MANILA, Philippines — Despite steady progress for three decades, the Philippines still struggles to close one of the widest wealth gaps in East Asia, with the country ranking 15th out of 65 countries in terms of inequality, the World Bank found in a study released Thursday. In a report entitled “Overcoming Poverty and Inequality in the Philippines: Past, Present, and Prospects […]
Read MoreTHE Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF) inched up anew on Wednesday, days after it raised its policy rates. In a statement, the central bank said that the average rate of the one-week facility increased to 5.4921 percent and the two-week facilities to 5.6635 percent. These were at 5.0668 percent for the […]
Read MoreMANILA, Philippines — Urgent action to unlock the benefits of the Regional Comprehensive Economic Partnership (RCEP) agreement will need to be taken by countries now amid high inflation and supply side issues, according to the Asian Development Bank (ADB). In the multilateral lender’s latest blog, ADB economist Sanchita Basu-Das said the RCEP, which is a […]
Read MoreMANILA, Philippines — Local insurers are no longer optimistic on the possible extension of the final tranche of increase in capital requirement by yearend, but the industry maintained it would continue to push for its review. During the briefing for the Coop Climate Summit 2022 yesterday, the Philippine Insurers and Reinsurers Association (PIRA) said the […]
Read MoreTHE Philippine Exporters Confederation Inc. (Philexport) is optimistic that the country’s export industry can achieve its growth target of nearly $120 billion to $130 billion from exports of goods and services in the next five years. In a statement, Sergio Ortiz Luis Jr., Philexport president and Export Development Council (EDC) chairman underscored Philexport’s thrust to […]
Read MoreFILIPINOS are still saving for Covid-related things as they continue to worry about the effects of the pandemic despite the easing of restrictions and the resumption of outdoor and everyday activities. According to a study done by bookkeeping app Lista, Filipinos are now mostly saving for the goal of owning their own home and for […]
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