FORMER SENATOR RALPH G. RECTO — SENATE PRIB By Kyle Aristophere T. Atienza, Reporter FORMER Senator Ralph G. Recto, who pushed higher value-added taxes (VAT) in the Senate in the early 2000s, has been appointed Finance secretary, according to Senate President Juan Miguel F. Zubiri. Mr. Recto, who was elected […]
PHL projected to grow 6% this year
Shoppers are seen in Divisoria, Manila. — PHILIPPINE STAR/WALTER BOLLOZOS THE PHILIPPINES’ gross domestic product (GDP) is projected to grow faster this year as easing inflation will help boost “revenge spending,” analysts said. First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said they expect […]
BSP likely to deliver 150 bps in rate cuts through Q1 2025
The main office of the Bangko Sentral ng Pilipinas in Manila. — BW FILE PHOTO THE BANGKO SENTRAL ng Pilipinas (BSP) will likely cut borrowing costs by 150 basis points (bps) starting the third quarter of this year until the first quarter of 2025, according to Nomura Global Markets Research. […]
Withholding tax on online sellers seen to address revenue leakages
BW FILE PHOTO By Luisa Maria Jacinta C. Jocson, Reporter THE GOVERNMENT should ensure that it will be able to properly implement and monitor the collection of withholding tax on online sellers. The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) No. 16, which imposes a withholding tax […]
50th MMFF to build on success of 2023 edition
WITH the 49th Metro Manila Film Festival (MMFF) officially becoming the highest-grossing edition of all time, the Metro Manila Development Authority (MMDA), which runs the festival, is looking to sustain the momentum of the festival’s success. MMDA chairman Don Artes said in a statement posted online that combined gross receipts […]
Barbie, Oppenheimer lead SAG nominations on road to Oscars
SAG-AFTRA LOS ANGELES — Box office hits Barbie and Oppenheimer landed four nominations each for Hollywood’s Screen Actors Guild (SAG) awards on Wednesday, setting up a new battle between the blockbuster films ahead of the Academy Awards. The movies that squared off in a showdown dubbed “Barbenheimer”last summer will vie […]
NAIA operator forecasts P14.8-B revenue, 15% passenger rise this year
PHILIPPINE STAR/AJ BOLANDO THE Manila International Airport Authority (MIAA) said it expects revenues to rise by 18% to P14.82 billion this year, with the volume of arriving and departing passengers expected to increase by 15% to more than 48 million. MIAA, operator of Ninoy Aquino International Airport, is also allocating […]
Angela Bassett, Mel Brooks accept honorary Oscars at Hollywood gala
—WIKIMEDIA COMMONS LOS ANGELES — Actress Angela Bassett was celebrated for a lifetime of memorable roles, from Tina Turner to the queen of Wakanda, as Hollywood’s film academy handed out honorary Oscars on Tuesday. Comedian Mel Brooks also received a golden statuette at the annual Governors Awards in front of […]
ICTSI submits bid for management of Iloilo Commercial Port Complex
ICTSI.COM RAZON-LED International Container Terminal Services, Inc. (ICTSI) said it had submitted a bid to maintain and manage the Iloilo Commercial Port Complex (ICPC). “Yes, we submitted,” said the company’s media relations head in a phone message to BusinessWorld on Thursday. The 25-year concession agreement, as per the Philippine Ports Authority’s (PPA) […]
SM: Still plenty of room for growth in 2024
The groundswell of watchful optimism persists in 2024, and one of the country’s leading conglomerates maintains that there is still room for growth. SM Investments Corporation says the Philippines has been consistently positive in terms of consumer growth. “If you look back at the historical performance of the Philippine economy, […]