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DBCC keeps growth, inflation rate outlooks

The inter-agency Development Budget Coordinating Committee (DBCC) has raised some of the government’s economic targets as a result of domestic and overseas development, Budget Secretary Benjamin Diokno said.

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TRAIN gives Duterte first legislative triumph

The signing into law of the first package of its Comprehensive Tax Reform Program (CTRP) or the Tax Reform for Acceleration and Inclusion Act (TRAIN) at the end of last year gave President Duterte his first major legislative victory.

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Infrastructure spending to keep Philippines humming—experts

Economists and economic managers are confident that with the spike in infrastructure spending, the economy will maintain its position as one of the fastest-growing economies in Asia with a sustained growth path over the next few years.

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People-centered Asean needed— Malaysian exec

Association of Southeast Asian Nations (ASEAN) members should focus not only on economic interests but also on the wider needs of their people as the region moves toward economic integration, Datuk Seri J. Jayasiri, secretary-general of Malaysia’s Ministry of International Trade and Industry, said.

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SBS acquires Coke facility for P520M

Listed chemical products distributor SBS Philippines Corp. has signed a deal with The Coca Cola Export Corp. (TCCEC) to acquire a 4.7-hectare warehouse facility in Calamba City in Laguna for P520 million.

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Inter-agency body to review penalized mining operations

The interagency Mining Industry Coordinating Council (MICC) will start this month its “fact-finding and science-based” review of an initial batch of 26 mine sites ordered either suspended or shut down last year by the previous leadership at the Department of Environment and Natural Resources (DENR), following the completion of the list of 25 experts who will undertake this reevaluation.

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Battle on coal, sin taxes marks Train OK

By Luis Leoncio Controversy hounded the Congress’ ratification of President Duterte’s revenue enhancement bill, the controversial Tax Reform for Acceleration and Inclusion (Train) as taxes on coal, mining, and tobacco were raised.

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Government bets on ecozone to spur Marawi rehab

By Riza Lozada The government is setting up a community-based economic zone in Marawi City to help speed up the recovery of the city which was devastated by five months of fierce battle between Islamic State (IS)-inspired militants and government forces.

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ADB ramps up growth forecast

In another vote of confidence on President Duterte’s economic program, the Asian Development Bank (ADB) scaled up its growth forecast on the Philippines to 6.7 percent this year and 6.8 next year from earlier estimates of 6.5 percent and 6.7 percent expansion previously, the ADB’s Asian Development Outlook Supplement (ADOS) showed.

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RCBC, Bangladesh swap raps on $81M cyberheist

Local Rizal Commercial Banking Corp. (RCBC) and top Bangladesh officials traded accusations over the almost two-year joust on the $81 million stolen from the Bangladesh Central Bank in a cyber heist of a Chinese group that operates from the Philippines.

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