MANILA, Philippines — Banks continued to impose tighter overall credit standards for real estate loans amid less favorable economic conditions and deterioration in borrowers’ profile due to the impact of the pandemic. Dennis Lapid, deputy director of the Department of Economic Research at the Bangko Sentral ng Pilipinas (BSP), said the results of the fourth […]
Read MoreMANILA, Philippines — Economic decline in the fourth quarter of 2020 likely continued to slow down, but nonetheless remained steep because of remaining restrictions, according to London-based Capital Economics. In a research paper issued over the weekend, the think tank said the Philippines’ fourth quarter 2020 gross domestic product (GDP) likely contracted by 8.5 percent […]
Read MoreMANILA, Philippines — Motor vehicle and motorcycle production, as well as sales in the Philippines, recorded a double-digit drop from January to November last year compared to a year ago on continued weak market demand due to the pandemic. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed motor vehicles assembled […]
Read MoreMANILA, Philippines — Tourism stakeholders are requesting for the deferment of the payment of local business taxes this year given the severe impact of the COVID-19 pandemic on the operations of the industry. In a letter to Department of the Interior and Local Government (DILG) Secretary Eduardo Año, Tourism Congress of the Philippines (TCP) president […]
Read MoreMANILA, Philippines — The Philippine construction industry is expected to enjoy double-digit growth this year as revived infrastructure projects are seen helping the country recover from the pandemic- induced recession, according to Fitch Solutions Country Risk & Industry Research. The research arm of the Fitch group said the Philippine construction sector would post a double-digit […]
Read MoreMANILA, Philippines — Philippine economic recovery from the coronavirus pandemic is expected to be slower than its peers in Southeast Asia, according to US-based investment bank Citigroup. Johanna Chua, managing director and head of Asia Pacific economy and market analysis at Citigroup, said it would take the Philippines until 2022 to recover from the pandemic. […]
Read More
Thailand
