finance news and updates

Rappler's latest stories on finance

ARTICLE FINDER

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


Chinese debt trap? Americans did it too – Dominguez

Jul 31, 2018 - 5:25 PM

'We are not naive. We know all ODA (official development assistance) projects of all countries are designed to influence,' says Finance Secretary Carlos Dominguez III

EXPLAINER: Why the government is pushing for 2nd TRAIN package

Jul 31, 2018 - 3:05 PM

Economic managers aim to cut corporate taxes and push for a simpler fiscal incentive scheme, so what's stopping them? Two Goliaths: politics and money.

DOF runs after officials in P11-billion tax credit scam

Jul 22, 2018 - 4:56 PM

Finance Secretary Carlos Dominguez III forms a high-level task force to recover the P11 billion worth of undue tax credits

COA slams DOF over unused funds, unauthorized honoraria

Jul 20, 2018 - 2:49 PM

The Commission on Audit (COA) recommends that the Department of Finance come up with a 'more realistic budget proposal'

#ThewRap: Things you need to know, July 13, 2018

Jul 13, 2018 - 12:38 PM

Here are the stories you shouldn't miss this Friday

52.8 million Filipinos don't have bank accounts

Jul 12, 2018 - 7:08 AM

They say they don’t have enough money for that, according to a Bangko Sentral ng Pilipinas survey

The millennials' guide to choosing a financial advisor

Jul 09, 2018 - 6:24 PM

Chances are, you’ve already encountered one or more of these kinds of advisors

Thanks to loans, Build, Build, Build 'moving faster' – DOF

Jul 04, 2018 - 4:36 PM

Build, Build, Build is currently financed by taxes, official development assistance, and commercial loans

SITE INSPECTION. Finance Secretary Carlos Dominguez III speaks to reporters during an inspection of the National Government Administration Center on July 4, 2018. Photo by Aika Rey/Rappler

Philippines plans $1-billion samurai bond sale

Jun 19, 2018 - 7:25 PM

Finance Secretary Carlos Dominguez III previously said the samurai bond sale will happen sometime in the 3rd or 4th quarter of the year

COA questions safety of proposed gov't relocation site in Valenzuela

Jun 11, 2018 - 8:40 PM

(UPDATED) The Social Housing Finance Corporation gave the go-signal to start construction of a relocation project for 864 informal settler families from Valenzuela City within a site prone to flooding, tsunami, and unstable ground

UNSAFE? The Commision on Audit questioned the safety of a proposed government site in Valenzuela City.

DOF criticized for 'misleading' inflation graph

Jun 10, 2018 - 7:50 PM

Ex-Department of Finance undersecretary Sunny Sevilla says he is 'dumbfounded' by his former agency's 'tone-deaf, misleading economic commentary'

[EDITORIAL] #AnimatED: The bad joke that is Benjamin Diokno

Jun 04, 2018 - 9:00 AM

Step down from your ivory tower and embrace reality – the reality of the shrinking peso, in the truest meaning of the word

AMLC zooms in on jewelers, fund managers, lawyers, accountants

May 23, 2018 - 9:45 PM

They are now required to register and submit deeds of undertaking to comply with the Anti-Money Laundering Act, as well as attend regular trainings

Gov't underspending leads to narrower budget deficit as of April

May 23, 2018 - 8:05 PM

The Philippines' budget deficit from January to April is at P115.9 billion, lower than the P167.1-billion projection

Agriculture department asks P123.7-billion budget for 2019

May 04, 2018 - 1:41 PM

The proposed amount is more than twice the average allocation, and could be the agency's largest budget if approved

How to get the biggest savings from your trusted brands

May 03, 2018 - 2:56 PM

You can never go wrong with value-for-money purchases!

Maute assets probed as AMLC focuses on terror financing

Apr 19, 2018 - 4:54 PM

The Bureau of Internal Revenue investigates an unnamed individual who tried to claim the P52-million worth of Maute loot

TERROR MONEY. The Anti Money Laundering Council (AMLC) puts focus on investigating terrorism financing as they probe assets of the Maute terror group.

