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Government borrowings down by 12 percent to P830 billion in Q1
The government slashed its borrowings by 12 percent to P830 billion in the first quarter, particularly its obligations to the foreign market, according to the Bureau of the Treasury......»»
Global Failures on Healthcare Funding
(Washington) - New data from the World Health Organization (WHO) shows that many governments around the world did not meet public healthcare spending benchmarks amid the Covid-19 pandemic, Human Rights Watch said today. The new information indicates possible violations of countries' obligations to the human right to health.WHO's Global Health Expenditure Database.....»»
Jollibee eyes P8 billion share sale this year
Asian food conglomerate Jollibee Foods Corp. plans to push through this year with its P8-billion fundraising through the issuance of preferred shares, proceeds of which will be used to refinance financial obligations and support expansion in the coming years......»»
Jollibee eyes P8 billion share sale this year
Asian food conglomerate Jollibee Foods Corp. plans to push through this year with its P8-billion fundraising through the issuance of preferred shares, proceeds of which will be used to refinance financial obligations and support expansion in the coming years......»»
BIR attempts ‘friendly’ tack
February is not just the love month, it also marks the start of a yearlong campaign for the Bureau of Internal Revenue (BIR) to encourage the public to pay their tax obligations. After all, collecting P3.05 trillion is no easy task......»»
BOP shortfall narrows to $196 million in February
The Philippines registered a balance of payments shortfall of $196 million in February, its second straight month of deficit, as the government settled more foreign debt obligations last month, the Bangko Sentral ng Pilipinas said......»»
Government debt payments rise to record P1.6 trillion
The country’s debt service registered a record P1.6 trillion last year, exceeding the program, as the government aggressively moved to cut mounting obligations......»»
COBI urges water district to comply with contractual obligations
Cagayan de Oro Bulk Water Inc. has emphasized the importance of having a cooperative partnership with the Cagayan de Oro City Water District......»»
Gov’t debt stock rose to P14.79 trillion as of Jan
MANILA, Philippines — The government’s outstanding debt rose in January due to a weak peso and after the Marcos administration borrowed more from local creditors than what it paid for its maturing liabilities, the Bureau of the Treasury (BTr) reported Friday. Data showed state obligations increased 1.9 percent month-on-month to P14.79 trillion as of January. ALSO READ:.....»»
ALI to raise P50 billion in debt capital
Property giant Ayala Land Inc. is raising up to P50 billion in debt capital this year to refinance maturing obligations and partially fund general corporate requirements......»»
BOP swings to deficit in January
The country’s balance of payments swung to a deficit of $740 million in January, the highest in almost a year, as the government paid its foreign currency debt obligations......»»
BPI eyes return to debt markets in 1st half
Bank of the Philippine Islands is looking to tap the local and foreign debt markets within the first half of the year to raise funds to refinance its maturing obligations and beef up its lending portfolio......»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
BIR ramps up tax compliance drive
The Bureau of Internal Revenue has initiated a nationwide tax compliance drive to boost awareness and encourage taxpayers to pay their obligations......»»
Debt payments decline to P294 billion in February
The Marcos administration reduced its debt service to P294 billion in February amid the decline in the payment for the loan principal borrowed by the government......»»
EastWest ramping up credit business
Gotianun-led East West Banking Corp. is strengthening its credit business for possible upticks in loan demand later this year, its top officia.....»»
New Mandaue city hall gets P3 billion financing
State-run Development Bank of the Philippines has extended a P3-billion loan financing to the local government of Mandaue in Cebu for the construction of a center that would boost delivery of services......»»
Loans to agriculture sector ‘quadrupled’ in 2023
The banking sector’s loan disbursements to the agriculture sector quadrupled last year after the government widened the number of projects considered as compliant with the 25 percent requirement, a member of the central bank’s Monetary Board said......»»
Digital banks post significant deposit, loan growth in 2023
The digital banking sector has recorded a significant growth in total deposits and loans in 2023 compared to a year ago, as consumers looked for more accessible and user-friendly financial services......»»
Banks’ bad loans rise in February
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan ratio to a steady 3.44 percent, amid high interest rates......»»