MANILA, Philippines — Energy Secretary Alfonso Cusi is urging Indonesia to lift its coal export ban, as the Philippines heavily sources its coal imports from the fellow Southeast Asian country. In a letter addressed to Indonesian Minister of Energy and Mineral Resources Arifin Tasrif, Cusi said Indonesia’s recent policy would be “detrimental to economies that […]
Read MoreMANILA, Philippines — Private consumption is expected to stay muted this year as the labor market remains challenging and as households continue to rebuild savings lost since the pandemic started. In its latest economic monitor, Pantheon Macroeconomics said consumption, which accounts for over 70 percent of the economy, is still fragile due to non-virus headwinds. […]
Read MoreMANILA, Philippines — Foreign trade expanded at a faster clip in November but the trade deficit widened amid the country’s economic reopening. External trade grew 24% year-on-year to $17.25 billion, the Philippine Statistics Authority reported on Tuesday. This was faster than the 15.2% recorded in October and a reversal from the 6.6% contraction recorded in the […]
Read More[MANILA] The Philippines’ energy secretary Alfonso Cusi has appealed to Indonesia to lift its coal export ban, saying the policy will be detrimental to economies heavily reliant on the fuel for power generation, Manila’s Department of Energy said on Monday (Jan 10). Indonesia, the world’s biggest thermal coal exporter suspended exports on Jan 1 after […]
Read MoreMANILA, Philippines — The peso may depreciate further to 52 to $1 by the third quarter with the hawkish stance of the US Federal Reserve and the country’s widening current account shortfall, according to DBS Bank Ltd. of Singapore. Philip Wee, foreign exchange strategist at DBS, said the door is open for the local currency […]
Read MoreAs Omicron dims outlook MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is expected to remain accommodative the entire year as the Omicron variant will further stall economic recovery in the Philippines. In its weekly brief, London-based Capital Economics maintained that the central bank would not deliver any surprise rate adjustment, with monetary policy […]
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