The Duterte administration has raised its domestic borrowing program next month as the government plans to hold a weekly auction of long-term IOUs, data from the Bureau of the Treasury showed. According to an online advisory released on today, May 26, the Treasury indicated that the national...
Alcantara-led Alsons Consolidated Resources Inc. (ACR) registered increase in its first quarter net earnings to P379 million versus year ago’s P310 million. The income attributable to the parent firm has also gone up to P93 million compared to a leaner P55 million within the same three-month...
Major oil firm Pilipinas Shell Petroleum Corporation is back on financial rally posting P1-billion net income lin the first quarter, effectively snuffing out the substantial P5.5- billion loss in the same period last year. The company said its return to profitability had been propelled by “new...
Senator Sherwin Gatchalian proposed on Saturday, May 8, deductions to taxes imposed on workers who have been telecommuting to make up for their expenses for working at home. Senator Sherwin Gatchalian (Senate of the Philippines/MANILA BULLETIN File Photo) Gatchalian issued the call as he cited the...
In spite of the extremely challenging pandemic year, Uy-led Phoenix Petroleum Philippines Inc. was still able to post marginal income of P63 million last year primarily due its strong showing in the fourth quarter. The oil firm said it logged P158 million net earnings in the fourth quarter...
Development Bank of the Philippines (DBP)’s total assets reached P1.04-trillion last year, up 37 percent from P761.24 billion in 2019, as deposits grew 47.6 percent to P817.9 billion and investments increased 26 percent to P260.1 billion. Development Bank of the Philippines headquarters in Makati...
Despite a 16 percent fall in its 2020 earnings because of the pandemic, the Philippine Ports Authority (PPA) decided to give P3.5 billion, or 56 percent of its P6.138 billion income, to the national coffers. While the agency is required by law to turn over at least 50 percent of its annual net...
Top tier incentives, primarily a six-year income tax holiday (ITH), is being sought for energy efficiency projects especially those that shall be undertaken by energy service companies (ESCOs). That has been the call put forward by the Philippine Energy Efficiency Alliance (PE2) in its meeting with...
It has been a challenging year for the whole world, and the Philippines is not exempted from this. With Covid-19 still out there, the vaccine has yet to reach us, and the economy heavily affected, Filipinos are trying their best to keep themselves healthy and make ends meet. With lower or no...
Latest WB report on PH As many as 2.7 million Filipinos will slip into poverty this year due to the economic disruptions brought about by the coronavirus pandemic, the World Bank said. In a report, “Philippines Economic Update,” the Washington-based institution estimated that poverty rate...
