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Business

Optimism in economy stays—bank execs

Executives of Asia United Bank (AUB) are still optimistic with the Philippine economy despite the risks and challenges in both domestic and global markets. During its stockholders’ meeting Friday, AUB President Manuel Gomez cited that increasing interest rates and inflation,…

Gov’t urged to tailor-fit aid to firms

The government needs to develop interventions adapted to the specific needs of micro, small and medium enterprises (MSMEs) to encourage them to take risks and innovate, according to a study of the Philippine Institute for Development Studies (PIDS). In a…

EU slaps tariffs on US as trade war erupts

The European Union slapped revenge tariffs on iconic US products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump. Within hours, Trump responded with a threat to impose a 20…

Gov’t mulls issuance of $1-B ‘Samurai’ bond

Secretary Carlos Dominguez III confirmed here Tuesday that the Philippines is planning to issue about USD1 billion-worth of “Samurai” bonds this year following its two successful floats of dollar- and renminbi-denominated securities in the offshore markets in the first quarter…

PH among best economic performers

Economic and Development Authority (NEDA) Director-General Ernesto Pernia on Tuesday told the Japanese business community and other stakeholders that the Philippines remains one of the best performing economies in the region. “National and international observers have remarked that the Philippine…

PH financially stable amid general risks

Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. has assured Japanese investors that the Philippines remains financially stable amid risks in domestic and global markets. In his presentation during the Philippine Economic Briefing in Tokyo on Tuesday, Espenilla said…

Enhanced investment transparency sought

There is a need to improve the information content of the country's foreign investment negative list (FINL) in order to provide potential investors with a clearer perspective of the local business climate, which in-turn, is expected to attract foreign direct…

Global stocks pressured by US, China tariff announcements

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NEW YORK (AFP) - Revived trade war fears weighed on US and European bourses Friday following tit-for-tat tariff announcements by the United States and China. US President Donald Trump announced 25 percent tariffs on tens of billions in Chinese imports,…

BSP raises BoP forecast to $1.5-B gap

The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments (BOP) forecasts for this year, seeing higher deficit of USD1.5 billion from its initial projection of USD1 billion. In a statement, the BSP said even with the upward…

Vehicle sales drop 14% in May

Vehicle sales in the country continued to decline in May, with sales decreasing by 13.7 percent this year to 30,620 units sold from the 35,469 units sold during the same month last year. The Chamber of Automotive Manufacturers of the…

Net foreign portfolio investments down

Registered foreign portfolio investments last May amounted to $1.2 billion, down by 11.9 percent and 18.4 percent from figures recorded the previous month and a year ago, respectively. This may be attributed to higher United States (US) treasury yields and…

10% corporate income tax ‘very fair’—SEIPI chief

Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) Chair Melba Cuyahon said Wednesday that a reduced corporate income tax (CIT) rate of only 10%, inclusive of local business tax and real property tax is something that the local electronics…

‘Drastic change’ to leapfrog Ph in doing biz rank

The country’s top trade official seeks a “drastic change” in the bureaucracy to ensure that the Philippines will land in the top 20 percent of the ease of doing business global ranking by 2020. During the 6th Ease of Doing…

Run after cigarette counterfeiters, BoC BIR told

Finance Secretary Carlos Dominguez III has directed the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) to track down manufacturers of counterfeit tobacco products and their possible cohorts in government, who had a role in allowing the…

Exporters go local on robust demand

A ranking trade official said that aside from looking overseas, exporters are now also scouting for domestic opportunities arising from robust demand. Export Marketing Bureau (EMB) Director Senen Perlada told reporters on Monday that some of the country's traditional exports…
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