BSP raises P110B at auction
The Philippine central bank fully awarded the short-term debt it offered on Friday as rates dipped after last-minute changes to the country’s lockdown status.
The Bangko Sentral ng Pilipinas (BSP) raised P110 billion from 28-day...
Meralco raises September rates
Manila Electric Co. (Meralco) has raised power rates this month, citing higher generation charges.
In a statement on Friday, the company said the overall rate for a typical household this...
Trade deficit balloons to $3.29 billion
THE COUNTRY’S trade-in-goods deficit widened in July as merchandise import growth outpaced the increase in exports, the Philippine Statistics Authority (PSA) reported on Thursday.
Foreign investments bounce back in Q2
FOREIGN INVESTMENT commitments bounced back in the second quarter, ending five straight quarters of decline, signaling country’s attractiveness after the passage of the law that gradually trims corporate income tax.
PHL tycoons’ wealth surges by 30% amid pandemic
THE 50 RICHEST families and individuals in the Philippines saw a “robust recovery” as their collective wealth surged by 30% to $79 billion (P3.94 trillion) this year even as the pandemic continued, according to Forbes.
Manufacturing output expands for 4th straight month
THE COUNTRY’S factory output expanded for the fourth straight month in July, the Philippine Statistics Authority (PSA) reported on Thursday.
DoF, NEDA back looser lockdown
ECONOMIC MANAGERS said the government should loosen lockdown restrictions and let vaccinated Filipinos move more freely, a day after the Inter-Agency Task Force (IATF) for pandemic response deferred a plan to ease lockdowns and instead tightened quarantines in the capital region.
Businesses criticize gov’t for lockdown policy flip-flop
UNSTABLE government policies such as the last-minute decision to postpone the relaxation of quarantine curbs in Metro Manila is likely to further dampen business and consumer confidence, business leaders and economists said on Wednesday.
Exporters seek refund after DENR relaxes wastewater standards
ELECTRONICS EXPORTERS fined for noncompliance with wastewater standards are now asking the government for reimbursements after the rules were relaxed.
Senators ask agencies to ramp up spending
SEVERAL SENATORS on Wednesday urged government agencies, especially those implementing infrastructure projects, to boost spending to help the economy bounce back from the pandemic, upon learning that less than half of the allocated budgets have not been disbursed.
Aug. inflation fastest in over 2 years
THE OVERALL year-on-year increase in prices of widely used goods accelerated to its fastest pace in 32 months in August, driven by higher food and utility prices amid the stricter lockdown, the statistics agency said on Tuesday.
Unemployment rate eases in July, but job quality remains a concern amid pandemic
THE NUMBER of jobless Filipinos declined to 3.073 million in July, but job quality remains a concern as more employed Filipinos are still seeking additional work, the Philippine Statistics Authority (PSA) reported on Tuesday.