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New tax law spurs ‘dramatic’ retreat from long-term bank savings

MANILA, Philippines — The new law ending tax breaks on long-term time deposits has triggered a “dramatic” exodus from those savings products, leaving banks and policymakers to wonder where the cash will flow next. Michael Angelo Kho Samson, who chairs the capital markets development committee of the Bankers Association of the Philippines, said member-banks had

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ADB work in Philippines to continue

MANILA, Philippines — The Asian Development Bank (ADB) said a corruption scandal involving flood control projects would not deter it from financing work in the Philippines, noting that the institution maintains “close oversight” of its investments. “You know, we’re always cautious about all our projects,” Andrew Jeffries, the bank’s country director for the Philippines, told

2 mins read

Maharashtra News: OBC Groups Approach Bombay HC Seeking Urgent Hearing Against GR Issuing Kunbi Caste Certificates To Marathas; Suicide Cases Highlight Reservation Tensions

Several organisations representing the Other Backward Classes (OBC), on Monday, sought an urgent hearing on a batch of petitions challenging the Maharashtra government’s decision to issue Kunbi caste certificates to members of the Maratha community from the Marathwada region for reservation benefits.