MANILA, Philippines — The Department of Finance (DOF) will make a last-minute appeal to the House of Representatives to approve the proposed increase in excise taxes of alcopops and electronic cigarette products in the plenary level, according to a top official. Last Monday, the House ways and means committee approved and endorsed to the plenary […]
Read MoreLast week, the national income estimates for the first semester were released. The growth rate of output or GDP was 5.5 percent based on year-on-year estimates. A lingering question for the whole year is whether the year’s growth target of around six percent for 2019 is achievable. Under-performance. This was a disappointing result as the […]
Read MoreMANILA, Philippines — Net inflows of foreign direct investments (FDI) plunged 85 percent in May, hitting its lowest level in more than three years, amid external headwinds wherein emerging markets remain affected by the trade war between the US and China. The Bangko Sentral ng Pilipinas (BSP) reported yesterday that net FDI inflows amounted to […]
Read MoreMANILA, Philippines — The Manila Electric Company (Meralco) announced the fourth consecutive month of lower power rates. As a result, overall electricity rates for a typical household consuming 200kWh decreased to P9.5674 per kWh this August from last month’s P9.9850 per kWh. The downward adjustment of P0.4176 per kWh means a decrease of around P84 […]
Read MoreMANILA, Philippines — The Philippines’ economic growth would likely remain under pressure from both external and domestic factors after a disappointing performance in the first half, according to DBS Bank of Singapore. DBS economist Maysita Crystallin said the delayed passage of the 2019 national budget has affected government infrastructure spending on the domestic side, while […]
Read MoreMANILA, Philippines — Local raw sugar production slightly declined last month to 2.07 million metric tons, but still within the target set by the Sugar Regulatory Administration. While local sugar supply has met industry targets, it has not improved from year-ago levels. Sugar crop year starts every September and ends in August. Ending inventory stock […]
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