Wages watched for price impact
AN UNEXPECTED increase in minimum wages could prompt the Bangko Sentral ng Pilipinas (BSP) to raise rates anew, a global bank said, even as inflation is expected to ease over the coming months.
Duterte appoints new SEC chairman
PRESIDENT Rodrigo R. Duterte has appointed Emilio B. Aquino as the new chairman of the Securities and Exchange Commission (SEC), replacing Teresita J. Herbosa whose seven-year term expired on March 15, the corporate regulator said in a statement on Wednesday.
Government flags inflation concern
INFLATION clocked slower than expected in May but still marked the fastest clip in more than five years and kept the year-to-date pace past the government’s 2-4% target for 2018, prompting state economic managers to express concern and assure the public of action in separate statements on Tuesday.
April sees more jobs; quality wanting
THE RANKS of jobless Filipinos in April dipped from a year ago, but those working who wanted additional income increased in the same period, according to the latest government data released on Tuesday.
Q2 GDP growth likely on target — Budget chief
ECONOMIC growth likely picked up this quarter to fall within the 7-8% official full-year 2018 target, the Budget chief said on Tuesday, as the Philippine Statistics Authority (PSA) reported that factory output began those three months with its biggest improvement in eight years.
PHL helps spur ASEAN factory activity
THE PHILIPPINES stayed second in terms of manufacturing performance in the Association of Southeast Asian Nations (ASEAN) in May, despite logging its best Purchasing Managers’ Index (PMI) reading so far for the year.
BSP prepares big banks for stiffer liquidity rules
THE Bangko Sentral ng Pilipinas (BSP) will closely monitor liquidity buffers held by big banks starting July, ahead of adopting tighter rules which ensure that lenders can stay afloat for at least a year.
Asia sees China and United States as threats to rules-based order
LONDON -- For many US allies, Secretary of Defense James Mattis is the last of the Trump administration’s so-called grown-ups in the room.
US trade policy ‘deplorable’ — Japan
TOKYO -- US-imposed trade tariffs on its close allies could have a “grave impact” on ties and the world trading system, the Japanese government said Monday, describing the situation as “extremely deplorable.”
Poll puts May price hike past target
HIGHER OIL and food prices drove inflation even faster in May from a year ago to a fresh five-year high, analysts said in a BusinessWorld poll, even as the Finance department said in a bulletin that month-on-month tracking may signal slowing momentum ahead.
BIR seeks to speed up transactions
THE BUREAU of Internal Revenue (BIR) has taken more steps to speed up taxpayer transactions.
Global trade spat puts factories, recovery at risk
LONDON/BEIJING -- Factory growth in major manufacturing hubs showed signs of cooling last month as companies braced for potential damage from rising global trade tensions while also grappling with accelerating inflation and a strong dollar.