Association of the Philippines (PAP) is appealing a Commission on Audit (COA) ruling for exploration companies to pay income tax on top of the royalties paid to government. In a briefing yesterday, PAP executive director Benjamin Austria […]
Read MorePhilippines: Gross borrowings down 6.6% in H1 Wednesday, August 10, 2016 – The previous administration borrowed less in its last month in office, but the first semester tally remained up by more than a third from last year, data from the Bureau of the Treasury showed. Gross borrowings amounted to P33.13 billion in June, down […]
Read MorePhilippines: Purefoods posts 37% rise in profit in H1 Wednesday, 10 August 2016 – San Miguel Pure Foods Co. Inc. (SMPFC), the listed food subsidiary of diversified conglomerate San Miguel Corp., reported a net income of P2.5 billion in the first half, up 37 percent from the previous year on the back of election-related spending. […]
Read MoreCambodia: Drop in US exports seen as a wake-up call Tuesday, 9 August 2016 – The industry body for the nation?s garment and footwear manufacturers said new trade data showing a decline in Cambodian exports to the US during the first half of the year was a sign that the Kingdom was losing its competitive […]
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