PHL growth slows to 6.2% in 2018
THE PHILIPPINE ECONOMY expanded 6.1% in the fourth quarter at a pace slower than expectations, even as it remained above the six-percent mark, the Philippine Statistics Authority reported yesterday.
Mislatel franchise faces scrutiny
AS THE NEW MAJOR telecommunications player prepares to submit its rollout plans to the government next month, Mindanao Islamic Telephone Company, Inc. (Mislatel) is now facing questions over the validity of its franchise.
Trade tensions to dampen Asia’s prospects
AN EXPORTS SLUMP will likely carry over into 2019 and weigh down prospects for Asian economies, although a “resilient” and robust domestic economy could unlock faster growth for the Philippines, the United Nations (UN) said.
Farm output growth misses 2018 goal
FARM OUTPUT rebounded in the fourth quarter to post a slight expansion, but was not enough to push the full-year growth to reach the government’s target, according to data the Philippine Statistics Authority (PSA) released on Wednesday.
Gov’t keeps 7-8% growth target this year
THE GOVERNMENT will hold on to its 7-8% growth target this year, according to Finance Secretary Carlos G. Dominguez III who noted the Philippines has room to stand resilient despite a slowing global economy.
8 groups eye potential oil exploration areas
THE Department of Energy (DoE) has received proposals from eight entities that are planning to explore areas within the Philippines for their possible petroleum reserves under the country’s new conventional energy contracting round, an official of the agency said.
Global economy slowing but no recession seen
THE GLOBAL ECONOMY is stumbling but not falling over.
Traders to import 1.19M MT of rice
THE National Food Authority (NFA) has 180 applicants from the private sector to import 1.19 million metric tons (MT) of rice under the out-quota scheme as the government prepares to lift a cap on purchases, with its tariffication law for the staple expected to be in force “soon.”
BSP looks into data breach at Cebuana Lhuillier
THE CENTRAL bank said it is looking into the data breach which hit Cebuana Lhuillier, with an official pointing out that pawnshop firms are mandated to keep tight cybersecurity protocols in place.
Mindanao seen to grow by 7%-8% this year
DAVAO CITY -- The economy of Mindanao is forecast to grow by up to 8% this year with projects boosting agricultural output, investments in urban areas, and improved business confidence arising from the implementation of the Bangsamoro Organic Law, an official of the Mindanao Development Authority (MinDA) said.
IMF, CEOs sound warnings as leaders gather in Davos
DAVOS, SWITZERLAND -- The International Monetary Fund trimmed its global growth forecasts on Monday and a survey showed increasing pessimism among business chiefs as trade tensions and uncertainty loomed over the world’s biggest annual gathering of the rich and powerful.
S&P cuts PHL outlook on ‘carryover’ risks
WEAK EXPORTS and rising costs will likely cap growth this year, S&P Global Ratings said on Monday as it slashed forecasts anew for the Philippines.