MANILA, Philippines — DBS Bank Ltd. of Singapore and Japan’s Nomura expect the Bangko Sentral ng Pilipinas (BSP) keeping interest rates steady and ending its tightening cycle amid the downtrend in inflation that eased to an eight-month low of 6.6 percent in April from 7.6 percent in March. Chua Han Teng, economist at DBS, said […]
Read MoreMANILA, Philippines — The Philippines’ trade deficit widened in March as merchandise imports continued to outpace the export of goods, according to the Philippine Statistics Authority (PSA). Preliminary data from the PSA yesterday showed the balance of trade in goods or difference between the value of exports and imports amounted to a deficit of $4.93 […]
Read MoreMANILA, Philippines — The Philippine Retailers Association (PRA) is pushing for the implementation of a value-added tax (VAT) refund scheme for foreign tourists to encourage more tourist spending in the country. In an interview with reporters, PRA chairman Paul Santos expressed support for the implementation of a VAT refund system for tourists, emphasizing that the […]
Read MoreMANILA, Philippines — The country’s unemployment rate declined in March while the quality of jobs improved, according to the Philippine Statistics Authority (PSA). In a briefing yesterday, national statistician Dennis Mapa said preliminary results of the PSA’s Labor Force Survey showed the unemployment rate was at 4.7 percent last March, down from 4.8 percent in […]
Read MoreMANILA, Philippines — The country’s outstanding debt increased to P13.86 trillion in March, hitting a fresh new high yet again, with the Marcos administration already adding over P1 trillion since it took office. Latest data from the Bureau of the Treasury showed that the national debt reached P13.86 trillion by end-March, up by 0.8 percent […]
Read MoreMANILA, Philippines — Credit growth picked up slightly in March after slowing down for three straight months as the aggressive rate hikes delivered by the Bangko Sentral ng Pilipinas (BSP) eat into bank lending. Preliminary data released by the central bank showed that loans disbursed by universal and commercial banks grew by 10.1 percent in […]
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