Factory activity picks up in January
THE Philippines’ manufacturing sector is off to a good start this year as factory activity in January improved at its strongest rate in a year, in contrast to the generally subdued performance across the Association of Southeast Asian Nations (ASEAN).
Billionaire Razon buys 25% stake in Manila Water
PHILIPPINE billionaire Enrique K. Razon, Jr. will buy a 25% stake in Ayala Corp. unit Manila Water Co., Inc. amid a government review of allegedly onerous water contracts.
Tourism industry starts counting cost of China virus outbreak
THE TOURISM INDUSTRY expects P20 billion in revenue losses as tourist arrivals from China plunge after the new coronavirus outbreak, Tourism Congress of the Philippines President Jose C. Clemente III said on Monday.
2% agri output growth achievable despite ASF
THE Department of Agriculture (DA) hopes to achieve a two percent growth in agricultural production this year despite failing to meet the target in 2019 as the African Swine Fever (ASF) outbreak is seen to continue weighing on the livestock sector.
Inflation likely quickened in January
INFLATION likely quickened further in January mainly on the back of an uptick in food prices, some supply side shocks from the Taal Volcano eruption and continued diminishing base effects, analysts said in a BusinessWorld poll, with the central bank seen easing rates this week ahead of emerging risks to prices.
Gov’t hoping talks with China could spur faster disbursement of ODA
MORE MEETINGS with the Chinese government could help address the “slow pace” of disbursement of official development assistance (ODA), a top official said.
PSA chief stands by choice of 2018 as base year for measuring GDP
THE Philippine Statistics Authority (PSA) is confident in using 2018 prices as the base for measuring the country’s gross domestic product (GDP), saying that there are no implications in doing so despite multi-year high inflation rates during that year.
BSP says January inflation likely 2.5% to 3.3%
INFLATION may have settled at 2.5% to 3.3% in January, driven by rising food and liquefied petroleum gas prices and a higher tax on tobacco products, according to the central bank.
Economy may suffer from prolonged coronavirus outbreak
PHILIPPINE economic growth is likely to take a hit from a global coronavirus outbreak, with trade and tourism bearing the brunt, according to a Union Bank of the Philippines, Inc. note.
Infra spending seen recovering
INFRASTRUCTURE spending would probably recover this year with a national budget already in place, after lagging in the 11 months through November, the Budget department said on Thursday.
BSP eyes at least 50 bps policy rate cuts this year
THE CENTRAL BANK is still looking to cut rates by at least 50 basis points (bps) this year, its chief said on Thursday.
Virus outbreak to have short-term effect on tourism sector — Pernia
THE NOVEL CORONAVIRUS (2019-nCoV) outbreak is likely to have a short-term impact on the country’s tourism sector, according to economic managers.