Philippines

Philippines Aims to Broaden Bond Market with Ambitious $9 Billion Debt Offering

3 days ago

In a significant move to strengthen its financial market, the Philippine government is working to expand its bond offerings by introducing a substantial $9 billion debt sale. This initiative is part of a broader strategy intended to enhance the country’s fiscal position and attract more local and international investors to its growing market.

Philippines to Enhance Fintech Oversight Following Major E-Wallet Service Disruption

1 month ago

The Philippines plans to strengthen its regulatory framework for financial technology (fintech), particularly after a significant disruption in the electronic wallet service GCash. This incident, reported as one of the largest outages to hit the platform, raised concerns regarding the resiliency and oversight of digital finance systems in the country. GCash, which is widely used across the Philippines for various transactions, experienced a glitch that left many users unable to access funds or complete transactions, resulting in public outcry and calls for improved security measures.

Macquarie Explores Potential Sale of Philippines Telco Tower Business

1 month ago

In a significant development in the telecommunications infrastructure market, Macquarie Group is reportedly considering the sale of its telecommunications tower operations in the Philippines. This potential divestiture reflects broader trends in the rapidly evolving telecom sector, where the demand for efficient infrastructure management continues to grow.

Philippines Imposes 12% Value-Added Tax on Netflix, HBO Services

3 months ago

The Philippines is going to impose a 12% Value-Added Tax on streaming services, such as Netflix and HBO. This is part of the broader move by the government in capturing taxes from such digital services that have seen a rise in their consumption throughout the COVID-19 pandemic.