Tag: bworldonline
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House to start budget deliberations next week
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THE HOUSE of Representatives will start hearings on the proposed P6.352-trillion national budget for 2025 next week so it can meet its self-imposed September deadline for third reading approval, a lawmaker said on Tuesday. The House seeks to send a copy of the approved budget bill to the Senate by…
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Fridays Puerto Galera announces plans to upgrade resort facilities
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The multimillion expansion project is set to redefine the experience of guests by merging modern conveniences set within a stunning natural backdrop Fridays Puerto Galera, a leading luxury resort found inside the lagoons of the UNESCO-protected Muelle Bay in Boquete Island, Mindoro, is gearing up to unveil a multi-million expansion…
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NG debt to rise to P17.35-T in 2025
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THE NATIONAL GOVERNMENT’S (NG) outstanding debt is projected to hit a record P17.35 trillion at the end of 2025, the Department of Budget and Management (DBM) said. The 2025 Budget of Expenditures and Sources of Financing showed the NG’s debt stock is expected to increase by 8.08% from the projected…
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DBM submits P6.352-T national budget to House
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THE DEPARTMENT of Budget and Management (DBM) on Monday submitted to the House of Representatives its proposed P6.352-trillion national budget for 2025, which increases allocations for education by less than 1% and for defense by 6.4%, while more than doubling the budget for transportation.
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Senate ratifies bicam report on 12% VAT on foreign digital service providers
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THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao. The reconciled version of the bill reinforces the Bureau of Internal Revenue’s…
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Philippines ranks 4th in Southeast Asia for IPO proceeds in first half
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THE PHILIPPINE STOCK Exchange (PSE) ranked fourth in Southeast Asia for proceeds generated from initial public offerings (IPOs) in the first half of the year, according to a report by multinational professional services network Deloitte. “Despite only having two new listings during the first half of 2024, the Philippines’ capital…
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High rates seen to weigh on growth
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METROPOLITAN Bank & Trust Co. (Metrobank) Research trimmed its gross domestic product (GDP) forecast for the Philippines this year as elevated interest rates continue to crimp domestic demand.
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PHL to resume sugar exports to US
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THE PHILIPPINES will resume exports of raw sugar to the United States amid an increase in domestic production this year, the Sugar Regulatory Administration (SRA) said in an order.
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Banks maintain lending standards in 2nd quarter
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PHILIPPINE BANKS continued to maintain tighter credit standards in the second quarter, a Bangko Sentral ng Pilipinas (BSP) survey showed. The BSP’s latest Senior Bank Loan Officers’ Survey (SLOS) published late on Friday showed most respondent banks maintained their lending standards for both enterprises and households, based on the modal…