30 C
Makati City
Monday, February 27, 2017
The Department of Finance would not allow itself to be rushed into adopting a set of rules and regulations for so-called real-estate investment trusts (REITs) no matter the continued absence of such a mechanism some eight years since its legislative framework passed. This surfaced on Tuesday in an interview with...
The Bureau of Treasury (BTr) on Tuesday allowed the three-year Treasury bond (T-bond) rate to move up and sold all P15 billion worth of reissued IOUs with remaining shelf life of two years and 11 months due to the strong and healthy demand from the market. The three-year T-bond rate...
The Bureau of Internal Revenue (BIR) plans expanding the taxpayer base falling under the Large Taxpayers Service (LTS) to 3,000 or more this year, from only 2,320 at present. According to BIR Commissioner Caesar R. Dulay, the expansion of covered entities under the LTS program is one of the priority...
The Asian Development Bank (ADB) approved $3.7 billion in climate-finance investments in 2016, according to recently released figures—marking a 42-percent boost, from the $2.6 billion reached in 2015. Estimates show that in 2016, climate finance from ADB’s internal sources reached a record $2.65 billion for climate mitigation and $1.08...

‘Tis the season for love

“You have heard that it was said, ‘Love your neighbor and hate your enemy.’ But I tell you, love your enemies and pray for those who persecute you, that you may be children of your Father in heaven. He causes His sun to rise on the evil and the good, and...
There should not be any surprises from Bangko Sentral ng Pilipinas (BSP) and from the policy-making Monetary Board when its members meet again on February 16 to decide on a policy stance. The local markets anticipate the continued observance of the monetary-policy settings as inflation trends up and to the...
The Large Taxpayers Service (LTS) unit of the Bureau of Internal Revenue (BIR) is expected to collect at least P1.105 trillion from some 2,320 large companies this year and help boost overall collection. The LTS generated collections totaling P963 billion in 2016 and short of its collection target of P1.0035...
By Jun Ebias / Special to the BusinessMirror In a country ruled by big businesses, wealthy families and influential oligarchs, making sure that fair competition and a level-playing field across industries exist, and are practiced is a herculean task. It’s tough to say the least. But trust the men and women at...
Difficulties in securing a business permit from city hall officials in Cebu City have compelled BDO Unibank to make alternative arrangements to ensure that its clients and depositors continue to be serviced no matter the practical problems thrown its way. The universal lender issued a statement on Monday saying normal...
Deputy Speaker Mylene J. Garcia-Albano of the Second District of Davao City commended the Bureau of Internal Revenue (BIR) for initiating an industry-wide investigation on the massive proliferation of fake tax strip stamps on cigarette packs. “It is the government’s duty to ensure impartiality in investigating all players in the...
By James Murray / www.greenbiz.com The Paris Agreement and the global divestment campaign has secured one of its biggest victories to date, after banking giant Deutsche Bank announced it would halt investment in new coal projects in line with its commitment to the international climate change treaty. In a short statement on...
By Rea Cu @ReaCuBM The Philippine Reclamation Authority (PRA) anticipates pursuing more than 600 projects over the coming years, including an environmentally conscious project, called Legacy Island on Water (LIoW), eyed for completion by 2022. The LIoW is seen completed by 2022 or earlier. The PRA defines the island as an area...
In a subtle rebuke of the Lower House, the Senate leadership has practically frozen further action on the House bill prescribing a return to two-tier rates on cigarettes by ordering its two major Senate committees to undertake a review of the current “sin” tax law before any amendments are...
The Bangko Sentral ng Pilipinas (BSP) on Thursday said the continued freezing of interest rates by the US Federal Reserve (the Fed) was in line with expectations and will form part of a matrix of events for evaluation when the policy-setting Monetary Board lays down its own assessment when...

Hindsight

We all know that hindsight is 20/20, but of what use is it?  For sure, we can learn many things from events that have happened in the past, particularly in predicting the behavior of financial markets. However the big question is who to listen to when it comes to analyzing...
The indebted state of the national government pushed past the P5-trillion level for the first time in September last year, latest data from the Department of Finance (DOF) show. But while the nominal debt level has expanded in rather dramatic fashion, core government debt viewed against the all-important local output...
Beijing has agreed to study Manila’s proposal to implement through hybrid or cofinancing arrangements with multilateral institutions the big-ticket Philippine projects that had been submitted to China for possible funding. Finance Secretary Carlos  D. Dominguez III, who led a top-level government delegation to Beijing last week, said China Commerce Minister...
THE auction sale of term deposits at the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed a clear preference for short-dated tenors as players remained cautious ahead of the United States Federal Reserve (the Fed) rate-setting meeting this week. Term-deposit facility (TDF) auction results indicated strong interest by commercial banks and trust...
FORMER Finance Secretary Margarito B. Teves and leaders in the various sectors have expressed to Congress their support for a provision under House Bill 4774, which seeks to adjust the diesel excise tax and link this to inflation, as part of a government plan to raise funds for a public...
FUNDS managed by Insular Life, the first and largest Filipino-owned insurance company, came out strong from last year’s roller-coaster ride for Philippine stocks, rewarding its investors with “very decent returns”. “The peso funds outperformed the market in general,” said Vera Morales, Insular head of investment management division. From starting level of 6,952,...