Balance of payments surplus hits $1.5 billion in Oct.
THE PHILIPPINES’ balance of payments (BoP) position swung to a surplus in October, ending six straight months of contraction, the central bank said.
Remittances plunge by 19% in May
REMITTANCES plunged by 19% in May as overseas Filipino workers (OFWs) face salary cuts and layoffs as the coronavirus disease 2019 (COVID-19) pandemic continues to ravage economies around the world.
DTI imposes safeguard duty on polyethylene imports
THE DEPARTMENT of Trade and Industry (DTI) ordered the imposition of safeguard duties on imports of high-density polyethylene (HDPE) pellets and granules for three years in a bid to protect the local industry.
BSP seen to cut policy rate to 4% by 2026
THE Bangko Sentral ng Pilipinas (BSP) will likely deliver three more rate cuts until 2026 to support the economy amid an anticipated slowdown, Fitch Solutions’ unit BMI said.
NEDA revising goals under PHL dev’t plan
THE National Economic and Development Authority (NEDA) is currently revising the government’s medium-term development targets under the Philippine Development Plan (PDP) 2017-2022 due to the impact of the coronavirus disease 2019 (COVID-19) pandemic.
Return to strict lockdowns to hurt recovery — Chua
THE GOVERNMENT will avoid reimposing strict quarantine measures even if the number of coronavirus disease 2019 (COVID-19) infections surge, in order to sustain economic recovery throughout 2021, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Wednesday.
BSP throws P300-B lifeline to gov’t
THE Bangko Sentral ng Pilipinas (BSP) will buy short-term securities from the Bureau of the Treasury (BTr) to support the government in lessening the impact of the coronavirus disease 2019 (COVID-19) outbreak on the economy.
Central banks urged to remain a stabilizing force amid uncertainty in global economy —...
CENTRAL BANKS must remain a “stabilizing force” amid uncertainties in the global economy, the Bank for International Settlements (BIS) said.
Infrastructure spending jumps 13% in 2022
STATE SPENDING on infrastructure rose by 13.4% in 2022, as the government ramped up public works and transportation-related projects.
According to the Department of Budget...
Philippine graft scandal may worsen stocks rout, says PSE president
PHILIPPINE Stock Exchange, Inc. (PSE) President and Chief Executive Officer Ramon S. Monzon has urged a “swift” and “credible” investigation of corruption allegations facing...
Planned higher public float requirement to impact half of listed firms
NEARLY HALF of publicly listed companies are expected to be affected by the doubling of the minimum public float requirement planned by the Securities and Exchange Commission (SEC), the bourse operator has said.
Gov’t to borrow P200B from domestic market
THE NATIONAL government (NG) plans to borrow P200 billion from the domestic market in February, the Bureau of the Treasury (BTr) said on Tuesday.
The...