MANILA, Philippines — International credit rating agencies are still expecting economic growth of above six percent for the Philippines this year despite lowering their forecasts due to the slower-than-expected expansion in the first quarter. Christian de Guzman, senior credit officer at the sovereign ratings group at Moody’s Investors Service, said during the EJAP-Aboitiz Economy InFocus […]
Read MoreMANILA, Philippines — Consumer price growth could soften below 3% in May on the back of stable food prices, a global bank said Tuesday. In a note sent to reporters, ING bank said inflation this month likely cooled down below the government’s 2%-4% target amid falling rice prices. “With food prices likely stable or decelerating, […]
Read MoreMANILA, Philippines — Bank economists expect a stronger peso amid the dovish sentiment by the Bangko Sentral ng Pilipinas (BSP) as well as external factors led by the US-China trade war. According to Robert Dan Roces, chief economist at Security Bank Corp., the peso may settle at an average of 53 to $1 in the […]
Read MoreMANILA, Philippines — The Bureau of Internal Revenue (BIR) is planning to issue within the week the revenue regulations (RR) on its planned estate tax amnesty program, a measure which seeks to give taxpayers a one-time opportunity to clear up their estate tax liabilities. In a statement, the BIR said stakeholders may still send their […]
Read MoreMANILA, Philippines — The Philippines lags behind other member-countries of the Association of Southeast Asian Nations (ASEAN) in terms of the development of its financial sector, according to the Philippine Institute of Development Studies (PIDS). In a new study titled “Financial sector development: A review,” the state-run think tank said ASEAN neighbors like Malaysia and […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has tightened the guidelines on the selection of external auditors for banks and financial institutions to preserve the integrity of financial reports and transparency in the financial system. BSP Governor Benjamin Diokno said the Monetary Board issued a resolution approving the revised framework on the selection […]
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