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DENR, MICC push for lifting of MPSA applications

THE Department of Environment and Natural Resources (DENR) and the Mining Industry Coordinating Council (MICC) are lobbying for the lifting of the moratorium on applications for mineral production sharing agreement (MPSA), which can only be possible with a new fiscal regime, according to an official.

PHL online hiring up 3% in Q3: Monster.com

ONLINE HIRING in the Philippines rose 3% in the July to September period on the back of expectations that the country’s gross domestic product (GDP) would maintain a steady growth next year, a report by job hunt website Monster.com said.

UCPB income slips in first nine months

THE United Coconut Planters Bank (UCPB) saw its net income slip as of the third quarter as it reeled from lower trading gains and higher borrowing costs.

An advocate of good governance and Philippine competitiveness

At a time when skyrocketing inflation is presenting economic challenges within the country, and an increasingly tricky global politics posing difficulties, Philippine competitiveness is...

NEDA ICC-CabCom approves increase in North-South Commuter Railway project cost

THE NATIONAL Economic and Development Authority (NEDA) raised the project cost for the long-haul commuter line of the Philippine National Railways (PNR) by nearly double to buy more trains and build elevated tracks.

From the Front Page: Military takes over Customs, business leaders react

Your weekly recap of BusinessWorld news.

Liquidity growth slowest in nearly three years

MONEY SUPPLY growth eased anew in September to post its slowest pace in almost three years, the central bank said, as bank lending also cooled at a time of higher interest rates.

Yields on term deposits go up

YIELDS fetched on term deposits climbed anew this week as the central bank reduced the amounts offered during Wednesday’s auction.

SRA reports 18% drop in sugar prices

THE Sugar Regulatory Administration (SRA) said on Friday the farm-gate price of sugar fell 18% this month to P1,634.58 per 50 kilograms from P2,003.60 in July.

PHL bond market grows in Q2

THE Philippine bond market continued to expand in the second quarter even as yields surged as a result of successive rate hikes by the central bank, the Asian Development Bank (ADB) said.

Gross international reserves climb in August

THE COUNTRY’S gross international reserves (GIR) grew in August on the back of net foreign currency deposits of the government and income from the central bank’s external investments, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

DTI invites PACC to help craft EoDB Act’s implementing rules

THE Department of Trade and Industry (DTI) has urged the Philippine Anti-Corruption Commission (PACC) to take part in the crafting of the Ease of Doing Business law’s implementing rules and regulations (IRR) after the former criticized the “delay” in its completion.

Rising prices weigh on business

BUSINESSES OPTIMISM softened this quarter from the past year amid rising commodity prices — marking the third straight quarter-on-quarter dip and the lowest point since 2010 — although the outlook for the next three months improved on expectations of higher consumer demand ahead as Christmas holidays approach.

Approved FDI pledges surge in 2nd quarter

COMMITTED foreign direct investments (FDI) in the second quarter made the biggest improvement in nearly three years, according to data the Philippine Statistics Authority (PSA) released on Thursday.

PHL economy seen to withstand further tightening

THE ECONOMY can withstand further policy tightening from the Bangko Sentral ng Pilipinas (BSP), even as it fired off its strongest response in a decade last month, according to the minutes of the Monetary Board meeting.

Senators call for measures to ease inflation

SENATORS on Thursday called on the government to implement measures to counter inflation, which rose to 6.4% in August.

Approved foreign investment pledges up by 70% in second quarter

Approved foreign investment pledges rose by 70.4% in the second quarter, its highest in almost three years, the Philippine Statistics Authority said. Preliminary PSA data...

Credit Suisse expects BSP to raise rates by 50 base points

Financial services firm Credit Suisse said the local central bank needs to hike its interest rates by 50 basis points (bp) to dampen inflation...

August inflation fastest in nearly a decade

HEADLINE INFLATION in August caught state economic managers and financial markets by surprise, shooting up to its fastest clip in almost a decade, according to official data the Philippine Statistics Authority (PSA) released on Wednesday.

Increase in consumer prices fastest in almost ten years — PSA

Inflation in August shot up to its fastest pace in almost a decade, according to the government's latest data released this morning. Data from the...

More jobs in July, but job quality declines

Mixed readings were observed in the government’s latest labor data as unemployment eased but those wanting more work increased. Preliminary results of the July 2018...

Turkey inflation surges to 15-year high in August

Ankara -- Inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Monday, a record since late 2003 and...

