Home Tags Finance

Tag: finance

Finance sees March inflation at 4.1%

THE DEPARTMENT of Finance (DoF) expects inflation to have peaked at 4.1% in March from 3.9% in February due to upticks in prices of...

Excise tax collections exceed January-February goal

EXCISE TAX collections rose 74.23% in the first two months of the year driven by "sin taxes" after higher levies were imposed this year,...

Growth in money supply quickens in February

Growth in money supply picked up in February as bank lending grew by nearly a fifth, the Bangko Sentral ng Pilipinas (BSP) reported on...

DoF expects remaining tax reform packages approved this year

THE DEPARTMENT of Finance (DoF) is confident that Congress will stick to the planned 2018 approval of all of its succeeding tax reform proposals,...

Budget surplus widens in January

The government posted a wider budget surplus in January, the Bureau of the Treasury reported Friday, March 23, as revenues surged to outpace public...

Philippines’ first panda bond sale receives ‘overwhelming demand’

THE GOVERNMENT raised 1.46 billion renminbi (RMB), or about $230 million, on Tuesday, March 20, from its maiden "panda" bond offer, receiving an "overwhelming...

Finance chief seeks ‘total clarity’ in Bangsamoro fiscal policy

Department of Finance (DoF) Secretary Carlos G. Dominguez III said that the legislators should be clear in crafting the provisions of the Bangsamoro Basic...

Excise tax collections surge 82% in January

Excise tax collections surged in January to hit nearly double from a year ago as the new tax law kicked in, boosted by new...

Fed resists upgrading long-run growth outlook after tax cuts

Federal Reserve officials are showing surprise at just how much the recently-enacted tax cuts are boosting the U.S. economy. But they’re still not impressed...

Deutsche Bank slashes up to 500 investment banking jobs: report

Berlin -- Germany's biggest lender Deutsche Bank is letting hundreds of investment bankers go, Bloomberg News reported Monday, the latest round of deep cuts...

Government debt at 36.4% of GDP

The country’s ratio of General Government (GG) Debt to the Gross Domestic Product (GDP) stood at 36.4% as of end-June 2017, slightly up from...

DoF cautious on firms’ income tax cut

By Elijah Joseph C. Tubayan Reporter THE DEPARTMENT of Finance (DoF) will ensure that state coffers will not suffer unduly as it seeks to give the...

Economists say hawkish-tilting Fed could move rates quicker

WASHINGTON -- The Federal Reserve likely will leave the benchmark US interest rate untouched this week, but economists say the changing composition of the...

DoF chief flags ‘potential nightmare’ in federalism

By Elijah Joseph C. Tubayan Reporter THE SHIFT to a federal form of government could be a “nightmare” for the Philippines, particularly in the fiscal policy...

Tax reform to support SSS contribution hike

THE COUNTRY’S Budget chief said it is high time to raise the contribution rates of Social Security System (SSS) members as they could easily...

BSP eyes third tenor for term deposit offerings

THE CENTRAL BANK is looking to introduce a new tenor for its weekly term deposit auctions, a senior official said, at a time of...

Goldman sees cryptocurrencies, credit shadowing robust 2018 US economy

FINANCIAL IMBALANCES including those in credit markets and cryptocurrencies will shadow an otherwise robust 2018 US economy, said Goldman Sachs Group, Inc. economist Jan...

Seven-day term deposits attract higher demand

By Melissa Luz T. Lopez, Senior Reporter LENDERS opted to place more funds under the central bank’s term deposit facility (TDF) this week, driving yields lower...

Nonperforming loans of thrift banks climb at end-Oct.

BAD DEBTS held by thrift banks picked up by nearly a tenth as of October, although slower than the growth in total loans extended...

Strong demand boosts yields on 7-day deposits

By Melissa Luz T. Lopez, Senior Reporter YIELDS on week-long term deposits dropped yesterday amid strong demand as the central bank decided to stop offering month-long...

DoF to set up the Philippine Tax Academy in Visayas, Mindanao

THE DEPARTMENT of Finance (DoF) is planning to put up regional campuses of its Philippine Tax Academy (PTA) in the Visayas and Mindanao.   In a...

Money supply growth picks up slightly in Oct.

MONEY circulating in the economy grew faster in October despite a slight slowdown in bank lending, the Bangko Sentral ng Pilipinas (BSP) said yesterday. Domestic...

