Economic execs turn cautious on targets
THE DEVELOPMENT Budget Coordination Committee (DBCC) on Tuesday slashed economic growth and fiscal goals and raised inflation forecasts in the face of tighter credit conditions, rising oil prices and a worsening Sino-US trade row.
US, Japan, India, Australia in talks to establish alternative to China’s Belt and Road...
SYDNEY -- Australia, the United States, India and Japan are talking about establishing a joint regional infrastructure scheme as an alternative to China’s multibillion-dollar...
Expectations mount for above-4% inflation rate
THE DEPARTMENT of Finance (DoF) expects headline inflation to have breached the central bank’s full-year target last month, saying it likely picked up at...
AMLC requires firms to report even attempted suspicious transactions
THE Anti-Money Laundering Council (AMLC) has required designated non-financial businesses and professions (DNFBPs) to report all suspicious transactions, whether completed or even just an...
COVID-19 insurance claims breach P8 billion
PANDEMIC-RELATED insurance claims payouts reached P8.23 billion in the first nine months of 2021, higher than the 2020 figure, a survey from the Insurance Commission (IC) showed.
IMF slashes PHL growth outlook anew
THE International Monetary Fund (IMF) sharply cut its growth projection for the Philippines this year, after a fresh wave of coronavirus disease 2019 (COVID-19) infections slowed the economy’s recovery.
Revival of mining industry pushed
THE Finance department is looking to revive the mining industry through the sale of state mining assets and the passage of a long-awaited tax measure, in order to create jobs and generate revenues amid the economic slowdown.
Creation of a child trust fund proposed
THE Capital Market Development Council (CMDC) is studying the possibility of setting up the country’s Child Trust Fund (CTF), which would aim to encourage low-income families to save for their children’s college education.
Peso may rise further as gov’t shutdown weighs on US dollar
THE PESO may rise further against the dollar this week as the US government’s operations remain halted, resulting in market uncertainty.
On Friday, the local...
Hot money flows bare investor unease
MORE FOREIGN FUNDS fled the Philippines in June -- marking the second straight month of net outflows -- as concerns about rising inflation and a weaker peso dampened investor appetite, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
ERC urged to hike reserve power capacity
THE ENERGY REGULATORY Commission (ERC) should raise the required reserve power capacity of the grid to prevent more outages in the future, an energy...
BSP easing may continue as weak growth drags
THE BANGKO SENTRAL ng Pilipinas (BSP) may further ease this year as the corruption scandal may continue to dampen government spending and economic growth,...