Philippine capital tests new lockdown strategy
THE GOVERNMENT is set to begin the pilot test of granular lockdowns in Metro Manila on Thursday (Sept. 16), as it seeks a new strategy that will revive the economy and curb the spike in coronavirus disease 2019 (COVID-19) infections.
Domestic trade of goods sees slight recovery in Q2
DOMESTIC TRADE ACTIVITY slightly bounced back in the second quarter from the previous year, albeit still lower compared with value of locally traded goods in 2019, data by the Philippine Statistics Authority (PSA) showed.
Senate approves amendments to foreign investments law
THE SENATE approved on Tuesday a bill that amends the country’s foreign investments law, a move that is expected to further open up the economy.
Gov’t readies retail dollar bond offer
THE Philippines is looking to raise at least $400 million from its first-ever retail dollar bond offering, as part of efforts to beef up state coffers for its pandemic response.
CEO confidence inches up amid coronavirus surge
ALMOST three-quarters of chief executive officers (CEOs) are confident about their organizations’ revenue growth over the next year, reflecting an improvement in their outlook even as the pandemic drags on, according to results of the PwC Philippines-Management Association of the Philippines survey.
Dollar reserves rise to seven-month high
THE country’s dollar buffers as of end-August increased to its highest level in seven months, thanks to the increase in special drawing rights (SDRs) from the International Monetary Fund (IMF).
Ruling party tensions could distract focus from economic recovery
THE internal conflict among members of ruling political party may derail the Duterte administration’s policy making and reforms in its remaining months, Fitch Solutions Country Risk and Industry Research said.
Gov’t debt service bill dips in July
THE NATIONAL Government paid P60.54 billion in debt in July, dipping from a year-ago level due to slightly lower interest and amortization payments, the Bureau of the Treasury (BTr) reported.
BSP willing to extend direct advances to NG ‘as long as necessary’
THE BANGKO Sentral ng Pilipinas (BSP) is open to extending loans to the National Government (NG) “for as long as necessary” in order to support the economy’s recovery, BSP Governor Benjamin E. Diokno said.
Export consolidators’ revenues plunge as demand from OFWs drops
EXPORT CONSOLIDATORS are losing up to 50% of revenue after the pandemic led to the repatriation of Filipino workers abroad that usually make up most of the demand.
PAL eyes court approval for additional financing
A SECOND HEARING on flag carrier Philippine Airlines, Inc.’s (PAL) Chapter 11 case in the United States has been set for Sept. 30.
June FDI bounces back
By Beatrice M. Laforga, Reporter
Foreign direct investments (FDI) rebounded in June on base effects and an improving economic landscape, according to the latest central bank data.
FDI net inflows surged...