Renewable energy could cut electricity rates by 30% — report
HEAVY RELIANCE on imported fossil fuels, high financing costs and uncompetitive market structures have contributed to make electricity prices in the Philippines among the highest in Southeast Asia, according to a report of a global research institute.
Foreign direct investments continue to drop in October
FOREIGN investments to the Philippines sustained a three-month slide in October, the central bank reported on Friday, casting doubt on forecasts of another banner year amid a slump in sentiment.
Nov. trade deficit balloons to record
THE COUNTRY’S trade-in-goods deficit further widened to a record high in November as growth in merchandise imports continued to outpace the rise in exports, the Philippine Statistics Authority (PSA) reported on Tuesday.
PHL debt is still manageable — WB
THE PHILIPPINES’ outstanding debt remains manageable despite breaching the internationally accepted sustainable threshold, the World Bank (WB) said, but stressed the need for a solid fiscal consolidation plan and high economic growth.
US firms to invest over $1B in PHL
MAJOR US COMPANIES are set to announce over $1 billion worth of investments in the Philippines, US Commerce Secretary Gina Raimondo said on Monday.
“US...
DBM sets project spending priorities
THE DEPARTMENT of Budget and Management (DBM) will only prioritize new “implementation-ready” infrastructure projects and social services programs for funding under the 2019 national...
Nearly 68M Asians plunged into extreme poverty in 2022
ALMOST 68 million people in developing Asia were pushed into extreme poverty last year, as many people struggled with the impact of the coronavirus pandemic and rising cost of living, the Asian Development Bank (ADB) said.
DoF to draft tax amnesty bill in early 2018
THE GOVERNMENT will prepare early next year a draft tax amnesty measure, the Department of Finance (DoF) said.
“We’ll start it next year. Early, I...
Inflation may breach BSP target by 2nd half
INFLATION could breach the central bank’s 2-4% target in the second half due to the surge in global oil prices, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Tuesday.
Residential property prices rise 14% in Q2
RESIDENTIAL PROPERTY prices in the second quarter rose at the fastest pace in three years amid high interest rates and rising inflation.
Data released by...
BSP under new chief to stay course on reforms
By Melissa Luz T. LopezSenior Reporter
THE BANGKO SENTRAL ng Pilipinas (BSP) will stay the reform course in the face of rising global interest rates...
Philippines confident in attaining lower end of GDP target for 2023
The Philippines is confident it can still hit the lower end or stay in the vicinity of its 6%-7% gross domestic product growth target...