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Biz support for tax reform cited

Finance Secretary Carlos Dominguez III has cited the strong support of the American business community for the first package of the Comprehensive Tax Reform Program, which, he said, was submitted by the Duterte administration to the Congress for its approval…

Biz group backs martial law extension

The country’s largest business organization, Philippine Chamber of Commerce and Industry, supports the call of President Rodrigo Duterte to Congress to extend martial law in Mindanao. “I think the extension is needed for more time to flush out the rebels…

French firms still keen on Ph

More French companies are keen on making their foray into the Philippines or expand their existing operations, as the two countries enhance their bilateral trade and economic relations, an envoy has said. Ambassador of France to the Philippines Thierry Mathou…

Remittances up 5.5% to $2.31B in May

Remittances by Overseas Filipino Workers rose to $2.31 billion in May 2017, 5.5 percent higher than the $2.08 billion the previous month of April. This brought the year-to-date cash remittances to $11.35 billion, up 4.5 percent from year-ago’s $10.86 billion,…

Cheaper insurance, investment products pushed

ARE Filipinos really ready to take on insurance products? An official of BPI-Philam Life Assurance Corp. think so given the country’s rising middle class. But aside from improved capacity of more Filipinos to buy insurance products that have investment components,…

BoI investment pledges hit P273B

The Board of Investments, the country’s leading investment promotion agency, has approved a total of P272.7 billion from January to mid-July 2017. BOI Managing Head and Trade Undersecretary Ceferino Rodolfo told reporters that investment pledges up to mid-July this year…

‘Hot money’ net inflow hits $79.56M

The Philippines posted a net inflow of $79.56 million in foreign portfolio investments in June 2017, which the central bank traced to investors anticipation for the resolution of the Marawi City conflict and approval of proposed tax reforms. Data released…

June auto sales up 14%

The country’s automotive vehicle sales for June 2017 increased by 14.1 percent year-on-year, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association stated Thursday. Auto sales for June 2017 reached 37,631 units…

BPO perks stay under tax-reform proposal

Tax incentives currently enjoyed by business process outsourcing companies will stay even in the proposed comprehensive tax reform program of the government. This was the assurance made by the Department of Finance in a recent hearing on the proposed tax…

San Miguel buys Australian bottling firm

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Top Philippine conglomerate San Miguel, best known for its beer brewing business, said on Thursday it had acquired an Australian wine bottling firm as part of its regional expansion. Packaging unit San Miguel Yamamura Packaging International bought Australia's Barossa Bottling…

Tokyo stocks end flat as strong yen pares Fed rally

Tokyo stocks ended flat Thursday as a strong yen pared early gains that have driven Federal Reserve boss Janet Yellen's suggestion that US interest rates could rise gradually. Japanese traders tracked a Wall Street record in the first few hours…

New FINL released by mid-August

Duterte administration’s economic team plans to release the new list of investment activities reserved for Filipinos by middle of next month as the government reviews the foreign investment negative list. In a chance interview with Department of Finance Secretary Carlos…

Phoenix Petroleum’s CSR programs cited

President Rodrigo Duterte recently expressed his gratitude to Phoenix Petroleum Philippines, Inc. for its corporate social responsibility programs. In his speech at the 10th listing anniversary of the company held at the PSE Plaza in Makati City, the President noted…

Gov’t spending, infra outlays surge

The National government spent P261.7 billion in first five months this year, up 20.4 percent from expenditures in the same period last year. This shows that policy reforms for more efficient project implementation have started to gain traction. The encouraging…

Solid jobs report lifts US stocks, dollar

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NEW YORK (AFP) - Wall Street stocks rallied and the dollar advanced Friday following a better-than-expected US jobs report for June, while equities elsewhere were mixed as a tense G20 summit got underway. The US economy added 222,000 jobs last…
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