Marcos backs luxury tax, urges Filipinos to pay correct taxes
PRESIDENT Ferdinand R. Marcos, Jr. has backed a legislative proposal seeking to increase the tax rate on luxury goods.
At the same time, the Philippine...
Marcos’ economic team optimistic on growth outlook despite headwinds
by Diego Gabriel C. Robles
President Ferdinand Marcos Jr.’s economic team remains optimistic that growth momentum will be sustained this year, despite rising inflation and...
Coal to remain dominant energy source for PHL — Fitch Solutions
COAL-FIRED power plants will remain the country’s dominant energy source in the coming decade, making up more than half of the capacity mix, results of a new research show.
Philippines cbank sees May inflation at 3.7% to 4.5%
MANILA - Philippine annual inflation was likely to be within a range of 3.7% to 4.5% in May, the central bank said on Friday,...
ADB approves $400-M loan to improve PHL tax system
THE ASIAN Development Bank (ADB) has approved a $400-million loan for the Philippines to reform tax policies and ramp up revenue collection.
In a statement...
Peso may climb further vs dollar on Fed bets after soft jobs data
THE PESO could climb against the dollar this week as soft US labor data bolstered bets of a US Federal Reserve rate cut this...
Peso may sink to P59 per dollar level anew
THE PHILIPPINE PESO could return to the P59-per-dollar level this year, as the US dollar continues to strengthen, analysts said.
The local unit closed at...
Recto says Maharlika fund still identifying potential investments
THE MAHARLIKA Investment Corp. (MIC) plans to decide on potential investments by the end of the year, Finance Secretary Ralph G. Recto said on Wednesday.
PHL told to boost hotel supply with expected rush of foreign tourists
THE PHILIPPINES should boost its hotel supply to accommodate an expected influx of foreign tourists after a law was passed letting them apply for a value-added tax (VAT) refund on certain purchases, a Cabinet council said on Thursday.
Austal, Cerberus line up bid for PHL shipyard
A CONSORTIUM of Australian shipbuilder Austal Ltd. and US private equity firm Cerberus Capital Management LP could make an offer in the coming weeks for Hanjin Heavy Industries & Construction Co.’s cash-strapped shipyard in the Philippines.
FDI inflows more than double in March
FOREIGN DIRECT investments (FDI) to the Philippines surged in March, largely due to the low base effect from last year’s slump as well as an improvement in investor sentiment.
Third telco’s start awaits Congress’ green light
MOVES to usher in the country’s third major telecommunications service provider could face a slight delay, as the Department of Information and Communications Technology (DICT) awaits legislative clearance of the Mislatel Consortium’s franchise.