MANILA, Philippines — Port giant International Container Terminal Services, Inc. (ICTSI) opened 2021 in a high note after global trade resumed with the easing of quarantines, benefiting its logistics business. ICTSI recorded a first quarter net income of $102.3 million, 49% up year-on-year. This was due in part to busier port operations, particularly from its Americas business […]
Read MoreMANILA, Philippines — Fewer Filipinos were unemployed in March than a month ago, but some of those likely relegated back to joblessness last month when lockdowns returned and businesses shut down anew in key urban areas. The harsh reality underscores the calamitous impact of pandemic restrictions in livelihood as well as the fragility of an ongoing […]
Read MoreMANILA, Philippines — Inflation steadied at 4.5 percent in April despite the continued hike in meat prices as this was offset by lower costs in other food items, the Philippine Statistics Authority (PSA) said. In its latest report, the PSA said headline inflation the rate of increase in the consumer price index made up of […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has extended anew the zero spread on its peso rediscount loans by another three months to allow banks to tap the facility to meet their temporary liquidity needs. BSP Governor Benjamin Diokno said the Monetary Board approved the extension of the temporary measures in the rediscounting […]
Read MoreMANILA, Philippines — The annual pace of inflation was steady in April from March, a welcome stability coming off from an easing the prior month but one that analysts said remained vulnerable to future surges. For now, inflation at 4.5% year-on-year in April would remove some pressure from the Bangko Sentral ng Pilipinas (BSP) to […]
Read MoreMANILA, Philippines — The Philippines is urging Manila-based Asian Development Bank (ADB) to expand its loan portfolio in developing countries, including the Philippines, to help expedite economic recovery amid the pandemic. During the opening of the 54th Annual Meeting of the ADB Board of Governors, Finance Secretary Carlos Dominguez urged the multilateral lender to seriously […]
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