Philippines has most FX reserve cover in emerging Asia, ANZ says
THE PHILIPPINES holds the biggest foreign exchange (FX) cover among Asia’s biggest emerging economies, suggesting authorities have sufficient firepower to defend the peso from breaching P60 per dollar, according to Australia & New Zealand Banking Group Ltd. (ANZ).
PHL shares decline as Fed delivers big rate hike
SHARES declined on Thursday after the US Federal Reserve delivered another jumbo rate hike, with the Bangko Sentral ng Pilipinas (BSP) expected to match the move at its own meeting this month.
Peso drops further after Fed tightening
THE PESO weakened further against the dollar on Thursday after the US Federal Reserve delivered a fourth straight 75-basis-point (bp) rate increase to rein in inflation.
Marcos commits to more infra after subway contract signing
PRESIDENT Ferdinand R. Marcos, Jr. said he will pursue more major infrastructure projects after witnessing the signing of two contracts covering the construction of the Metro Manila Subway.
Sugar repricing awaiting outcome of talks; DA may consider SRP range of P85-90/kg
THE new suggested retail price (SRP) for sugar has not yet been set pending the completion of consultations, though the Department of Agriculture (DA) cited a possible range of P85-90 per kilogram.
Palace adviser wants vaccines-for-pay led by private hospitals
PRIVATE hospitals need to be deputized to procure and administer the new class of bivalent vaccines for recipients deemed non-priority who are willing to pay, according to Presidential Adviser Jose Maria A. Concepcion III.
European hiring of seafarers ongoing amid concerns over training standards
THE Transportation department said on Thursday that European ship operators continue to hire seafarers from the Philippines even amid concerns raised about their standard of training.
October factory output growth slows
FACTORY OUTPUT in the Philippines expanded at a slower pace in October, reflecting a modest uptick in new orders despite elevated inflation and supply chain disruptions, S&P Global said on Wednesday.
China slowdown likely to send significant shock to Philippines and its peers
SLOWER GROWTH in China may send a “significant shock” to the Philippines and other Asian countries by causing a decline in investments and business confidence, according to Moody’s Investors Service.
UNDP zeroes in on human development to-do’s for PHL
THE PHILIPPINES should focus on critical areas of human development such as climate-resilient infrastructure and education to help boost its recovery from the coronavirus disease 2019 (COVID-19) pandemic, a United Nations Development Programme (UNDP) official said.
Entrepreneurial CEO
AT A YOUNG AGE, Mica F. Tan already knew what she wanted to become — a businesswoman. Seeing her mother go about her jewelry business, the young Ms. Tan knew she could do the same. So she spent her time selling little treats at the hospital where her father, an oncologist, would do his rounds.
Peso sinks ahead of Fed decision
THE PESO weakened versus the dollar on Wednesday on expectations of another aggressive rate hike from the US Federal Reserve.