PHL economy seen as region’s laggard on virus spike, slow vaccinations
THE Philippines’ economic recovery from the coronavirus pandemic will lag behind its Asia-Pacific neighbors, as coronavirus disease 2019 (COVID-19) infections continue to spike and vaccines remain in short supply, Moody’s Analytics said.
Philippines touted as 2nd best investment destination for renewables in SE Asia — report
THE Philippines is the second best investment destination for renewable energy (RE) in Southeast Asia with resources that can generate up to 3,000 gigawatts (GW), and a “highly-liberalized” active spot market, according to a report from HSBC Global Research.
High food prices to continue driving inflation — NEDA
INFLATION will remain elevated in the coming months as food prices stay high, according to the National Economic and Development Authority (NEDA), which is supporting the reduction of tariffs to boost local food supply.
Gov’t debt repayments rise to P253 billion
THE National Government’s debt service bill jumped by 42.67% to P253.1 billion in the first two months of the year, the Bureau of the Treasury (BTr) reported.
Palace expects $4B in mining investments after ban lifted
THE Philippines is expecting about $4 billion in capital investments from three major mining projects, after President Rodrigo R. Duterte lifted last week the nine-year moratorium on new mineral agreements.
PHL has fiscal space to aid recovery — IMF
THE Philippines still has fiscal space which it could utilize to support its recovery from the coronavirus-induced crisis, the International Monetary Fund (IMF) said.
Government agencies’ cash usage slows in Q1
THE rate at which government agencies use their cash allocations slipped in the first quarter, which an expert said may reflect the slow rollout of coronavirus vaccines and pandemic relief measures.
BSP requires banks to report ‘reputational’ risks
Philippine lenders should be on guard against any “reputational risks” that could potentially impact their financial standing and affect stakeholder confidence, the Bangko Sentral...
Citigroup to exit retail banking in Philippines
Citigroup, Inc. will leave its consumer banking business in 13 Asia-Pacific markets, including the Philippines, but continue to maintain a corporate banking presence.
“As a...
Philippines commits to 75% reduction in greenhouse gas emissions by 2030
By Angelica Y. Yang, Reporter
President Rodrigo R. Duterte has approved the Philippines' first Nationally Determined Contribution (NDC) which aims to reduce greenhouse gas (GHG) emissions by 75% by...
Moratorium on mining projects lifted
PHILIPPINE President Rodrigo R. Duterte finally lifted the nine-year moratorium on new mineral agreements, in a bid to boost revenues as the country recovers from the pandemic.
Cash remittances growth fastest in five months
MONEY sent home by overseas Filipino workers (OFWs) in February jumped by its quickest pace since September last year, as key economies began reopening after the widespread rollout of coronavirus disease 2019 (COVID-19) vaccines.