MANILA, Philippines — The Philippine manufacturing sector continued to bounce back in April, hitting the highest rate for more than four years as conditions improved with declining COVID cases and lifting of restrictions. New York-based intelligence firm S&P Global said the Philippines’ headline purchasing managers’ index (PMI) rose to 54.3 in April from 53.2 in […]
Read MoreMANILA, Philippines — Philippine factories shrugged off pandemic aches in April as manufacturing output posted its best finish since November 2017, all while weathering a persistent disruption in the global supply chain. In a statement on Monday, S&P Global, formerly IHS Markit, reported the Philippines’ purchasing managers’ index (PMI), a measure of factory output, surged to 54.3 in […]
Read MoreMANILA, Philippines — Metro Manila, epicenter of the pandemic and the country’s major economic hub, managed to recover last year, but its growth remains among the slowest in the Philippines as the region suffered repeated lockdowns and surges in COVID cases. In the latest Regional Accounts of the Philippines, the National Capital Region (NCR) saw […]
Read MoreMANILA, Philippines — The Bureau of the Treasury will face heightened pressure from the debt market in May, and may end up giving in to increased rates just to fulfill its borrowing program. The Treasury yesterday announced that it intends to borrow a total of P200 billion from local investors in May, similar to the […]
Read MoreMANILA, Philippines — More speculative funds left the Philippines in March, ending two straight months of net inflow following the interest rate liftoff by the US Federal Reserve and the impact of Russia’s invasion of Ukraine, resulting in a net outflow for foreign portfolio investments in the first quarter of the year. Data released by […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is ramping up the pilot test of a wholesale central bank digital currency (CBDC) as part of efforts to promote the stability of the country’s payment system. Dubbed Project CBDCPh, the pilot will test the use of CBDCs for large-value financial transactions on a 24/7 basis […]
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