Business NEWS

The Bureau of the Treasury raised P35 billion through the sale of its newly-issued bonds at an auction on Tuesday, April 6.

The rate of increase in consumer prices softened in March this year after five consecutive months of acceleration, the Philippine Statistics Authority (PSA) reported on Tuesday, April 6.

The average yield of the Bangko Sentral ng Pilipinas (BSP) 28-day bills continue to drop to 1.9156 percent from 1.9343 percent while remaining oversubscribed.

The extended enhanced community quarantine (ECQ) in Metro Manila and nearly provinces will push more than 100,000 additional Filipinos into poverty as these stringent lockdowns are seen take a heavier toll on the economy, jobs and household income.

After five months of acceleration, the rate of increase in consumer prices slowed down in March due to lower cost of food items, the Philippine Statistics Authority (PSA) reported today, April 6.

The Bangko Sentral ng Pilipinas (BSP) and the Cooperative Development Authority (CDA) are working more closely to improve funding access of micro, small and medium enterprises (MSME) via the Credit Surety Fund (CSF).

The Philippine peso and the Thai baht offer a tale of contrasting fortunes, with one faring better than the other against a strong dollar.

The Bureau of the Treasury received mixed results at Monday’s (April 5) auction, but allowed the government to raise P25 billion as planned.

The peso closed lower  at P48.635 to the US dollar Monday, (April 5)  from P48.53 last Wednesday.  The weighted average rate  depreciated  to  P48.556  from P48.544. Total volume amounted  to  $637.3 million, according to the Bankers Association of the Philippines.

The Bureau of the Treasury (BTr) has covered trillions worth of non-financial government assets such as roads, school buildings and power plants for inclusion in the National Asset Registry System (NARS), the Department of Finance (DOF) said.

All financing and lending companies are now required by the Securities and Exchange Commission (SEC) to register with the Anti-Money Laundering Council (AMLC).

Overseas Filipino Bank (OF Bank), a subsidiary of government-owned Land Bank of the Philippines, has become the country’s first online-only bank after the Bangko Sentral ng Pilipinas (BSP) granted it digital banking license on Maundy Thursday.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Wednesday that March inflation may have come down to 4.6 percent from 4.7 percent in February with government’s non-BSP actions and improved supply conditions.

The notices of disallowance (NDs) on the tax credit certificates (TCCs) issued to several textile companies over a decade ago continue to pile up, with the Commission on Audit (COA) having invalidated so far close to P1.2 billion-worth of these illegal tax perks.

The Philippines’ international investment position (IIP) in 2020 improved to a net external liability of $20.2 billion, the Bangko Sentral ng Pilipinas (BSP) said.

The Bureau of Internal Revenue (BIR) has allowed the filing of tax returns and the payment of taxes falling within the period of March 22 to April 30 this year to be filed anywhere, even outside the jurisdiction of the Revenue District Office (RDO) where the taxpayer is registered. 

State-run Social Security System (SSS) has delayed the implementation of the mandatory use of payment reference number (PRN) for short-term loan payments to May 1 from its April 1 schedule. 

The Bangko Sentral ng Pilipinas (BSP) registered $40.41 million of net foreign portfolio investments or hot money outflows in February, reversing the $40.06 million net inflows same time in 2020.