Subic airport adds to infrastructure push
THE GOVERNMENT is pursuing plans to revive the Subic Bay International Airport before the second quarter of next year, the state Transport chief said in a press briefing on Wednesday where other economic managers reiterated the commitment to push major infrastructure projects despite current delays.
PHL, ADB ink MoU for 2019-2021 lending
THE GOVERNMENT and the Asian Development Bank (ADB) signed a memorandum of understanding (MoU) on June 29 for the regional lender’s $7.1-billion sovereign lending program to the Philippines for 2019–2021.
Emerging market portfolio outflows pick up in June
LONDON — Outflows of foreign investor money from emerging economies accelerated in June as markets were buffeted by trade tensions, higher borrowing costs and other headwinds, according to data from Institute of International Finance (IIF).
China presses Europe for anti-US alliance on trade
BRUSSELS/BERLIN — China is putting pressure on the European Union (EU) to issue a strong joint statement against President Donald Trump’s trade policies at a summit later this month but is facing resistance, European officials said.
At least 6.5% growth ‘easily achievable’
THE PHILIPPINE ECONOMY can easily expand by at least 6.5% over the next few years on robust investments and consumer spending, analysts at S&P Global Ratings said, adding that sound policies and the infrastructure push should help lift growth prospects.
BSP, big banks firm up moves vs cyber threats
BIG BANKS are teaming up for an industry-wide monitoring scheme for cyber breaches just as the Bangko Sentral ng Pilipinas (BSP) is set to impose a one-day reporting period for such incidents.
Finance dep’t estimates 4.9% June inflation
THE DEPARTMENT of Finance (DoF) expects that inflation in June quickened further to a fresh six-and-a-half year high as seasonal rains pushed vegetable prices higher and households spent on education-related items as the new school year began.
June factory growth buoys Q2 reading
IMPROVEMENT in manufacturing activity eased in June from the preceding month as increases in output and new orders ebbed, according to the latest survey IHS Markit conducted for Nikkei, Inc. that nevertheless showed last month’s “solid” growth pushing the second quarter’s average Purchasing Managers’ Index reading higher than that of January-March.
Customs tops June goal as most ports perform
THE BUREAU of Customs (BoC) collected P50.139 billion in June — 41.6% more than the P35.417 billion recorded a year ago and 4.9% above its P47.797-billion target last month — as most of its port collectors exceeded their goals.
Gov’t vows fiscal discipline as it widens programmed budget deficit for 2019
THE DEVELOPMENT Budget Coordination Committee (DBCC) on Monday reiterated the government’s commitment to fiscal discipline as it adjusted key economic assumptions for the proposed 2019 spending plan.
Food, oil to stoke June inflation
INFLATION likely clocked in faster in June on the back of rising food and oil prices coupled with a weaker peso, economists said in a BusinessWorld poll, with some noting that another rate hike may still be on the table for the central bank to temper prices.
Economic managers to review targets, assumptions for 2019 budget today
THE DEVELOPMENT Budget Coordination Committee (DBCC) will convene today to review key economic assumptions for the 2019 budget targeted to be submitted to Congress on the day of President Rodrigo R. Duterte’s third State of the Nation Address (SONA) this month.
