phil02
Read More

Fitch downgrades Philippines credit rating

First time in 15 years MANILA, Philippines — The Philippines suffered a setback as it received its first credit rating downgrade in 15 years after New York- based Fitch Ratings lowered the country’s credit outlook to stable from positive due to the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic. Fitch said the […]

Read More
phil01
Read More

Philippines: Hot money outflow highest in 6 years

MANILA, Philippines — The Philippines booked the biggest outflow in foreign portfolio investments in more than six years as global investors avoided the country while others cashed in on their holdings due to the coronavirus disease 2019 or COVID-19 pandemic. Data released by the Bangko Sentral ng Pilipinas (BSP) showed the country recorded a net […]

Read More
logo
Read More

Philippines: SEC warns vs more investment scams

MANILA, Philippines — The Securities and Exchange Commission (SEC) has noticed a continued spike in the proliferation of investment scams amid the coronavirus disease 2019 or COVID-19 pandemic. In separate advisories issued on May 5, the SEC identified five more groups engaged in investment-solicitation activities without the necessary license. These are CryptoInvestWith.Us (CIW.U); Won Project/ […]

Read More
logo
Read More

Philippines: Deeper contraction widely seen in Q2

MANILA, Philippines — The economy may contract further in the second quarter due to the coronavirus disease 209 or COVID-19 outbreak, according to Finance Secretary Carlos Dominguez. In a statement, Dominguez said the economy may head deeper into the negative territory in the second quarter after contracting by 0.2 percent in the first quarter. Dominguez, […]

Read More