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No ML ‘near-term’ economic impact seen

Moody’s Investors Service rules out immediate impact of the declaration of martial law in Mindanao on the Philippine economy. “The ongoing siege and imposition of martial law will not materially impact the country's robust near-term economic outlook,” the debt rater…

DoF to submit 2nd part of tax-reform plan in Q4

With the first package of the proposed tax reform program now being discussed in the plenary of the House of Representatives, finance officials are set to submit the second package in the last quarter of 2017. "The second package will…

Free tuition law, a dramatic equalizer and game changer

Young Filipino students from poor families today can feel vastly more fortunate and empowered than their elders during their time. They are now assured of opportunities to pursue and earn college degrees more easily. Their elder counterparts had to literally…

BPO leader backs tax reform

A leader from the business process outsourcing sector has sought speedy congressional approval of the first package of Comprehensive Tax Reform Program, which he described as a "win-win" for both labor and management as it will raise the take-home pay…

Contractors urged to back labor inspection

Labor Secretary Silvestre H. Bello III urged local service contractors to help in the nationwide inspection of establishments’ compliance with labor laws by being part of the pool of volunteer assessors. In his message to the founding anniversary of the…

Fuel marking to stop oil smuggling

The mandatory fuel marking system under the proposed tax reform measure is expected to curb the about P26.9 billion to P43.8 billion loss in government revenues due to oil smuggling. The Bureau of Customs plans to conduct the competitive bidding…

PDIC still processing RBRI depositors

The Philippine Deposit Insurance Corporation announced that deposit insurance claims from depositors of the closed Rural Bank of Ragay (Camarines Sur), Inc. who have not filed their claims may be filed at the PDIC Public Assistance Center, 3rd Floor, SSS…

‘DuterteNomics’ on right track

The Duterte administration’s economic and development blueprint for the Philippines is on the right track, particularly its massive infrastructure program, according to an economist. “The mantra is build, build and build… We need a lot more to be able to…

Growth momentum intact

Finance Secretary Carlos Dominguez III on Thursday said the country's growth momentum remains solid and intact amid the declaration of martial law in Mindanao as domestic fundamentals continue to be strong. In a statement, he said the “military is in…

Tax effort up 13.14% in Q1

The government's bid to ensure funds for its programs continues to stride, making tax effort to stood at 13.14 percent in the first quarter of 2017. The Department of Finance reported on Tuesday that tax effort the first three months…

DoTr to fund 5 airports via ODA/GAA

The development of five regional airports in the country will be pursued through the Official Development Assistance or General Appropriations Act as the original plan for a public-private partnership procurement process was earlier cancelled, the Department of Transportation said Wednesday.…

BdO ties up with Japan's Seven Bank

BDO Unibank and Japan's Seven Bank, Ltd. have sealed on Wednesday a business pact that will capitalize on their strengths in retail business. The partnership covers the upcoming launch of an international money transfer service to the Philippines, allowing customers…

Weaker peso a tonic for Ph economy?

The government's economic managers have said that weaker peso should not worry Filipinos as this would even translate into higher tax revenue and additional monetary benefits for overseas Filipinos workers and the country’s thriving business process outsourcing sector. Finance Secretary…

Full-year growth within reach

Finance Secretary Carlos Dominguez III has voiced optimism that the Philippines remains on track to meet its full-year growth target of 6.5 percent to 7.5 percent, after the National Economic and Development Authority reported on Thursday a first-quarter Gross Domestic…

Q1 growth ‘strong, balanced’ –– ANZ

The growth in the country’s gross domestic product for the first quarter of the year was strong and balanced, the research unit of Australia and New Zealand Banking Group Ltd. said Wednesday. ANZ Research’s statement came after the National Economic…
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