MANILA, Philippines — The Department of Finance (DOF) is targeting to fully implement by January 2020 the fuel marking program, a measure which is expected to address oil smuggling in the country and to generate P20 billion in additional revenues by next year. During the Senate finance committee’s hearing on Wednesday, Finance Undersecretary Antonette Tionko […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is set to further lower its inflation forecast for this year despite the recent attack on the oil production facilities in Saudi Arabia. BSP Governor Benjamin Diokno said on the sidelines of the Finovation 2019 organized by leading online financial marketplace eCompareMo.com, the central bank would […]
Read MoreMANILA, Philippines — An interagency group for intellectual property rights (IPR) protection and enforcement is pushing for legislation which would hold e-commerce sites and malls liable for the sale of counterfeit items on their platforms. In a press conference ahead of the National Committee on IPR’s high-level meeting yesterday, Trade Secretary Ramon Lopez who chairs […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has given some banks the green light to raise fees on ATM services by P3 per transaction to allow them to recover their operating costs. BSP Deputy Governor Chuchi Fonacier said in an interview with reporters the banks would have to comply with the conditions, particularly […]
Read MoreMANILA, Philippines — Philippine economic growth this year is expected to be slower than earlier forecasts because of the weaker global economy and domestic investment, but may recover next year as consumption holds up and supportive fiscal and monetary policies are implemented, according to the Asian Development Bank (ADB). In an update of its Asian […]
Read MoreMANILA, Philippines — The Asian Development Bank on Wednesday slashed its growth outlook on the Philippine economy as the delayed passage of the 2019 budget crimped state spending in the first semester and as headwinds threaten the global economy. In an update of its Asian Development Outlook report, the Manila-based multilateral lender downwardly revised its […]
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