Finance Secretary Ralph Recto on Thursday emphasized that the newly signed double taxation agreement (DTA) between the Philippines and Cambodia will enhance the country’s tax system while attracting foreign investments. “By eliminating tax barriers and ensuring a fair and transparent framework, we are not only attracting greater foreign investments into the Philippines but also reinforcing our trade ties within the …
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The Department of Finance (DOF) is pushing for amendments to the Development Bank of the Philippines (DBP) charter to enhance its financial stability and reinforce its developmental mandate, Finance Secretary Ralph Recto said. “The DBP has a very clear mandate: to drive economic growth by supporting the medium and long-term needs of agricultural and industrial enterprises. Hence, the reforms in …
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The Bangko Sentral ng Pilipinas (BSP) decided to keep policy rates unchanged on Thursday, maintaining its cautious stance amid global economic uncertainties. This follows three consecutive rate cuts last year. Speaking at a briefing in Manila, BSP Governor Eli Remolona Jr. announced that the Monetary Board opted to retain the central bank’s target reverse repurchase rate at 5.75 percent. The …
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The share of non-performing loans (NPLs) in Philippine banks’ total loan portfolio fell to 3.27 percent in December 2024, marking its lowest level in a year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP). This was the lowest NPL ratio recorded since December 2023, when it stood at 3.24 percent. It also reflected an improvement from …
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The Government Service Insurance System (GSIS) marks a historic milestone as it launches the 20th GSIS National Art Competition on February 7, celebrating two decades of promoting Filipino artistic excellence and cultural heritage. “This milestone competition represents our enduring commitment to Philippine arts and culture,” GSIS President and General Manager Wick Veloso said. “Through this platform, we celebrate not just …
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UNICEF Philippines and BDO Foundation are partnering to expand educational opportunities for out-of-school children, youth, and adolescents in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) through the Alternative Learning System (ALS). The initiative, which is set to benefit vulnerable populations in Basilan, Tawi-Tawi, and Maguindanao, will offer a second chance for out-of-school children and youth to reintegrate into formal …
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Here’s good news to all elementary and high school students from public and private schools. The Philippine Postal Corporation (PHLPost) will hold the 54th Universal Postal Union (UPU) International Letter Writing Competition for students aged 9 to 15 years old. The winning piece will be sent by PHLPost as the Philippines’ official entry in the worldwide letter-writing competition to be …
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Basra Gateway Container Terminal (BGT), International Container Terminal Services, Inc.’s (ICTSI) operation at the Port of Umm Qasr, Iraq, has commissioned a new Konecranes Gottwald ESP.8 mobile harbor crane. With a 125-ton lifting capacity and a 54-meter boom, the crane can serve vessels up to post-Panamax class, further strengthening BGT’s operational capability. This latest acquisition is part of BGT’s continuing …
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ArenaPlus, the 24/7 sports entertainment gateway in the Philippines, inked another year of partnership with the country’s leading volleyball leagues, the Philippine Volleyball League and Spikers Turf, last February 6 at the Philsports Arena in Pasig City. In its second year, ArenaPlus has continued its support of the professional women’s and men’s volleyball leagues, delivering an exciting and entertaining volleyball experience for …
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Landers Superstore, the country’s fastest-growing membership shopping destination, made shopping even more rewarding as it awarded two lucky members with brand-new cars during the Shop & Win Raffle Grand Awarding Ceremony. The event, held on February 13, at Landers Arca South, marked a thrilling highlight of the brand’s 8th anniversary celebration. Ingrid Rose Panuncialman from Landers Alabang drove home the …
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