Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:48:32 +0000
THE government can secure an “A” investment grade credit rating for the Philippines once two crucial tax reform measures are passed, according to a Philippine National Bank (PNB) economist. “In our view, Fitch stands ready to hike the country’s investment credit rating upgrade to the next level if we see [the] passage of key fiscal […]
Read moreCredit to Author: Tyrone Jasper C. Piad| Date: Tue, 25 Feb 2020 16:44:06 +0000
The Philippine Economic Zone Authority (PEZA) called for the immediate passage of the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) to eliminate uncertainties following the recent downsizing of a United States-based bank’s local headquarters and a Japanese car maker’s decision to stop its manufacturing operations in the Philippines. “First is, we have to […]
Read moreCredit to Author: Jordeene B. Lagare| Date: Tue, 25 Feb 2020 16:39:16 +0000
MANILA Electric Co. (Meralco) is close to finalizing its terms of reference (TOR) for the competitive bidding covering 1,200 megawatts (MW) of new supply, which could be published in about two months. If the revised TOR will be finalized and published next week, “the bidding will be [conducted] in two months after [the bid submission […]
Read moreCredit to Author: Tyrone Jasper C. Piad| Date: Mon, 24 Feb 2020 16:12:56 +0000
The tax collection from rice imports under the Rice Tariffication Law (RTL) dropped to P1.71 billion as of February 14, the Department of Finance (DoF) reported on Monday, as rice import volume was markedly down during the period as well. In a statement, the DoF said that the Bureau of Custom’s (BoC) collection from January […]
Read moreCredit to Author: Agence France-Presse| Date: Sun, 23 Feb 2020 16:14:26 +0000
LONDON: Sea freight transport, the lifeblood of trade and a bellwether of the global economy, has been blown off course by the new coronavirus, sparking general alarm. As analysts pore over charts to gauge just how badly Chinese mega-factories have been hit, figures provided by cargo ship traffic paint a gloomy picture. The Baltic Dry […]
Read moreCredit to Author: Jordeene B. Lagare| Date: Sun, 23 Feb 2020 16:13:16 +0000
THE total number of ailing electric cooperatives (ECs) have declined to eight as of end-2019, with the majority located in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to the National Electrification Administration (NEA). In a recent interview, NEA Administrator Edgardo Masongsong said problematic ECs are the Abra Electric Cooperative (Abreco), Albay Electric Cooperative […]
Read moreCredit to Author: Jordeene B. Lagare| Date: Sun, 23 Feb 2020 16:12:12 +0000
THE Department of Energy (DoE) is looking at converting a 120-hectare land in San Pascual, Batangas, the subject of an “onerous” land deal between Chevron Philippines Inc. and the subsidiary of the National Development Co. (NDC), into an energy city, its top official said. In an interview, Energy Secretary Alfonso Cusi said “what we want […]
Read moreCredit to Author: Divina Nova Joy Dela Cruz| Date: Fri, 21 Feb 2020 17:53:49 +0000
ALBAY Second District Rep. Jose Maria Clemente “Joey” Salceda defended on Friday his measure amending the 84-year-old Public Service Act (PSA) that includes redefining the term “public utility,” saying it would create more jobs in certain industries and bolster competition. According to the lawmaker, who heads the Committee on Ways and Means of the House […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 20 Feb 2020 17:33:06 +0000
THE Philippines’ balance of payments (BoP) reverted to a 16-month high deficit of $1.35 billion in the first month of the year, which the Bangko Sentral ng Pilipinas (BSP) attributed to foreign currency withdrawals. Central bank data showed that the amount was a turnaround of the $2.70-billion and $1.57-billion surplus recorded in January and December […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 20 Feb 2020 17:28:50 +0000
GEOPOLITICAL tensions and the coronavirus disease 2019 (Covid-2019) outbreak lead to net outflows of foreign portfolio investments reaching an eight-month high in January, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. In a statement, the BSP said last month’s $486.10-million net outflows of these investments, also called “hot money” — so called because of […]
Read more