Stock exodus breather doesn’t mean worst is over
LAST WEDNESDAY marked the first day of foreign investments into Philippine equity funds after a record streak of withdrawals. But overseas traders remain skeptical.
Philippines slips in Doing Business rank
THE PHILIPPINES managed to improve its score in the World Bank’s annual report that tracks economies’ competitiveness in ease of doing business, but its rank slipped as reforms to streamline transactions and strengthen stakeholder rights were offset by increased layers for import inspection and higher tax registration costs.
11th Foreign Investment Negative List bares ‘modest’ gains in easing restrictions
MALACAÑANG on Wednesday finally issued the government’s closely watched list of sectors in which foreign participation is regulated, showing sectors where restrictions have eased including teaching in “higher education levels.”
Central bank sees inflation easing from October
INFLATION likely eased in October, coming from a nine-year high the preceding month, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday, suggesting the possible start of a downtrend as higher oil prices were offset by lower food and electricity costs.
Economic surveillance group maintains expectation of ‘robust’ Philippine growth amid risks
PHILIPPINE economic growth prospects remain strong despite inflation challenges and external headwinds, the ASEAN+3 Macroeconomic Research Office (AMRO) said in a statement late Tuesday that showed projections were maintained from a previous report.
Transport dep’t seeks jeepney fare hike review
THE Department of Transportation (DoTr) will ask the Land Transportation Franchising and Regulatory Board (LTFRB) to review the jeepney fare hike approved two weeks ago in the face of receding world crude oil prices.
Another policy rate hike ‘on the table’
THE BANGKO SENTRAL ng Pilipinas (BSP) may still gun for another interest rate hike next month, a senior monetary official said even as he noted that inflation could clock in slower from here on.
Q3 GDP likely grew faster than 6% — report
ECONOMIC GROWTH likely picked up last quarter from the preceding three months’ disappointing six percent, analysts of First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in their latest joint assessment, even as they still slashed their full-year 2018 projection.
Gov’t aims to complete Marawi rehabilitation in three years
THE GROUNDBREAKING ceremony for the rehabilitation of war-torn Marawi City finally pushed through on Oct. 30, with the Task Force Bangon Marawi (TFBM) head promising completion by 2021.
Banks grow realty risk at slower clip
BIG BANKS still have room to expand real estate lending as latest exposure levels remain well below the 20% limit set by the Bangko Sentral ng Pilipinas (BSP), with credit growth slowing from a year ago.
Business watches as Duterte orders military ‘takeover’ at Customs bureau
PRESIDENT Rodrigo R. Duterte is putting soldiers in key positions in the Bureau of Customs, which has reeled from revelations of a record estimated P11 billion worth of methamphetamine that slipped through the country’s ports.
NEDA body approves Marawi rehab work
THE NATIONAL Economic and Development Authority’s (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved new road and drainage projects for the rehabilitation of Marawi City, as well as the next phase for the flood management project in Metro Manila and repair of roads in other conflict-affected areas in Mindanao.