The Philippines on Thursday reopened its borders to foreign tourists, lifting a two-year ban implemented to keep local Covid-19 cases under control. Easing border restrictions to fully vaccinated foreigners from 157 countries with visa-free arrangements with the Philippines marks the beginning of the “next chapter in the road to recovery,” Tourism Secretary Bernadette Romulo-Puyat said. […]
Read MoreMANILA, Philippines — The Philippine economy may grow faster this year, prompting the Bangko Sentral ng Pilipinas (BSP) to hike interest rates, Japanese investment bank Nomura said. It said the country’s gross domestic product (GDP) growth may accelerate to 6.5 percent this year, but below the seven to nine percent target set by the Cabinet-level […]
Read MoreMANILA, Philippines — Insurers hiked their contribution to economic output last year as Filipinos spent more for policies amid the pandemic. The Insurance Commission (IC) said the insurance industry increased its contribution to gross domestic product (GDP) as the pandemic compelled Filipinos to be more aware and conscious of their health and financial wellness. “The […]
Read MoreMANILA, Philippines — Firms waiting for the ratification of the Regional Comprehensive Economic Partnership (RCEP) should not be discouraged despite the delay as the Philippines can still catch up, according to the Asian Development Bank (ADB). Still, the ADB said the deferment of the ratification of RCEP, which is considered as the world’s largest free […]
Read MoreMANILA, Philippines — Investments approved by the Philippine Economic Zone Authority (PEZA) dropped more than a fourth last year and fell below target as the pandemic continued to affect investor sentiment. PEZA data showed total investments for 204 projects approved by the agency reached P69.30 billion last year, down 27 percent from P95.03 billion in […]
Read MoreMANILA, Philippines — The Philippines fell to eighth place in macro risk assessment ranking last year, from second spot in 2020, as the cover for foreign obligations and fiscal position declined due to the pandemic, according to DBS Bank Ltd. of Singapore. In its latest emerging markets risk heatmap, DBS said the Philippines and Thailand […]
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