DAVAO CITY, Philippines — The Department of Finance (DOF) remains hopeful the government would be able to impose new excise tax rates on alcohol and electronic cigarette products starting January 2020 following the passage of a bill in the Senate. On Monday, the Senate approved on third and final reading Senate Bill 1074, which proposes […]
Read MoreMANILA, Philippines — The country’s rice inventory decreased for the first time this year, the Philippine Statistics Authority (PSA) said. Latest data from the PSA showed that total rice inventory stood at 2.96 million metric tons, 1.3 percent lower than the three million MT recorded last year. The current inventory, however, is 30 percent higher […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers (OFWs) recorded the fastest growth in 12 months in October, the Bangko Sentral ng Pilipinas reported yesterday. According to BSP data, personal remittances increased by 7.7 percent, the fastest since the eight percent growth in October last year, to hit a 10-month high of $2.97 billion in […]
Read MoreImproved air connectivity, intensified marketing promotions, budding relations with other countries, as well as the growing recognition of the country’s sustainable tourism advocacy are some of the reasons that the Department of Tourism (DOT) attribute double digit growths in tourist arrivals and tourist spending for the first 10 months of the year. It seems like […]
Read MoreMANILA, Philippines — The country’s external debt increased by 8.2 percent to $82.7 billion as of end-September from $76.4 billion in the same period last year as the private sector, led by local banks, tapped the offshore debt market for much needed funds, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas will likely resume cutting its benchmark rate next year, according to its governor, who said monetary authorities are on a wait-and-see mode as the previous rate cuts work their way through the economy. “We’re maybe considering around 50-basis points next year,” BSP Governor Benjamin Diokno told Bloomberg […]
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