Cash remittances up 3.5% in January
MONEY SENT HOME by overseas Filipino workers (OFWs) rose by 3.5% annually in January, as they sought to help their families cope with the rising cost of living.
Franchising sector eyes 12-15% growth this year
THE COUNTRY’S franchising sector is expected to grow by 12% to 15% this year, as homegrown brands continue to expand here and abroad, the...
House approves on 2nd reading a bill requiring REITs to reinvest in PHL
THE HOUSE of Representatives on Wednesday approved on second reading a bill requiring real estate investment trusts (REITs) to reinvest the proceeds of their...
NCR construction material prices rise at slower pace in February
WHOLESALE PRICES of building materials in the Metro Manila rose at the slowest annual pace in six months in February, preliminary data from the...
Traders herald end to rate hikes after US bank run
GLOBAL BOND MARKETS have declared that the steepest global monetary tightening campaign in a generation has nearly run its course.
In the span of days,...
Trade gap balloons to $5.74B in Jan.
THE PHILIPPINES’ trade-in-goods deficit widened to a five-month high in January as exports posted their steepest drop in over two years, the Philippine Statistics Authority (PSA) reported on Tuesday.
PHL banks have no exposure to Silicon Valley Bank — BSP
PHILIPPINE banks have no reported exposure to the collapsed Silicon Valley Bank (SVB), the central bank governor said on Monday.
Banks’ foreign currency deposit units’...
BIR says personal income tax cuts to help boost consumer spending
THE Bureau of Internal Revenue (BIR) said it expects any revenue losses from the personal income tax cuts this year to be offset by...
Work on Bataan-Cavite bridge set to start this year
THE DEPARTMENT of Public Works and Highways (DPWH) will pursue more than 70,000 projects worth about P890 billion this year, including a bridge project...
New vehicle sales up 27% in February
NEW VEHICLE SALES rose by 27.2% year on year in February, bolstering the industry’s hopes it can exceed pre-pandemic sales levels this year.
A joint...
More Fed hikes may put pressure on peso
FURTHER TIGHTENING by the US Federal Reserve may put pressure on the Philippine peso and cause potential fund outflows in the coming months, analysts said, adding that more rate hikes from the Bangko Sentral ng Pilipinas (BSP) could help cushion the blow.
Marcos: Systems vs cyberattacks on energy infrastructure needed
THE GOVERNMENT needs to develop systems to deter possible cyberattacks on the Philippines’ energy infrastructure, President Ferdinand R. Marcos, Jr. said on Monday.
“We...