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MANILA, Philippines — The COVID-19 pandemic will take its toll on economies across East Asia and the Pacific, and the Philippines was no exception given its reliance on tourism and trade, the World Bank said in a…
TOKYO — A deepening health crisis became an economic one, too, Friday, with the virus outbreak sapping financial markets, emptying shops and businesses, and putting major sites and events off-limits. As the list of countries hit by…
People buying protective masks at a medical supplies store in Manila on January 31, 2020. Photo by Ted ALJIBE / AFP Inflation was up to an eight-month high of 2.9 percent last January but the government said…
The country’s chief economist on Thursday said the economy likely grew at a faster pace in the fourth quarter of last year and that the downscaled growth target of 6-6.5 percent for 2019 was achieved. Socioeconomic Planning…
CEBU CITY, Philippines—While Philippine Offshore Gaming Operators (Pogo) serve as a major market for the real estate industry, former finance secretary Roberto De Ocampo said that the government should be cautious in allowing more of these firms…
MANILA, Philippines – Homegrown fast-food giant Jollibee Foods Corporation (JFC) has bagged its biggest multinational acquisition to date with a US$350-million deal to take over American specialty coffee and tea brand The Coffee Bean & Tea Leaf…
MANILA, Philippines – The government will come up with a single interagency database containing the names and information of all foreign workers in the country in a bid to collect all the personal income taxes due from…
The government has harmonized the taxes and other fees that self-employed professionals such as doctors, accountants and lawyers pay to local government units to cut red tape. In a statement, the Department of Finance said Local Finance…
CEBU CITY, Philippines —Local governments in Cebu and other areas in the Visayas should be proactive in identifying projects for possible funding by the Asian Development Bank (ADB). Kelly Bird, ADB country director for the Philippines, said…
MANILA, Philippines — Inflation further slowed to 3.8 percent year-on-year in February, the slowest rate of increase in prices of basic goods in a year. Headline inflation returned within the government’s full-year target range of 2-4 percent…
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