The Philippine peso is a standout among emerging market currencies (EM) this year. While many EM currencies weakened significantly against the US dollar on the back of rising US interest rates, the peso has been stable. Closing at 48.38 against the dollar last Friday, it is just 0.9 percent off its recent top of 47.93. […]
Read MoreMANILA, Philippines — Economists of private banks expect inflation to breach the upper end of the two to four percent target set by the Bangko Sentral ng Pilipinas (BSP) for this year amid supply disruptions and rising global crude oil prices. Zeno Ronald Abenoja, managing director of the BSP’s Department of Economic Research (DER), said […]
Read MoreMANILA, Philippines — Recent improvements in merchandise trade and manufacturing conditions indicate the first signs of economic recovery although it remains in a precarious position, according to the Department of Finance (DOF). Data from the Philippine Statistics Authority (PSA) showed merchandise trade regained lost ground, even if only marginally in February after imports, which are […]
Read MoreMANILA, Philippines — Bad debts are not yet done saddling Philippine banks this year with regulators told to expect them to rise to their highest level since at least 2008, crippling their ability to lend and exacerbating an economic downturn with no end in sight yet. The local banking industry is seeing non-performing loans (NPL), […]
Read MoreJapanese debt watcher also keeps ‘stable’ outlook on Philippines MANILA, Philippines — Tokyo-based Rating and Investment Information Inc. has affirmed the Philippines’ investment-grade credit rating of BBB+ and stable outlook, indicating a vote of confidence on the economy’s COVID-19 recovery and growth prospects over the medium term. The Japanese debt watcher said it recognized the […]
Read MoreMANILA, Philippines — Government agencies have signed the implementing guidelines for the safety seal certification to assure the public of business establishments and government offices’ compliance to the minimum public health standards set amid the pandemic. These include the departments of labor and employment, health, interior and local government, tourism and trade. “Through the safety […]
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