BW FILE PHOTO THE NATIONAL Government's outstanding debt inched up to a new high of P11.166 trillion at the end of June, amid an increase in foreign borrowings to finance the pandemic response. Preliminary data from the Bureau of the Treasury (BTr) showed the National Government's debt stock rose by 0.9% from its end-May total of P11.07 trillion. This is ...
PHILIPPINE STAR/ MICHAEL VARCAS AUTOMAKERS are facing less uncertainty following the Tariff Commission's recent finding that there is no basis for the imposition of safeguard duties on vehicle imports. "The final report issued by the Tariff Commission finding that there is no basis for the imposition of safeguard duty has put to rest the uncertainties brought about by the petition," ...
THE PHILIPPINE Stock Exchange (PSE) is hoping that more property developers, even small- and medium-sized firms, will consider entering the real estate investment trust (REIT) market. "We are pushing for this REIT product not only for the big real estate developers, but we wanted to target the medium and even the small property developers so that they could recycle their ...
THE Bureau of Internal Revenue has suspended its recent order that imposed a 12% value-added tax on previously exempt raw materials sold by local manufacturers to exporters. -- REUTERSTHE BUREAU of Internal Revenue (BIR) suspended its recent order that imposed a 12% value-added tax (VAT) on previously exempt raw materials sold by local manufacturers to exporters, after outcry from the ...
THE Federal Reserve Board building is pictured in Washington, US, March 19, 2019. -- REUTERSFEDERAL RESERVE officials are moving closer to when they can start reducing massive support for the US economy, though chief Jerome Powell said there was still some way to go. "We're not there. And we see ourselves as having some ground to cover to get there," ...
ABOITIZ GROUP ABOITIZ Equity Ventures, Inc. (AEV) posted a 159% year-on-year increase in its consolidated net income for the second quarter to P4.9 billion on the back of its business segments' robust contribution. AEV said in a stock exchange disclosure on Thursday that it recognized one-times gains of P49 million during the period, against P242 million a year earlier, for ...
PETROENERGY Resources Corp. said on Thursday that it will be focusing more on the power generation business as it hopes to grow into one of the most profitable listed energy companies in the Philippines. "These are exciting times for our company as we transition more and more into the power generation business. We have a lot on our plate, which ...
P.V. SINDHU of India in action during the Women's Singles Badminton match against Mia Blichfeldt of Denmark on July 29, at the Tokyo 2020 Olympics. -- REUTERS/LEONHARD FOEGER TOKYO -- Female athletes have fought long and hard for the right to choose what they wear when they compete at the Olympics, and at the Tokyo Games more and more athletes ...
CHINA BANKING CORP. (China Bank) saw its net income climb 39% in the first half on the back of the strong performance of its core businesses. The bank booked a net profit of P7.3 billion in the first semester, climbing from the P5.2 billion posted in the same period last year, it said in a disclosure to the local bourse ...
A WHOLLY owned subsidiary of Jollibee Foods Corp. (JFC) has agreed to form a joint venture company that will own and set up at least 120 Jollibee stores in West Malaysia for the next 10 years beginning 2022. West Malaysia covers the country's capital, Kuala Lumpur. Singapore-based JFC unit Golden Plate Pte. Ltd. and Beeworks Investment Pte. Ltd. have committed ...