Stocks retreat as conflict keeps market cautious
PHILIPPINE STOCKS continued to retreat on Tuesday as investors chose to stay on the sidelines amid continued uncertainty over the Middle East conflict.
The benchmark...
Philippines to see faster inflation, slower GDP growth
MOODY’S RATINGS lowered its growth forecast for the Philippines and raised its inflation outlook, reflecting the impact of soaring global energy prices amid the...
Lower demand, higher prices push LPG supply to 50 days
THE COUNTRY’S liquefied petroleum gas (LPG) supply increased to the equivalent of 50 days of inventory, driven by a seasonal decline in consumption that...
DBCC opposes suspension of excise tax on gas, diesel
SUSPENDING EXCISE TAXES on diesel and gasoline would only provide limited relief compared to lifting levies on liquefied petroleum gas (LPG) and kerosene as the resulting decline in pump prices would be small, the Department of Finance said.
IMF downgrades Philippine growth to 4.1%
THE International Monetary Fund (IMF) now expects Philippine economic growth this year to fall far below the government’s target as the oil shock from the Middle East war adds to the impact of a graft scandal that stalled public spending.
Philippines grants banks flexibility to extend loan payments amid energy crisis
MANILA - The Philippines will allow banks to give borrowers more time to settle their loans as part of a package of relief measures...
Shares rebound on optimism over US-Iran talks
PHILIPPINE STOCKS rebounded on Wednesday on optimism over a possible resolution to the Middle East conflict and as investors picked up bargains after the...
Uncertainty over war drags down peso
THE PESO slid back to the P60-a-dollar level on Wednesday due to uncertainty over the fate of the fragile ceasefire between the United States...
Emerging Asia needs ‘narrowly targeted’ policies vs energy shocks — IMF
WASHINGTON, D.C. — Policymakers in Emerging Asia markets such as the Philippines should implement “narrowly targeted” measures to weather current energy shocks from the Middle East war, the International Monetary Fund (IMF) said.
Pump prices may drop further next week — DoE
LOCAL PUMP PRICES may continue to decline next week based on early estimates, despite renewed upward pressure on global oil prices following the US blockade of Iranian ports, a Department of Energy (DoE) official said.
Cash remittances hit 9-month low in February
MONEY SENT HOME by overseas Filipino workers (OFWs) fell to its lowest level in nine months in February, the Bangko Sentral ng Pilipinas (BSP) reported.
Remolona: BSP has room to tighten
WASHINGTON, D.C. — The Bangko Sentral ng Pilipinas (BSP) said it has room to raise policy rates as the National Government’s planned catch-up spending is expected to cushion the economy from a sharper slowdown amid the energy crisis.