MANILA, Philippines — A heady mix of an ongoing moratorium on new coal-fired plants and the Philippines’ inability to quickly wean off dependence on “dirty energy” could backfire and cause the country to miss its climate targets, says a US-based non-governmental organization. Global Energy Monitor’s annual report on global coal energy use spotlighted that the […]
Read MoreMANILA, Philippines — Inflation the rate of increase in the prices of consumer goods and services further eased in March due to slower upticks in food and transport costs, the Philippine Statistics Authority (PSA) reported yesterday. In a briefing, PSA chief Dennis Mapa said headline inflation slowed down to 7.6 percent in March from 8.6 […]
Read MoreMANILA, Philippines — The door opened further for a possible pause in the tightening cycle of the Bangko Sentral ng Pilipinas (BSP) as early as next month after inflation cooled to a six-month low of 7.6 percent in March from 8.6 percent in February. ING Bank senior economist Nicholas Mapa said inflation may ease further […]
Read MoreMANILA, Philippines — The domestic economy’s growth rate in the final quarter of 2022 was revised downward, per the Philippine Statistics Authority on Wednesday. In a statement, the PSA revised the Philippine economy’s gross domestic product in the fourth quarter to 7.1% from the previous 7.2%. It kept the annual growth rates for 2021 and […]
Read MoreMANILA, Philippines — Local factories slowed down in March as operating costs continued to turn expensive but some reprieve is on the horizon as inflationary pressures eased. A survey of around 400 manufacturers in the country found that the Philippines’ Purchasing Managers’ Index (PMI), a gauge of manufacturing output, grew at a softer clip of […]
Read MoreMANILA, Philippines — Most economists expect inflation to ease for the second consecutive month in March, but are convinced it remained above eight percent or double the higher end of the two to four percent target range of the Bangko Sentral ng Pilipinas (BSP) UnionBank chief economist Ruben Carlo Asuncion said inflation eased further to […]
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