BIR: Over 6,000 applications received for micro taxpayers abatement program

MANILA, Philippines — The Philippine economy is unlikely to mount a meaningful recovery in the third quarter amid renewed scrutiny of the flood control corruption scandal, prompting BMI Research to slash its full-year growth outlook anew to just 3.3 percent. In a note to clients, BMI, a unit of Fitch Solutions, said it cut its

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) saw its profits breach P100 billion in the January to April period, as a sharp decline in expenses more than offset a drop in revenue. The BSP’s net income nearly doubled from the same period last year to P100.9 billion, according to data posted on the central

MANILA, Philippines — Young Filipinos are among the strongest believers in entrepreneurship in the Asia-Pacific region, with more than nine in 10 saying an “entrepreneurial mindset” could help them thrive in any occupation, a new study found. The Philippines posted a 94-percent agreement rate, among the highest in the region alongside Indonesia and Malaysia and

MANILA, Philippines — The Philippines will make a push for some of the world’s biggest technology companies to locate within the planned Pax Silica hub in New Clark City, where development work could begin as early as 2027. Among those on the government’s “wish list” are Apple, Nvidia, Taiwan Semiconductor Manufacturing Co., MediaTek, United Microelectronics Corp.,

MANILA, Philippines — The US government’s international investment arm has expressed interest in funding the construction of a second runway at Clark International Airport, according to state-run Bases Conversion and Development Authority (BCDA). BCDA President and CEO Joshua Bingcang said the US International Development Finance Corp. had already reached out regarding the project, which is targeted

MANILA, Philippines — The loan portfolio of the Social Security System (SSS) reached P170 billion as of September on steady demand across its regular and newer programs, including the recently launched microloan facility. At a press briefing, officials said the loan portfolio had expanded by about 5 percent from a year earlier, with SSS President and

MANILA, Philippines — The Philippines has sent another commercial shipment of fresh Carabao mangoes to Canada, this time targeting Vancouver as the government seeks to turn its recent entry into the Canadian market into a more sustained export opportunity. In a statement on Monday, the Department of Agriculture (DA) said that 1 metric ton of mangoes,

MANILA, Philippines — Booming aviation and logistics investments drove a sixfold surge in approved investments under the Bases Conversion and Development Authority (BCDA), the state-run corporation in charge of transforming former military bases into economic centers. In a statement on Monday, the BCDA said it had approved P49.96-billion investments during the January-to-June period, marking a 535

MANILA, Philippines — Mitsubishi Corp. is investing about P44.5 billion to substantially increase its stake in Ayala Corp., deepening a partnership that has spanned more than five decades. On Monday, the Philippines’ oldest conglomerate said it had signed a definitive agreement with the Japanese giant. It covers a combination of primary and secondary shares, including a

MANILA, Philippines — ACEN Corp., the listed energy arm of the Ayala Group, has moved to abandon two service contracts involving solar power projects in Quezon province and Zambales amid land issues. In a regulatory filing on Monday, the renewable energy producer said its subsidiaries have surrendered Solar Energy Operating Contracts No. 2024-08-938 and No. 2021-05-582.

Purpose-built student accommodation is drawing mainland Chinese university students away from Hong Kong’s traditional rental market, as professionally managed residences gain favour despite charging higher rents than many private flats. Some students said dedicated student housing offered greater convenience, stronger security, more predictable costs and a better living environment, helping offset higher rents and, in some cases, longer commutes. Qi Zhonghao, a mainland Chinese student pursuing...

In China’s hardware hub in Shenzhen, the speculative frenzy around consumer multilayer ceramic capacitors (MLCCs) has cooled into a sharp price correction, but prices for artificial intelligence server components remain elevated. Spot prices for consumer-grade MLCCs, often dubbed the “the rice of the electronics industry”, have fallen by two-thirds from their peak two months ago, according to Wang Jun, an MLCC distributor in Huaqiangbei, a commercial zone in the city known for electronic...