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Friday, August 2, 2024 Vol. 19 No. 290
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BSP COULD CUT RATES By Reine Juvierre Alberto @reine_alberto
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ESPITE inflation projected to breach the government’s targets in July 2024, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. still hinted at the possibility of an anticipated reduction in key policy rates in August.
“I think August 15 is still a possibility. Of course, it will depend on the numbers,” Remolona told reporters on the sidelines of the sixth general membership monthly meeting of the Consular Corps of the Philippines on Wednesday night. See “Despite,” A2
PHL reforms needed amid growth promise –think tank
YULO VAULTS AHEAD Carlos Edriel Yulo faced a dramatic start at the 2024 Paris Olympics but showcased his resilience by finishing 12th out of 24 qualifiers in the individual all-around finals of men’s artistic gymnastics on Wednesday, July 31 (early Thursday, August 1, Manila time) at the Bercy Arena. Despite a challenging beginning, where he stumbled on his dismount from the pommel horse and scored only 11.900, Yulo powered through the competition. Though he didn’t secure a medal this time, his impressive recovery built momentum for his events: the floor exercise—his pet event—on August 3 and the vault final on August 4. Story in Sports B8. AP/Charlie Riedel
BIR CELEBRATES 120 YEARS WITH NEW LOGO Finance Secretary Ralph G. Recto and BIR Commissioner Romeo D. Lumagui Jr. unveil the new BIR logo during the agency’s 120th anniversary celebration at the Philippine International Convention Center in Pasay City on Thursday, August 1, 2024. NONOY LACZA
BIR BARES NEW LOGO ON 120TH ANNIVERSARY
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HE Bureau of Internal Revenue (BIR) vowed to perform its role in generating revenues for the country with greater efficiency, excellence and enthusiasm as it marked its 120th founding anniversary on Thursday, August 1. The BIR evolved with the changing time and unveiled its new official logo, which serves as symbol of its identity, image and integrity. Internal Revenue Commissioner Romeo D. Lumagui Jr. said the BIR's logo is a powerful
representation of their mission, values, heritage and aspirations for the future. “This logo, inspired by entries from our logo-making contest, is a tribute to the countless individuals who have contributed to the success of the BIR over the decades,” Lumagui said. Entries from three contestants were combined by the BIR to create a comprehensive logo reflecting their dedication to deliver excellent taxpayer service, Lumagui said. Moreover, the Bureau also
marked its anniversary by obtaining a 100 percent Nationwide ISO Certification on some of its services as it shifts to a more service-oriented agency. The ISO Certification covers both the Operations Group, such as the Revenue Regions and Revenue District Offices, and the Large Taxpayer Service (LTS). The ISO Certification for the Revenue Regions and Revenue District Offices covers the Business Registration Process; See “BIR,” A2
By Andrea E. San Juan @andreasanjuan
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HILE the Philippines is seen to be the second fastest-growing economy within Southeast Asia in the next decade, it must address its issues on education, infrastructure and government effectiveness as well as the tensions with China, according to Southeast Asia Outlook for 2024-34 authored by Angsana Council, Bain&Company and DBS Bank. The report revealed that Southeast Asia is likely to “outpace” China in gross domestic product product (GDP) and foreign direct investment (FDI) growth over the next decade. See “PHL,” A2
BPI MARKS 173 YEARS The Bank of the Philippine Islands (BPI) continues to uphold banking excellence and customer obsession as it celebrates its 173rd anniversary. A celebratory Mass held on August 1, 2024 at BPI Buendia Center in Makati City was attended by top executives, members of the board of directors, and employees. In photo: BPI marks the milestone with a Mass celebrated by His Eminence, The Most Reverend Jose F. Cardinal Advincula, D.D. (center), Archbishop of Manila. Beside him (left to right) are BPI Chairman Jaime Augusto Zobel De Ayala and BPI President and CEO TG Limcaoco. CONTRIBUTED PHOTO
PESO exchange rates n US 58.4880 n japan 0.3902 n UK 75.2039 n HK 7.4866 n CHINA 8.0936 n singapore 43.7883 n australia 38.2745 n EU 63.3308 n KOREA 0.0428 n SAUDI arabia 15.5893 Source: BSP (August 1, 2024)