Economic contraction seen to be in single digits in 3rd quarter
THE COUNTRY’S economic contraction is seen to be in the single digits in the third quarter, as more sectors reopened with the easing of lockdown restrictions around the country, First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) said.
IFC eyes record investment in East Asia
THE INTERNATIONAL Finance Corp. (IFC), a member of the World Bank Group, is ramping up investments in East Asia and the Pacific economies to as much as $5 billion to help the region rebound from the pandemic and combat climate change, a top official said.
Philippines’ BBB+ rating affirmed
By Beatrice M. Laforga, Reporter
Japan-based Rating and Investment Information, Inc. (R&I) has kept its BBB+ credit rating with a stable outlook for the Philippines, citing the country’s robust...
Social-savvy nation battles coronavirus fake news
A FACEBOOK POST in the Philippines shared more than 2,000 times claimed a coronavirus strain that has killed hundreds in China and sickened thousands more is “a type of rabies.”
May FDI net inflow smallest in 4 years
MAY was marked by a net inflow of foreign direct investments (FDI) that was nevertheless the smallest in more than four years, the central bank reported on Tuesday.
Hanjin’s rehabilitation receiver resigns
HARDLY had moves to rescue debt-saddled Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Phil) begun than the rehabilitation receiver resigned last week, citing creditors’ opposition to his appointment.
PHL may benefit as firms look into reducing ‘overdependence’ on China
THE Philippines may potentially attract manufacturers who are seeking to set up shop outside of China — the epicenter of the on-going coronavirus disease (COVID-19) outbreak.
National Government debt hits record P12.09 trillion as of end-February
THE NATIONAL Government’s outstanding debt hit a record P12.09 trillion as of end-February, as domestic and offshore borrowings increased, the Bureau of the Treasury (BTr) said on Thursday.
PSE plans new financial products for 2021
THE Philippine Stock Exchange, Inc. (PSE) is eyeing to launch new financial products next year to lure foreign investors back to the local bourse.
Congress targets ratification of 2020 budget next week
THE HOUSE of Representatives and the Senate expect ratification of the proposed P4.1-trillion national budget for 2020 by next week to enable enactment before the year ends, key legislators said separately on Tuesday, while the Budget department has begun the process of crafting the 2021 spending plan.
Business groups express concern over proposed sovereign wealth fund
TWELVE BUSINESS associations and economic policy groups, including the Makati Business Club (MBC) and the Management Association of the Philippines (MAP), expressed “serious concerns and reservations” over the proposed Maharlika Wealth Fund (MWF), saying it will do more harm than good in the long run.
BSP ready to tighten policy again if needed
THE BANGKO SENTRAL ng Pilipinas (BSP) is ready to tighten monetary policy further to rein in prices and support the peso if needed, Deputy Governor Diwa C. Guinigundo said.