MANILA, Philippines — The Philippines is expected to double the volume of pork imports from the global market this year amid a shortfall in supply due to the African swine fever (ASF), as well as the adjustments to the country’s tariff rate system. In the latest report of the United States Department of Agriculture (USDA)-Foreign […]
Read MoreMANILA, PHILIPPINES – Media OutReach – 12 April 2021 – The Philippines has enacted a landmark law that cuts corporate income tax by as much as 10 percent and rationalizes fiscal incentives, thereby serving as the biggest stimulus for businesses in the country’s history. On March 26, President Rodrigo R. Duterte signed Republic Act No. 11534 or […]
Read MoreMANILA, Philippines — The peso may weaken further over the next two years on the back of weak domestic growth, as well as the rising US Treasury yields in the first half of the year, according to Australia-based ANZ Research. In its latest Asia economic outlook, ANZ said the local currency may depreciate to 48.90 […]
Read MoreMANILA, Philippines — Barcelona-based think tank FocusEconomics raised its 2021 inflation forecast for the Philippines to 3.9 percent from the original target of 3.4 percent. This is the second time the think tank raised its inflation forecast after jacking up its projection from 3.1 percent in February. Alexandros Petropoulos, junior economist at FocusEconomics, said the […]
Read MoreMANILA, Philippines — Hotel operators in the Philippines are looking to take in additional bookings from domestic tourists this year to make up for the lack of foreign guests due to travel restrictions set by the government. Paul Ryan Isip, head of capital markets of property consultancy firm JLL Philippines, said hotels still anticipate a […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has retained the cap on interest rates on all credit card retail purchases and cash advances at 24 percent per year or two percent per month amid the low interest regime to help the economy recover from the pandemic-induced recession. In his weekly virtual press conference, […]
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