MANILA, Philippines — The Philippine economy is expected to grow at least five percent this year, still below government targets, as the pace of vaccination rollout and possibility of lockdown measures may dampen the much-needed recovery. In its latest report, GlobalData, a leading data and analytics company in the UK, estimates that gross domestic product […]
Read MoreMANILA, Philippines — The exposure of Philippine banks in the real estate sector rose to a record high of 21.55 percent last year from 19.84 percent in 2019 and stayed within the higher end of the limit set by the Bangko Sentral ng Pilipinas (BSP). Latest data from the BSP showed investments and loans extended […]
Read MoreMANILA, Philippines — IKEA Philippines, the Swedish furniture and homewares chain, will open in the fourth quarter of the year. It is now in full preparation for the opening of the first IKEA store in the country. In a recent press conference, IKEA Philippines store manager Georg Platzer said the opening would be made via […]
Read MoreMANILA, Philippines — The continued downgrade of quarantine restrictions helped the manufacturing sector return to positive territory last month as more factories managed to operate at a much higher capacity. Market intelligence firm IHS Markit said the country’s headline purchasing managers’ index (PMI) stood at 50.8 in June, an improvement from the 49.9 recorded in […]
Read MoreMANILA, Philippines — The continued easing of mobility restrictions helped Filipinos regain some lost jobs in May, with the rollout of more COVID-19 vaccines expected to further aid in overall employment recovery in the country. The labor situation in the Philippines has improved, as evident in the latest report of the Philippine Statistics Authority (PSA) […]
Read MoreMANILA, Philippines — The domestic economy’s recovery from the recession is expected to attract more foreign investors into the country, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In his weekly virtual press conference, Diokno said the structural reforms being adopted and pursued together with the fiscal stimulus, the aggressive COVID-19 vaccine rollout, and […]
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