Home Tags Economy

Tag: economy

Sugar groups get House backing vs liberalization of sugar imports

SUGAR GROUPS fighting against the liberalization of sugar importation have gained support from the House of Representatives (HoR) as legislators passed a resolution earlier this week condemning the Department of Finance (DoF)’s deregulation plan.

Faster spending, consumption to boost economic growth

FASTER state spending, slower inflation and robust overseas remittances are seen to boost economic growth this semester, according to the latest joint assessment by the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P).

Inflation eases in Q2, seen slowing further

THE BANGKO SENTRAL ng Pilipinas (BSP) said inflation settled at the midpoint of its target band in the second quarter, driven by improved domestic food supply conditions.

Inflation slowest in almost two years in June

INFLATION eased in June to post its slowest reading in almost two years, the Philippine Statistics Authority (PSA) reported on Friday, giving more room for the central bank to continue loosening monetary policy.

Factory output continues to decline

FACTORY OUTPUT posted its sixth consecutive month of decline in May albeit at a slower pace, the Philippine Statistics Authority (PSA) reported on Friday.

Agriculture trade deficit widens in Q1

THE trade deficit in agriculture commodities widened in the first quarter, the Philippine Statistics Authority (PSA) said.

Duterte to woo Thai businessmen at ASEAN Summit

PRESIDENT Rodrigo R. Duterte is set to meet with Thai business leaders on the sidelines of the 34th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok and invite them to do business in the Philippines, Trade Secretary Ramon M. Lopez said on Friday.

US-China tensions to push ASEAN to fast-track RCEP

THE TRADE WAR between the United States and China will compel member-states of the Association of Southeast Asian Nations (ASEAN) to fast-track negotiations on the Regional Comprehensive Economic Partnership (RCEP) in order to “isolate” the region from the impact of the tensions, Trade Secretary Ramon M. Lopez said on Friday.

Israeli envoy explores cooperation opportunities in tech, agri during Iloilo visit

ILOILO CITY — Israeli Ambassador to the Philippines Rafael Harpaz visited Iloilo earlier this week to explore cooperation opportunities in line with its goal to strengthen ties with the Philippine through local partnerships in the regions.

PHL, Mexico to wrap up bilateral negotiations

THE PHILIPPINES and Mexico are set to conclude negotiations for agreements on air services, disaster risk management, and the establishment of a Joint Economic Committee (JEC), according to the Department of Foreign Affairs (DFA).

Yields on one-week term deposits drop

YIELDS on the one-week term deposits eased on Wednesday as the central bank lowered the volume of its facility to a record low.

Risks to inflation “evenly balanced”

INFLATION RISKS are seen “evenly balanced” this year, even with the rise in prices expected to settle firmly within the government’s target, the Bangko Sentral ng Pilipinas (BSP) said.

Reserves climb further in March

GROSS international reserves (GIR) rose further in March for the fifth straight month, the central bank said on Friday, enjoying a boost from higher dollar deposits and income from offshore investments.

BSP signs currency settlement deals with ASEAN central banks

THE BANGKO SENTRAL ng Pilipinas (BSP) has forged agreements with the central banks of Indonesia, Malaysia and Thailand as they look to set up direct settlement systems across currencies.

Inflation for low-income households eases further in January

INFLATION, as experienced by low-income households, was lower in January as prices of food and utilities eased further, the Philippine Statistics Authority (PSA) reported on Friday.

Japan pledges 3.2-B yen in loans for Mindanao projects

JAPAN has pledged additional grants for the Philippines following a joint meeting held in Osaka this week, which include funding for train simulators as well as projects for healthcare and peace efforts in Mindanao.

BSP to simplify licensing requirements for e-payments firms

THE CENTRAL BANK will soon allow banks and other financial firms looking to offer basic digital financial services to start operations without securing prior approval from the regulator, amid an industry push towards e-payments.

ADB raises P5.22B via peso bonds for PHL projects

THE ASIAN Development Bank (ADB) raised over P5 billion in local currency bonds offered to foreign investors, with the funds meant to support projects in the Philippines.

From the Front Page: PHL to outpace China’s GDP growth

Your weekly recap of BusinessWorld news.

Economists see RRR cuts as inflation eases

THE CENTRAL BANK may now proceed with planned cuts in bank reserves next year as inflation is sure to go down, bank analysts said.

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.

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...