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$2B left in foreign borrowing program

THE GOVERNMENT has about a $2-billion borrowing space left for its planned “samurai” bond and second global bond sale under its program for foreign...

Chinese delegation expresses interest in PHL investment

CHINESE firms are demonstrating increased interest in doing business in the Philippines due to the growing economy, the Department of Finance (DoF) said. In a...

April spending up 43%, highest for current gov’t

GOVERNMENT spending in April rose 43% year on year to P261.2 billion, the Bureau of the Treasury (BTr) said. According to the April 2018 cash...

ADB approves technical aid for Batangas LNG project

THE ASIAN Development Bank (ADB) has approved a technical assistance loan for the Philippine National Oil Co.’s (PNOC) Batangas Liquefied Natural Gas (LNG) project. According...

Fuel-marking contract to be bid out in Q3

THE GOVERNMENT hopes to launch the bidding process for the fuel-marking system, a measure intended to curb tax evasion, by the third quarter, the...

Customs bureau seizes shipment of cigarettes worth P36.5 million

THE BUREAU of Customs (BoC) said it intercepted a Chinese shipment of smuggled cigarettes valued at P36.5 million. The BoC said in a statement yesterday...

PHL competitiveness falls most in Asia

By Elijah Joseph C. Tubayan Reporter NOTWITHSTANDING relatively robust growth so far, the Philippine economy’s competitiveness ranking suffered the biggest drop in Asia over snags in...

Faster spending growth widens 4-month deficit

THE GOVERNMENT’S deficit grew nearly fourfold in the four months to April from a year ago as a hike in state spending outstripped that...

Finance dep’t claims backing of business groups for tax reform package...

THE DEPARTMENT of Finance (DoF) said that it has received letters of support from business and civil society groups on the second package of...

Debt-to-GDP ratio rises to 56.2% in Q1 ahead of Fed rate...

GOVERNMENT debt as a percentage of gross domestic product rose from a year earlier to 56.2% in the first quarter amid an increase in...

Tax perks reform may still change — DoF exec

THE DEPARTMENT of Finance (DoF) said it is open to changes in its corporate tax reform proposal, but maintained that the overall objective of...

PUV upgrades to be required for fuel vouchers

THE DEPARTMENT of Transportation (DoTr) said that it is preparing to issue fuel vouchers for public utility vehicle (PUV) drivers and operators affected by...

Gov’t borrowing falls 2.44% in Q1

GOVERNMENT borrowing fell 2.44% in the first quarter, after domestic borrowing declined while foreign loans increased, the Bureau of the Treasury (BTr) said. According to...

Executive wants Congress to approve tax amnesty bill by June —...

By Elijah Joseph C. Tubayan Reporter A PLANNED GENERAL tax amnesty could start next semester if Congress could ratify the bill by June, the Department of...

Marawi rehab on track to start next month

FUND-RAISING for the rehabilitation of Marawi City has raised about a fifth of the amount needed over four years but works are expected to...

Debt service falls over 16% in Q1 on reduced principal as...

THE government’s debt service bill fell over 16% year on year in the first quarter, after a decline in foreign and domestic principal settlements,...

Former DoF officials support second package of tax reform

FORMER officials of the Department of Finance (DoF) have expressed their support for the second tax reform package ahead of public hearings set to...

GOCC subsidies rise over 130% in 1st quarter

SUBSIDIES granted to state corporations more than doubled in the first quarter, according to Bureau of the Treasury (BTr) data, with the bulk of...

BSP further relaxes forex rules

THE BANGKO Sentral ng Pilipinas (BSP) said on Friday that banks will no longer need to secure its approval to convert foreign currency loans...

Balance of payments swings to deficit

By Elijah Joseph C. Tubayan, Reporter THE PHILIPPINES’ external payments position swung to a deficit in April from the year-ago surplus, the central bank reported...

April sees ‘hot money’ flowing in anew

NET inflows of foreign portfolio investments — also known as “hot money” for the ease by which they enter and leave the economy on...

BIR reminds LGUs to pay taxes for commercial activities

THE BUREAU of Internal Revenue (BIR) warned local government units (LGUs) conducting commercial activities to pay the corresponding taxes after taking notice on the...

