MANILA, Philippines — Factory gate prices surged at the start of the year as increases were recorded in the majority of industry groups, the Philippine Statistics Authority (PSA) said. Latest data from PSA showed the Producer Price Index (PPI) for January accelerated by 4.1 percent, significantly faster than the 0.6 percent in December 2021. In […]
Read MoreMANILA, Philippines — Fresh from surpassing its collection target in 2021, the Bureau of Customs (BOC) sustained its revenue efforts as it raised more than 17 percent of its 2022 goal just two months into the year. The BOC collected P59.04 billion in February, beating its target for the second straight month this year. It […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is tightening the guidelines for registration of banks and non-bank financial institutions venturing into electronic money services based on their size, complexity of operations and systemic importance. In a draft circular, the BSP said it aims to promote a safe, efficient and inclusive digital finance ecosystem […]
Read MoreTHE Philippine economy is likely to grow 6.5 to 7 percent this quarter, listed Rizal Commercial Banking Corp. projected, but warned that higher oil prices due to Russia-Ukraine tensions is a key risk to expansion. RCBC chief economist Michael Ricafort said in a briefing that his forecast took into consideration base effects because the gross […]
Read MoreANALYSTS anticipate that the Philippine peso will weaken against the US dollar this month due to rising interest rates in the United States and the ongoing Russia-Ukraine crisis. After closing February at P51.27:$1, analysts expect the peso to thread the P52 to the US dollar level in March. The impact on the dollar-peso exchange rate, […]
Read MoreMANILA, Philippines — The country’s manufacturing sector rebounded strongly, hitting a three-year high in February as COVID-19 cases dropped after the short Omicron surge. Market intelligence firm IHS Markit said the Philippines’ headline purchasing managers’ index (PMI) rose to 52.8 in February from 50 in January. The latest reading registered above the threshold that separates […]
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