MANILA, Philippines — Sporadic COVID-19 outbreaks in Southeast Asia are threatening to delay recoveries and could slash the projected gross domestic product (GDP) growth of the Philippines to 7.1 percent instead of 9.6 percent this year, according to S&P Global Ratings. In a report, the debt watcher said the major emerging markets in the region […]
Read More[MANILA] Philippine nickel output rose 3 per cent last year even as the Covid-19 pandemic hampered some projects, government data showed, but the Mines and Geosciences Bureau warned that the outlook for its minerals industry this year remained uncertain. Nickel output in the world’s biggest exporter of the material to top metal consumer China totalled […]
Read MoreMANILA, Philippines — The government awarded in full the short-dated securities offered yesterday even as rates rose slightly across the board in reaction to movements in US Treasury yields. The Bureau of the Treasury raised P20 billion yesterday from total tenders of P50 billion, making the offer more than twice oversubscribed. Average rate for the […]
Read MoreMANILA, Philippines — The government should review the Rice Tariffication Law (RTL) as both farmers and consumers are still not feeling its benefits nearly two years after its implementation, a farmers’ group said. In an analysis paper, the Federation of Free Farmers (FFF) said RTL has grossly failed to deliver on its promises, emphasizing that […]
Read MoreMANILA, Philippines — The National Tax Research Center (NTRC) is calling for the review of the Local Government Code (LGC) of 1991 with the goal of expanding the coverage of local amusement tax to capture revenues from entertainment businesses. In a recent study, the NTRC noted that while data is still incomplete for 2020, collection […]
Read MoreMANILA, Philippines — Multilateral lender International Monetary Fund (IMF) has stressed the importance of fiscal stimulus to revive the tourism sector in countries like the Philippines amid the pandemic. In a paper titled “Tourism in the post-pandemic world,” the IMF said fiscal support could help offset some of the losses in the economy caused by […]
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