Suspending the excise tax on petroleum products is expected to have serious repercussions on state coffers and on the overall economy, Finance Secretary Benjamin Diokno warned yesterday, dismissing the proposal from legislators as “short-sighted and il...

The Development Bank of the Philippines has remitted its P25-billion contribution to the Maharlika Investment Fund ahead of the formal establishment of the corporation that will manage the country’s first sovereign wealth fund.

The Bureau of Customs has forfeited over 40,000 sacks of allegedly smuggled rice valued at P42 million in Zamboanga City.