finance - updates

Rappler's latest stories on finance

ARTICLE FINDER

Lack of tenure, proper gear take toll on Mindoro's tamaraw rangers

May 01, 2019 - 8:48 PM

(UPDATED) These rangers have devoted their lives to protecting the tamaraws despite lack of tenure, lack of proper tools and gear, and the dangers that come with the job

PROTECTION. Tamaraws are not only endemic in the Philippines but also critically endangered. Photo from D'Aboville Foundation

How much do you need to become senator?

May 01, 2019 - 8:19 PM

On average, senatorial candidates each spend around P107 million for their campaigns

Crowdfunding can level candidates' campaign spending – election lawyer

Apr 14, 2019 - 9:50 PM

But election lawyer Emil Marañon III says crowdfunding initiatives aren't easily doable under the Philippines' election laws

Ex-DOF officials face up to 70 years in jail over tax credit fraud

Apr 14, 2019 - 5:15 PM

The Sandiganbayan finds former Department of Finance officials guilty of graft for issuing fraudulent tax credit certificates in 1997 and 1998

GRADED. The DOF ranks analysts according to how their projections fared with actual figures. Logo from DOF website

[ANALYSIS] We never defaulted on our loans? That’s historical revisionism

Apr 11, 2019 - 6:17 PM

By saying the country 'never, never defaulted on its loans,' the DOF is being naïve at best and disingenuous at worst

Fearing default on China loans? You have 'no faith' in PH – Dominguez

Apr 02, 2019 - 4:05 PM

'The Philippines has no history of defaulting on its loans. So why are people saying now that we will default? They have no faith in the Philippines?' says Finance Secretary Carlos Dominguez III

Loan default? DOF says Reed Bank gas can be sold to raise funds

Mar 27, 2019 - 9:10 PM

Finance Undersecretary Bayani Agabin says that in the 'unlikely' event of a loan default, China cannot claim Reed Bank. Instead, the Philippines can sell gas and use the cash to pay Beijing.

Made in China: Loan terms with waivers, shrouded in secrecy

Mar 27, 2019 - 7:35 PM

Rappler reviews loan documents for the Philippines' infrastructure projects and finds that China is demanding more than others and wants deals kept opaque

Reed Bank not collateral to China loan? Carpio rebuts Duterte gov't

Mar 27, 2019 - 10:20 AM

Senior Associate Justice Antonio Carpio counters the claims of government officials who sought to downplay his warning against the repercussions of a government loan from China

LEGAL VIEWS. Presidential Spokesperson Salvador Panelo (left) and Senior Associate Justice Antonio Carpio have clashing views on a provision in the Chico River project loan agreement. Carpio photo from Senate PRIB

What are patrimonial assets? Lambino rejects China debt trap fears

Mar 26, 2019 - 1:15 PM

Finance Assistant Secretary Antonio Lambino implies that the Philippines would not lose the gas-rich Reed Bank, as it is not considered a patrimonial asset

In defense of the credit card

Mar 25, 2019 - 11:03 AM

Credit cards aren’t as bad as you think. Three young professionals tell us why

Finance department zeroes in on foreign online gambling workers

Mar 04, 2019 - 6:15 PM

Finance Secretary Carlos Dominguez III says it is important to find out where foreign online gambling workers are located, given the 'national security implications' and their large presence here

Top poll ad spender? Alejano says he spent less than '3%' of PCIJ estimate

Feb 16, 2019 - 5:36 PM

'I cannot imagine myself having that amount,' says Magdalo Representative Gary Alejano, who has been named by the PCIJ as the top 10 ad spender so far for the 2019 polls

TOP SPENDER? Magdalo Representative Gary Alejano at the Philippine Military Academy alumni homecoming 2019 in Baguio City. Photo by Jeff Digma/Rappler

DOF ranks accuracy of analysts' GDP forecasts

Feb 15, 2019 - 6:11 PM

(UPDATED) After ranking economists and analysts according to the accuracy of their inflation forecasts, the DOF looks into their GDP projections

Political ads of top spenders worth more than their declared wealth

Feb 13, 2019 - 7:17 PM

Former special assistant to the President Bong Go spends a whopping P422 million for his senatorial bid. The mystery? His net worth as of 2017 is only P12.85 million.

