In response to changes and developments in the capital market, Finance Secretary Cesar Purisima deemed it necessary to take measures to protect the the investing public from fraud or loss by ensuring the proper assessment and collection of taxes on the transfer of government securities.
Read MoreThe Bureau of Customs seized an estimated 1,250 Metric Tons (1.25-Million kilograms) of white rice that had been arrived in the country without the required import permits from the National Food Authority (NFA). The rice, stocked in 25,000, 50-kg bags, was contained in 50, 20-foot container vans, have an estimated market value of about P50-Million.
Read MoreThe Philippine Deposit Insurance Corporation (PDIC) will conduct a public bidding of closed banks’ assets on an “as is, where is” basis on October 9, 2014 at the Bangko Sentral ng Pilipinas (BSP) – Cebu Regional Office, Osmeña Boulevard corner P. del Rosario St., Cebu City. Bids should be submitted from 9:00 AM until 2:00 PM. Subject of the public bidding, the third for the year, is a total of 126 residential and commercial lots with aggregate minimum disposal value of P51.57 million.
Read MoreThe Monetary Board (MB) placed the Rural Bank of Lobo, Inc. under the receivership of the Philippine Deposit Insurance Corporation (PDIC) by virtue of MB Resolution No. 1438 dated September 18, 2014. As Receiver, PDIC took over the bank on September 19, 2014.
Read MoreThe Philippine government continues to improve on its liability management performance on the back of the Aquino administration’s commitment to uphold the nation’s creditworthiness. As of March 2014, the general government (GG) debt stood at P4,492.0 billion or 38.1% of GDP. The current ratio is lower than the Q1 2013 level of 38.5%.
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