The Philippines reaffirmed its commitment to expand trade and investment ties with Switzerland and deepen cooperation in clean techology and renewable energy, infrastructure, life sciences and digital healthcare sectors. The Department of Trade and Industry made the commitment ahead of the fourth Joint Economic Commission (JEC) to be held this week. “We enjoin Swiss businesses […]
Read MoreMANILA, Philippines — Tourism’s contribution to gross domestic product (GDP) last year fell to below P1 trillion, its lowest in more than a decade, as expenditures on travel declined by double digits due to border restrictions put in place by the government. In a report, the Philippine Statistics Authority (PSA) said gross value added (GVA) […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) now expects a slower economic recovery for the Philippines this year as it slashed its gross domestic product (GDP) growth forecast to 5.4 percent amid delays in vaccinations and the resurgence of COVID-19 cases. IMF mission chief Thomas Helbling said in a virtual press briefing that the […]
Read MoreMANILA, Philippines — Retail prices of construction materials in the capital region rose at a slower pace in May, the Philippine Statistics Authority (PSA) said. The Construction Materials Retail Price Index (CMRPI) in the National Capital Region moved upward to 1.2 percent, slower than the 1.3 percent in April. However, it is much faster than […]
Read MoreMANILA, Philippines — The Philippine economy is expected to turn in a strong second quarter performance, but sustaining such growth hinges on the reopening of economic activities to bring back consumption and boost business confidence, the country’s top economic planner said. During the Economic Journalists Association of the Philippines forum yesterday, Socioeconomic Planning Secretary Karl […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) is advising the public to be cautious of chain distribution plans or pyramid sales schemes circulating online as complaints involving such received by the agency have more than doubled as of end-April. In a statement yesterday, the DTI said a total of 28 complaints on […]
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