MANILA, Philippines — As expected, the Bangko Sentral ng Pilipinas (BSP) decided anew yesterday to keep interest rates steady for the meantime as it recognized risks to economic growth due to the failure of Congress to pass the 2019 national budget. In a press conference, BSP Governor Benjamin Diokno said the Monetary Board kept the overnight reverse repurchase rate at 4.75 […]
Read MoreMANILA, Philippines — The Department of Energy (DOE) warns of higher fuel prices amid tight supply in the international market. Recent world events have once again pushed the prices of oil in the local market. The DOE has observed the continuing decline of oil production by members of the Oil Petroleum Exporting Countries (OPEC), as […]
Read MoreMANILA, Philippines — The peso moved sideways yesterday ahead of the rate setting meeting of the Bangko Sentral ng Pilipinas (BSP) wherein interest rates are expected to remain unchanged amid easing inflation. The local currency shed two centavos to close of 52.81 to $1 from Tuesday’s 52.83 to $1. It opened weaker at 52.9 to […]
Read MoreMANILA, Philippines — The Philippines is among the countries in Asia Pacific that is least exposed to a fall in Chinese demand arising from the trade war between the US and China, according to Moody’s Investors Service. In a report, the debt watcher said the Philippines may post a softer decline in gross domestic product […]
Read MoreMANILA, Philippines — The discrepancy in the trade data recorded by the Philippines as against figures reported by its trading partners worsened in 2018 due to lapses in the collection of export data, the Department of Finance (DOF) said yesterday. Comparing data from the International Monetary Fund (IMF) Direction of Trade Statistics and the Philippine Statistics Authority (PSA), Finance […]
Read MoreMANILA, Philippines — Coming from a high base last year, Manila Electric Co. (Meralco) expects sales to rise slowly in the first quarter due to cooler temperature during the period. The power distributor sees energy sales growing by around 2.5 percent from January to March, Meralco president and chief executive officer Oscar Reyes said in an interview […]
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