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Philippines: Gross debt swells to P2.56 trillion

MANILA, Philippines — Borrowings secured by the national government ballooned to P2.56 trillion from January to September as it ramped up its debt issuances and loan availments to fund coronavirus response measures, according to the Bureau of the Treasury (BTr). Based on BTr data, the national government’s gross borrowings from January to September surged by […]

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Philippines: FPI wants stricter rules on product standards

MANILA, Philippines — The country’s group of manufacturers is proposing stricter rules on product standards to protect consumers from substandard goods. Federation of Philippine Industries (FPI) chairman Jesus Arranza said there is a need for the Department of Trade and Industry (DTI) to have clearer and stricter provisions on products classified under mandatory and voluntary […]

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Philippines: Term deposit rates rise

MANILA, Philippines — Term deposit rates increased on strong demand from cash-rich banks as the Bangko Sentral ng Pilipinas (BSP) continued to suspend the offering of the 28-day tenor. BSP Deputy Governor Francisco Dakila Jr. said the yield of the seven-day tenor went up by 3.47 basis points to 1.8813 percent at the Term Deposit […]

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