“The reason why I pulled out initially our intention to sell it was because the valuation at that time was not current. Thankfully, the DoF came out with the current valuation. They came out with a new zonal valuation as of May 2019 and we intend to pursue from that angle,” he said.
Finance Secretary Carlos Dominguez III has expressed the hope that Standard & Poor’s recent upgrade of the Philippines’ credit rating to ‘BBB+’ would convince lawmakers to pass the bill that aims to reform the corporate income tax system as well as the rest of the proposed Comprehensive Tax Reform Program packages, considering that congressional passage of the first law overhauling taxation was among the top factors cited by the debt watcher in assigning the country’s highest investment grade ever.
Trump's trip comes on the heels of India's election in which Prime Minister Narendra Modi, a Hindu nationalist who has enthusiastically built ties with Washington, won an unexpectedly strong new mandate, as well as Australia's polls, where Prime Minister Scott Morrison stunned pundits by beating back a challenge from the Labor Party, whose promises included a "more considered" approach to China.
Trade Secretary Ramon Lopez has ordered the imposition of a 4-percent provisional tariff amounting to PHP210 per metric ton or PHP8.40 per bag on imported cement, which the TC had validated as local cement manufacturers face serious injury following several "pure" importers' over-importation of sometimes substandard but cheaper cement since 2016.
Social Watch Philippines co-convener, Dr. Maria Victoria Raquiza, cited that a funding shortfall of PHP63 billion exists for the first year of UHC, noting that the benefits of the landmark reform may not come to fruition without a significant increase in tobacco taxes.
The Republic of the Philippines successfully returned to the international capital markets with its offering of EUR750 million of 8-year Global Bonds. The bonds are expected to be rated Baa2 by Moody’s, BBB+ by Standard & Poor’s, and BBB by Fitch. The notes are expected to settle on May 17, 2019.
Trade Secretary and Board of Investments Chairman Ramon Lopez announced that cumulative approved investments recorded by the BOI from January to April 2019 hit Php286.7 billion, a 46.5 percent jump from the same period last year where it posted Php195.7 billion.
SHANGHAI -- GAC New Energy Automobile Co. Ltd (GAC NE), China's fast growing electric car manufacturer, has unveiled the Aion LX, its new flagship model in the Aion range. The electric vehicle (EV) has a range of over 600 km (373 miles) under New European Driving Cycle (NEDC) standards.