105 bets perpetually banned from public office for not filing SOCEs

Apr 18, 2018 - 8:10 PM

All candidates, winning or losing, must submit their statement of contributions and expenses (SOCE) to Comelec within 30 days after the elections

How solar-powered lamps empower women in Camarines Sur community

Apr 08, 2018 - 9:00 AM

Harnessing solar energy through small off-grid systems to power community livelihood and provide basic energy solutions is a big first step in ensuring energy access especially for people who hardly have any resources for electrification

Photos courtesy of WWF-Ph

[OPINION] It's time for more fintech in the Philippines

Apr 01, 2018 - 6:47 PM

Competition and innovation in finance are powerful forces for change and have the potential to benefit people across Southeast Asia

Customs uncovers P600-M worth of fake beauty products

Mar 28, 2018 - 11:14 PM

Customs Commissioner Lapena says, 'smugglers nowadays are bold to import these counterfeit items because majority of the Filipinos patronize fake products (for) its cheaper price'

Gov't to lease retail, dining spaces at Metro Manila Subway stations

Mar 25, 2018 - 9:20 PM

Philippine Finance Secretary Carlos Dominguez III says the revenues would help pay off Japan's loan for the construction of the subway

Dominguez photo by Malacanang

Davao Oriental, Pionaire sign MOU for $27-B industrial park

Mar 20, 2018 - 3:38 PM

The MOU is for the construction of an industrial park in Banaybanay town which will feature a 1,200-megawatt liquified natural gas combined cycle power plant, among other facilities

ENERGY PROJECT. Davao Oriental Governor Nelson Dayanghirang signs an MOU with Pionaire Ltd. Photo from the Province of Davao Oriental Facebook Page

Pia Wurtzbach gets real: 'Believe in what you stand for, you will find a way to achieve your goals’

Mar 12, 2018 - 6:00 PM

In this social experiment, Filipinos from different backgrounds are asked questions on what it takes to make your goals into a reality

Infra projects to help PH achieve 7% growth in 2018 – DOF

Mar 09, 2018 - 11:56 PM

During the country’s annual briefing with the Asian Development Bank, Finance Secretary Carlos Dominguez III says, 'Mindanao today is at the front and center of the Build, Build, Build infrastructure program'

Customs employees to get P1.4M incentive each if...

Mar 07, 2018 - 6:38 PM

Customs chief Isidro Lapeña says the bureau has to sustain until yearend the P2-billion monthly collection surplus it has registered so far

PH economic managers hail ranking by U.S. firm, vow more reforms

Mar 06, 2018 - 10:40 PM

'Our efforts to create a more business- and investor-friendly environment are gaining traction,' says Socioeconomic Planning Secretary Ernesto Pernia, after an American firm ranked the Philippines as the best country to invest in

DOF expects February inflation to exceed projections

Mar 05, 2018 - 7:45 PM

The Department of Finance attributes this to the higher prices of sin products such as cigarettes and alcoholic beverages

SIN PRODUCTS. A visit to Puregold supermarket on January 8, 2018 shows that a pack of Marlboro Black 20s is more expensive at P87.50, from last year's P68. Photo by Chrisee Dela Paz/Rappler

Inflation seen to continue hitting poor Filipinos hard

Mar 05, 2018 - 10:21 AM

Dennis Mapa, dean of the UP Diliman School of Statistics, also says the P200 monthly subsidy for poor Filipino households is not enough to offset the impact of the tax reform law

A vendor sells vegetables at a market near an informal settlers area in Manila on February 16, 2011. Rising food prices have pushed about 44 million people into poverty in developing countries since last June, the World Bank warned February 15. AFP PHOTO/TED ALJIBE / AFP PHOTO / TED ALJIBE

Philippines, Japan sign P4-billion loan deal for Bulacan road

Feb 28, 2018 - 7:31 PM

The loan will go towards expanding the Plaridel Bypass Road from two lanes to a 4-lane carriageway national road

Weeping mothers say their kids got Dengvaxia without consent

Feb 21, 2018 - 7:23 PM

'Dapat naman po bago kayo nagbitaw nang gano’n, humingi kayo ng pahintulot ng magulang... Masakit para sa isang magulang na mawalan ng anak,' says a mother of a now dead vaccinee in Muntinlupa

MOURNING MOMS. Annalyn Ebunia (L) and Janet Elipane (R) are two mothers of kids given the Dengvaxia vaccine and later died. Photo by Mara Cepeda/Rappler

Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012

Feb 20, 2018 - 4:05 PM

The Philippine government earmarks less than P90 million for the hosting of the Asian Development Bank annual meeting in 2018, lower than the P200 million it spent in 2012

Online influencer culture and politics: What happens when the two meet?

Feb 13, 2018 - 4:24 PM

Digital influencers as endorsers of brands are nothing new. But what happens when a politician is the product?