MPIC sells economic interest of 19.2% in its LRT-1 concession through sale of 34.9% of Metro Pacific Light Rail Corp. to Sumitomo Corp.
May 29, 2020
Metro Pacific Investments Corp. announced Friday that one of Japan’s largest trading and investing companies, Sumitomo Corp., has acquired a 34.9 percent stake in Metro Pacific Investments Corporation’s (MPIC) subsidiary that holds an effective 55 percent stake in Light Rail
Grab Philippines eyes resumption on June 1
May 29, 2020
Grab Philippines said it is eyeing to resume operations by June 1 with the introduction of GrabProtect for enhanced safety and hygiene standards. “Safety has always been at the core of what we do at Grab and while we understand that the
Palace can’t ask for supplemental budget sans new sources of revenues, DBM chief
May 28, 2020
The Department of Budget and Management admitted on Thursday that President Rodrigo Duterte could not ask Congress for a supplemental budget for its efforts to address the coronavirus disease crisis because the government has no new sources of revenues. In
Economic team asks business sector to help convince Congress to pass CREATE bill
May 28, 2020
Finance Secretary Carlos Dominguez III has sought the support of the business community in helping the economic team convince the Congress to pass in its last session week prior to its sine die adjournment a long-due corporate tax reform measure that will
BSP-registered foreign portfolio investments yield net outflows in April
May 28, 2020
BSP-registered foreign portfolio investments for April 2020 yielded net outflows of US$660 million resulting from the US$1.3 billion gross outflows and US$627 million gross inflows for the month. This is lower than the recorded net outflows of US$961 million in
Asian Development Bank approves $400 million loan to support Philippines’ Capital Market Development
May 26, 2020
The Asian Development Bank (ADB) on Tuesday has approved a $400 million policy-based loan to support the Philippine government’s efforts to strengthen domestic capital markets and reach its development goals of high, sustained economic growth and poverty reduction. The Support
PSE index ends lower, peso at P50.53:$1
May 26, 2020
The Philippine Stock Exchange (PSE) index ended lower on Tuesday after a one-day trading holiday on Monday. The peso closed at P50.53 against the US dollar from P50.7 on May 22. Volume at the foreign exchange portal of the Bankers
DOF cites Top 500 taxpayers that filed 2019 ITRs ahead of extended payment deadlines
May 25, 2020
The Department of Finance (DOF) has cited the country’s Top 500 taxpayers as of May 19 that have heeded the government call for corporations and individuals to file their income tax returns (ITRs) ahead of the deferred payment deadlines during
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