Year-to-date remittances grow despite Aug. decline
CASH remittances slipped in August from a year ago due to lower inflows from the Middle East, the central bank said on Monday, which could signal softer household spending in the third quarter.
Emerging economies try to contain capital outflows
NUSA DUA, INDONESIA -- After suffering months of capital outflows, policy makers from emerging markets attending International Monetary Fund (IMF)-World Bank meetings in Indonesia had a message for leading economies: current monetary and trade policies risk undermining us all.
Oil tax hike suspension looms
PRESSURE is building on the Executive and on Congress for suspension of an oil excise tax hike set in January, which a Finance official said will likely happen given current world crude price forecasts.
IMF: PHL robust for rate hikes, trade gap
THE PHILIPPINE ECONOMY is strong enough to cope with rising interest rates and a growing external trade gap, the International Monetary Fund (IMF) said last weekend.
DoF mulls catastrophe bonds of WB
THE PHILIPPINES is considering participation in the World Bank’s catastrophe (Cat) bonds to support financing of disaster risk management, the Department of Finance (DoF) said in a statement over the weekend.
IMF slashes 2019 Philippine growth forecast as well
THE INTERNATIONAL MONETARY FUND (IMF) has downgraded its economic growth forecast for the Philippines in 2019, over the worsening trade conflict between the US and China.
S&P says risk buffers sufficient for now
THE PHILIPPINES and other emerging markets have enough buffers to cushion the blow of rising interest rates, slower global growth and weaker currencies, S&P Global Ratings said.
Index tracks improved PHL human capital
THE PHILIPPINES’ human capital improved over the past six years, according to the World Bank, which said the country improved on this count better than expected though it still fell short of the regional average due to productivity gaps.
BSP ready to tighten policy again if needed
THE BANGKO SENTRAL ng Pilipinas (BSP) is ready to tighten monetary policy further to rein in prices and support the peso if needed, Deputy Governor Diwa C. Guinigundo said.
Two more tax reforms move towards final House OK
THE HOUSE of Representatives on Wednesday night approved on second reading a proposed reform that will give the government a bigger share in miners’ revenues and will standardize real property valuation and assessment by local governments.
FDI net inflows more than double in July
NET INFLOWS of foreign direct investments (FDI) more than doubled in July, marked by strong inflows for both intercompany loans and equity capital, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday.
August merchandise export growth fails to stem trade deficit
THE COUNTRY’s merchandise trade deficit lingered above the $3-billion mark for the fifth straight month this year in August as a pickup in export growth that month failed to offset a slower increase in imports, according to data the Philippine Statistics Authority (PSA) reported on Wednesday.