The Department of Finance (DOF) is set to launch an online tool that aims to streamline the reporting of data pertaining to the debts and other liabilities of government-owned and -controlled corporations (GOCCs). In a report to Finance Secretary Carlos Dominguez III, Joan Castillo, DOF’s...
Deposit accounts opened through the Overseas Filipino Bank's (OFBank) digital onboarding system more than doubled in the first semester of the year, the Department of Finance (DOF) said. OFBank In a statement released by the DOF on Monday, Aug.30, the department reported that total deposit accounts...
As the government looks for money to run a nation grappling with the impacts of the prolonged pandemic, President Duterte’s chief economic manager revealed that selling state-assets is no longer the best option. Finance Secretary Carlos Dominguez III “We don't have any more crown jewels,”...
Albay Rep. Edcel Lagman on Friday, Aug. 27, suggested the audit of the government’s billions of pesos expenditure for the 2019 coronavirus disease (COVID-19) vaccination program. CDA3E812-89E8-4023-B6CF-1B66F6F5ECD3 The veteran independent lawmaker made the call as government continued to reject...
The bill seeking to amend provisions in the Philippine Deposit Insurance Corporation’s (PDIC) Charter is now up for Senate plenary discussions. Senator Sonny Angara, who chairs the Senate Finance Committee, on Wednesday night (Aug. 25), has sponsored Committee Report No. 287 on Senate Bill No....
President Duterte’s economic mangers said the economy will return to pre-pandemic levels within the next two-years, reassuring Congress that the country has the capacity for a rapid expansion pace. (JANSEN ROMERO : MANILA BULLETIN) During the House Committee on Appropriations’ deliberations on...
The government’s chief economic manager said he is “happy” with the implementation of the China-funded projects that the country received since President Duterte took the reins of power more than five-years ago. Despite skepticism about Chinese loans, Finance Secretary Carlos G. Dominguez III...
Labor group Defend Jobs Philippines has slammed the government’s imposition of new tax measures on players of online play-to-earn (P2E) games such as Axie Infinity. (Photo from Alexandria San Juan) This, after the Department of Finance (DOF) earlier pronounced that earnings from these gaming...
Earnings from online play-to-earn games, such as Axie Infinity, are taxable, the Department of Finance (DOF) said. Axie Infinity Amid a rapid rise in popularity of online multiplayer video games that also allow players to generate profits, Finance Undersecretary Antonette C. Tiono said that...
SB Finance Company, a subsidiary of Security Bank Corporation, has partnered with FinScore to enhance its credit scoring efforts using alternative data in order to serve many Filipinos who lack a financial history. Using FinScore’s Telco Credit Scoring Solution, SB Finance said it will be able to...
The Japan International Cooperation Agency (JICA) approved the fourth and final tranche of its standby loan, which will be used in the Philippines’ post-pandemic recovery programs, the Department of Finance (DOF) announced. JICA In a statement, Finance Secretary Carlos G. Dominguez III said the...
The government’s chief economic manager said the two-week enhanced community quarantine (ECQ) has been a big achievement for the country’s inoculation program despite the sustained surge in infections. COVID-19 vaccine Finance Secretary Carlos G. Dominguez III said Friday, August 20, that the...
