Regulators start monitoring crypto assets, though no major risk for now
LONDON -- Global regulators have published a framework for “vigilantly” monitoring risks from crypto assets like bitcoin and ether, even though they don’t pose a major risk to financial stability for now.
May remittances signal GDP boost
MONEY SENT HOME by Filipinos working abroad surged in May to the highest level in five months, the Bangko Sentral ng Pilipinas (BSP) reported Monday, signalling continued growth of household spending that contributes close to 60% to gross domestic product (GDP).
Gov’t eyes P40 billion from bonds for Marawi
THE GOVERNMENT is looking to raise about P40 billion through retail bonds sold in tranches to help finance the rehabilitation of Marawi City in the next five years, the Department of Finance (DoF) said in a press statement on Monday.
IMF team in town to validate Philippine economic outlook
OFFICIALS of the International Monetary Fund (IMF) are in town for an annual health check on the Philippine economy, at a time the multilateral lender sees uneven prospects for global growth amid trade tensions.
Southeast Asia’s economic growth could be trade war’s next casualty
FOR SOUTHEAST ASIA’S biggest economies, 2018 wasn’t supposed to be like this.
State spending to sustain GDP growth
THE Organization for Economic Cooperation and Development (OECD) sees Philippine economic growth sustaining its 2017 growth pace until next year on the back of government spending that will take up the slack from weaker private consumption and export growth.
DoF lines up more tax reforms
THE DEPARTMENT of Finance (DoF) plans to submit to Congress this month the tax reform packages on property valuation and passive income.
State economic managers cautious on federal system — Pernia
STATE economic managers are lukewarm to implementing federalism in the Philippines since many regions may be ill-prepared to stand on their own feet, the chief socioeconomic planner said.
BSP seeks to allay inflation worries from RRR reduction
ADDITIONAL money supply due to cuts in bank reserves has been siphoned by the central bank’s open market operations, its chief said, as he sought to dispel worries that these adjustments offset rate tightening moves.
WB maintains Philippine growth forecast
THE World Bank sees stronger growth during the second half of 2018 on the back of stronger public spending, with the Philippine economy expected to sustain its pace despite global headwinds.
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.
Banks’ bad debts rise, still deemed manageable
BAD DEBTS held by big banks grew in May but accounted for a small share of total lending, according to latest data released by the Bangko Sentral ng Pilipinas (BSP).