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DoF to keep seniors, PWDs VAT-exempt

Sen. Juan Edgardo “Sonny” Angara on Tuesday welcomed the decision of the Department of Finance to come up with a revised tax reform proposal which keeps the value added tax exemption benefits of senior citizens and persons with disabilities. This…

Global growth pegged at 3.4%

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WASHINGTON, -- The International Monetary Fund kept its forecast for global economic growth for 2017 and 2018 unchanged at 3.4 percent and 3.6 percent respectively, but warned of uncertainties. “After a lackluster outturn in 2016, economic activity is projected to…

Display technologies top PC trends this year — Lenovo

Philippines shared top personal computer trends for 2017, highlighting that PC has become more important than it was before. Display technologies also play a vital role in PCs, the company noted. According to Lenovo, millennials are now spending more time…

Tax reform to boost growth — DoF chief

Finance Secretary Carlos Dominguez III recently stressed the need to reform the Philippines’ tax regime to ensure additional revenues to be used to build necessary infrastructure to sustain the economy’s strong growth path. In a statement, Dominguez said the domestic…

2017 GDP to reach 6.8% –– IMF

Higher-than-expected growth of the Philippine economy in the third quarter of 2016 made the International Monetary Fund revise upwards its projection for the domestic economy this year to 6.8 percent. This was previously at 6.4 percent, based on the lenders’…

Weak electronics exports vs global mart upturn

An economist has raised concern over weak exports revenue of Philippine electronics sector amid the sector's global recovery. IHS Global Insight Asia Pacific Chief Economist Rajiv Biswas said the country’s electronics sector was a “particular concern” after it grew flat…

WhatsApp vulnerable to snooping: report

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LONDON - The Facebook-owned mobile messaging service WhatsApp is vulnerable to interception, the Guardian newspaper reported on Friday, sparking concern over an app advertised as putting an emphasis on privacy. The report said that WhatsApp messages could be read without…

Microsoft buys Canadian AI startup Maluuba

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SAN FRANCISCO - Microsoft announced Friday a deal to buy Maluuba, a Montreal startup focused on making machines able to think the way people do. Bringing on board Maluuba co-founders Kaheer Suleman and Sam Pasupalak, along with their team from…

6 more Asian banks keen on Manila

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Six more foreign banks have indicated interest to open offices in the Philippines, Bangko Sentral Governor Amando Tetangco Jr. said. Tetangco disclosed this in his speech during the Bankers’ Night Tuesday, which the central bank holds annually for stakeholders at…

GDP to grow 6-7% in 3 years

The World Bank has seen sustained economic growth in the Philippines at 6.0- to 7.0-percent level in the next three years. In its 2017 Global Economic Prospects report released in Washington on Tuesday (Wednesday in Manila), World Bank forecasted gross…

Domestic liquidity to remain high

Domestic liquidity is expected to remain high following the ban against trust entities from tapping the Bangko Sentral overnight deposit facilities and the Term Deposit Facility. BSP Deputy Governor Diwa Guinigundo said the end of the holiday season, during which…

Ayala invests in Indon wind farm

Conglomerate Ayala Corp. has signed a deal with UPC Renewables Indonesia Ltd. for the construction and operation of a $150-million wind farm project in Sidrap, South Sulawesi, Indonesia, its first greenfield offshore investment. Ayala told the local bourse the Sidrap…

Maybank Foundation aids PWD’s, etc.

Helping people, particularly the marginalized and those with disabilities, stand on their own. Thus, the goal of Maybank Foundation’s Reach Independence and Sustainable Entrepreneurship program, which was launched in the Philippines Wednesday. Maybank Foundation chief executive officer Shahril Azuar Jimin,…

Slight rebound for export sector seen

The export sector is expected to slightly recover and post a flat to positive growth in 2017 due to increased trade with China and Russia and as economies of the country’s major markets pick up. “Well, it is going to…
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