The Bureau of Internal Revenue stressed the need to lift the bank secrecy law for tax purposes to bring the Philippines in line with countries establishing a single and consistent global standard in tracking tax fraud.
Philippine banks with US-citizen clients who are non-compliant with US tax rules may face sanctions.
Singapore Exchange said U.S. investors can now trade its latest suite of Asian index futures with ease.
The Bangko Sentral ng Pilipinas has asked Congress to pass a bill easing restrictions on foreign banks investing in the country.
The Philippine central bank is eyeing new measures to further develop the country's capital markets.
The Bangko Sentral ng Pilipinas (BSP) plans stricter guidelines on banks’ exposure to the real estate sector as the country’s property market continues to boom.
The Bangko Sentral ng Pilipinas, along with other government agencies, has established the nation’s Financial Stability Coordination Council.
Thailand’s stock exchange plans to change its rules to allow foreign companies to list in Bangkok, in a bid to become a regional trading hub challenging Singapore and Hong Kong.
The expansion plans of Malaysia-based CIMB Group and Philippines-based BPI (Bank of the Philippine Islands, rated BBB-), and their transition to Basel III, is driving them to raise capital, says Fitch Ratings.
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