COVID-19 impact: Customs collection goal cut to P706.9B
The Duterte economic team has slashed the Bureau of Customs’ (BOC) target collection of import duties and other taxes for 2020 to P706.9 billion in light of the COVID-19 pandemic’s…
Neda chief: Pandemic to cost PH economy P1.1T in 2020
The Philippine economy can still crawl its way to positive growth in the first quarter of 2020 but will suffer up to P1.1 trillion in revenue loss the entire year…
Dominguez on post-pandemic stimulus: Citira is it
The Corporate Income Tax and Incentives Reform Act (Citira) can serve as stimulus for a post-pandemic economy as it would attract more investments and create jobs, Finance Secretary Carlos G.…
DOF orders LGU treasurers to monitor use of COVID-19 grants
The Department of Finance (DOF) has ordered local treasurers to monitor the use of grants that their local government units (LGUs) had received for COVID-19 response. The DOF’s Bureau of…
COVID-19 impact: Spanish think tank slashes PH growth forecast to 1.4 percent
Barcelona-based FocusEconomics has slashed its 2020 growth forecast for the Philippines to 1.4 percent as the COVID-19 pandemic and the local lockdown to fight the disease deeply hurt the economy.…
Metrobank’s Q1 profit down 9.3% on higher loan loss buffer
Metropolitan Bank & Trust Co. chalked up P6.1 billion in net income for the first quarter, down by 9.3 percent year-on-year, on higher provisions made for possible credit losses given…
BSP’s March dollar reserves up, boosting peso’s strength
MANILA, Philippines — The Philippines’ dollar reserves rose for the second month in a row despite the onset of the coronavirus crisis in March, thanks to the central bank’s foreign…
Asian shares rise on hopes for drug to treat coronavirus
TOKYO — Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to…
AEV’s Q1 net profit down by 42% on slower power business
Conglomerate Aboitiz Equity Ventures (AEV) posted a 42 percent drop in first quarter net profit to P2 billion mostly due to slower earnings from its flagship power business. AEV also…
Stocks charge higher on hopes for progress in fighting virus
Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19. A man wearing face mask walks past a bank…