The Philippines is calling for increased climate financing for vulnerable nations at the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, following recent typhoons that hit the country. Department of Finance (DOF) Undersecretary Maria Luwalhati Dorotan-Tiuseco stated during the...
Homegrown non-bank Asialink Finance Corp. (AFC) has secured a total of at least $200 million (over P11.7 billion) in loans from two multilateral lenders to support its small business lending in the Philippines. Minutes of an Oct. 9 meeting of the Washington-based International Finance Corp. (IFC)...
In less than 10 minutes, the Senate adopted the 2025 budget of the Office of the Vice President (OVP) on Wednesday, Nov. 13. No senator came forward to interpellate and raise questions pertaining to the P733-million budget proposed by the Senate finance committee chaired by Senator Grace Poe. OVP's...
Department of Finance (DOF) Secretary Ralph G. Recto has urged GCash, the Philippine Digital Asset Exchange (PDAX) Inc., and regulators to expedite the launch of GBonds for financial inclusion for Filipinos. Recto announced, during the Bureau of the Treasury’s (BTr) 127th Anniversary and...
Southeast Asian countries like the Philippines stand to benefit from greater interest among global investors looking to finance profitable and scalable decarbonization as well as "green" projects in the region. On the sidelines of the ongoing 29th Conference of the Parties (COP29) to the United...
Senator Joel Villanueva underscored the need to ensure that sufficient funding is allocated for the implementation of enacted laws. Villanueva, Senior Vice Chairperson of the Senate Committee on Finance, pointed out that a 2023 Department of Budget and Management (DBM) report revealed that over 200...
Local businesses can now adopt work-from-home setups without losing valuable tax incentives as the newly enacted Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act officially permits flexible work arrangements. The...
Multiple reports of violators on the EDSA busway seemed to prompt Senator Raffy Tulfo to ask the Metropolitan Manila Development Authority (MMDA) the question: "Where are your big bikes for catching violators?" He brought this up during the plenary budget deliberations led by Senate Committee on...
Soaring interest payments, especially for debts that piled up to fight the Covid-19 pandemic, may slow down fiscal consolidation or budget-deficit reduction in the Philippines, according to the think tank Oxford Economics. "Because government deficits have ballooned quickly in the last few years, a...
The Senate is keen on scrutinizing once again all funds allocated for flood control mitigation but there is a necessity to also inquire into the government’s programs on climate change and climate adaptation, Senate President Francis “Chiz” Escudero said on Sunday, November 3. The...
The Marcos administration is actively courting British investors, encouraging them to choose the Philippines as the location for their business expansion, the Department of Finance (DOF). Among the prominent British companies that the delegation engaged with were Actis, BP Plc, Global...
The Philippines needs to keep pursuing tax reform measures pending in Congress en route to its plan to narrow its yawning budget deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for October 2024, the World Bank noted that the fiscal deficit as a share of...
