BSP raises rates by 50 bps, signals more tightening
THE BANGKO SENTRAL ng Pilipinas (BSP) on Thursday raised its benchmark interest rate to its highest in 14 years, and signaled more tightening albeit...
Cash remittances rise to 3-month high in Oct.
By Keisha B. Ta-asan, Reporter
MONEY SENT HOME by overseas Filipino workers (OFWs) rose by 3.5% in October, with migrants taking advantage of the strong...
PHL bags P6B in investments from Unilever, European firms
THE PHILIPPINES has secured over P6.2-billion worth of investment pledges from four European firms, whose executives met with President Ferdinand R. Marcos, Jr. in Brussels, according to the Presidential Palace.
PHL growth likely 2nd fastest in SE Asia
THE PHILIPPINES is expected to be the second fastest-growing economy in Southeast Asia this year and in 2023, despite global headwinds, according to the...
Vehicle sales post double-digit growth for 9th straight month
THE AUTO INDUSTRY continued its strong recovery, posting double-digit sales growth for the ninth straight month in November.
A joint report by the Chamber of...
SC junks petition seeking to void Kaliwa Dam loan deal
By John Victor D. Ordoñez, Reporter
THE SUPREME COURT (SC) junked a petition that sought to declare as illegal and to void the government’s loan...
Maharlika Fund needs to follow strict standards — IMF
By Keisha B. Ta-asan, Reporter
THE PROPOSED Maharlika Investment Fund (MIF) should adhere to high standards of governance and transparency, an International Monetary Fund (IMF)...
Philippines wealth fund won’t affect BSP mandate, Medalla says
The Philippine central bank’s ability to rein in inflation will remain unhampered despite a proposal for the monetary authority to contribute to a wealth...
Trade gap narrows to 17-month low
THE PHILIPPINES’ trade deficit stood at $3.31 billion in October, the narrowest gap in 17 months, as exports growth continued to outpace imports, the...
PEZA-approved investments drop 11.5% as of Nov.
APPROVED INVESTMENTS by the Philippine Economic Zone Authority (PEZA) dropped 11.5% in the first 11 months of 2022, but its top official is still...
Gov’t struggles with property acquisition for Manila subway
By Arjay L. Balinbin, Senior Reporter
CONSTRUCTION of the first phase of the Metro Manila subway is facing delays as the government continues to have...
Gov’t losing P250B in revenues due to illicit trade
THE PHILIPPINE government is losing at least P250-billion revenues a year due to smuggling, according to a business group.
“Smuggling is creating unfair competition for...