Banks tighten lending standards in Q2 2020: BSP
July 27, 2020
Results of the Q2 2020 Senior Bank Loan Officers’ Survey (SLOS) showed that most of the respondent banks tightened their overall credit standards for loans to both enterprises and households during the quarter based on the modal approach. This is the
BIR: 5% franchise tax on offshore POGOs in effect since 2017
July 27, 2020
The Bureau of Internal Revenue (BIR) has maintained that foreign-based Philippine Offshore Gaming Operators (POGOs) should pay the 5 percent franchise tax before they can resume their operations, as clearly stated in a memorandum circular issued by the agency back
Inflation remains with target range in second quarter: BSP
July 27, 2020
The BSP published Monday the 75th issue of the quarterly BSP Inflation Report covering the period April-June 2020. The full text of the report is being released in PDF format on the BSP website (http://www.bsp.gov.ph/publications/regular_inflation.asp). The BSP Inflation Report is
PHL, ADB sign US$26.5-M loan accord for property valuation capacity of LGUs
July 26, 2020
The Philippines and the Asian Development Bank (ADB) signed July 1 an agreement for a US$26.5-million loan that aims to improve the capacity of local government units (LGUs) across the country to raise revenues by instituting reforms in local property
PSE index just above key 6,000-point level; peso at P49.33:$1
July 24, 2020
The Philippine Stock Exchange (PSE) index ended just above the key 6,000-point area on Friday. The PSE index lost 25.75 points to 6,003.26. In the broader market, there were 93 losers, 91 gainers and 46 unchanged. Volume reached 1.31 billion
World Bank support to PHL for COVID response reaches US$1.2-B
July 24, 2020
The World Bank has disbursed as of April this year a total of US$1.2 billion in concessional financing to the Philippines to support the government’s efforts in containing the spread of the coronavirus pandemic and providing emergency relief to families most
PSE index declines; peso at P49.365:$1
July 23, 2020
The Philippine Stock Exchange ( PSE) index ended lower on Thursday, closin don 35.25 points to 6,029.01. In the broader market, there were 150 losers, 50 gainers and 36 unchanged. Volume reached 1.6 billion shares worth P4.26 billion from Wednesday’s
Manufacturers back DOF call on relaxed lockdowns in Metro Manila, other economic hubs
July 23, 2020
The Federation of Philippine Industries (FPI), which is the umbrella organization of over 100 manufacturing companies, has backed the call of Finance Secretary Carlos Dominguez III for relaxing quarantine measures in Metro Manila and other major urban centers while strictly observing
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