finance - updates

Rappler's latest stories on finance

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Davao, Cebu road projects get P75-billion Japan funding

Jun 16, 2020 - 4:47 PM

The Philippines and Japan sign a new loan deal worth P75.5 billion for the Davao City Bypass and the Cebu-Mactan 4th Bridge and Coastal Road

LOAN DEAL. Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency chief representative Eigo Azukizawa signs the P75.5-billion loan deal for Cebu and Davao road projects on June 16, 2020. Photo from DOF

After clash, Dominguez offers Economics 101 for Imee Marcos

May 27, 2020 - 4:50 PM

The offer of Finance Secretary Carlos Dominguez III to provide a special briefing comes after he clashed with Senator Imee Marcos over Masagana 99, the failed rice program of dictator Ferdinand Marcos

BDO tops initial list of top taxpayers in 2019

May 25, 2020 - 5:05 PM

A subsidiary of embattled ABS-CBN also makes it to the initial list of the top 500 taxpayers


DOF says P130-B stimulus program 'appropriate,' as departments wish for more

May 21, 2020 - 7:50 AM

Labor, tourism, and transportation departments tell senators they need a total of P205-billion coronavirus bailout

CORONAVIRUS BAILOUT. Finance Secretary Sonny Dominguez attends a Senate hearing on November 12, 2019. File photo by Angie de Silva

Philippines eyes joint ventures, guarantees to save virus-hit businesses

May 15, 2020 - 3:55 PM

The government is looking at liquidity and equity infusions to save the tourism and travel industries. Small lenders will also be given a boost by state-run banks.

Bank group raises questions on debt relief for poorest countries

May 05, 2020 - 11:20 AM

The Institute for International Finance praises the move to grant debt relief to vulnerable countries, but highlights the challenges

HAITI ECONOMY. People sell merchandise near the State Hospital in downtown Port-au-Prince, Haiti, on March 26, 2020. Photo by Pierre Michel Jean/AFP

Coronavirus crash: Should you pull out of the stock market?

Apr 17, 2020 - 6:33 PM

Take a deep breath first and read this before making a decision

DOF rejects Imee Marcos' proposal to defer debt payments

Apr 14, 2020 - 10:00 PM

(UPDATED) Finance Secretary Carlos Dominguez III says proposals to defer paying debt obligations in favor of financing coronavirus-related expenses are 'narrow-sighted'


Aid for firms 'take a back seat,' poor are 'priority' in PH virus fight

Mar 31, 2020 - 2:30 PM

Finance Secretary Carlos Dominguez III says the government will 'eventually' put in place programs for businesses. For now, they will prioritize cash subsidies.

Adulting 101: How to prepare your finances during a pandemic

Mar 28, 2020 - 11:18 AM

During these times, it is best to keep calm, compose yourself, and come up with a plan to make yourself more financially healthy

Philippines ready to increase debt levels vs coronavirus

Mar 26, 2020 - 2:40 PM

The Duterte administration is seeking a $1-billion loan on top of the massive budget realignments to combat the pandemic

Lawmakers ask DOF, BIR: Don’t be ‘heartless,' extend tax filing deadline

Mar 18, 2020 - 7:11 PM

'Hindi kami nanghihingi ng pera. Magbabayad kami ng buwis. Pero huwag mo naman sabihin sa amin na magbayad kami 2 araw matapos ang quarantine na in-impose niyo,' says Congressman Joey Salceda

GHOST TOWN. An almost lifeless Araneta Center in Cubao, Quezon City hours after the government enforces an enhanced community quarantine over Luzon island on March 17, 2020. Photo by Lisa Marie David/Rappler

Philippines to borrow more than planned to combat coronavirus impact

Mar 11, 2020 - 10:25 AM

As lower revenue collection is seen due to the spreading novel coronavirus, the Philippines' budget deficit may hit as high as 3.6%

Military denies soldiers helped syndicates smuggle cash into PH

Mar 04, 2020 - 1:30 PM

It could have been retired servicemen now working for private security companies whom the Bureau of Customs spotted escorting syndicates' couriers at the airport, says AFP spokesperson Edgard Arevalo

AREVALO. Armed Forces of the Philippines Spokesperson Brigadier General Edgard Arevalo. File photo by Darren Langit/Rappler

'A mess': Coronavirus economic impact on Philippines worse than projected

Mar 03, 2020 - 3:00 PM

The Philippines' economic managers see lower tax collections and reduced Chinese imports due to the spread of the virus

People buying protective masks at a medical supplies store in Manila on January 31, 2020. - The Philippines reported its first case of the virus on January 30, of a 38-year-old woman who arrived from Wuhan and is no longer showing symptoms. (Photo by Ted ALJIBE / AFP)

