DoF says 7.7% GDP expansion this semester ‘still possible’
A BLISTERING 7.7% gross domestic product (GDP) expansion this semester — needed for the economy to hit the bottom of an official full-year target for 2018 — may still be “possible” on the back of strong capital formation, according to a senior official of the Department of Finance (DoF).
Executive-House budget impasse elevated to Duterte and Arroyo
IT may take a sitting President and a former president-turned Speaker to break the current deadlock between the Executive and the House of Representatives over the P3.757-trillion national spending plan proposed for next year.
BSP: PHL well-armed vs risk from Turkey
THE PHILIPPINES is well-armed with enough buffers to stay resilient to global shocks, the central bank chief said on Monday, amid fears that market turmoil over Turkey’s economic woes has begun to spill into emerging economies in Asia.
Lira crisis hits Asia’s currencies as marts run for cover
ASIAN CURRENCIES were battered on Monday with the Indian rupee touching a record low as the ongoing crisis in Turkey spilled over to emerging markets and investors flocked to safe-haven assets.
Budget spat puts in doubt Palace clout in House
OPPOSITION of the House of Representatives majority bloc to the P3.757-trillion proposed 2019 national budget caught Malacañang by surprise, at a time a newly installed leadership has just settled down in the chamber and with preparations for the May mid-term elections next year soon under way.
FDI inflows expected to yield long-term economic benefits
THE RECENT SURGE in foreign direct investments (FDI) should help fuel merchandise export growth “two or three years from now,” providing added impetus for overall economic expansion to pick up, the chief of the Bangko Sentral ng Pilipinas (BSP) said.
IMF: Slower Q2 growth still ‘respectable’
ECONOMIC GROWTH remains “respectable” despite slowing sharply in the second quarter, the International Monetary Fund (IMF) said over the weekend, welcoming last week’s aggressive interest rate hike as a necessary policy step.
DBM studies prospect of reenacted 2019 budget
THE DEPARTMENT of Budget and Management (DBM) has raised the possibility of having a reenacted budget for 2019 in order to break the impasse with lawmakers on a new spending plan that will allocate funds only for projects or tasks that can be completed within next year.
BSP eases rules for bank fund raising via bonds
BANKS can now raise fresh capital via corporate bonds with greater ease starting this month, as new rules do away with having to secure approval from the Bangko Sentral ng Pilipinas (BSP).
May FDI data bare continued investor confidence
FOREIGN DIRECT INVESTMENT (FDI) net inflows to the Philippines more than doubled in May from a year ago to a seven-month high, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
Competition watchdog approves Grab-Uber deal
THE PHILIPPINE COMPETITION COMMISSION (PCC) has cleared Grab Philippines’ (MyTaxi.PH Inc.) acquisition of the local business of Uber and Uber Systems, Inc., but will monitor for a year the former’s compliance with quality and pricing standards it had committed to.
Central bank fires off third rate hike
THE Bangko Sentral ng Pilipinas (BSP) raised rates anew yesterday in a more aggressive move as expected, to temper inflation amid signals that prices could remain elevated until next year.