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Business

1 in 3 Pinoys has financial accounts

Over a third of Filipinos aged 15 and above owns a formal account, according to the 2017 Global Findex published by the World Bank, the latest edition of the world’s most comprehensive database on financial inclusion. Data showed that 34.5…

Consumer safety pushed amid fintech strides

Bangko Sentral considers consumer protection paramount in its regulation of the growing financial technology industry in the country. During a roundtable discussion on new technologies in finance held on Thursday at the ADB Headquarters in Mandaluyong City, BSP Governor Nestor…

Economy ‘on right track’ –– solon

The credit rating upgrade of the Philippines based on the latest Standard & Poor Global Ratings is an affirmation of "correct economic and fiscal policies" under the Duterte administration, a legislator said on Wednesday. In a statement, House appropriations committee…

Manufacturing on the rise

The country’s manufacturing purchasing managers index, which measures the crucial sector's performance, further rose at the start of the current year's second quarter, IHS Markit reported Wednesday. IHS Markit data showed that manufacturing PMI in April grew to 52.7 from…

BSP lifts April inflation forecast 'slightly’

The Department of Economic Research of the Bangko Sentral has adjusted its inflation rate forecast for April, placing it at the 3.9 percent to 4.7 percent range and calling the move a ”slight upward revision.” In a statement Monday, the…

UK chamber lauds TRAIN2, seeks one-time tax cut

The British Chamber of Commerce Philippines threw its support to the government’s tax reform program, noting that this will raise the country’s competitiveness in the region. In a media briefing Wednesday, BCCP Chairman Chris Nelson said British firms doing business…

GOCCs can’t stray into private sector

The Governance Commission for GOCCs vowed to work closely with concerned government agencies in reviewing the mandates of government-owned and controlled corporations to ensure a level playing field is maintained and that they do not directly compete with the private…

Agri underemployment down

More Filipinos seem to be going farming these days, as underemployment in the agriculture sector shrank as of October 2017, latest data from the Philippine Statistics Authority showed. According to the PSA, underemployment in the agriculture sector totaled some 2.2…

Easier retail trade to lure more UK brands

Further liberalizing of the retail sector will attract more brands from United Kingdom to come to the Philippines, British Chamber of Commerce Philippines Chairman Chris Nelson said Wednesday. Nelson told reporters in a briefing that certain British brands have set…

Stronger framework for nat-gas industry sought

Senator Sherwin Gatchalian on Wednesday urged government to establish a stronger legal framework to develop and regulate the country's downstream natural gas sector to attract more foreign investments in light of the upcoming expiration of the franchise of the Malampaya…

Pharma a P200-B industry by 2022

The Philippine pharmaceutical sector is expected to grow into a PHP198.9-billion industry by the year 2022 from its current value of PHP162.3 billion, a unit of Fitch Group forecasted. BMI Research reported Monday that its optimism is founded on the…

DTI seeks P300M for Boracay biz

Trade and Industry Secretary Ramon Lopez said Monday that the agency will be seeking PHP300 million from government’s Boracay rehabilitatation fund to assist small-scale enterprises that will be affected by the tourist trap's planned 6-month closure. He added that Department…

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…
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