DOF urges lawmakers to speed up alcohol excise tax hike

Feb 06, 2019 - 7:55 PM

While both tobacco and alcohol saw excise tax hikes back in 2012, the Department of Finance says alcohol lags behind in revenue contribution

Senator Sonny Angara, chair of the Committee on Ways & means, together with Senator Manny Pacquiao, listen to resource persons during the public hearing on the proposed measure increasing the excise tax rates on alcohol products. Photo by Cesar Tomambo/PRIB  Senator Sonny Angara, chair of the Committee on Ways & means, together with Senator Manny Pacquiao, listen to resource persons during the public hearing on the proposed measure increasing the excise tax rates on alcohol products. Photo by Cesar Tomambo/PRIB

U.S. to seek Huawei exec's extradition from Canada

Jan 23, 2019 - 10:42 AM

Meng Wanzhou, the daughter of Huawei's founder, is free on a $7.5 million bail and is awaiting a hearing on her extradition

This TV image provided by CTV to AFP shows Huawei Technologies Chief Financial Officer Meng Wanzhou as she exits the court registry following the bail hearing at British Columbia Superior Courts in Vancouver, British Columbia on December 11, 2018. Meng Wanzhou, the chief financial officer of Huawei, was released on Can$10 million (US$7.5 million) bail on Tuesday in a case that has rattled relations between China, the United States and Canada. CTV / AFP

Japan-funded projects for signing in Q1 2019

Jan 16, 2019 - 4:35 PM

More flood control and road projects are set to be funded by Japan this year

DOF turns sour as sugar tax collections miss target

Jan 03, 2019 - 4:51 PM

Taxes collected from sugar-sweetened beverages from January to October 2018 stand at P30 billion, 25% short of the P40-billion target

DOF's 2019 wish: Passage of Trabaho bill, other tax reform packages

Jan 01, 2019 - 4:27 PM

Finance Secretary Carlos Dominguez III says they will seek a last push discussion with legislators for the approval of the measures before the 2019 elections

TRABAHO BILL. Finance Secretary Carlos Dominguez III says they will "discuss" Trabaho Bill again with legislators for a last push to pass it in the current Congress. Photo by Darren Langit/Rappler

Tax Academy to offer public finance, online courses in 2019

Dec 26, 2018 - 5:42 PM

Finance Undersecretary Gil Beltran says this setup will make courses of the Philippine Tax Academy available to all personnel of revenue agencies

Big ticket items you didn’t know you can buy without a credit card

Dec 21, 2018 - 7:03 PM

Now you can give your loved ones or yourself the things they’ve always wanted and needed

[OPINION] More urgency for the Philippines after Poland climate talks

Dec 20, 2018 - 1:34 PM

'The Philippines has actively championed the cause of vulnerable nations in the international arena, but now it needs to proactively lead its citizens toward a social transformation'

Arroyo as next finance or budget chief? Diokno says 'all speculation'

Dec 20, 2018 - 11:14 AM

'Sa job ko? My goodness... Kala ko kay Secretary [Carlos] Dominguez, hindi naman sa akin. But these are all speculation, okay,' says Diokno

Budget Secretary Benjamin Diokno at the Plenary Congress Plenary Hall to attend the 2018 budget deliveration on Tuesday, 11, 2018. Photo by Darren Langit/Rappler

[ANALYSIS] Let’s not blame the forecasters for runaway inflation

Dec 19, 2018 - 12:09 PM

Antagonistic remarks only put at risk otherwise friendly relations between government and the private sector

DOF blames 'faulty' forecasts for high inflation in 2018

Dec 17, 2018 - 11:10 AM

The Department of Finance says analysts' inaccurate forecasts elevated inflation expectations. But the agency's own estimates were also off.

Dominguez hits Arroyo over 'scandalous' China deals

Dec 06, 2018 - 3:55 PM

'I don't have to mention the names, I'll just mention some initials. ZTE, for instance,' says Finance Secretary Carlos Dominguez III

Tips on how to be financially secure

Dec 05, 2018 - 3:06 PM

Start the new year right

To tame inflation, agriculture must improve – economic managers

Dec 05, 2018 - 2:25 PM

Economic managers urge the Department of Agriculture to invest in modern farming tools to improve farmer productivity

IMPROVEMENT. Economic managers call on the Department of Agriculture to implement programs to improve farmer productivity. Photo by Mau Victa/Rappler


Local Treasury test results released

Dec 04, 2018 - 8:19 PM

PRESS RELEASE: CSC conferred recently the Local Treasurer Eligibility on 651 individuals who passed the Basic Competency on Local Treasury Examination

INFOGRAPHIC: The road to living life to the fullest

Nov 29, 2018 - 12:00 PM

Savings and loans are enablers to this, contrary to what you might believe

Philippines to meet budget deficit target in 2018, says DOF

Nov 28, 2018 - 2:50 PM

The Bureau of the Treasury says the year-to-date fiscal gap stands at P438.1 billion of the P523.6-billion target cap

TARGET. Finance Secretary Carlos Dominguez III says the Philippine government will most likely hit the budget deficit ceiling targeted for 2018. Photo from Department of Finace

