Economy / Banking

DOF OKs inclusion of COVID-19 vaccine imports in express lane for tax processing

Robie de Guzman   •   February 26, 2021

MANILA, Philippines – All importations of COVID-19 vaccines will now be included in the “Mabuhay” or express lane of the Department of Finance to allow quick processing of the tax...

Tourism dept. backs DILG move to streamline travel requirements

Robie de Guzman   •   February 23, 2021

MANILA, Philippines – The Department of Tourism (DOT) has expressed its support for the move of the Department of the Interior and Local Government (DILG) to streamline the travel procedures...

P13-M worth of smuggled cigarettes, medicines seized in Parañaque ops – BOC

Robie de Guzman   •   February 22, 2021

MANILA, Philippines – The Bureau of Customs (BOC) reported it has apprehended smuggled cigarettes and medicines worth P13 million in a series of operations recently launched in Parañaque City. The...

MRT-7 project opening eyed in 2022 – SMC

Robie de Guzman   •   February 19, 2021

MANILA, Philippines – San Miguel Corporation (SMC) is looking to open the Metro Rail Transit Line 7 (MRT-7) in December 2022, the company’s president, Ramon S. Ang said as he...

P1.2-B allocated for study of 82 big-ticket projects – DPWH

Robie de Guzman   •   February 17, 2021

MANILA, Philippines – A total of 82 projects are currently under feasibility studies, preliminary, detailed engineering design, economic analysis, technical studies, and traffic impact assessment, the Department of Public Works...

Duterte signs FIST bill into law – Palace

Robie de Guzman   •   February 17, 2021

MANILA, Philippines – President Rodrigo Duterte has signed Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) bill, which seeks to allow banks to dispose of bad loans...

PH policy limiting advance payments to 15% may hamper COVID-19 vaccine procurement – DBM chief

Robie de Guzman   •   February 12, 2021

MANILA, Philippines – Department of Budget and Management (DBM) Secretary Wendel Avisado on Friday raised the need to increase the 15-percent limitation on advance payments on the contract amount for...

DTI’s SB Corp. approves over 20,000 loans for small businesses

Robie de Guzman   •   February 12, 2021

MANILA, Philippines – A total of 21,695 loan applications under the Bayanihan COVID-19 Assistance to Restart Enterprises (CARES) program for small enterprises have been approved by the Small Business Corporation...

IATF allows arcades, cinemas and other businesses to reopen in GCQ areas – Palace

Robie de Guzman   •   February 12, 2021

MANILA, Philippines – The government’s task force for COVID-19 response has allowed the reopening of more businesses in areas under general community quarantine (GCQ), Malacañang announced Friday. Presidential Spokesperson Harry...

Speaker Velasco files P420-B Bayanihan 3 bill

Freema Gloria   •   February 8, 2021

MANILA, Philippines — House Speaker Allan Velasco has filed a bill proposing a P420-billion fund to further help stimulate the country’s economic recovery from the COVID-19 pandemic. In a press...

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