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By LAILANY P. GOMEZ, Manila Times The Bangko Sentral ng Pilipinas (BSP) said it may turn in a lower income this year on the back of the peso’s strength. BSP Governor Amando Tetangco Jr. said the central bank incurs losses whenever the peso appreciates because its foreign reserves are...
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By LAILANY P. GOMEZ, Manila Times THE Philippine central bank said an increase in foreign direct investment (FDI) would accompany the faster economic growth forecast by the government. “There’s a lag in getting FDI numbers, so it should not be compared to hot money. But, with the...
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By BERNIE CAHILES-MAGKILAT, Manila Bulletin Six property developers are challenging the unsolicited proposal of SM Land Inc.’s (SMLI) to develop the 33.1 hectare property in Bonifacio South in Global City.Bases Conversion and Development Authority executive vice president and spokesperson...
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BY KATRINA MENNEN A. VALDEZ, Manila Times THE Aquino administration plans to tap state-run pension funds and financial institutions to raise money for its public-private partnership (PPP) initiative. During a Senate Committee on Finance hearing on Monday, Department of Finance (DOF)...
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By CHINO S. LEYCO, Manila Bulletin The government is expecting a 9.5 percent decrease in its excise tax collection on goods next year as the country’s excise tax regime has yet to be rationalized and fuel imports are expected to remain low, latest data from the Department of Finance...
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By BEN ARNOLD O. DE VERA, Manila Times MICROWAVABLE bananas”—at present produced only for export by a Davao-based company—would soon be available in 7-Eleven convenience stores, an official of the Department of Trade and Industry said. Trade Undersecretary Merly Cruz told reporters...
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By KRISTA ANGELA M. MONTEALEGRE, Manila TimesPHILIPPINE stocks and the peso are likely to continue their rally this week on the back of a brighter outlook for the US and Philippine economies. The big rally in Wall Street fuelled by better than expected economic figures will provide a strong start...
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By KATRINA MENNEN A. VALDEZ, Manila Times THE Department of Finance (DOF) will file at least two administrative and criminal cases against erring government officers every month. Newly appointed Finance Undersecretary Carlo Carag, who heads the Revenue, Operations and Legal affairs...
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By KATRINA MENNEN A. VALDEZ, Manila TimesCASH is king, as far as the new head of the Bureau of Customs (BOC) is concerned.Commissioner Angelito Alvarez said the agency would be disregarding the contribution of the Tax Expenditure Fund (TEF) when reckoning with its collection goal this year. “I...
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By LAILANY P. GOMEZ, Manila TimesTHE Philippine central bank is set to review its balance of payments (BOP) projection for this year, with the possibility of raising its forecast amid healthy numbers. Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said the policy-making Monetary...
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