MANILA, Philippines — Government infrastructure spending rose by more than 60 percent to P70.9 billion in August, as public works is expected to account for bulk of the state’s expenditures for the rest of the year. Based on records from the Department of Budget and Management (DBM), August spending for infrastructure jumped from P44.3 billion […]
Read MoreMANILA, Philippines — The government yesterday failed to borrow P35 billion from domestic investors after they asked for yields that went beyond expected levels. The Bureau of the Treasury rejected all bids for the P35 billion in reissued 10-year Treasury bonds (T-bonds) due to mounting monetary pressures. Likewise, demand for the long-term securities fell short […]
Read MoreMANILA, Philippines — The Philippines has the highest percentage of domestic e-commerce sellers in Southeast Asia, showing big room for growth for cross-border e-commerce, according to a survey of Amazon. Amazon Global Selling’s survey showed the percentage of domestic e-commerce sellers in the Philippines was at 70 percent, the highest compared to other Southeast Asian […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has reminded banks and financial institutions to deal only with online gaming businesses registered by authorized government agencies. BSP Deputy Governor Chuchi Fonacier said BSP-supervised financial institutions (BSFIs) should strictly observe the requirements on customer due diligence, ongoing monitoring, and reporting of suspicious transactions. The BSP […]
Read MoreMANILA, Philippines — The electronics sector, the country’s top exporter, is expected to sustain its growth momentum until next year even with global trade bottlenecks as economies recover. In its weekly economic preview, market intelligence firm IHS Markit said global demand for electronic products continues to witness strong rebound following a slump last year. The […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) expects a shallower recovery for the Philippines in the second half due to the resurgence of COVID cases. Malhar Nabar, head of the World Economic Studies Division at IMF, told participants at the press briefing during the recently concluded Annual Meetings of the World Bank Group and […]
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