Stock index retreats after hitting all-time intraday high
January 16, 2018
Stocks closed lower due to profit-taking after the key index set a new all-time intraday high on Tuesday. The Philippine Stock Exchange index finished 7.41 points lower to 8,865.13. The index reached a historic intraday high of 8, 969.18. In
DOF submits CTRP Package 2 to Congress
January 16, 2018
The Department of Finance (DOF) has formally submitted to the House of Representatives this week the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that aims to reduce corporate income tax (CIT) rates and modernize fiscal incentives to investors, the DOF
Stocks end week flat after earlier record runs
January 12, 2018
Stocks ended flat on Friday, as it ended the week despite crossing new records earlier this week. The Philippine Stock Exchange index finished 1.37 points lower to 8,814.62. In the broader market, there were 103 decliners, 96 gainers and 48
Surfeit of tax holidays lead to P300b in foregone revenues yearly
January 11, 2018
Income tax holidays and other incentives with no time limits enjoyed mostly by large businesses is costing the government over P300 billion annually in foregone revenues, according to the Department of Finance (DOF) Thursday. Citing 2015 data, Finance Undersecretary Karl Kendrick
Stocks retreat for second day
January 11, 2018
Stocks retreated for the second straight day on Thursday due to profit-taking. The Philippine Stock Exchange index finished 107.04 points lower to 8,813.25. In the broader market, there were 120 decliners, 88 gainers and 54 shares unchanged. Volume reached 919.1
FDI inflows up threefold in October to $2 billion: BSP
January 10, 2018
Foreign direct investments (FDI) net inflows rose threefold in October 2017 to $2 billion from $670 million registered in the comparable period in 2016, the Bangko Sentral ng Pilipinas (BSP) said Wednesday. “The upswing in FDI reflects continued investor confidence
Stocks retreat from record finish
January 10, 2018
Stocks declined slightly from their record run as the Philippine Stock Exchange index finished 3.43 points down to 8, 920. 29 points on Wednesday. The decline coincided with the release of record trade deficit and a three-month decline in manufacturing
DBM expects gov’t underspending less than 1% in 2017
January 10, 2018
The Department of Budget and Management (DBM) sees government underspending of less than one percent in 2017 as agencies fear losing their budget. “Our estimate, underspending is down to less than one percent from about 10 to 15 percent in
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