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By Luis Leoncio As 2016 closes, Bangko Sentral ng Pilipinas (BSP) Gov. Amando M. Tetangco Jr. has listed the three “tail risks” to the economy, none of which involves concerns over President Duterte’s statements that his critics said were to blame for the recent weakening of the peso and the local bourse.

It worked.

Local firms are asking the government to simplify the method for tax refunds and to revoke a circular issued by former Internal Revenue Commissioner Kim Henares that made it cumbersome to appeal a denial by the Bureau of Internal Revenue (BIR) of an application for refunds.

The failure of government agencies to recover bulk of the $81 million stolen from Bangladesh Bank (BB) in an online heist that was laundered in the country has resulted in a legal tangle between the Bangladesh government and the Yuchengco group’s Rizal Commercial Banking Corp (RCBC).

By Luis Leoncio The mall culture among Filipinos continues to thrive, as listed property giant SM Prime Holdings Inc. (SM Prime) opened last Friday its 60th mall in the country called SM City East Ortigas.

State-owned lottery firm Philippine Charity Sweepstakes Office (PCSO) will introduce a new and improved small town lottery (STL) scheme as part of the government’s campaign against illegal gambling.

Singapore-headquartered investment bank DBS expects a strong expansion in the Philippine economy to be sustained in the coming years as it continues to see major contribution of investments.

The Philippine Amusement and Gaming Corporation (Pagcor) has allocated P22.4 million for its traditional Pamaskong Handog this year to benefit some 13,000 people in a 13-day gift-giving activity from December 6 to 21.

By Luis Leoncio Despite the rise in public spending due to the costly infrastructure buildup of the Duterte administration, the share of debt to the country’s economy slid further as of September this year.

The United Kingdom (UK) plans to hold another business mission in the Philippines in the first quarter of next year, said British Chamber of Commerce of the Philippines (BCCP) chairman Chris Nelson.