Bloomberg Carlos Dominguez, who is set to become finance secretary in the Philippines, said the incoming government of President-elect Rodrigo Duterte is willing to initially lose revenue through income-tax cuts to help boost economic growth and reduce poverty. Lower income levies will be part of a tax reform bill submitted to lawmakers by September, Dominguez, 70, said in an ...

  Bloomberg The European Central Bank’s ultra-loose monetary policy has helped boost growth and inflation in the euro area, according to research by the Bank of Spain assessing the impact of quantitative easing in the 19-nation bloc. The ECB’s actions would have added about 1.4 percentage points to the bloc’s total output and lifted prices by about 1.2 points respectively ...

  Paris / AFP The German and French central banks issued downbeat growth forecasts, as the EU Commission came under pressure to bring Paris in line over excessive deficits. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year, slowing to 1.4 percent in 2017. This was a downgrade of previous forecasts of 1.8 percent and ...