SHARE prices of Philippine banks may have fallen but the domestic financial sector as a whole is expected to be minimally affected by the fallout from a US banking crisis, an industry group said on Tuesday. “The Bankers Association of the Philippines (BAP) assures the Filipino public that recent developments in the US financial system […]
Read MoreMANILA, Philippines — The country’s trade deficit continued to widen in January, as the country’s prized exports posted huge declines, which an analyst noted crimped the peso’s ascent at the start of the year. Data released by the Philippine Statistics Authority on Tuesday showed the trade deficit expanded 27.2% year-on-year to $5.74 billion in January. A […]
Read MoreMANILA, Philippines — Vehicle sales in the country continued to post double-digit growth in the first two months of the year. Latest data from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales reached 60,404 units in January and February, higher than the 45,069 […]
Read MoreMANILA, Philippines — Moody’s Analytics said elevated inflation is now eroding savings rates in Asia-Pacific, which surged through the pandemic, pushing rainy-day funds higher. In a commentary titled “Hey, Big Saver,” Moody’s Analytics said higher prices are denting the mass of household savings built through the pandemic. “With inflation still uncomfortably high across the region, […]
Read MoreMANILA, Philippines — The Philippines is ramping up efforts to push cross-border real-time payments with other members of the Association of Southeast Asian Nations (ASEAN), according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Mamerto Tangonan said the Philippines has begun policy and technical discussions with Malaysia to link the country’s InstaPay with DuitNow. […]
Read MoreMANILA, Philippines — Japanese investment bank Nomura expects the Philippines’ terminal rate hitting 6.75 percent, as stubbornly high inflation would prompt the Bangko Sentral ng Pilipinas (BSP) to deliver more interest rate increases. Nomura chief ASEAN economist Euben Paracuelles and analyst Rangga Cipta said the bank has raised its inflation forecast for the Philippines to […]
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