Proposed tax reform package shifts tax burden to the rich: DOF
July 5, 2017
The Philippines’ proposed tax reform package being pushed by the Duterte administration seeks to end “decades of unjust taxation that polarized wealth rather than distributed it” by shifting the tax burden from the lower 99 percent of the population to
June inflation slowed to 2.8%, moderate inflation expected for rest of year: NEDA
July 5, 2017
The inflation rate in June slowed down to 2.8 percent from 3.1 in May due to slower price adjustments in food and non-food commodities, the Philippine Statistics Agency said Wednesday. The National Economic and Development Authority (NEDA) projects the
Duterte set to submit to Congress proposed P3.767 trillion budget for 2018 during SONA
July 4, 2017
President Rodrigo Duterte has approved the proposed P3.767 trillion budget for next year with the target of submitting it to Congress for its approval during his second State of the Nation Address on July 24, Budget Secretary Benjamin Diokno said
Peso closes at P50.545 against US dollar, stocks up
July 3, 2017
The Philippine peso weakened to an intraday low of P50.57 against the US dollar before closing at P50.545 on Monday. On Friday, the peso closed at P50.47 against the greenback. Volume at the Philippine Dealing System declined from Friday’s $760.90
New central bank governor pushes for continuity, to monitor ‘wind-down” of easy money in advanced countries
July 3, 2017
The Philippines’ new central bank governor said he will built on continuing on the gains of his predecessor and to be aware of the “seemingly imminent wind-down of ultra-easy monetary policies in advanced economies.” Nestor Espenilla made this pledge as
Union Bank says alleged fraud by employee not related to cyber crime
July 2, 2017
Union Bank of the Philippines on Sunday clarified that an alleged fraud involving one of their employees in not related to cyber security or cyber crime. “UnionBank, during its routine checking, found out about possible fraud involving one of its
DOF to hold tax reform awareness forum Wednesday
July 2, 2017
The Department of Finance (DOF) will conduct a forum this Wednesday to heighten public awareness of, and support for, the Duterte administration’s proposed Tax Reform for Acceleration and Inclusion Act (TRAIN). Some 300 participants are expected to attend the event,
Stock market trading index, trading activity up in first half
July 1, 2017
The Philippine Stock Exchange index (PSEi) closed at 7,843.16 on the last trading day of June, marking a 14.7 percent increase for the PSEi in the first six months of the year, a statement by the exchange said Friday. The
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