MANILA, Philippines — Wholesale prices of building materials in Metro Manila continued to climb, rising at their fastest pace since the start of the pandemic last year, the Philippine Statistics Authority (PSA) said. The latest Construction Materials Wholesale Price Index (CMWPI), which is used as a reference in the costing of government projects, went up […]
Read MoreThe Philippine peso advanced to its strongest level in more than four years after exports revenues grew at their fastest pace in a decade. The peso rose for the sixth consecutive week, edging slightly by 4.5 bps this week to 47.81 per US dollar. The currency is among the steadiest performers in Asia this year, […]
Read MoreMANILA, Philippines — The Philippines continued to lag behind its Southeast Asian neighbors in motor vehicle production as tepid demand further trimmed output in the first quarter. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation showed the Philippines assembled 19,599 motor vehicles in the three months to March, down 13 percent from […]
Read MoreMANILA, Philippines — Listed cement manufacturer Eagle Cement Corp. recorded a double-digit earnings growth in the first quarter, as construction activities picked up after pandemic restrictions were eased. What’s new Eagle Cement registered profits of P1.7 billion in the first 3 months of the year, up 44% year-on-year, financial results obtained by Philstar.com showed. It was the company’s […]
Read MoreMANILA, Philippines — Money sent home by Filipinos abroad posted another month of growth in March, but mainly due to benefits of a low base that hardly tell a convincing recovery. What’s new Cash remittances coursed through banks rose 4.9% year-on-year in March to $2.5 billion, the Bangko Sentral ng Pilipinas (BSP) reported Monday. That increased the […]
Read MoreMANILA, Philippines — Proceeds from offshore bonds sold by the government stopped a three-month decline in the Philippines’ foreign reserves in April. Gross international reserves (GIR) rebounded to $107.25 billion as of the end of last month, up 2.65% from the previous month, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. Buffer funds are […]
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