MANILA, Philippines — Local stocks reversed course yesterday, wiping out gains made in the past two sessions, as worries about inflation continue to dog the stock market. The benchmark Philippine Stock Exchange index (PSEi) gave up 38.84 points or 0.61 percent to close at 6,244.74, while the broader All Shares index lost 14.02 points or […]
Read MoreMANILA, Philippines — Japanese investment bank Nomura expects a 5.1 percent increase in remittances from overseas Filipino workers (OFWs) this year with the reopening of economies in host countries amid the continued rollout of COVID-19 vaccines. Euben Paracuelles, chief economist for Southeast Asia at Nomura, said the projected growth in remittances reflects low base effects […]
Read MoreMANILA, Philippines — Headline inflation in the Philippines and other parts of Asia may peak in the middle of the year but may remain subdued due to nascent economic recoveries in the region, according to Moody’s Analytics. “We expect that underlying inflation will remain subdued in the Philippines and across most parts of Asia this […]
Read MoreMANILA, Philippines — Soaring inflation is not deterring Filipinos from consuming more meat, a diet shift that also includes healthier options of fish, fruits and vegetables that are becoming more affordable with higher disposable incomes. At present, the phenomenon helps explain the devastating impact of a pestering pork shortage and the higher retail prices it brings and […]
Read MoreMANILA, Philippines — The Philippines’ financial industry is modestly susceptible to getting used for criminal activities, including money laundering and plunder, raising the specter for further defenses in the fast-growing sector. Corporate regulators see a “medium risk” of crime penetrating the financial sector based on an assessment of 304 players including investment houses, dealers and brokers that […]
Read MoreMANILA (CNA) – Philippines President Rodrigo Duterte reduced the tariff for imported rice on Saturday to ensure food security and protect consumers in the world’s biggest importer of the grain. The Southeast Asian nation, which is battling elevated inflation, took into consideration the increase in global rice prices and uncertainties in local rice supply, the […]
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