Duterte EO adopts strategy to fight money laundering, terrorism financing

Nov 21, 2018 - 5:09 PM

The strategy is to be implemented by government agencies from 2018 to 2022

Seeking DOF post in 2019? ‘It's so hypothetical,’ says Arroyo

Nov 13, 2018 - 1:17 PM

Former president Gloria Macapagal Arroyo is on her 3rd and last term as Pampanga congresswoman and is planning to retire next year

RETIRING NEXT YEAR. Speaker Gloria Arroyo says she is not interested in a Cabinet post in 2019. File photo by Darren Langit/Rappler

A millennial dancer's financial adulting journey

Nov 07, 2018 - 1:24 PM

This is the story of how Michelle Kawpeng pursued her passion for dancing and teaching

Economic team urges agriculture dept to solve food supply problems

Nov 06, 2018 - 6:05 PM

The government's economic team says the Department of Agriculture must improve farmers' productivity to bring food prices down

FOOD PRICES. The government's economic team urges the Agriculture Department to implement reforms. Photo by Ben Nabong/Rappler

PH slips 11 notches in World Bank's ease of doing business ranking

Nov 02, 2018 - 1:28 PM

The Philippine government rejects the findings, as Philippine finance and trade officials urge the World Bank to correct the 'inaccurate and understated findings'

Philippines, China launch peso-yuan trading facility

Oct 30, 2018 - 8:05 PM

Finance Secretary Carlos Dominguez III says this reduces the cost of doing business for Chinese and Filipino businessmen

FASTER CONVERSION. The peso-yuan trading facility hastens the exchange of the two currencies. Shutterstock photo

Everything under the sun: Financial advice on education and inflation, can a parent afford both?

Oct 25, 2018 - 11:02 AM

In this "Everything Under the Sun" column, financial advisor Kendrick Chua tackles how a single father must prepare early on for his child's education

Dominguez: Chinese businessman Michael Yang not consulted on economic matters

Oct 22, 2018 - 12:45 PM

'I don't meet him on economic matters,' says Finance Secretary Carlos Dominguez III

ACCESS TO DUTERTE. Michael Yang (beside presidential aide Bong Go) accompanies President Rodrigo Duterte to a lunch with Chinese businessmen on October 19, 2016. Malacañang file photo

Phishing 101: How to spot and avoid phishing

Oct 19, 2018 - 3:03 PM

Phishing is an industry problem. Arm yourself with information to protect yourself and your money

Will they or won't they? DOF to review fuel tax hike suspension

Oct 18, 2018 - 3:15 PM

The Department of Finance sees less pressure to suspend the fuel excise tax hike in 2019, with Dubai crude prices possibly tapering off in the last quarter of 2018

DOF expects Trabaho bill to create 1.4 million jobs

Oct 17, 2018 - 3:30 PM

Finance Assistant Secretary Tony Lambino says the Trabaho bill would convince more firms to expand due to additional incentives, contrary to views of business groups

Government to cut projects over 2019 fuel tax hike suspension

Oct 17, 2018 - 10:45 AM

Budget Secretary Benjamin Diokno says non-infrastructure projects will be the first in line to be reviewed for postponement

Books will stay tax-exempt under Trabaho bill – DOF

Sep 25, 2018 - 2:35 PM

'Contrary to the wrong information spreading online, the Trabaho bill will not remove the VAT and customs duties exemption on the publication, sale, and importation of books,' says the Department of Finance

Inflation expected to jump even higher in August 2018

Sep 03, 2018 - 10:45 AM

The Department of Finance (DOF) expects inflation to hit another 9-year high

The value of commitment in the age of YOLO

Aug 28, 2018 - 4:00 PM

Why living in the now is not always the best piece of advice

Job losses 'very minimal' under Trabaho bill – DOF

Aug 22, 2018 - 1:45 PM

Finance Undersecretary Karl Kendrick Chua says over 97,000 small and medium enterprises can expand their businesses and generate more jobs due to lower taxes

JOBS. Finance Undersecretary Karl Kendrick Chua says lowering of corporate income taxes mean more jobs. Photo by Toto Lozano/Presidential Photo


Bataan investors defend need for incentives

Aug 16, 2018 - 7:40 PM

The investors raise concerns in a meeting with House officials and the Department of Finance to tackle the tax reforms under the Trabaho bill

Photo courtesy of Speaker Arroyo's office

Dominguez warns unclear federalism proposal would scare investors

Aug 15, 2018 - 5:05 PM

Finance Secretary Carlos Dominguez III says foreigners 'will not invest' if the rules under federalism are not clear

CLARITY. Finance Secretary Carlos Dominguez says the fiscal provisions under federalism must be clear. Photo by DARREN LANGIT