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Business

WB sees Ph sustaining 6.7% growth

The World Bank expects the Philippines to sustain stable economic growth this year and the next, noting the country should invest more in infrastructure and human capital to achieve further growth. In its East Asia and Pacific Economic Update released…

2018 internal revenue goal within reach

Bureau of Internal Revenue (BIR) Commissioner Caesar Dulay is optimistic the agency will hit its Php2.039 trillion 2018 collections target due to the adoption of several reforms like the easier filing of Income Tax Returns (ITR). On Monday, Dulay personally…

Trade gap signals domestic demand growth

An economist from the Asian Development Bank on Wednesday said the Philippines' trade deficit was not alarming but an indicator of growing domestic demand. “The country is running a trade deficit and it is not alarming. It is not a…

BMI sees above 6% 2018-19 growth

BMI Research continues to see better than six percent annual growth for the Philippine economy on the back of positive demographics and the government’s massive infrastructure program. In a study, the subsidiary of Fitch Group forecasts a 6.3 percent growth…

Sustained FDI growth prospect bright

Bangko Sentral Governor Nestor A. Espenilla Jr. is hopeful the country can sustain the rise in foreign direct investments (FDIs) after it registered a record-high USD10 billion in 2017. “We’re certainly hopeful because there are many drivers for more FDI,”…

Infra growth engine for 2018-2019 –– ADB

The Asian Development Bank (ADB) expects the Philippines to remain one of Southeast Asia’s fastest-growing economies in the next two years on the back of strong domestic demand and government’s rollout of more infrastructure projects. In its latest Asian Development…

Grab told to cut surge prices

The Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday ordered Grab Philippines to reduce its surge pricing cap from 2 to 1.5 times the normal fare immediately as it processes the applications of new transportation network companies (TNCs). The…

Hikes in sin-product tax explained

Faster rate of price increases of sin products, namely tobacco and alcoholic beverages, among others, continues to push domestic inflation higher to 4.3 percent last March from the revised 3.8 percent in February 2018. This, as excise taxes of sin…

Meet global demand, local aerospace industry urged

The country’s aerospace industry is urged to take advantage of the robust global demand through enhanced investments, which in turn will create more jobs here. During the press launch of the Aeromart Summit Clark - Philippines here Friday, Trade and…

Facebook apologizes after Myanmar groups blast Zuckerberg

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YANGON (AFP) - Facebook apologized on Friday to Myanmar civil society groups who took issue with Mark Zuckerberg's defense of the platform's record on curbing hate speech roiling the country. Facebook has been battered by allegations that posts on its…

Auto industry growth prospects bright

The Department of Trade and Industry maintains a positive outlook of the country’s automotive industry. Board of Investments (BOI) Executive Director Ma. Corazon Halili-Dichosa said during the Manila International Auto Show (MIAS) 2018 Thursday that the automotive industry remains a…

Mfg output, value post double-digit gain

The country’s manufacturing output and value posted double-digit growth in February, the Philippine Statistics Authority (PSA) reported Thursday. In its Monthly Integrated Survey of Selected Industries (MISSI) for February 2018, volume of production index (VoPi) increased to 24.8 percent from…

Jollibee told: Regularize over 6K workers

The Department of Labor and Employment has ordered Jollibee Foods Corp. (JFC) to regularize 6,482 workers deployed by its two contractors. In a statement Wednesday, DoLE National Capital Region Director Henry John Jalbuena said he has also directed the Filipino…

Duterte, labor groups to tackle EO

President Rodrigo Duterte and labor groups are set to meet again on April 16 regarding the proposed executive order (EO) on contractualization, the Department of Labor and Employment (DoLE) confirmed Wednesday. “Malacañang has scheduled the meeting with labor (groups) on…

PH an upper mid-income economy soon

The Philippines can join the ranks of upper middle income economies as early as end-2019 or two years ahead of target, the National Economic and Development Authority (NEDA) said Tuesday. This is if the economy manages to sustain its brisk…
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