All eyes on Fed, ECB as they tighten policy in tandem
FRANKFURT -- Tightening policy by a notch just one day apart, the world’s top two central banks will hope to signal confidence in global economic growth, despite risks of a trade war, currency swings and political turbulence.
Vietnam police halt protests against new economic zones
HANOI -- Police in Vietnam detained more than a dozen protesters in the capital Hanoi on Sunday and halted demonstrations in other cities against plans for new special economic zones that the protesters fear will be dominated by Chinese investors.
Trade remains a drag in April as exports drop to lowest level in nearly...
THE country’s trade deficit expanded in April on account of declining merchandise exports and a double-digit surge in inbound shipments, the government reported on Friday.
Filipino consumers more optimistic for Q2
MORE Filipinos grew optimistic for the second quarter amid perceived improvement in peace and order, and bigger incomes, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
BSP may need to tighten policy further — Deutsche Bank
SUCCEEDING rate hikes may need to be implemented by the Bangko Sentral ng Pilipinas (BSP) over the coming year in order to arrest faster inflation and keep the peso competitive, a global bank said.
Philippines raises $2.3B from retail treasury bond issue
MANILA — The Philippines raised P121.77 billion ($2.31 billion) from the sale of 3-year retail treasury bonds that attracted strong demand, a senior government official said on Friday.
FDI pledges drop 37.9% in first quarter
APPROVED foreign investment pledges fell to their lowest level in nearly eight years last quarter in the face of external developments and uncertainties due to planned changes to the corporate income tax and incentives schemes.
FX reserves dip to three-year low
THE COUNTRY’s foreign exchange reserves dipped in May to a fresh three-year low amid lower gold valuations and as the central bank defended the peso.
Meralco bills to go down for a second month in June
MANILA Electric Co. (Meralco) has announced on Thursday a P0.1252 per kilowatt-hour (/kWh) reduction in the overall electricity rate for a typical household in June, marking the second straight month of decline.
BSP’s Monetary Board now complete
PRESIDENT Rodrigo R. Duterte has appointed rice expert V. Bruce J. Tolentino as a member of the central bank’s Monetary Board, filling the seat in the policy-making body that was left vacant by Valentin A. Araneta who passed away on Feb. 21.
WB cites PHL growth promise, risks
THE WORLD BANK sees the Philippines sustaining relatively robust growth in the medium term -- though short of government target -- but flagged capacity constraints and price pressures that may weigh on prospects.
Finance dep’t touts sustained fiscal performance as of May
THE GOVERNMENT’S “impressive” fiscal performance was sustained in May, the Finance chief said, adding that this showed successful implementation of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.