MANILA, Philippines — The Department of Trade and Industry (DTI) is urging Japanese firms to invest in sustainable industries, including electric vehicles (EVs) and develop green metals like nickel, copper, and cobalt. Trade Secretary Ramon Lopez made the call to Japanese firms during the recent virtual Philippine Economic Briefing organized by the Philippine Embassy in […]
Read MoreMANILA, Philippines — Lending by Philippine banks is expected to accelerate at a faster rate of eight percent next year from a three percent growth this year as the economy continues to recover, according to Fitch Ratings. In a report, the debt watcher said the Philippine banking system’s financial performance is expected to recover moderately […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas downplayed any threats posed by the Omicron variant on the local financial system amid a pick-up in vaccination rates, which is crucial in averting another harsh lockdown that could mess up economic recovery. In an afternoon briefing with reporters on Thursday, BSP Governor Benjamin Diokno said there’s […]
Read MoreMANILA, Philippines — The cost of living in the capital remained stable this year as price movements across commodities were balanced out more than a year into the pandemic. The Worldwide Cost of Living 2021 index of UK-based The Economist Intelligence Unit (EIU) showed that Manila’s ranking slid two notches to 84th from last year’s […]
Read MoreTHE peso will likely end the year weaker compared to 2020 given recovering import demand, analysts said. After closing November at P50.39 to the dollar, analysts expect the peso to close out 2021 at P49-50:$1. It had ended at P48.02:$1 during the last trading day of 2020, the currency’s best finish in over four years. […]
Read MoreMANILA, Philippines — The Philippine economy can grow above seven percent over the next three years as it rebounds strongly from the pandemic-induced recession, S&P Global Ratings said. The debt watcher, however, warned that the COVID crisis is far from over amid the threat posed by the emergence of the Omicron variant. “Just as Asia-Pacific […]
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