PHL economy poised to sustain growth momentum

By Melissa Luz T. Lopez, Senior Reporter THE Philippine economy will maintain an above-6% expansion in 2018 supported by “broad-based” growth drivers, a local think...

Banks told to craft cyber risk management strategies

BANKS must craft new strategies on information security to manage, detect, and respond to cyber-attacks which could bog down operations, as part of tighter...

BSP net income falls on lower fee-based revenues

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK’S operations remained profitable as of end-September, although net income slipped from a year ago on the...

Indonesia’s Finance chief says no stigma in China links

JAKARTA -- Indonesia is open to all foreign investment and any stigma attached to China is likely driven by a lack of information or...

PPP to continue to take back seat to state funding —...

NOTWITHSTANDING calls by Philippine and foreign business groups for the government to put public-private partnership (PPP) arrangements back at the forefront of its infrastructure...

Taxmen hone focus on select goods amid anti-smuggling drive

THE GOVERNMENT has ordered taxmen “to train their sights” on certain commodities as it steps up its crackdown on big-time smugglers, the Department of...

Samurai bond issue targeted for 2018 — DoF

THE GOVERNMENT could issue yen-denominated debt, or “samurai bonds,” next year, Finance Secretary Carlos G. Dominguez III said. “I suppose the direction I am thinking,...

DoF conducts lifestyle check

By Elijah Joseph C. Tubayan Reporter THE DEPARTMENT of Finance’s (DoF) legal team is conducting a lifestyle check on people of its attached agencies -- including...

EU looking to propose stronger monitoring of UK financial firms after...

BRUSSELS — The European Commission was set to propose later on Wednesday stricter controls of foreign financial firms that do business in the European...

DoF defers submission of 2nd tax reform package

THE DEPARTMENT of Finance (DoF) will defer submission to Congress of the second of up to five tax reform packages, as it focuses all...

Yield on 10-year Treasury bonds seen sideways

By Melissa Luz T. Lopez, Senior Reporter TREASURY BONDS (T-bonds) on offer this week will likely fetch higher yields than current market rates as investors take...

TDF yields pick up as offer still undersubscribed

By Melissa Luz T. Lopez, Senior Reporter YIELDS under the term deposit facility (TDF) picked up yesterday as the trimmed auction volumes went undersubscribed, even as...

Gov’t fully awards T-bills as yields drop

TREASURY BILLS (T-bills) on offer yesterday were fully awarded and more than thrice oversubscribed as they fetched lower yields, as liquidity was released resulting...

August foreign reserves at 3-month-high $81.5 billion

GROSS INTERNATIONAL RESERVES (GIR) edged up in August to a three-month high on the back of higher gold valuations and steady inflows from the...

Government in final stages of preparation for panda bond sale

THE GOVERNMENT plans to be ready for the sale of yuan-denominated bonds by November, said a senior official of the Treasury bureau which is...

Customs told to collect P50 billion monthly until December

NEWLY SEATED Customs Commissioner Isidro S. Lapeña must raise at least P50.1 billion in monthly revenues for the last four months of the year...

Cybersecurity setup in the works — Finance dep’t

By Janine Marie D. Soliman Reporter THE DEPARTMENT of Finance (DoF) is in the works of putting up a cybersecurity defense structure across all its units...

T-bond rates to move sideways

YIELDS on Treasury bonds (T-bonds) on offer tomorrow may move sideways, with demand to remain healthy on the back of ample liquidity, amid geopolitical concerns offshore. The...

Dominguez seeks to deter unqualified bidders

THE government’s economic managers are considering adopting nationwide a rule for government contractors requiring them to complete half of a project before first billing. Finance...

PhilPaSS transactions up

By Melissa Luz T. Lopez, Senior Reporter MORE FILIPINOS are tapping formal channels to transact money under the central bank’s payments and settlements system, with total...

Term deposit yields end steady

By Melissa Luz T. Lopez, Senior Reporter Yields under the central bank’s term deposit facility (TDF) moved sideways yesterday despite tepid demand, as banks opted to...

PHL banks to continue expanding in 2017, 2018

By Janine Marie D. Soliman, Reporter THE PHILIPPINE banking industry is expected to continue growing this year and next, driven by the sector’s low interest rates,...

Dominguez sees Customs reforms on track after Faeldon departure

REFORMS in the Bureau of Customs (BoC) will stay on track despite the change in leadership, Finance Secretary Carlos G. Dominguez III said. “There is...