PHL may see worst slump in ASEAN
PHILIPPINE gross domestic product (GDP) is expected to shrink by 8% this year, the steepest projected decline among economies in Southeast Asia, according to Fitch Ratings.
Private sector asks gov’t to detail recovery plan
THE private sector is asking the government for a six-month plan detailing how the Philippines can bounce back from the devastating impact of the coronavirus disease 2019 (COVID-19).
Philippines unlikely to have nuclear power plant by 2029
THE Philippines is unlikely to have an operational nuclear power plant over the next decade despite the government’s move to revive the sector and...
PERA pushed as state pensions not enough for retirees
THE government targets to have five million Filipinos with personal equity and retirement accounts (PERA) in the next five years, as it launched an online platform to make it easier for them to invest.
Manufacturers seek tighter trade laws
MANUFACTURERS are asking the government to review trade laws to protect local industries from the influx of “cheaper and substandard” imported goods into the Philippines.
BSP sees loan growth to pick up by yearend
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno expects credit growth to pick up by yearend, as consumer and business confidence is restored with easing lockdown measures over the next few months.
Coronavirus outbreak halts live sports events, silences wild fan cheers
KIM REMOLINO, a silver medalist triathlete in the Southeast Asian (SEA) Games last year, has had to train on a home treadmill for months after Manila and other provinces were locked down in mid-March to contain a coronavirus pandemic.
Exports recovery may take 2 years
PHILIPPINE EXPORTS’ return to growth could be as far away as 2022 after the effects of the pandemic caused a slowdown in operations that will likely prompt the government to revise its export targets for the next few years.
Government borrowings hit P1.9 trillion as of July
THE government raised P1.857 trillion from both domestic and foreign lenders in the first seven months of the year, as it borrowed more to fund the growing expenses related to the pandemic.
BIR launches voluntary assessment program as it cuts audits amid pandemic
THE Bureau of Internal Revenue (BIR) is offering a program to allow taxpayers to voluntarily settle their tax arrears, as the agency seeks to reduce its audit investigations amid the coronavirus disease 2019 (COVID-19) pandemic.
BSP shifts to active gold trading
THE central bank’s decision to go into active gold trading is seen as a timely move, as the price of the safe-haven asset has risen amid the pandemic, analysts said.
August inflation eases to 3-month low
By Marissa Mae M. Ramos, Researcher and Beatrice M. Laforga, Reporter
Inflation eased to a three-month low in August amid improved supply as the economy...