BW FILE PHOTO THE government raised P1.857 trillion from both domestic and foreign lenders in the first seven months of the year, as it borrowed more to fund the growing expenses related to the pandemic. Data from the Bureau of the Treasury (BTr) showed National Government gross borrowings surged 121% from the P839.7 billion logged […]
The Bureau of Internal Revenue (BIR) is offering a voluntary assessment and payment program, as it seeks to reduce tax audit investigations amid the pandemic. — PHILIPPINE STAR/KRIZ JOHN ROSALES By Beatrice M. Laforga, Reporter THE Bureau of Internal Revenue (BIR) is offering a program to allow taxpayers to voluntarily settle their tax arrears, as […]
The Philippine central bank is shifting to active gold trading, Governor Benjamin E. Diokno said. — CHRIS RATCLIFFE/BLOOMBERG THE central bank’s decision to go into active gold trading is seen as a timely move, as the price of the safe-haven asset has risen amid the pandemic, analysts said. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin […]
By Arjay L. Balinbin, Senior Reporter THE proposed measure that seeks to grant San Miguel Aerocity, Inc. various tax incentives for the P740-billion Bulacan airport project — including income tax exemption for the entire 50-year concession period — is likely to get strong support from senators. “I’m supportive. It will give the builder honest-to-goodness incentives […]
XTREME President and CEO Richard Lim By Denise A. Valdez, Senior Reporter A LOCAL distributor of home appliances is aiming to become a household staple by tapping the provincial market and offering products at bargain prices. XTREME Appliances (Suntouch Technology Corp.) is bullish to spend P100 million to open 20 personally branded stores this year […]
BW FILE PHOTO RATES OF the government securities (GS) on offer this week will likely move sideways on ample demand amid strong market liquidity and as inflation eased in August. The Bureau of the Treasury (BTr) is set to borrow P20 billion from Treasury bills (T-bills) on Monday: P5 billion each from 91- and 182-day […]
THE REHABILITATION of Marawi can be supported by the establishment of Islamic lenders and banking units that have Shariah compliant mechanisms as this can aid small businesses and build infrastructure in the war-torn area, an official of the Bangko Sentral ng Pilipinas (BSP) said. “Islamic banking can play an important role in the rehabilitation of […]
1 of 5 FIVE Filipino designers showed their mettle late last month in Singapore’s first virtual fashion show. The project, conceptualized by Daniel Boey, with the cooperation of AP Media, was presented in the last days of August via an immersive 3D website, thefrontrow.style. The show featured several local and regional designers from the Asia-Pacific […]
THE Securities and Exchange Commission (SEC) is warning against a group operated by online personality and convicted scammer Xian Gaza (Christian Albert Gaza) for soliciting investments from the public without a license. In an advisory on its website, the corporate regulator flagged Cristiano Alberto Real Estate Fund (CARE Fund) as an unregistered business that has […]
THE Department of Finance (DoF) expressed the hope that the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) is passed sometime this month, before Congress takes a month-long break in mid-October, Finance Assistant Secretary and the department’s spokesman, Assistant Secretary Antonio G. Lambino II, said. “We hope CREATE will be passed this month,” […]