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Trade gap expected to widen further
The Philippines’ trade deficit is expected to widen further this year amid weaker exports and stronger imports, according to Dutch financial giant ING......»»
The Future of Work: AI’s Double-Edged Sword for Global Economies
Artificial Intelligence (AI) holds promise in revolutionizing global productivity and economic growth. However, the flip side includes potential job displacement and a widening wealth gap. Without proper policies, nations may struggle to adapt to this emerging technology. The International Monetary Fund (IMF) indicates that nearly 40% of global jobs could be influenced by AI. In […].....»»
Government hikes borrowings to P2.57 trillion for this year
The Philippines raised its 2024 borrowing program by four percent to P2.57 trillion, which could make fiscal consolidation more challenging for the government......»»
Mitsubishi Philippines names new president
Mitsubishi Motors Philippines Corp. is aiming to grow its sales by 15 percent this fiscal year as it officially welcomed its new president......»»
Top Japanese contractor Taisei Corp. invests in PetroGreen Unit
Founded in 1873, Taisei Corp. is among Japan’s top 5 general contractors building ports and harbors, bridges and tunnels, power stations, industrial complexes and commercial buildings in over 65 countries. In fiscal year 2022, Taisei Group recorded total net sales of $12.3 billion. .....»»
Budget shortfall unlikely to return to pre-COVID-19 level — DBCC
Nearly two years into the term of the Marcos administration, government economists acknowledged that reducing the country’s budget deficit would take longer than initially projected amid the need to still support key programs despite a limited fiscal space, with returning to pre-COVID levels unlikely to happen in the short-term......»»
Budget shortfall unlikely to return to pre-COVID-19 level — DBCC
Nearly two years into the term of the Marcos administration, government economists acknowledged that reducing the country’s budget deficit would take longer than initially projected amid the need to still support key programs despite a limited fiscal space, with returning to pre-COVID levels unlikely to happen in the short-term......»»
Budget shortfall unlikely to return to pre-COVID-19 level — DBCC
Nearly two years into the term of the Marcos administration, government economists acknowledged that reducing the country’s budget deficit would take longer than initially projected amid the need to still support key programs despite a limited fiscal space, with returning to pre-COVID levels unlikely to happen in the short-term......»»
Roxas Holdings’ net loss triples to P2.2 billion
The net loss of sugar and ethanol producer Roxas Holdings Inc. more than tripled in its fiscal year 2023 as the group reeled from the closure of its milling operations......»»
Royalty on mining operations outside reservations pushed
The Mines and Geosciences Bureau (MGB) said that mining operations outside mineral reservations must pay a royalty as part of the government’s rationalization of the country’s mining fiscal regime......»»
Del Monte swings to net loss in 9 months
Del Monte Pacific Ltd. expects to finish its fiscal year 2024 in the red as the company slipped to a net loss in the nine months ending January......»»
GOCC subsidies down 18 percent to P164 billion in 2023
Budgetary support to state-run firms slipped to P164 billion last year amid a tight fiscal space but the health and agriculture sectors remain the priorities for subsidies......»»
P146 billion airport contracts set for signing this year
The Department of Transportation will sign this year more than P146 billion worth of contracts for the privatization of four airports, freeing up fiscal space for the government and building up the public-private partnership landscape......»»
‘Mining should be part of government priority projects’
The government should include mining in its investment priority projects and extend more fiscal incentives to further attract investments in the sector, according to the Chamber of Mines of the Philippines......»»
IFC investing $500 million to address Philippines development challenges
The private sector arm of the World Bank Group is aiming to invest up to $500 million in the current fiscal year in the Philippines to support efforts to address climate change, financial inclusion and infrastructure development......»»
Roxas Holdings suspended for reporting failure
The PSE suspended Roxas Holdings for its continued failure to submit its Annual Report for its fiscal year ending Sept. 30, 2023......»»
PH Allocates Over P32 Billion to Boost Workforce
The Philippine government has allocated billions of funds to enhance employment and livelihood programs in the 2024 budget. The Department of Budget and Management (DBM) Secretary, Mina F. Pangandaman announced a substantial allocation of P32.720 billion under the Fiscal Year 2024 General Appropriations Act (GAA). The budget includes important initiatives spearheaded by the Department of […].....»»
Recto wants to expand free education
The government should make fiscal space available to expand free education in the country, according to Finance Secretary Ralph Recto, as he deviates yet again from his predecessor......»»
Figaro income up in 6 months
Improvement in volume from store expansion and opening boosted the earnings of Figaro Coffee Group Inc. (FCG) in the first half of its current fiscal year......»»
Recto sets sights on ‘more realistic’ targets
Nearly a month in office, the head of the government’s economic team is already looking at a review of growth and fiscal targets this year and over the medium term, noting that global developments should prompt for “more realistic” expectations......»»