Fed is most at risk of falling behind, says Swiss Re...

As central banks the world over find their place in the monetary policy tightening cycle, the one at the helm is the most at...

Statistics body: GDP rebasing to wait

THE PHILIPPINE STATISTICS AUTHORITY (PSA) will hold off till 2020 the use of a new baseline for measuring economic growth.

Fed chief takes stage under Trump’s critical gaze

Washington, United States -- President Donald Trump's renewed criticism of the Federal Reserve's handling of the economy mean politics may overshadow highly anticipated comments...

US-Mexico trade talks progressing but no breakthrough with China

Washington, United States -- US officials holding a two-front battle in President Donald Trump's bid to revise major trade ties made progress with Mexican...

Monetary policy via Facebook is Southeast Asia tool in turmoil

As the economic landscape gets more rocky, Southeast Asia’s central bankers are turning to Facebook and YouTube for help in getting their messages across. The...

US-China trade war hits $100 billion in goods

Washington -- From Harley-Davidson motorcycles and American bourbon to Chinese parts and machinery, the world's two largest economies have exchanged punitive tariffs that slice...

What’s next in the trade war? Key US-China events to watch...

China and the US resume trade talks this week, ending the hiatus after an earlier deal collapsed in May. Fresh rounds of tariffs on each...

Credit raters caution against watering down tax reforms

THE CURRENT FORM of the second tax reform package, as approved by a House of Representatives committee earlier this month, risks slowing momentum of progress in state revenues and infrastructure spending, senior executives of Fitch Ratings and Moody’s Investors Service warned.

Expectations of another interest rate hike mount

A FOURTH successive tightening move may be announced by the central bank next month, a global bank said, as it sees inflation topping six percent until September.

Copper’s weakness a worrying signal for global growth

LONDON -- The plunge in the price of copper by more than 20% since the beginning of June has worried analysts who see it as a bad signal for the global economy.

DoF projects P61.3B in collections from higher sin taxes in 2020

THE DEPARTMENT of Finance (DoF) said that the government may raise an additional P61.3 billion worth of revenue in the second round of increased “sin” taxes proposed under its comprehensive tax reform program.

Starbucks boycott? Nike shutdown? China holds trade war leverage

America’s corporate bosses could be excused if they don’t agree with President Donald Trump’s boasts that a trade war is “ easy to win.”...

China, unsure of how to handle Trump, braces for ‘new Cold...

Perhaps nowhere outside America’s heartland is Donald Trump given more credit than in Beijing. In government offices and think tanks, universities and state-run newsrooms, there...

China-US to resume low-level talks in bid to resolve trade war

China will dispatch Vice Commerce Minister Wang Shouwen to the U.S. for low-level trade talks in late August, the first official exchanges since earlier...

Calm comes to emerging assets as analysts reassess Turkey woes

The initial panic over Turkey’s market meltdown has eased. The lira, the world’s worst performer this year, and South Africa’s rand led the advance...

Rice stocks decline as of July 1

RICE STOCKS as of the start of July were estimated at 1.99 million metric tons (MT), down year-on-year and month-on-month, data from the Philippine Statistics Authority (PSA) showed.

Gatchalian files resolution on evaluating federalism’s economic implications

Senator Sherwin T. Gatchalian has filed a resolution urging his colleagues to look into the economic implications of the proposed shift to a federal...

Qatar set to be outstripped as world’s richest place by Macau

Qatar is on track to lose its status as the richest place in the world to the Chinese gambling enclave of Macau. The global casino...

BSP raises policy rates anew

The Bangko Sentral ng Pilipinas (BSP) raised rates anew on Thursday, Aug. 9, in a more aggressive move as expected, to arrest faster inflation...

Biggest rate hike in a decade on the cards for the...

The question facing policy makers in the Philippines is not whether to raise interest rates for a third time in a row, but by...

Factory output growth slows in June

The country's manufacturing activity sustained its double-digit growth pace for the sixth straight month in June, the government reported this afternoon. Preliminary results from the...

Inflation up by 5.7% in July

Inflation continued to accelerate in July, the government reported this morning. Preliminary results from the Philippine Statistics Authority (PSA) showed the prices of widely used...

How much have prices gone up for poor families?

Second-quarter inflation, as reflected in goods and services widely used by low-income households, rose to 6.5%, its highest level in almost four years, led...