Shell Philippines Exploration B.V., the operator of the multi-billion Malampaya gas field project, bagged anew the Philippine Extractive Industries Transparency Initiative (PH-EITI) Award for “excellence in reporting’ under the oil and gas category. That recognition had been bestowed on SPEX...
The Bangko Sentral ng Pilipinas (BSP) reported Monday that gross international reserves (GIR) dipped to $108.799 billion in January from December 2020’s $110.117 billion due to government withdrawals to pay for foreign-denominated loans, and changes in the price of gold. The BSP in a statement...
The stock market weakened as investors continued to pocket gains while waiting for more cues to buy up stocks. Photo credit: https://www.pse.com.ph The main index dropped 31.8 points or 0.45 percent to close at 6,959.21 with only the Financials and Mining and Oil counters holding their...
The soon-to-be enacted Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) will strengthen the culture of research, development, and innovation in the country, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said that CREATE has the tool to promote a...
The Bureau of Internal Revenue (BIR), the government’s main tax collection agency, has laid down its programs for the year to raise its collection performance to support its goal for a 7.23 percent increase in tax collection this year. In a statement, BIR Commissioner Caesar R. Dulay said the...
The national government has infused new capital to the Development Bank of the Philippines (DBP) to provide additional buffer for the state-lender’s coronavirus response programs. In a statement, Finance Secretary Carlos G. Dominguez III said the government has recently released P12.5 billion in...
The National Economic and Development Authority (NEDA), the country's chief economic development planner, said the country needs to strike a better balance in managing the health and economic threats, particularly in Metro Manila where almost a quarter of its population suffer from hunger. Acting...
Think tank Action for Economic Reforms (AER) has called on President Duterte to line item veto some provisions of the ratified corporate recovery and tax incentives for enterprises (CREATE) bill. In a statement, AER raised five concerns regarding certain provisions of the CREATE bill that was...
Finance Secretary Carlos G. Dominguez III has commended the Bureau of Customs for its better-than-expected revenues last year while ensuring the free flow of goods and redoubling its campaign against smuggling. During the Customs anniversary celebration last Tuesday, Dominguez said the...
The Philippine government is eyeing a way bigger minimum access volume (MAV) allocation, or about 388,790 metric tons (MT), for pork. This is just one of the proposals of the Department of Agriculture (DA) in terms of addressing the shortfall in the supply of the commodity as well as bring down its...
The Department of Finance (DOF) worked closely with lawmakers last year in providing technical support leading to swift congressional action on legislative measures that aim to rescue businesses, provide emergency assistance to vulnerable sectors and keep the economy afloat amid the crisis arising...
The Duterte administration has borrowed P741.59 billion from foreign creditors last year for the country’s coronavirus response, the Department of Finance (DOF) said. Data from the DOF’s International Finance Group (IFG) showed that the government has contracted a total of $17.06 billion,...