Police, military 'helped syndicates' bring in P18.7 billion to Philippines

Mar 02, 2020 - 4:45 PM

The Bureau of Customs says couriers of dirty money working for two criminal groups were able to waltz through airport security with police and military escorts


'No impact' on fuel supply if 'onerous' Chevron land rental not renewed – DOE

Feb 23, 2020 - 6:45 PM

The Department of Energy plans to build an 'energy city' in place of Chevron's facilities on government land in San Pascual, Batangas

Background image from Chevron Philippines website

Lawmakers reject 'stupid' proposal to regulate campaign spending, contributions

Feb 19, 2020 - 3:02 PM

Deputy Speaker Johnny Pimentel argues that it is 'restrictive' and 'unrealistic' for the state to regulate even the contributions given to candidates during the campaign

CHARTER CHANGE TALKS. The House constitutional amendments committee holds a hearing on February 19, 2020. Photo by Mara Cepeda/Rappler

Finance team says PH economy 'can handle' coronavirus effects

Jan 30, 2020 - 9:35 PM

Philippine officials do not see the novel coronavirus putting a major dent in the economy

MINIMAL ECONOMIC EFFECT. Chinese nationals arriving from Guangzhou, China are seen wearing face mask at the arrival area of Ninoy Aquino International Airport Terminal 1 in Pasay City. File photo by Ben Nabong/Rappler

DOF slams Chevron over 'onerous' rental of government land

Jan 21, 2020 - 3:15 PM

The Department of Finance says Chevron Philippines only pays P0.74 per sqm or just over P10 million a year to rent a 1.2-million-sqm land in San Pascual, Batangas

Dominguez says BIR did a 'good job' despite missing 2019 collection target

Jan 14, 2020 - 4:05 PM

The Bureau of Internal Revenue's collection in 2019 breaches the P2-trillion mark, but still falls short of the ambitious target

World Bank loans Philippines $300 million for conditional cash transfers

Nov 28, 2019 - 5:05 PM

The World Bank has contributed a total of $1.26 billion to the Pantawid Pamilyang Pilipino Program since it first provided funding in 2010

'A real patriot': Colleagues, friends honor ex-DOF chief Ernest Leung

Nov 17, 2019 - 12:51 PM

'Tough as nails, straight as an arrow, and a real patriot. One of a kind,' says former interior secretary Rafael Alunan III of former finance secretary Ernest Leung

FORMER FINANCE CHIEF. Former finance chief Ernest Leung. Screenshot from Philippine Economic Society Facebook page

Adulting 101: What to do with your 13th month pay

Nov 15, 2019 - 12:49 PM

Part of adulting is learning how to spend your Christmas bonus wisely

More than 500,000 Filipinos save money to celebrate PH’s first ever GCash World Savings Day

Nov 11, 2019 - 9:31 PM

An astounding feat made possible by GCash app's Save Money feature, powered by CIMB Bank Philippines

DOF not too keen on taxing salty products

Nov 08, 2019 - 5:20 PM

'Meron diyang food labeling types of intervention.... So nandoon palang ‘yung usapan, wala pang specific proposal para dito sa panukalang ito,' says Finance Assistant Secretary Tony Lambino

STUDYING. Finance Asec Tony Lambino says the government is still studying the proposed 'asin' tax. Photo by Angie de Silva/Rappler

Sandiganbayan convicts 3 ex-DOF officials over tax credit fraud

Nov 03, 2019 - 7:35 PM

Former DOF officials Uldarico Andutan Jr, Raul de Vera, and Rosanna Diala are sentenced to 6 years in jail over the 'fraudulent approval' of a P6-million tax credit certificate for Jam Transit

GRAFT CHARGES. Three former Department of Finance officials are sentenced to 6 years in prison over the fraudulent approval of a tax credit certificate. Photo by Darren Langit/Rappler

WATCH: GCash World Savings Day celebration

Oct 31, 2019 - 8:32 PM

Watch our live coverage of PH’s first ever celebration of World Savings Day on October 31

How to be financially independent and prepare for retirement the right way

Oct 28, 2019 - 5:48 PM

Research has shown that Filipinos lack the proper preparation for their retirement years

DOF backs more taxes for online gambling firms

Oct 22, 2019 - 6:57 PM

Finance Secretary Carlos Dominguez supports the plan of Albay Representative Joey Salceda to slap more taxes on Philippine Offshore Gaming Operators and their service providers

GCash’s #LetsSaveTogether campaign urges Filipinos to kickstart their saving habit

Oct 18, 2019 - 4:14 PM

The campaign leads up to the first World Savings Day celebration in the PH on Oct 31

#LETSSAVETOGETHER. (L-R) GCash President and CEO Anthony Thomas, AVP for Financial Services Kim Seng, and Head of Savings Jerome Avan Lim formally launch the #LetsSaveTogether campaign. All photos by Lisa David

INFOGRAPHIC: Ways to raise the funds you need to grow your business

Oct 17, 2019 - 10:59 AM

Lacking the funds to finally expand your business? Here’s what you can do.

