Business

TRAIN’s price impact splits economists

Economists are divided on the possible impact of the first tax reform package on Philippines’ inflation rate this 2018, with some saying the effect will be limited while some raised the possibility of breaching of the target. BPI lead economist…

Economic minders up macro goals targets

Members of the inter-agency Development Budget Coordinating Committee (DBCC) have revised upwards some of the government’s targets on back of the economic development here and overseas. In a briefing, Budget and Management Secretary Benjamin Diokno said imports growth target for…

Correcting age-old ‘inequity’ in tax system

After more than 300 presentations about the gains of tax reforms, efforts of Department of Finance (DoF) officials were not wasted. Before 2017 came to a close, President Rodrigo R. Duterte signed into law the first package of the tax…

Credibility of PH legal tender upheld

The Bangko Sentral has called on the public to stop acts that will question the credibility of the country's legal tenders. This after some social media posts about misprinted banknotes continue to circulate days after central bank officials have explained…

Excise tax only for new stocks––DoE

Petroleum companies announced a 20-centavo-per-liter increase in gasoline and a 65-centavo hike in diesel pump prices while no movement was reported on kerosene prices. Shell, Seaoil, PTT Philippines, and Phoenix Petroleum implemented the adjusted costs at 6 a.m. on Tuesday,…

Shorter documentary rules for MSMEs vowed

The Bureau of Internal Revenue (BIR) has assured the Department of Finance (DOF) that it will work double-time on streamlining processes for the documentary requirements of micro, small and medium-scale enterprises (MSMEs) renewing business permits following the congressional approval and…

Sustained export surge seen

The Department of Trade and Industry is bullish that the country’s export performance will surpass, if not maintain its growth in 2018. Trade Secretary Ramon Lopez told reporters the increase in investments on manufacturing for exports of goods and services,…

ABAC lauds administration feats

MANILA -- The Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) has welcomed the achievements of the Duterte administration and pushes for strengthening the collaboration between public and private sectors. ABAC, the voice of businesses in APEC, said it…

BPO still highest job generator

The internet-based job and applicant matching system of the Department of Labor and Employment (DoLE) revealed that the business process outsourcing (BPO) industry is still the biggest generator of jobs. According to PhilJobnet, the said industry has posted a total…

DTI optimistic to keep EU GSP+ status

The Department of Trade and Industry (DTI) remains highly optimistic that the European Union (EU) will continue to grant the Philippines the benefits of Generalised Scheme of Preferences Plus (GSP+). DTI Secretary Ramon Lopez told reporters that both the Philippines…

DTI wants to speed up EO on PUV upgrade

The Department of Trade and Industry (DTI) wants to fast-track the creation of an executive order (EO) to support the supply side of the public utility vehicle (PUV) modernization program. Trade Secretary Ramon Lopez said a new EO is needed…

HSBC ups Ph GDP forecast

Banking giant HSBC revised upwards its growth forecast for the country's Gross Domestic Product (GDP) for 2017 and 2018 given the sustained improvement of the domestic economy. HSBC, in a study, hiked its growth forecast for the domestic economy from…

9-month investment pledges rise

Around 187,748 jobs are expected to be created as investment pledges in the country’s seven major investment promotion agencies (IPAs) rose in the first nine months of the year. Data from the Philippine Statistics Authority (PSA) showed that the PHP626.24…

Bangers and cash: German sausage makers fight ‘cartel' fine

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German sausage makers went to court Tuesday to fight back against a record anti-trust fine for years of alleged price fixing in a sizzling scandal involving the nation's favorite food. The Federal Cartel Office slapped a 338 million euro ($400…

3rd telco to boost PH Internet –– Globe

Telecommunications provider Globe welcomes the entry of a third player in the telco industry saying this would further increase the number of cell sites resulting in the improvement of Internet access and speed in the country. This, as Globe reiterated…
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