Swiss challenge period for Marawi rehabilitation proposals starts May 26

THE SWISS CHALLENGE period for proposals to rehabilitate Marawi City is set to start next week, which will be the next step in determining...

Bureau of Customs releases rules for electronic filing of cargo manifests

THE BUREAU of Customs (BoC) has released the implementing rules and regulations governing the electronic filing of shipping data, expediting the release of “legitimate...

Peso flat amid continued geopolitical tensions

THE PESO strengthened a tad yesterday as the market was cautious over geopolitical concerns involving US, Iran and North Korea ahead of key US...

TRAIN books P12.5-B net gain in Q1

THE TAX Reform for Acceleration and Inclusion (TRAIN) law was able to shore up a P12.5-billion net gain in the first quarter, the Bureau...

Bonds partially awarded

THE GOVERNMENT made a partial award of the seven-year Treasury bonds (T-bonds) it offered on Wednesday as yields continued to rise amid with expectations...

House committee eyes retention, expansion of tax, non-tax incentives

THE HOUSE Committee on ways and means is looking to retain and even expand tax and non-tax incentives for those sectors with good performances...

Japan official dev’t assistance deal for Marawi rehabilitation signed

THE government has signed an official development assistance (ODA) grant agreement with Japan for the rehabilitation and reconstruction of Marawi City worth 2 billion...

Peso down on easing US-China tensions after Trump’s ZTE deal

THE PESO weakened yesterday over indications of easing US and China tensions after US President Donald J. Trump’s pronouncements on extending assistance to Chinese...

Peso dips as trade war tensions subside

THE PESO weakened on Tuesday, May 15, over indications of easing US and China relations after US President Donald J. Trump's pronouncements on extending...

Inflation to maintain ascent in coming months

INFLATION is seen to keep rising and hit a peak towards the end of the year, a central bank official said, with added price...

Gov’t eyes fresh dollar bond issuance before yearend

THE government is eyeing another dollar-denominated bond sale this year in anticipation of further tightening in US monetary policy, the Finance department said. Asked whether...

LGUs receive nearly 100% of IRAs

THE BUDGET department said it has released nearly 100% of local government units’ (LGUs) share of taxes collected by the national government as of...

OPEC fund may participate in Marawi rehab, Clark dev’t

THE DEVELOPMENT FINANCE arm of the Organization of Petroleum Exporting Countries (OPEC) is looking to support infrastructure in the Philippines, including rebuilding Marawi City...

SSS seeks to postpone 2nd tranche of pension

THE SOCIAL Security System (SSS) wants to postpone the implementation of the second tranche of the P2,000 pension increase until such time that the...

DoF confident China-backed projects will pay off

THE PHILIPPINES will sign its second loan agreement with China in July, the Department of Finance (DoF) said, adding that the Philippines is capable...

GSIS offers loan relief program for teachers

THE Government Service Insurance System (GSIS) will start to accept on Tuesday applications for the GSIS Financial Assistance Loan (GFAL) program for teaching personnel...

Gateway airport decision up to future governments — NEDA

A FUTURE government will end up making the decision to designate a main international gateway airport for Metro Manila, the National Economic and Development...

Cash utilization by government agencies falls to 65% in April

NATIONAL GOVERNMENT agencies’ cash utilization fell to 65% in April, the Department of Budget and Management (DBM) said. The utilization rate measures funds usage relative...

TRAIN needed to fund infrastructure, free tuition, salary hikes — Dominguez

MOVES TO suspend the Tax Reform for Acceleration and Inclusion (TRAIN) law amid claims it worsens inflation will compromise other key economic programs introduced...

NEDA sees food logistics as possible counter for inflation

A POLICY RATE hike may not address rising inflation, the National Economic and Development Authority (NEDA) said, with the authorities looking at “more robust”...

Lesson from Boracay: DBM to ease approval for projects in...

THE DEPARTMENT of Budget and Management (DBM) will now be “more tolerant” of budget proposals seeking to rehabilitate and develop tourist spots, following the...