Philippines to be SE Asia’s worst performer this year
THE PHILIPPINES is seen to post the worst economic performance in Southeast Asia this year, according to the Asian Development Bank (ADB) which slashed its growth forecast anew as household consumption and investments remained sluggish amid the coronavirus pandemic.
Foreign trade decline continues in October
PHILIPPINE international trade performance shrank once again in October as imports declined for the 18th straight month and exports returned to negative territory.
Bad loans ratio edges up in Oct.
SOURED LOANS in lenders’ portfolios continued to pile up for the ninth straight month, reflecting the grim impact of the pandemic on businesses and consumers.
Q3 foreign pledges drop from year-ago levels
By Marissa Mae M. Ramos, Researcher
INVESTMENT PLEDGES made by foreign companies in the third quarter rebounded from a nine-quarter low in the second quarter,...
Health sector gets 2021 budget boost
THE BICAMERAL Conference Committee on Wednesday approved next year’s P4.5-trillion national budget, which is aimed at supporting economic recovery after a record recession due to the coronavirus disease 2019 (COVID-19) pandemic.
Jobless rate likely to remain high until 2022
THE GOVERNMENT now expects the unemployment rate to average 7-9% by 2022, as the coronavirus pandemic triggered massive layoffs.
Power rates go down in December
HOUSEHOLDS in Metro Manila can expect to see a P7 reduction in their power bills this month, after Manila Electric Company (Meralco) on Wednesday announced a cut in overall rates due to lower demand in the Luzon grid.
Senate panel endorses amendments to AMLA
THE SENATE Committee on Banks and Financial Intermediaries on Wednesday endorsed for plenary action the measure strengthening the country’s regulations to counter money laundering.
WB sees fragile, uneven PHL recovery
THE WORLD BANK (WB) is expecting the Philippine economy to miss the government’s growth targets for the next two years, amid a slow and fragile recovery from the coronavirus pandemic.
Gov’t hikes budget for infrastructure program until 2022
THE GOVERNMENT increased its target spending for infrastructure projects through 2022 to support economic recovery, documents from the Development Budget Coordination Committee (DBCC) showed.
‘Sin’ tax collection exceeds revised target in October
TAXES COLLECTED from so-called “sin” products in October surpassed the target for the month, due to a pick up in sales of tobacco and alcoholic drinks, data from the Department of Finance (DoF) showed.
Commission to assess effectivity of safeguard duties on steel bars
THE TARIFF commission will assess the impact of safeguard duties imposed on steel angle bars and newsprint on the domestic industry, after the expiration of these safeguard measures.