No security breach seen from public utility bill

Credit to Author: Tyrone Jasper C. Piad| Date: Fri, 28 Feb 2020 17:09:17 +0000

ALBAY Second District Rep. Jose Maria Clemente “Joey” Salceda assured the public that the country’s security would not be compromised despite the expected easing of restrictions on foreign ownership of certain businesses, including those in telecommunications and transportation, should his bill amending the 84-year-old Public Service Act (PSA) is enacted. On the sidelines of The […]

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February inflation seen settling within 2.4-3.2%

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 28 Feb 2020 17:05:22 +0000

THE country’s inflation likely eased to as low as 2.4 percent or accelerated to as high as 3.2 percent this month, the Bangko Sentral ng Pilipinas (BSP) said on Friday. The range projected by the central bank’s Department of Economic Research compares with January’s 2.9 percent, but lower than the 3.8 percent posted in February […]

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PAL keeps PH-SKorea flights under new guidelines

Credit to Author: Lisbet K. Esmael| Date: Thu, 27 Feb 2020 16:50:10 +0000

FLAG carrier Philippine Airlines (PAL) will continue flying between the Philippines and South Korea, but under new guidelines released after the government imposed a limited ban on Filipinos traveling to the East Asian country, which saw its cases of the coronavirus disease 2019 (Covid-19) dramatically spike. In a Viber message on Thursday, PAL Spokesman Cielo […]

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DoF: More taxes kept PH’s fiscal health strong

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 27 Feb 2020 16:45:04 +0000

THE Department of Finance (DoF) maintained the country’s fiscal health last year by collecting more taxes and keeping its exposure to the debt market manageable. In its report, the Finance department said its total revenue collection reached P3.14 trillion in 2019, up 10.1 percent from the 2018 figure. Of the total, tax collections reached P2.83 […]

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Bargain-hunting buoys PSEi

Credit to Author: Tyrone Jasper C. Piad| Date: Thu, 27 Feb 2020 16:40:02 +0000

Bargain-hunting somehow provided relief to the local bourse on Thursday, but it was not enough to break above the 7,000 level. The benchmark Philippine Stock Exchange index (PSEi) added 0.84 percent or 58 points to close at 6,967.84, while the wider All Shares gained 0.49 percent or 20.30 points to finish at 4,149.67. “The market […]

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Cigarette makers paid P148B in excise taxes in 2019

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:53:10 +0000

EXCISE tax payments of cigarette manufacturers rose last year, accounting for more than half of the government’s total sin tax collections, data from the Department of Finance (DoF) showed. The Bureau of Internal Revenue (BIR) collected P147.5 billion in ‘sin’ taxes from cigarette products in 2019, up 8 percent from the P136.5 billion collected a […]

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S&P cuts PH growth forecast to 6.1%

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 19 Feb 2020 17:37:23 +0000

S&P Global Ratings has trimmed its growth outlook for the Philippine economy this year as it believes the coronavirus disease 2019 (Covid-19) outbreak will weaken the country’s supply chains. The credit rating agency now projects Philippine gross domestic product (GDP) to expand by 6.1 percent, lower than its previous forecast of 6.2 percent. The updated […]

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Dominguez sees lower Customs collections this month

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 19 Feb 2020 17:34:47 +0000

FINANCE Secretary Carlos Dominguez 3rd expects the Bureau of Customs’ (BoC) revenue collections to drop this month as the coronavirus disease 2019 (Covid-19) outbreak drags shipments from China, one of the Philippines’ major trading partners. “Total shipments dropped, but the majority of the drop is from China,” Dominguez told reporters on Tuesday night when asked […]

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DTI: Travel ban vs US senators might affect FTA talks

Credit to Author: Tyrone Jasper C. Piad| Date: Thu, 09 Jan 2020 14:00:49 +0000

THE travel ban ordered by President Rodrigo Duterte against two American senators last month might affect the planned Philippines-United States free trade agreement (FTA) negotiations this year, the Department of Trade and Industry (DTI) said. Trade Secretary Ramon Lopez, in an interview with The Manila Times, said the ban had become a “possible part of […]

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General wholesale price index steady in October

Credit to Author: Anna Leah E. Gonzales| Date: Thu, 09 Jan 2020 13:00:18 +0000

THE Philippine Statistics Authority (PSA) reported on Thursday that the General Wholesale Price Index (GWPI) at the country level stayed at 2.9 percent last October. According to the statistics agency, the figure was higher than the 2.2 percent recorded in October 2018. Among commodity groups, a higher annual markup of 2.1 percent was noted in […]

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