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Investment pledges by foreign investors in the Philippines fell 9.3 percent year-on-year in the last quarter of 2016, reversing a 45.6 percent increase in the corresponding 2015 period, official data showed on Friday. Data released by the Philippine Statistics Authority (PSA) showed that foreign investments approved by the seven government…

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Philippine shares are likely to register gains this year on the back of a strong domestic economy shielding it from global uncertainties. BPI Trade Chief Executive Officer Mike Oyson expects the benchmark PSEi to retest the 8,000 level this year, especially if the tax reform package of the Duterte administration…

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The Philippine Stock Exchange index (PSEi) retreated 1.04 percent on Friday as investors took the chance to sell and avoid “risks” before the Trump administration officially issues any policy, especially on tax reforms. The benchmark PSEi cut its four-day gain on, dropping 76.57 points or 1.04 percent to close at…

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The Bureau of Customs (BoC) is fully supporting amendments to the excise tax on automobiles, the bureau said in a statement on Friday. House Bill 4774, filed by Representative Dakila Carlo, seeks to amend certain provision of the National Internal Revenue Code of 1997: For vehicles worth P600,000 or below:…

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The Department of Finance (DoF) said it gained support from various groups for a proposal under its Comprehensive Tax Reform Program (CTRP) granting a one-time amnesty and lower estate tax payments. In a statement on Friday, the DoF said the legislative proposal entails a one-time amnesty on estate tax payments…

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The Energy Department said it will implement Retail Competition and Open Access (RCOA), a key provision of Republic Act 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA) even as the Supreme Court (SC) issued a temporary restraining order (TRO) on February 21. The SC granted the petition…

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PREMIUM Leisure Corp. (PLC), the gaming vehicle of tycoon Henry Sy, saw its net income expand five times in 2016 on higher gaming revenue streams from City of Dreams Manila and the full-year consolidation of its lottery systems technology unit. In a disclosure to the Philippine Stock Exchange on Friday,…

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THE Philippine Stock Exchange Inc. (PSE) said its net income in 2016 inched up by just 3 percent to P701.54 million from P682.8 million in the previous year as trading income was muted by the volatile markets. In a statement, the PSE said operating revenues rose 4 percent to P1.26…

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AYALA Land Inc. (ALI) is targeting to be carbon neutral by 2022 by adhering to an aggressive roadmap that seeks to reduce the greenhouse gas (GHG) emissions of its commercial properties. To achieve “carbon neutrality” by 2022, ALI will incorporate a combination of initiatives in its projects. These include passive…

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