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The Bangko Sentral ng Pilipinas (BSP) is committed to pursue liberalization initiatives as well as capital market reforms amid the scheduled changing of the guards in the central bank next week.

The Department of Finance (DOF) said over the weekend it is possibile to lower the value-added tax (VAT) rate in the Philippines from the current 12 percent once the government is able to clean up the tax system and plug leakages caused by the numerous VAT exemption privileges under the law.

The government sees sustained growth in public spending in the coming months after a recovery in its disbursement performance last May, the Bureau of the Treasury (BTr) said.


Oil is technically back in bear market territory.

Inasmuch as we can’t expect our political leadership to abolish the tourism department anytime soon, we might as well make sure those who are now pretending to lead it are able to do some good.

Latest Business News

The Lush Co. Inc., the leading player in the Philippine food cart business, is exploring the possibility of tapping the local equities market to fund its expansion, a company official said.

State think tank Philippine Institute of Development Studies is urging a review of the government’s disaster risk financing and insurance program to speed up recovery efforts during calamities and prevent further disruption of economic activities in affected areas.

Manila Electric Co., the country’s biggest power distributor, has earned a credit rating upgrade from global debt watcher Standard & Poor’s.

Long Term Evolution subscriptions in the Philippines are seen to increase to 70 percent of total subscription in 2022 from 10 percent at present as telcos continue their aggressive spending in network upgrades, Ericsson said.

Ayala Land Inc. has already spent nearly half of its P65 billion budget for Vertis North Estate in Quezon City.

Cebu Landmasters Inc. broke ground on a 38-story condominium located in the Cebu IT Park.

Another big bank has been affected by a glitch this month after an incident involving Ayala-led Bank of the Philippine Islands and BDO Unibank Inc. of retail magnate Henry Sy.

A Laguna-based supermarket owner was convicted for his failure to present his tax receipts, the Bureau of Internal Revenue said.

Students in three universities in Cebu are being introduced to Japanese manufacturing techniques and standards to boost their employability in the manufacturing sector.

The Malampaya natural gas field in Palawan will undergo a series of two-day maintenance shutdowns in July and September but will not cause any power supply interruption in the Luzon grid, the Department of Energy said Wednesday.


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