MANILA, Philippines — Cash sent home by overseas Filipino workers (OFWs) went up by 3.8 percent to $2.67 billion in April from $2.57 billion a year ago, buoyed by remittances from land-based workers with long-term contracts, the Bangko Sentral ng Pilipinas (BSP) said. From January to April, the BSP said personal remittances increased by 2.6 […]
Read MoreMANILA, Philippines — Sales of local car and truck assemblers went up by a fifth in May from a year ago, amid improving economic conditions. The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released a joint report yesterday which showed their combined sales reaching 26,370 units in May, […]
Read MoreMANILA, Philippines — The Philippines should open further to foreigners if it wants to corner more job-generating investments, Asia-based Hinrich Foundation said on Tuesday. There’s a “window of opportunity that might be the right moment to open the country,” Riccardo Crescenzi, professor of economic geography at the London School of Economics, said in an online forum […]
Read MoreMANILA, Philippines — As cigarette prices go up every year due to mounting taxes, smugglers are having a field day in far-flung areas particularly in Mindanao, where as many as three in every five packs are cheap, but illicit. “I think it should be noted that in Mindanao, illicit trade can reach up to 60 […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) said cutting infrastructure spending would narrow the budget deficit in the short term, but may harm economic recovery and industrial competitiveness in the long term. DOF chief economist Gil Beltran said yesterday the government could slash its budget gap in the medium term by tightening its belt […]
Read MoreMANILA, Philippines — Expect consumer-centric apps to remain the public’s darling in two years amid a burgeoning startup scene in the Philippines. For Lester Lim, country director of SHAREit Philippines, Filipinos are still keenly interested in apps that enhance the consumer experience such as the entry of fintech apps. These apps took center stage at […]
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