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THE state’s budget deficit in October plunged by more than one half on an annual basis to P34.4 billion as revenues expanded by a third, outpacing the growth of spending on an annual basis.
Manila will send an inspection mission to Brazil as the South American country is seeking system-wide accreditation that will allow its establishments to export animals, meat and meat products to the Philippines.
THE national government raised P100 billion from the sale of Treasury bonds (T-bonds) this month with the Bureau of Treasury (BTr) capping the last tender with a full award on the back of easing yields.
AGRICULTURE Secretary Francisco Tiu Laurel is pushing for the amendment and expansion of the Philippine Fisheries Development Authority’s (PFDA) charter to allow the state corporation to develop marine industrial estates nationwide to boost the country’s fish stocks.
INVESTORS’ asking yields for short-term Treasury bills (T-bills) sharply plunged to below market and policy benchmark rates, pinned by an analyst on declining global oil prices, easing inflation and overwhelming demand for the government securities.
THE Philippines has formally launched its maiden offering of benchmark-sized Islamic bonds or Sukuk bonds with a minimum target of raising $500 million.
The Philippines has slapped a temporary ban on poultry products from two states in the United States of America due to bird flu outbreaks.
The Department of Agriculture (DA) must “blacklist” rice importers who are not using their approved sanitary and phytosanitary import clearances (SPSICs), the Samahang Industriya ng Agrikultura (Sinag) said over the weekend.
AMPLE international reserves and foreign exchange inflows would prevent the Philippine peso from weakening to beyond P57 against the greenback in the medium term, according to the Department of Finance (DOF).
THE state-run Government Service Insurance System (GSIS) tapped the Japan International Cooperation Agency (Jica) to improve its general insurance policies to ensure better protection of public properties and assets against disasters.
SHORTENING the deadline for the arrival of rice imports could deter price manipulation in the market, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) said.
THE Department of Finance (DOF) urged local government units (LGUs) to tap available state financing for their climate-related projects and programs that contribute to government’s goal of establishing “livable” and “sustainable” communities.
THE Philippines’s rice imports is close to touching the 3 million metric tons (MMT) territory as the state approved the entry of over 1 MMT of foreign supply via private traders and importers in the coming months.
THE country’s rice stocks as of October dropped by nearly 2 percent year-on-year to a little above 2 million metric tons (MMT) as supplies held by households and National Food Authority (NFA) fell during the period.
THE Bureau of Internal Revenue (BIR) filed last Wednesday 15 criminal cases against buyers and sellers of “ghost receipts” with an estimated total tax liability of P1.8 billion.
THE demand for long-term government securities more than doubled to over P70 billion as investors’ asking yields for Treasury bonds (T-bonds) dropped on the back of easing inflation and pauses in monetary policy rates.
THE Department of Agriculture (DA) plans to expand the use of artificial insemination (AI) in livestock to 50 percent from the previous 30 percent target to domestic meat and dairy productivity.
THE Philippines could end the year with thin or deficit stocks in key commodities like pork, fish, corn and onion as overall supply falls short of the country’s total demand.
AGRICULTURE Secretary Francisco Tiu Laurel Jr. on Monday warned that he will cancel all the sanitary and phytosanitary import clearances (SPSICs) of rice importers if their approved import volume would not arrive in the country in the next 30 days.
THE excise tax share that tobacco-producing local government units (LGUs) would receive this year would be at P21 billion, about 10.52-percent higher than the P19 billion they received last year, according to the Department of Budget and Management (DBM).
THE national government on Monday borrowed P15 billion through its maiden offering of tokenized version of Treasury bonds (TTBs), 50-percent higher than its initial target, the Bureau of Treasury (BTr) announced Monday.
THE collection of the 1 percent withholding tax on online sellers improves transparency as it creates a “fair” and “accountable” digital business environment, an online tax-payment platform operator said.
LOCAL banana growers and exporters are urging the new agriculture secretary to prioritize the establishment of a fruit research center that would aid not just the banana industry but other high-value crops in combating pests as well as boosting productivity.
The national government is set to offer its first-ever tokenized bond next week as the Marcos Jr. administration seeks to raise at least P10 billion from the domestic market.
STATE-RUN Philippine Amusement and Gaming Corp. (Pagcor) said the total dividends it remitted to the national coffers for 2022 has reached nearly P7 billion, about 16 percent over than the amount it contributed for 2021.
THE Maharlika Invest-ment Corp. (MIC) plans to implement a rehabilitation and asset monetization scheme as part of its income generation measures, especially in the sectors of energy and agriculture, its president said.
STATE-run Social Security System (SSS) said it has tapped the Land Bank of the Philippines (LandBank) and Development Bank of the Philippines (DBP) as its local fund managers to boost its income in the next three years.
CASH remittances from Filipinos abroad in the nine months to September rose by 2.8 percent year-on-year to nearly $25 billion on the back of weaker peso-dollar exchange rates.
The Department of Agriculture (DA) has formed a technical working group (TWG) that would oversee improvements in the government’s implementing guidelines for preventing hoarding and the manipulation of prices of farm goods.
THE Maharlika Investment Corp. (MIC) is keen on investing in four identified sectors, including tourism infrastructure that involves airports, through various mechanisms like public-private partnerships, its newly-appointed President and CEO (PCEO) said.
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