MANILA, Philippines — Local vehicle assemblers achieved their highest monthly sales since the pandemic, rising by 43 percent in March, as Metro Manila and several areas moved to the most lenient alert level status. A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released yesterday […]
Read MoreMANILA, Philippines — The Philippine government managed to keep its investment grade credit rating from Japan-based debt watcher Rating and Investment Information Inc. (R&I), which cited the country’s “solid” economic recovery despite COVID-19 flare-ups. R&I, whose ratings matter to Japanese companies, the country’s top investors, maintained the Philippines’ triple B plus rating, which is two notches above the minimum investment […]
Read MoreMANILA, Philippines — The research unit of Australia and New Zealand Bank expects the Bangko Sentral ng Pilipinas (BSP) to deliver five rate hikes instead of only two this year, as upside risks to inflation forecasts have become more prominent with higher oil prices. ANZ Research chief economist for Southeast Asia Sanjay Mathur and economist […]
Read MoreMANILA, Philippines — The continued tension between Ukraine and Russia will likely put a dent on Philippine exports as well as in many other Asia-Pacific economies. In its weekly economic preview, New York-based market intelligence firm S&P Global said the region has so far been resilient to global economic shockwaves because of the war. This […]
Read MoreMANILA, Philippines — All countries are urged to keep their trade open to support vulnerable economies, especially net-importing ones that are bearing the brunt of rising commodity prices due to the Russia-Ukraine war. In a joint statement, the World Bank Group, International Monetary Fund, United Nations World Food Program and the World Trade Organization called […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is finalizing a large exposures frameworks for banks to ensure the stability of the banking sector as well as the country’s financial system. In a draft circular, the BSP said it is cognizant that risks arising from the exposures of BSP-supervised financial institutions (BSFIs) to a […]
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