BSP seeks add’l P150-B capital

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Bangko Sentral ng PilipinasMANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) is asking for an additional capital of P150 billion to better perform its functions in promoting monetary and price stability. The additional capital, payable in three years until 2017, is under the BSP’s proposed amendments to its charter, central bank deputy governor Vicente S. Aquino told a forum on Saturday. “The scale and complexity of the responsibilities of the BSP have been magnified by the growth of the Philippine economy and the expansion of its financial system,

Cebu Pacific eyes more Phl hubs

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Cebu Air IncMANILA, Philippines - Budget airline Cebu Air Inc., the operator of the Cebu Pacific brand, is looking at increasing the number of its hubs in the Philippines to cope with increasing demand for air travel in and out of the country. Cebu Pacific president Lance Gokongwei said the low-cost carrier is set to establish more hubs in the Philippines as it is in the middle of a $4-billion refleeting program covering the acquisition of 49 new Airbus aircraft over the next nine years.

Online Tax filing possible by 2014

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www.philstar.comInternal Revenue Commissioner Kim Henares said that the Bureau of Internal Revenue (BIR) is pushing for easier tax returns filing and payment using an online system. In the Mid-year Philippine Economic Briefing held at the Philippine International Convention Center on Tuesday, Henares said that not only establishments and corporations, but also individuals and self-employed persons may file as well as register their tax returns online by April 2014, and can also choose to pay through banks.