Gross borrowings drop 33% as of end-October
GROSS BORROWINGS by the National Government (NG) declined by 32.7% year on year as of end-October, preliminary data from the Bureau of the Treasury (BTr) showed.
Medalla voices caution over plans to create $4.9B sovereign fund
Central bank governor Felipe M. Medalla on Friday voiced caution over a legislative proposal to create a sovereign wealth fund overseen by President Ferdinand...
BSP to hike interest rates by 25 or 50 bps in Dec.
MANILA — The Philippine central bank will hike interest rates this month, though the monetary board is likely to be split over whether to...
Factory activity inches higher in Nov.
FACTORY ACTIVITY in the Philippines expanded for a tenth month in a row in November, although jobs fell for the first time since March, a survey by S&P Global showed on Thursday.
WB sees slower growth in PHL remittances in 2023
REMITTANCE INFLOWS to the Philippines are expected to rise by 3.6% this year, the World Bank (WB) said, but it sees growth slowing in 2023 as a looming global economic slowdown is likely to weigh on overseas Filipino workers’ (OFWs) ability to send more money home.
Foreign chambers targeting $128-billion investments by 2030
THE JOINT Foreign Chambers of the Philippines (JFC) is now targeting to generate $128 billion in foreign direct investments (FDIs) in the Philippines by 2030.
Gov’t urged to extend devolution transition for LGUs
LOCAL GOVERNMENT units (LGUs) should be given more time for the smooth transition of devolved functions from the National Government (NG) agencies, according to a report.
BSP sees Nov. inflation at 7.4-8.2%
HEADLINE INFLATION may have settled within the 7.4% to 8.2% range in November due to higher electricity rates and soaring prices of agricultural commodities, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday evening.
PHL plans retail dollar bond issue in 1st quarter
THE GOVERNMENT is planning to launch a US dollar retail Treasury bond issue in the first quarter of 2023, Finance Secretary Benjamin E. Diokno said on Wednesday.
Lending growth in October fastest in nearly 4 years
DESPITE RISING interest rates, bank lending expanded in October at the fastest pace in nearly four years, the Bangko Sentral ng Pilipinas (BSP) said.
Tech to drive home-sharing business after Airbnb survives COVID
REGINA G. DE DIOS, a 58-year-old Filipina entrepreneur who rents out condominium units to tourists as an Airbnb host, finds the business “financially and socially rewarding.”
IMF sees need for further tightening
THE BANGKO SENTRAL ng Pilipinas (BSP) should continue tightening monetary policy until 2023 to anchor inflation expectations and support the peso, an International Monetary Fund (IMF) official said.