The Department of Finance (DOF) has assured the public that the national government is fully prepared financially to support relief and rehabilitation efforts in areas impacted by the devastation of Typhoon Kristine. Finance Secretary Ralph G. Recto said the government has adequate funds available...
A Mauritius-based fund manager is eyeing a $50-million investment from the International Finance Corp. (IFC) to support medium-sized firms in the South and Southeast Asian regions, including the Philippines. The IFC disclosed on Oct. 22 that Creador Management VI Ltd. sought funding from the World...
By DERCO ROSAL Amid concerns about a potential Donald Trump victory and its impact on global trade, President Marcos’ chief economic manager expressed optimism about the Philippines' strong relationship with Washington and projected a surge in investment from US companies. In a briefing in...
By DERCO ROSAL The Department of Finance (DOF) is urging swift action to finalize a new climate financing framework by next year, aiming to help developing countries balance growth and tackle climate challenges. As a major element of the Paris Agreement, the country is calling for the completion of...
The Bureau of Customs (BOC) has confiscated P72.1 billion worth of smuggled goods in the first 10 months of 2024, exceeding its total seizures of P43.29 billion from the previous year. At the BOC’s Inter-Agency Intelligence Summit on Oct. 18, Customs Commissioner Bienvenido Y. Rubio credited the...
State-owned Social Housing Finance Corporation (SHFC), AVECS Corporation, Bulacan’s local government have partnered to develop 1,000 housing units in the municipality of Pulilan. Signed on Oct. 16, the memorandum of understanding (MOU) outlined a collaboration for the construction of Mom’s...
Ayala Land Inc. (ALI) has secured a $250-million (about P14.3-billion) loan from the International Finance Corp. (IFC) to fund its net-zero emissions ambition, including the "greening" of 10 malls in Cebu and Metro Manila. The IFC disclosed on Monday, Oct. 14, that it already invested in ALI's up...
The Department of Finance (DOF) reported that collections from the government’s two main tax agencies showed strong double-digit growth in the first nine months of the year. The Bureau of Internal Revenue (BIR) and the Bureau of Customs collectively gathered P2.771 trillion from January to...
The International Finance Corp. (IFC) has green-lit a loan package for Filipino firm Asialink Finance Corp. (AFC) to help boost small business lending in the Philippines. The private-sector lending arm of the World Bank Group (WBG) disclosed on Friday, Oct. 11, that the senior loan financing...
By DERCO ROSAL After securing the deal, President Marcos’ chief economic manager stated that South Korea’s funding for three major infrastructure projects will create more jobs and expand businesses in the country. “Beyond enhancing mobility, they will create jobs, spur businesses, boost...
The proposed Capital Market Efficiency Promotion Act (CMEPA) being pushed by the Legislative-Executive Development Advisory Council (LEDAC) has removed the planned reimposition of excise tax on pick-up trucks such that the bill, if passed into law, would result in foregone revenues for the...
The Philippine Chamber of Commerce and Industry (PCCI) said that the imposition of value-added tax (VAT) on non-resident digital service providers creates a fairer competitive landscape for local businesses. In a statement, Enunina Mangio, PCCI president, said the recent signing of the VAT on...
