Philippines to strengthen trade ties with US

 

By Rose de la Cruz

 

For all the criticism and harsh words that President Duterte had said against the United States, the Philippines is still determined to maintain strong trade ties with the US, which had been positive and favorable in recent years.

 

This, said Socioeconomic Planning Secretary Ernesto Pernia, would be the guidepost of the country in its relations with America considering the upbeat trade performance in 2017.

 

In his presentation to the U.S.-Philippines Society Board of Directors’ Meeting on Monday, Socioeconomic Planning Secretary Ernesto M. Pernia highlighted the intention of the Philippines to keep…

Read more: Philippines to strengthen trade ties with US

Businesses told to comply with TRAIN law

 

 

By Rose de la Cruz

 

Employers in private businesses should be able to iron out by March this year the transition kinks in implementing the TRAIN (Tax Reform for Acceleration and Inclusion) law’s exemption from income tax computations those being paid P250,000 a year.

 

Rep. Henry C. Ong, 2nd district of Leyte and vice chair of the committee on banks and financial intermediaries, said three months should be more than enough time to calibrat5e the payroll software most businesses use.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

One probable reason many private sector employers are unable to implement TRAIN is that they…

Read more: Businesses told to comply with TRAIN law

BSP to Adopt Minimum Liquidity Ratio for Smaller Banks and QBs

 

By Rose de la Cruz

 

 The Monetary Board has approved the adoption of minimum prudential liquidity requirements for thrift banks (TBs), rural banks (RBs), cooperative banks (CBs), and quasibanks (QBs), which are designed to enhance the covered BSP-supervised financial institutions’ resilience to liquidity stress events. With this new development, all banks and QBs will be subject to calibrated minimum prudential liquidity requirements.

 

The BSP first rolled out regulatory minima for universal banks (UBs) and commercial banks (KBs) through the implementation of the Liquidity Coverage Ratio (LCR)1 under Circular No. 905 dated 10 March 2016.

 

TBs, RBs,…

Read more: BSP to Adopt Minimum Liquidity Ratio for Smaller Banks and QBs

Foreign inflows in January hit $1.62 billion

 

By Rose de la Cruz

 

The Bangko Sentral ng Pilipinas reported that net foreign portfolio for January hit $1.62 billion, surpassing the $1.56 billion and $1.1 billion recorded the previous month and a year ago, respectively.

However, the $1.5 billion outflow for the month similarly reflected an increase compared to those recorded in December ($1.1 billion) and January of 2017 ($846 million).

Overall, transactions for the month yielded net inflows of $162 million attributable to investor optimism over the passage of the first phase of the government's tax reform program, positive news on…

Read more: Foreign inflows in January hit $1.62 billion



"The Bangko Sentral ng Pilipinas- Department of Economic Research projects January 2018 inflation to settle within the 3.5 - 4.0 percent range. The increase in the prices of domestic petroleum product on account of higher global crude oil prices along with higher food prices due to weather-related disturbances could contribute to the rise in inflation for January 2018. In addition, higher excise taxes on fuel, sugar sweetened beverages with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) this month, would lead to additional upward price pressures. The increase in prices could be partly offset by lower electricity rates in Meralco-serviced areas for the month."

Read more: BSP forecasts January 2018 inflation at 3.5-4%

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