Hey guys guess this is good news.. Extracted sound bites here.
...The Philippine benchmark rose as much as 0.75 per cent, ...
...with real estate company Ayala Land climbing as much as 2 per cent ...
...The property sector will also gain as the Department of Finance is looking to revive REITs once the bill is passed,...
Start of the whole article below. Credits to http://www.themalaymailonline.com and www.reuters.com/
The Philippine Stock Exchange is heading for its first gain in three sessions, the best performer in South-east Asia. — Reuters pic
MANILA, June 1 — Philippine shares rose today, heading for their first gain in three sessions and outperforming other South-east Asian markets, after the lower house of Congress approved a much-anticipated tax reform bill yesterday.
The bill, yet to be published and which still needs Senate approval, is critical to President Rodrigo Duterte's economic programme, which focuses on infrastructure spending and fiscal efficiency to lift growth to as much as 8 per cent before his six-year term ends in 2022.
- See more at: http://www.themalaymailonline.com/money/article/philippines-rises-on-lower-house-nod-for-tax-reform-bill#sthash.JUCiWDul.dpuf
