Tag: bworldonline
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Illegal tobacco trade eating government revenues away — BIR
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THE Philippine government lost P25.5 billion in taxes from tobacco smuggling last year, according to the Bureau of Internal Revenue (BIR), as it sought to intensify its enforcement of tax compliance on the tobacco industry.
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GDP growth may fall below target in 2024, 2025 — BSP
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PHILIPPINE economic growth may fall below the government’s target this year and in 2025, as high interest rates dampen domestic demand, the Bangko Sentral ng Pilipinas (BSP) said. “The outlook on domestic economic activity remains intact, even as the economy is projected to operate slightly below potential. Economic growth could…
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Recto backs lower tariffs on rice
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FINANCE Secretary Ralph G. Recto said he is open to reducing tariffs on rice imports in order to help bring down prices of the food staple.
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Semiconductors, renewables to drive PHL growth — Go
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THE PHILIPPINE government is banking on the semiconductor and renewable energy (RE) sectors to drive economic growth, according to the Palace’s chief investment adviser.
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BSP to maintain ‘restrictive’ policy
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THE Bangko Sentral ng Pilipinas (BSP) will keep monetary policy settings “restrictive” as upside risks to inflation remain.
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DBCC won’t revise target ‘for now,’ says Balisacan
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THE Development Budget Coordination Committee (DBCC) is not planning to revise next year’s growth target “for now,” National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said.
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Energy dep’t warns Luzon grid may experience red alerts until next week
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THE LUZON GRID could face red alerts until next week if the power plants that experienced forced outage or derated capacities fail to resume operations, the Department of Energy (DoE) said on Monday.
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Central bank to cut rates by up to 150 bps — survey
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THE Bangko Sentral ng Pilipinas (BSP) could reduce rates by up to 150 basis points (bps) this year, its survey of private sector analysts showed, as inflation is likely to fall within the 2-4% target range. In the Monetary Policy Report for May 2024, the results of the BSP’s survey…
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Meralco eyes bids for 500MW of RE capacity
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MANILA Electric Co. (Meralco) on Monday said it has started seeking bids for 500 megawatts (MW) of renewable energy (RE) capacity to comply with a state requirement. In a statement on Monday, the power distributor said the competitive selection process is pursuant to the Energy department’s policy on renewable portfolio…
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Web attacks on PHL companies more than triple
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ONLINE attacks targeting Philippine companies more than tripled last year from 2022, Kaspersky said on Monday, highlighting the urgency of boosting cyber defenses against web threats that can reverse the benefits of digitalization. In a statement, the global cybersecurity company said the number of web threats on local companies jumped…