Filipinos’ weaker demand for food and clothing in 2023 was “surprising,” according to the May 30 report of HSBC Global Research. NIKKEI ASIA / KIMBERLY DELA CRUZ PHOTO

‘Filipinos spending less on food and clothes, more on nonessential items’

FILIPINO consumers are now spending less on essential goods and services, and consuming more of nonessential items — a shift that’s not surprising at...
The Bureau of the Treasury says that of the national government's P15.017-trillion debt stock as of end-April 2024, domestic debt accounted for 68.64% or P10.308 trillion – a 0.30% increase from P10.277 trillion the month prior. BUREAU OF THE TREASURY PHOTO

PH debt soars to P15.017 trillion in April as peso depreciates

THE Philippines' sovereign debt climbed higher in April following the depreciation of the Philippine peso and the government's net financing during the period, data...
Photo courtesy of WIPO

PH adopts historic WIPO treaty

THE Intellectual Property Office of the Philippines (IPOPHL) on Wednesday, May 29, shared that the Philippines has joined 193 other member countries of the...
PHOTO COURTESY OF ABS-CBN NEWS

BIR urged to step up info drive on invoices replacing receipts

SENATE Ways and Means Committee chair Sherwin Gatchalian urged the Bureau of Internal Revenue (BIR) to clarify its rules on using invoices instead of...
If the proposed tariff reduction on imported rice would be approved, it could result in forgone revenues for the government amounting to billions of pesos. Currently, the tariff on imported rice stands at 40% for in-quota and 50% for out-quota. DANNY PATA PHOTO

Imported rice prices could go down if tariff reduction OK’d – DA exec

CONSUMERS may expect a significant price reduction on imported rice should the proposed tariff reduction push through, a Department of Agriculture (DA) official said. At...
The Bureau of Internal Revenue will affix tax stamps on vape products starting next week to ensure that unregulated products do not spread across the country. Photo shows a man vaping outside a restaurant in Mandaluyong. GIGIE CRUZ/ABS-CBN NEWS FILEPHOTO

New vape rules to take effect in June

THE Department of Trade and Industry (DTI) will require all vape products to be registered with the agency as the new Vape Law takes...
Photo courtesy of PCO

‘Start of new era’: PCSO GM Robles welcomes new Chairman Reyes 

NEWLY-MINTED Philippine Charity Sweepstakes Office (PCSO) Chairman Felix Reyes will see to it that the agency would reach out and provide much -needed medical...
Workers unload sacks of rice at a warehouse in Tondo, Manila in this undated photo. Finance Secretary Ralph Recto has proposed the further reduction of rice import tariff to further lower rice prices. PNA PHOTO BY YANCY LIM

Recto proposes lower rice import tariff

DEPARTMENT of Finance (DOF) Secretary Ralph Recto has proposed the temporary reduction of rice import tariffs to help bring down prices. In an interview with...
Positive consumer and business confidence plus stability in automotive finance boosted new motor vehicle sales in April this year. PHOTO COURTESY OF GMA NEWS

PH automotive sales hit 37,314 units in April

THE Philippine automotive industry saw a month-on-month decline in April but posted a double-digit increase from the same month last year, data released by...
Stall owners tend to their stalls as guests sample different Muslim delicacies at the Manila Halal Food Festival, held at the Bonifacio Shrine in Manila. JONATHAN CELLONA, ABS-CBN NEWS/FILE PHOTO

PH developing halal-friendly offerings in Boracay – DOT

THE Philippines is developing halal-friendly offerings in Boracay to lure in more Muslims tourists in one of the country’s top destinations, the Department of...