MANILA, Philippines — The incoming governor of the Bangko Sentral ng Pilipinas (BSP) sees inflation breaching the two to four percent target by 1.5 to 1.7 percent this year on soaring oil and commodity prices. Monetary Board member and incoming BSP chief Felipe Medalla told “The Chiefs” on Cignal’s TV’s One News/TV5 that private forecasters […]
Read MoreMANILA, Philippines — The Philippines recorded its widest balance of payments (BOP) deficit in 15 months at $1.61 billion in May, 2.6 times the $415 million shortfall recorded in April as the national government settled more foreign debt, according to the Bangko Sentral ng Pilipinas (BSP). The BOP deficit in May was the biggest since […]
Read MoreMANILA, Philippines — Revenue collectors have raised more than P453 billion worth of taxes through the fuel marking program by reinforcing their combined efforts against potential oil smuggling. Finance Secretary Carlos Dominguez said yesterday the Bureau of Customs and the Bureau of Internal Revenue (BIR) added P453.43 billion to state coffers through fuel marking as […]
Read MoreMANILA, Philippines — Rates for 10-year Treasury bonds nearly hit 7.4 percent yesterday, as investors anticipate an aggressive rate hike from the Bangko Sentral ng Pilipinas (BSP) to tame inflation. The Bureau of the Treasury yesterday borrowed P34.892 billion of the P35 billion it programmed to raise from the auction of original 10-year T-bonds. The […]
Read MoreMANILA, Philippines — The exposure of Philippine banks to the volatile property segment grew further to 23.3 percent in the first quarter from 22.01 percent in the same period last year, with the industry’s non-performing loan (NPL) ratio to the property sector breaching five percent. Data from the Bangko Sentral ng Pilipinas (BSP) showed the […]
Read MoreMANILA, Philippines —Tobacco officials understand why the government targets the industry every time it needs extra cash. They said cigarettes are viewed as low-hanging fruits that can be picked any time. After all, taxing tobacco feels fair and just due to its proven damage to public health. The Department of Finance even wants the next […]
Read More
Thailand
