ECQ impact on economy ‘more severe than expected’
The Philippines is bracing for a worse-than-expected drop in gross domestic product (GDP) in the second quarter as the country’s chief economist on Friday said the COVID-19 lockdown inflicted more…
‘Force majeure’ sets off another drop in Meralco rates
Manila Electric Co.’s (Meralco) overall rates will decrease by 2.86 centavos per kilowatt-hour in the July billing, the fourth reduction in as many months, as the distribution giant continues to…
Group seeks release of P1.4B in farm credit fund
The Federation of Free Farmers (FFF) urged the Department of Budget and Management (DBM) on Friday to immediately release the remaining funds under the Agricultural Competitiveness Enhancement Fund (ACEF) to…
PSEi inches up on bargain hunting
The local stock barometer ended marginally higher on Friday after falling most days of the week due to concerns on rising coronavirus infections locally. The main-share Philippine Stock Exchange index…
SEC approves first ever listing of a REIT company
Property giant Ayala Land Inc. has obtained approval from the Securities and Exchange Commission (SEC) to bring to public hands the country’s very first real estate investment trust (REIT) that…
BIR moves to plug tax leaks from related-party transactions
To plug hefty tax leakages from local and foreign deals involving related parties, the Bureau of Internal Revenue (BIR) on Friday mandated reporting of these types of transactions. The country’s…
At P5,000 each, 5-yr retail treasury bonds for sale starting July 16 via app, online channels
The Bureau of the Treasury will auction off an initial P30 billion in five-year retail treasury bonds (RTBs) on July 16 before making these available to small investors on a…
DOF warns of cybercrime surge as pandemic drives hike in online money transactions
As more and more Filipinos go online for their financial transactions amid the COVID-19 pandemic, officials have warned of a surge in cybercrime as criminals also adjust to this “new…
Banks do part in BSP’s e-payment thrust, waive service fees
Clients of some of the country’s biggest banks will get for free the services of two major digital payment channels until the end of the third quarter as some financial…
Zobel: harness science, tech to create “better” normal
Ayala Corp. chair and CEO Jaime Augusto Zobel de Ayala As the world continues to battle the ongoing coronavirus (COVID-19) pandemic, the Philippines can harness science and technology to create…