BSP signals more tightening in 2023
THE BANGKO SENTRAL ng Pilipinas (BSP) signaled further tightening in 2023, as it aims to bring inflation to near 3% by the third quarter.
BoP records $756-million deficit in November
THE PHILIPPINES posted a balance of payments (BoP) deficit in November, as more dollars flowed out of the country to pay for the government’s...
Corporations face higher fines for failure to disclose beneficial ownership
CORPORATIONS that do not disclose their beneficial owners will have to pay higher penalties, as well as face nonfinancial penalties, starting next year.
The Securities...
PEZA-approved investment pledges surge this year
INVESTMENT pledges approved by the Philippine Economic Zone Authority (PEZA) more than doubled this year, thanks to several big-ticket projects.
The PEZA in a statement...
Growth may surpass target this year
THE PHILIPPINE ECONOMY likely saw strong growth in the fourth quarter, putting it on track to surpass the government’s full-year target, Socioeconomic Planning Secretary...
Agri output may expand up to 2.5% next year
THE COUNTRY’S agricultural production is expected to expand up to 2.5% in 2023, according to the Department of Agriculture (DA).
Agriculture Undersecretary Mercidita A. Sombilla...
Nigerian-related scams surged in 2020 — AMLC
NIGERIAN-RELATED cybercrimes in the Philippines surged in 2020, as syndicates took advantage of the accelerated digitalization at the height of the coronavirus pandemic, a...
Why Marcos’ sovereign wealth fund plan is controversial
THE PHILIPPINES is preparing to establish a sovereign wealth fund, a move that’s being pushed by Ferdinand R. Marcos, Jr., the late dictator’s son...
Marcos extends tariff cuts for 1 year
PRESIDENT Ferdinand R. Marcos, Jr. has given the go signal to extend the reduction in tariffs on pork, corn, rice and coal for at least one year, amid supply shortages and high inflation, Malacañang said.
Big banks post slower asset, loan growth in Q3
THE COUNTRY’S biggest banks reported slower annual growth in assets and loans in the third quarter of 2022.
The latest edition of BusinessWorld’s quarterly...
Nearly 800 IT-BPM projects endorsed to BoI
THE BOARD of Investments (BoI) said 786 information technology and business process management (IT-BPM) projects have been endorsed by the Philippine Economic Zone Authority...
Consumers more pessimistic in Q4 — BSP
CONSUMER and business sentiment declined in the fourth quarter due to elevated prices of goods, higher interest rates, and a weakening of the peso,...