Duterte signs memo to boost financial inclusion

Philippine President Rodrigo R. Duterte's office on Friday released a memorandum circular directing government bodies to support the implementation of a national strategy boosting...

BSP hikes key rate on inflation risks

THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday raised its key interest rate for a second straight meeting to cool inflation, which is now seen to quicken to 5% this year.

NG budget deficit narrows in May

THE NATIONAL Government’s (NG) budget deficit narrowed in May as revenues grew by double digits and spending contracted during the height of the election period, the Bureau of the Treasury (BTr) reported on Thursday.

Ex-PAL president tapped to head Transport dep’t

FORMER Philippine Airlines (PAL) President and Chief Operating Officer Jaime J. Bautista has been tapped by President-elect Ferdinand R. Marcos, Jr. to head the Department of Transportation (DoTr).

Balisacan seeks better coordination with Congress on priority measures

THE MARCOS administration’s economic team wants to have better coordination with the incoming 19th Congress on priority bills and the 2023 national budget, Socioeconomic Planning Secretary-designate Arsenio M. Balisacan said.

Peso slumps to lowest since 2005

THE PHILIPPINE PESO on Wednesday slumped against the US dollar, closing at its lowest value since November 2005, amid the Bangko Sentral ng Pilipinas’ (BSP) signals of gradual policy tightening.

PHL to reach ‘upper-middle’ status by 2024, Balisacan says

THE PHILIPPINES is likely to achieve its goal of becoming an upper middle-income economy by 2024, incoming Socioeconomic Planning Secretary Arsenio M. Balisacan said.

Locked-down Filipino college graduates face gloomy COVID-19 labor market

JEROEN O. MANAHAN, 21, will get his Bachelor’s degree in business administration and management this October after taking classes online amid the coronavirus pandemic.

PHL withdraws from EITI over ‘biased’ assessment

THE PHILIPPINES has withdrawn from a global initiative on extractives transparency over the latter’s “subjective, biased and unfair” assessment process, Finance Secretary Carlos G. Dominguez III said.

May BoP deficit widens to $1.6 billion

THE PHILIPPINES posted its largest monthly balance of payments (BoP) deficit in 15 months in May, mainly due to the National Government’s foreign debt payments, the central bank said on Tuesday.

BSP unlikely to OK more digital banks in near term

IT MAY TAKE two to three years for the Bangko Sentral ng Pilipinas (BSP) to accept new applications for digital banks as it still needs to boost its capacity to regulate these kinds of lenders, according to its incoming chief.

Philippine tourism industry seen to reach pre-pandemic levels by 2024 

THE DOMESTIC tourism sector is expected to reach pre-pandemic levels by 2024, although near-term challenges such as high inflation may affect demand, according to industry stakeholders. 
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