by Elijah Felice Rosales (The Philippine Star), 17 Jun 2021 MANILA, Philippines — Tourism’s contribution to gross domestic product (GDP) last year fell to below P1 trillion, its lowest in more than a decade, as expenditures on travel declined by double digits due to border restrictions put in place by the government.

by Lawrence Agcaoili (The Philippine Star), 17 Jun 2021 MANILA, Philippines — The International Monetary Fund (IMF) now expects a slower economic recovery for the Philippines this year as it slashed its gross domestic product (GDP) growth forecast to 5.4 percent amid delays in vaccinations and the resurgence of COVID-19 cases.

Countries with improved abilities to convert wealth into well-being tended to mitigate drops in economic performance and limit the growth of unemployment rates during the first year of the pandemic. — Boston Consulting Group (@BCG) June 15, 2021

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by Louella Desiderio (The Philippine Star), 16 Jun 2021 MANILA, Philippines — Local exporters are incurring higher costs and losses due to disruptions in the global container shipping industry.

by Louise Maureen Simeon (The Philippine Star), 15 Jun 2021 MANILA, Philippines — The digital economy is expected to produce more job opportunities for women if gender gaps are addressed.

by Richmond Mercurio (The Philippine Star), 15 Jun 2021 MANILA, Philippines — The country’s import shipments toward the holiday season could face delays due to unprecedented demand and congestion at some of the world’s major ports.

by Evelyn Macairan (The Philippine Star), 15 Jun 2021 MANILA, Philippines — A body was fished out of Manila Bay yesterday by divers of the Philippine Coast Guard (PCG) near the cargo vessel that caught fire at the Delpan Wharf in Tondo over the weekend.

by Neil Jayson Servallos (Philstar.com), 15 Jun 2021 MANILA, Philippines ?(PCIJ) — It was the year 2010. National Bureau of Investigation (NBI) agent Bernard Dela Cruz remembered watching dozens of children move in and out of an internet cafe in Cebu City in central Philippines, wondering if they were the young boys and girls they…

BSP Governor Benjamin Diokno on inflation: Our latest inflation forecast is likely to settle at 3.9% in 2021 & 3% in 2022. Both within the 2 to 4% target range. pic.twitter.com/g0HuJB0MYk — Warren de Guzman (@wddeguzman) June 15, 2021

by Delon Porcalla (The Philippine Star), 14 Jun 2021 MANILA, Philippines — The Philippines remains a laggard among its Asian neighbors, partly because of the influence oligopolies have over practically all administrations and, as such, local tycoons’ businesses thrive and deprive the country of much-needed foreign direct investments.

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by Lawrence Agcaoili (The Philippine Star), 13 Jun 2021 MANILA, Philippines — Monetary authorities have vowed to keep a close watch on evolving wage dynamics and its ability to influence price movements as the country’s jobless rate improves with the ongoing recovery from the recession.

(The Philippine Star) 13 Jun 2021 MANILA, Philippines — More Filipinos are embracing digital banking services amid strict lockdown and quarantine measures to slow the spread of COVID-19, according to the Visa Consumer Payment Attitudes study.

by Robertzon Ramirez, Ralph Edwin Villanueva (The Philippine Star), 13 Jun 2021 MANILA, Philippines — Six persons were injured and two were reported missing when an oil tanker caught fire as it was refueling at the Delpan Wharf in Tondo, Manila yesterday morning.

By Antoinette Capuz, Manila Standard Child labor remains prevalent in the Philippines along with the rest of South-Eastern Asia region, according to the International Labor Organization and United Nations Children’s Fund which on Thursday said that the worldwide tally has increased to 160 million amid the coronavirus disease 2019 pandemic.

by Louise Maureen Simeon (The Philippine Star), 11 Jun 2021 MANILA, Philippines — London-based Oxford Economics further slashed its growth forecast for the Philippines to 4.5 percent this year, among the lowest projections for the country, due to a weaker-than-expected performance in the first quarter and slim prospects of recovery in the second quarter.

(Philstar.com), 10 Jun 2021 MANILA, Philippines — Rep. Joey Salceda (Albay) on Thursday proposed an amendment to the National Internal Revenue Code in a bid to resolve private schools’ woes on a new policy that would hike its tax rate to 25%.

by Christian Deiparine (Philstar.com), 10 Jun 2021 MANILA, Philippines — The Duterte administration on Thursday backed a new policy that would hike private schools’ tax rate to 25% amid the pandemic, despite a group appealing for the president’s help.

by Louella Desiderio (The Philippine Star), 10 Jun 2021 MANILA, Philippines — Negotiations for the takeover of Hanjin Heavy Industries and Construction Philippines’ shipyard in Subic are expected to be concluded soon, the Subic Bay Metropolitan Authority (SBMA) said.

by Edu Punay, Delon Porcalla (The Philippine Star), 10 Jun 2021 MANILA, Philippines — The government’s new revenue regulation which increases the tax on private schools under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law is illegal, a House leader said yesterday.

by Louise Maureen Simeon (The Philippine Star) 10 Jun 2021 MANILA, Philippines — Manila slipped six notches in the global ranking of livable cities as the COVID-19 pandemic strained its healthcare system, prompting the government to impose the world’s longest and strictest lockdown.

by Louella Desiderio (The Philippine Star), 10 Jun 2021 MANILA, Philippines — The production and sales of motorcycles and scooters in the Philippines posted double-digit growth in the four months to April from a year ago, when manufacturing facilities and dealerships temporarily suspended operations as lockdowns were enforced in response to the coronavirus pandemic.

(The Philippine Star), 9 Jun 2021 MANILA, Philippines — Electronic money transactions processed by banks and financial technology providers jumped by almost 61 percent to P2.39 trillion in 2020 from P1.49 trillion in 2019 as the shift to digital payments from the traditional mode of cash transactions accelerated amid the pandemic.

by Gerardo P. Sicat (The Philippine Star) 9 Jun 2021 The G7 finance ministers of the most economically advanced countries met in London last weekend. They agreed to resolve the thorny issues on the taxation of big multinational firms that has bothered tax authorities of many nations for decades.

by Louise Maureen Simeon (The Philippine Star), 9 Jun 2021 MANILA, Philippines — The reimposition of strict quarantine measures wiped out the minimal gains in the country’s labor market as more Filipinos lost their jobs again in April.

by Czeriza Valencia (The Philippine Star), 9 Jun 2021 MANILA, Philippines — Private schools have asked the Court of Tax Appeals to review and stop the implementation of a revenue regulation that can significantly raise the tax take from proprietary or private educational institutions.

By Melissa Luz Lopez, CNN Philippines, 8 Jun 2021 Metro Manila (CNN Philippines, June 8) — The Philippine economy will record an even slower economic growth this year following a steep crash in 2020, the World Bank said Tuesday.