MANILA, Philippines — The country’s trade deficit narrowed by 40.6 percent in December 2019 as exports registered double-digit growth and imports contracted, the Philippine Statistics Authority (PSA) reported yesterday. Total external trade in goods in December 2019 amounted to $13.96 billion, an increase of 2.4 percent from $13.63 billion in the same month the previous […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) expects a 6.3 percent growth for the Philippine economy in the first quarter despite a spate of natural disasters led by the eruption of Taal Volcano as well as the global outbreak of the 2019 novel coronavirus (nCoV). Yongzheng Yang, IMF resident representative to the Philippines, said […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) has secured over 100,000 N-88 masks from the country’s lone manufacturer, Medtecs International Corp. Ltd. In a statement yesterday, DTI said it got the partial supply or 125,000 N-88 masks from Medtecs. Of the 125,000 N-88 masks, 70,000 pieces were delivered and immediately donated to […]
Read MoreMANILA, Philippines — Net inflow of long-term investments into the Philippines climbed in November, but was not enough to offset the strong outflow during the 11-month period last year as investor confidence remained muted due to uncertainty brought about by the dim global economic outlook and delayed passage of the second tranche of the government’s […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has instructed banks and financial institutions to stop withholding taxes on all income derived from the BSP’s government functions. The regulator issued Memorandum 2020 – 002 instructing authorized agent banks to discontinue withholding the two percent tax on service fees arising from bank deposit transactions with […]
Read MoreMANILA, Philippines — The National Tobacco Administration (NTA) has approved higher minimum buying prices for tobacco for the next two years after an agreement has been reached between farmers and the private sector. Stakeholders finalized an increase in tobacco floor prices by P2 across all types and grades. For Virginia tobacco, which makes up almost […]
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