MANILA, Philippines — Companies may further reduce their capital expenditures next year despite the gradual recovery of the economy as they need to protect their balance sheets, according to top company officials. JG Summit Holdings Inc. president and CEO Lance Gokongwei said there is a need to protect the balance sheet especially as many businesses […]
Read MoreMANILA, Philippines — Housing regulators backed appeals from homebuilders to postpone levying taxes in low-cost houses next year while the pandemic rages on, a levy that could end up getting passed to buyers through expensive prices that the poor may not afford. “This will surely have a significant impact on the sales of real properties intended for low-income buyers,” Housing […]
Read MoreMANILA, Philippines — Ecozone locators will now be able to avail of the five percent gross income tax incentive to include COVID-related expenses as direct costs to maintain operations during the quarantine period. In a statement yesterday, the Philippine Economic Zone Authority (PEZA) said the Bureau of Internal Revenue (BIR) has approved the assistance being […]
Read MoreMANILA, Philippines — The Department of Finance sees no need to borrow more than programmed as it expects the economy to bounce back next year, according to DOF Secretary Carlos Dominguez. In an interview with Bloomberg TV, Dominguez said there is no need to tap additional sources of financing outside the regular program of the […]
Read MoreMANILA, Philippines — Car importers sold 43 percent less in 10 months this year as all vehicle segments registered fewer demand amid the pandemic. The Association of Vehicle Importers and Distributors Inc. (AVID) said in a statement yesterday it sold 40,993 units as of end-October, lower than the 71,362 units in the same period last […]
Read MoreMANILA, Philippines — Share prices got a much-needed boost from another COVID-19 vaccine breakthrough, halting the market’s decline over the past three trading sessions. Investors yesterday rejoiced on news that US biotech firm Moderna’s experimental COVID-19 vaccine appears to be 94.5 percent effective. It marked the second time this month that a company unveiled such […]
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