Maharlika Investment Corp. president and chief executive officer Rafael Consing Jr. says the Maharlika Investment Fund is likely to make its first investment on renewable energy this year. GMANETWORK.COM PHOTO

Maharlika Investment Corp. to make first investment by end of 2024

Business Panay News -
THE Philippines’ sovereign wealth is set to make its first investment by the end of the year, likely to be in the renewable energy...
The Philippines gross national income in 2022 fell within the World Bank's bracket for lower-middle income economies. Photo shows vehicles traversing at a public market in Divisoria, Manila. MARK CRISTINO, EPA-EFE/FILE PHOTO

Philippines posts $740 million deficit in January

Business Panay News -
THE Philippines booked a balance of payments (BOP) deficit of $740 million in January 2024, the Bangko Sentral ng Pilipinas (BSP) said yesterday. This was...
The Ease of Paying Taxes Law has started simplifying taxation for micro, small and medium enterprises in the Philippines, but this can still be improved, says a tax expert. AJ PALCULLO/PN

Tax expert wants simplified tax regimes for MSMEs

Business Panay News -
A TAX EXPERT said it is a good idea for the government to simplify tax regimes for micro, small and medium enterprises (MSMEs). Speaking on...
Bureau of Internal Revenue commissioner Romeo Lumagui Jr. BIR PHOTO

Cross-border tax policy implemented on ‘case-to-case’ basis – BIR

Business Panay News -
THE Bureau of Internal Revenue (BIR) clarified that its taxation policy on cross-border services would be implemented on a case-to-case basis. Commissioner Romeo Lumagui Jr....
The Bangko Sentral ng Pilipinas says about 92 percent of consumers think that in the next 12 months, inflation will be above 4 percent. PHOTO COURTESY OF ABS-CBN NEWS

BSP to further ease portfolio investment requirements

Business Panay News -
THE Bangko Sentral ng Pilipinas (BSP) is working to lift the requirement of the Bangko Sentral Registration Document (BSRD) for foreign portfolio investments, a...
The Federation of Free Farmers Cooperatives says price decrease in rice will likely be minimal due to possible lower production brought by the El Niño phenomenon. AJ PALCULLO/PN

Rice prices expected to go down due to harvest season – group

Business Panay News -
RETAIL prices of rice are expected to decrease in light of the harvest season this month, a farmers' group said Saturday. The Federation of Free...
Oil companies will increase prices per liter of gasoline by P1.60, diesel by P1.10, and kerosene by P1.05. INQUIRER PHOTO / NINO JESUS ORBETA PHOTO

Fuel pump prices up by over P1/liter

Business Panay News -
PUMP prices will be hiked once again this week, as fuel retailers yesterday announced a major increase following the slight rollback implemented last week. In...
Passengers flying from Manila to Iloilo, Bacolod, Tacloban, and Puerto Princesa will be paying a fuel surcharge of P388 beginning next month. PEARL SOCIAS PHOTO

Plane tickets to become pricier in March

Business Panay News -
PASSENGERS are set to pay more for their plane tickets next month with the imminent increase in the fuel surcharge. In a recent advisory, the...
The Senate approved Senate Bill No. 2534, which calls for a P100 increase in the daily minimum wage of workers in the private sector, on the third and final reading on Monday, Feb. 19, 2024. INQUIRER.NET FILE PHOTO

Senate approves P100 daily wage hike bill

Business Panay News -
THE landmark bill proposing a P100 increase in the daily minimum wage of workers in the private sector got a step closer to becoming...
Revenue Regulation No. 16 of the Bureau of Internal Revenue imposes a 1-percent creditable withholding tax on one-half of the gross remittances made by online shopping apps, food delivery apps, online hotel booking sites, transport service apps, and e-wallet platforms. WWW.SUPERMARKETNEWS.COM PHOTO

BIR not keen on deferring 1 percent withholding tax on online merchants

Business Panay News -
THE Bureau of Internal Revenue (BIR) is sticking to the 90-day transitory period it gave e-marketplace operators and digital service providers to comply with...
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