MANILA, Philippines — The government is now all set to implement the value-added tax exemption on sale of medicines for diabetes, high cholesterol and hypertension starting January 1 now that the list of VAT-free drugs is out. The removal of 12 percent VAT on prescription drugs used to treat cardiovascular diseases and diabetes was mandated by the Tax […]
Read MoreMANILA, Philippines — Some investment banks see the peso rebounding strongly over the next two years as higher interest rates and easing inflation would help attract foreign inflows and support the local currency. In its Asia economic outlook, ANZ Research said the peso would recover to 52 to $1 in 2019 and further to 50.80 […]
Read MoreInefficiencies in vegetable supply chain Whenever calamities hit north of Metro Manila, vegetable prices in the capital immediately rise. This is because the metro is highly dependent on the northern region for supply. Highland vegetables such as those use for chopsuey like cabbage, carrots and potato are supplied by the Cordillera Administrative Region (CAR). Other […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is evaluating the compliance of banks in making fund transfer and payments available through their electronic channels as the government ramps up its efforts to increase the level of cashless transactions to 20 percent by 2020 from only one percent. BSP Deputy Governor Chuchi Fonacier said the Nov. 30 deadline […]
Read MoreMANILA, Philippines — A resumption of rate hikes by the Bangko Sentral ng Pilipinas (BSP) will no longer be effective in restricting the growth of inflation and will instead have the opposite effect, according to an economist. The Monetary Board of the BSP held policy rates steady in its Dec. 13 policy meeting as inflation […]
Read MoreMANILA, Philippines — The inflow of foreign direct investments (FDI) is expected to top $10 billion anew in 2018 and 2019 as investors continue to view the Philippines as a favorable investment destination, according to the Bangko Sentral ng Pilipinas (BSP). The central bank now expects the inflow of hard investments into the country reaching a record high of […]
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