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The Department of Finance (DOF) has presented its refined proposal on Package 4 of the Comprehensive Tax Reform Program (CTRP)—a measure recalibrated by Finance Secretary Ralph Recto during his first week in office—to the Senate Committee on Ways and Means on February 12, 2024.
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Total Foreign Investments (FI) approved in the fourth quarter of 2023 was recorded at PhP 394.45 billion, an increase of 127.2 percent from the PhP 173.61 billion total FI in the same quarter of 2022.
Finance Secretary Ralph G. Recto has urged Filipinos to invest in the Bureau of the Treasury (BTr)’s 30th tranche of Retail Treasury Bonds (RTB 30), which promotes cheap investment opportunities for small savers to secure their future.
The Bureau of the Treasury (BTr) launched the 30th offering of its Retail Treasury Bonds (RTB 30) with a tenor of five (5) years and a gross interest rate of 6.25% per annum with quarterly coupons payable until its maturity in 2029. The RTB 30 coupon was set with a spread of 11.46 basis points over secondary market rates, the lowest among the nine RTBs issued since 2019. A total of Php 212.7 billion was raised during the auction, more than seven times the initial target amount of Php 30.0 billion.
SEC PH: The First Philippine Financial Regulator Accredited by London-Based Investors in People2/12/2024 The Securities and Exchange Commission (SEC) has secured accreditation from London-based standard-setting organization Investors in People (IiP), in recognition of its high-level practices in promoting the welfare of its employees through engagement, communication, and organizational culture.
Department of Trade and Industry (DTI): $14 Billion in Investment Pledges are Now Being Actualized2/11/2024 Investment pledges from foreign firms during the presidential visits over the past 16 months are now being actualized substantively and tangibly, boosting the position of the Philippines as a premier investment destination for foreign businesses in Asia, according to the Department of Trade and Industry (DTI).
The Bangko Sentral ng Pilipinas (BSP) is bullish that the sustained rise of digital payment technologies will continue to facilitate the efficient delivery of financial services to the unbanked and micro-, small-, and medium-enterprises (MSMEs).
The Philippine Digital Asset Exchange, also known as PDAX, announced that their updated Send Crypto fees on GCrypto will start on February 7, 2024.
The Philippine Digital Asset Exchange, also known as PDAX, declared that beginning February 7, 2024, they will be revising their rates for cryptocurrency withdrawals.
The Philippines finished strong in 2023 with a full-year gross domestic product (GDP) growth rate of 5.6 percent, outpacing major economies in Asia, such as China (5.2 percent), Vietnam (5.0 percent), and Malaysia (3.8 percent) based on the latest available data.
OFW organizations are also backing Pag-IBIG Fund’s plan to increase members' monthly savings rate this year, agency officials announced.
According to the Insurance Commission, the net income of life and non-life insurance companies and mutual benefit associations (MBAs) increased by 9.38% year-on-year during the 3rd quarter of 2023.
According to the Insurance Commission, the total premiums collected under microinsurance policies as of the 3rd quarter of 2023 increased by 19.6% compared to the same period last year.
CIMB Bank rolls out its new time deposit with the highest interest rate in the market, up to 7.5% per annum, with terms ranging from 6 months to 24 months.
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