MANILA, Philippines — Net inflows of foreign direct investments (FDI) fell by 48.5 percent to $430 million in June from $836 million in the same month last year due to the worsening trade war between the US and China, according to the Bangko Sentral ng Pilipinas. Based on a report from BSP, equity placements plunged […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has strengthened its financial consumer protection framework in light of the increased complexity of financial products and rapid technological innovations in financial products and services. BSP Governor Benjamin Diokno has issued Circular 1048 stating that the Monetary Board has approved the revision of the framework issued […]
Read MoreMANILA, Philippines — The pipeline of projects approved by the Board of Investments (BOI) – the country’s main investment promotion agency – more than doubled in the first eight months, strengthening government’s claim that investors are not spooked by a proposed law which seeks to rationalize fiscal incentives. Investments registered with the BOI surged 126 […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) and the Technical Education and Skills Development Authority have partnered with the Singaporean government to implement programs to upgrade the skills of the Philippine labor force. In a statement yesterday, the DTI said a memorandum of understanding (MOU) was signed for human capital development and […]
Read MoreMANILA, Philippines — The House of Representatives is rejecting the Department of Finance (DOF) proposal for an increase of more than 300 percent in the road user’s tax, which the government collects from motor vehicle owners. “If we adopt the DOF bill, we will have 11 million more enemies,” Albay Rep. Joey Salceda, who is […]
Read MoreAs Exports Rise For 4th Straight Month MANILA, Philippines — The country’s trade deficit narrowed to $3.39 billion in July as exports rose and imports of goods crucial to production fell, the Philippine Statistics Authority (PSA) said yesterday. Total external trade in goods in July fell by 1.3 percent to $15.74 billion from $15.95 billion […]
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