TUCP fears job losses under Citira bill

Oct 13, 2019 - 3:50 PM

The Trade Union Congress of the Philippines urges government agencies to put in place a 'genuine transition program' for displaced workers before Citira's implementation – not after

JOB LOSS? Citing estimates by business groups, labor group Trade Union Congress of the Philippines says some 700,000 workers may lose their jobs with the passage of the Citira bill. File photos by AFP

Finding it hard to save despite a regular source of income? You’re not alone

Oct 09, 2019 - 7:24 PM

Posts using the hashtag #PlsSaveMe by GCash are giving hope to Filipinos online

QUIZ: How financially-savvy are you?

Oct 02, 2019 - 3:07 PM

Do you think you’ve got a good handle on your finances? Test your financial know-how through this short quiz.

ROUNDTABLE: How partnerships enrich lives

Sep 30, 2019 - 4:02 PM

No one makes it through life alone – having a partner can make life more fulfilling! Watch our roundtable discussion on September 30, 4 pm onwards.

After rejecting foreign aid over drug war, PH seeks new funders

Sep 30, 2019 - 1:25 PM

The Department of Finance is looking for funding from new partners – ones that did not support the resolution adopted by the United Nations Human Rights Council

Finovation 2019: for stronger collaboration and greater credit access through upgraded fintech

Sep 25, 2019 - 5:02 PM

With the theme "Real Problems, Real Solutions," the summit was held on September 25 at The Peninsula Manila

Philippines 'can earn P300B yearly' if gaming industry privatized

Sep 25, 2019 - 3:55 PM

Finance Secretary Carlos Dominguez III says P300 billion in annual revenues can be achieved 'with no effort' should the government privatize Pagcor and PCSO gaming operations

MORE REVENUES. Finance Secretary Sonny Dominguez says that the government would earn more with privatizing the gaming sector. Photo by Angie de Silva

INFOGRAPHIC: How to avoid credit card rejection and get #AcceptED

Sep 17, 2019 - 3:01 PM

Education is the first step. Here are the common reasons why applications are rejected and what you must do to get #AcceptED.

Dominguez orders BIR to shut down tax-dodging POGOs

Sep 15, 2019 - 6:05 PM

'Those who don't pay or respond to your assessments, clamp them down,' says Finance Secretary Carlos Dominguez III

'Noisy naysayers' vs Citira bill proven wrong by numbers, says DOF

Sep 11, 2019 - 3:10 PM

Finance Undersecretary Karl Chua says the surge in investment pledges in the 1st half of 2019 refutes claims of critics of the proposed Corporate Income Tax and Incentive Rationalization Act

Finance Undersecretary Karl Kendrick Chua says naysayers of the Citira bill are proven wrong by numbers. Photo by Angie de Silva/Rappler

Basagan ng Trip with Leloy Claudio: Why finance experts should challenge mutual funds in PH

Aug 30, 2019 - 6:26 PM

Have you invested in mutual funds in the Philippines? This episode explains how and why you are being shortchanged.

June 2019 Local Treasury test results released

Aug 14, 2019 - 10:02 PM

PRESS RELEASE: A total of 475 individuals passed the Basic Competency on Local Treasury Examination given by the Civil Service Commission last June 23

Why some of your colleagues and boss are paid more than you

Aug 10, 2019 - 8:37 PM

Traditional salary models rely on the so-called 'tournament theory,' but new research suggests that it may be unfair and lead to unhealthy competition

‘With education comes empowerment’: We asked experts how to avoid getting #RejectED

Aug 06, 2019 - 4:16 PM

We talked to finance experts about financial inclusion and the credit landscape in the PH

Why you need a life partner – and not necessarily the romantic kind

Aug 06, 2019 - 2:40 PM

We all value independence. But there are some things we can’t do alone.

ROUNDTABLE: No application, no rejection...no problem?

Jul 30, 2019 - 11:07 AM

Join us for a roundtable about the Philippines' credit landscape on July 30, 11 am

Getting #rejectED sucks, here’s what you need to know about the credit process

Jul 23, 2019 - 5:35 PM

Based on our survey, instead of just plain rejection, many don’t have credit cards or loans because they don’t bother to apply

Philippines, ADB sign $1.3-B loan deal for Malolos-Clark Railway

Jul 11, 2019 - 5:25 PM

The Malolos-Clark Railway is seen to cut travel time from Manila to the Clark International Airport to less than an hour

RTVM screenshots