High rates to weigh on economy till ’25
THE PHILIPPINES’ gross domestic product (GDP) will likely fall short of the government growth targets through 2025 as the impact of multi-year high interest rates may continue to weigh on the economy, the Bangko Sentral ng Pilipinas (BSP) said.
Incentives key to attracting investments from firms shifting work from China
THE Philippines must improve its incentives program and remove trade obstacles to remain competitive in attracting investments, as global companies begin shifting China-based operations to Southeast Asia, international business councils said.
BSP: Shift from ‘obsolete’ OTPs to more secure methods needed
THE BANGKO SENTRAL ng Pilipinas (BSP) is seeking to veer away from the use of one-time passwords (OTPs) in favor of more secure and advanced authentication methods.
Banks paint ‘manageable’ Hanjin risk
FITCH SOLUTIONS on Tuesday added its voice to expectations that debt woes of Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Phil) will not likely shake the Philippines’ financial sector, as four of the affected local banks disclosed some details of their exposure to the troubled Korean shipbuilder.
Rice tariff stays at 15% till November
THE 15% TARIFF on imported rice will remain unchanged at least until November, according to the Department of Economy, Planning, and Development (DEPDev), as...
BSP likely to keep rates steady — poll
THE CENTRAL BANK is likely to keep its key policy rates at the record low levels on Thursday, as it considers the recent uptick in the country’s inflation rate, according to analysts.
Top firms pay taxes ahead of deadline
THE country’s top companies, led by BDO Unibank, Inc., settled their income taxes ahead of the extended deadline, according to the Department of Finance (DoF).
Philippines to boost global bond sales as graft hits economy
(UPDATE) The Philippines plans to raise the amount of funds it gets from selling international bonds by more than 60% to $5.3 billion next...
Inflation likely hit 26-month high in Feb – poll
HEADLINE INFLATION is likely to have breached the central bank’s target for a second straight month in February, as food and fuel prices remain elevated, according to economists.
More local projects in focus
THE NATIONAL Economic and Development Authority’s (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved on Wednesday the P14.07-billion Regional Fish Port Project for the Greater Capital Region and the P3.87-billion Philippines-Korea Project Preparation Facility, as well as adjustments in the scope of road and rehabilitation projects in Mindanao.
Remittances grow despite uncertainties
CASH sent home by overseas Filipino workers (OFWs) grew at the fastest clip in a year to their biggest amount, so far, for 2019 in October, global uncertainties notwithstanding, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
Gov’t working on 90 investment leads from China
THE PHILIPPINES is now pursuing 90 active investment leads from Chinese companies, President Ferdinand R. Marcos, Jr. said on Thursday.
Mr. Marcos made the statement...