Biz groups bullish as year ends on stable note

January 02, 2019
International Chamber of Commerce Philippines (ICCP) founder and chairman Francis Chua said the economy faced headwinds in the early part of the year such as the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, rising world oil prices, inflation, and interest rates, and challenges in the tourism and agriculture sectors, among others.

Residential real estate prices up 4.4% in Q3

January 02, 2019
Residential real estate prices were higher by 4.4 percent year-on-year in Q3 2018 as the Residential Real Estate Price Index (RREPI) increased to 116.5 from 111.6 for the same quarter a year ago, the Bangko Sentral ng Pilipinas (BSP) revealed in a statement over the weekend.

Asian markets meek after global turbulence

December 29, 2018
Investors moved cautiously across other Asian markets Friday, with Hong Kong closing up 0.1 percent, after moving between positive and negative territory throughout the day. Shanghai added 0.4 percent, in a modest end to its last trading day of the year.

San Miguel Corporation envisions Bulacan as seafood capital

December 29, 2018
Following government’s recent approval of the proposed New Manila International Airport project in Bulacan, San Miguel Corporation president Ramon S. Ang bared plans to protect and revive some 12,000 hectares of Bulacan coastline--as part of the P754 billion development of the airport.

Department of Energy ready for oil excise tax hike 2

December 28, 2018
“The DOE, in coordination with the Bureau of Customs and Bureau of Internal Revenue, is ready to implement the second tranche of excise taxes by January 1. Government devised a mechanism to closely monitor the inventories,” the DOE said in a statement on Thursday.

Debt management in good hands

December 27, 2018
Senate Minority Leader Franklin Drilon expressed confidence in the capability of Finance Secretary Carlos Dominguez III and the rest of the economic team to ensure the sound and efficient management of the debt incurred to fund the government’s “Build, Build, Build” infrastructure program, the Department of Finance said in a statement on Friday.

Board of Investments pledges hit P907B this year

December 26, 2018
“This new historic mark breezing past last year’s record figure not only reaffirms but further strengthens investor confidence under the Duterte administration. We were initially expecting to at least attain our target of PHP680 billion for the year, instead we were able to more than double the PHP442 billion investments level in 2016,” Trade Secretary and BOI Chairman Ramon Lopez said.

Aggie among top administration concerns

December 26, 2018
Finance Secretary Carlos Dominguez III said agriculture will remain among the top concerns of the Duterte administration for the rest of its term to fulfill its goal of raising farm productivity and rural incomes, and avoid a repeat of the supply problems in rice and other major food items that led to the elevated inflation rate in the second half of 2018.

Construction projects up 17% in Q3

December 20, 2018
“All types of residential constructions, except for duplex/quadruplex and other residential, recorded a two-digit increase in number as follows: residential condominiums (80.8 percent), apartment/accessoria (29.9 percent) and single-type houses (15.3 percent),” the PSA noted.

Agri Free Patent Act to boost inclusive growth

December 19, 2018
Principally authored by Albay Rep. Joey Sarte Salceda in the House, HB 8078 was merged with Senate Bill 1454 and hurdled the legislature’s bicameral conference committee recently. It will remove major restrictions provided under Commonwealth Act No. 141 governing the land patent program, easing up certain prohibitions in granting public farmlands to qualified beneficiaries.

$4.4-B first integrated steel complex underway

December 17, 2018
A Memorandum of Understanding (MOU) was signed between HBIS Group Co.,Ltd., Huili Investment Fund Management Co.,Ltd., Steel Asia Manufacturing Corporation, and PHIVIDEC Industrial Authority that will jointly implement the Philippine Iron and Steel Project in Misamis Oriental amounting to USD 4.4 billion-worth of investments, the biggest industrial investment from China to date. The project comprises of two phases which will generate over 20,000 additional job opportunities.

Senate ratifies tax amnesty bill

December 15, 2018
The Senate on Thursday ratified the bicameral conference committee report on the bill granting a one-time opportunity to those who have failed to pay their tax obligations for taxable year 2017 and prior years -- including estate taxes, general taxes and delinquent accounts – to settle their liabilities.