MANILA, Philippines – The national government’s fiscal deficit widened in the first half due to lower than expected revenue during the period, the Bureau of the Treasury (BTr) reported yesterday. According to the latest cash operations report of the Treasury, the budget deficit in the first semester rose 28 percent to P154.5 billion from the […]
Read MoreMANILA, Philippines – Economists of private banks lowered their inflation forecasts for this year and next year amid the lingering uncertainty over the global economic growth and lower oil prices, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, director at the BSP’s Department for Economic Research, said results […]
Read MoreMANILA, Philippines — Filipinos, especially the working class, have long called for a tax system that is fair and simple. There is now hope as the House of Representative has approved on third and final reading House Bill 5636, or the Tax Reform for Acceleration and Inclusion (TRAIN). Once passed as law, it will be […]
Read MoreMANILA — Most Southeast Asian stocks fell on Friday, in line with Asian markets, after the European Central Bank and the Bank of Japan kept rates steady and signalled that they were in no hurry to start unwinding their massive stimulus programmes. Asian markets edged down, with MSCI’s broadest index of Asia-Pacific shares outside Japan, […]
Read MoreMANILA, Philippines – Foreign portfolio investments or hot money made a recovery in June, but total investments remain in the red for most of the first half, based on a report released yesterday by the Bangko Sentral ng Pilipinas (BSP). Foreign portfolio investments showed a net inflow of $79.56 million in June, reversing a net […]
Read MoreMANILA — A $500 million tax settlement offer by a tobacco maker may be difficult for the Philippine government to refuse as it struggles to raise funds. Caesar Dulay, head of the tax agency responsible for 80% of revenue, said he is keen on accepting a 25 billion-peso (16.7 billion baht) compromise offer from Mighty […]
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