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Philippines: Manufacturing slowly expanded in October

DOMESTIC manufacturing activity continued to expand in October but at a pace slower than the previous month, S&P Global reported on Wednesday. At 52.6, the Philippines’ latest purchasing managers’ index (PMI) was down slightly from September’s 52.9. The result remains positive, however, as readings above 50 indicate gains. “While the headline index signaled a slightly […]

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Philippines: BSP to deface unfit coins

TO maintain the integrity of the Philippine currency, the Bangko Sentral ng Pilipinas (BSP) retired 519.93 metric tons of unfit, demonetized, mutilated and counterfeit (UDMC) coins through defacement. In a statement on Wednesday, BSP said that the coin defacement was undertaken beginning October 2021 until September 2022. Coin defacement, done via machine, involves a process […]

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Philippines ready to face challenges – BSP

MANILA, Philippines — The affirmation of the Philippines’ investment grade rating by Fitch Ratings reflects a credible economic policy framework, strong economic growth and sound external finances, according to economic managers. Bangko Sentral ng Pilipinas Governor Felipe Medalla said the BSP “consistently signals to the market its unwavering commitment to use the tools at its […]

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