MANILA, Philippines — Factory gate prices contracted sharply in January as COVID-19 restrictions affected demand nearly across the board, according to the Philippine Statistics Authority (PSA). Latest data from PSA showed that the Producer Price Index (PPI) declined by 5.3 percent, faster than the annual decline of 3.8 percent in December last year. It is […]
Read MoreMANILA, Philippines — Economies involved in public-private partnership should be mindful of the long-term impact to infrastructure projects as the pandemic has made it quite uncertain for PPP moving forward to the new normal. In its latest report, Manila-based Asian Development Bank (ADB) said PPP projects in Asia and the Pacific will require careful consideration […]
Read MoreMANILA, Philippines — Production of motor vehicles in the country remained in low gear in January as car assemblers keep their output aligned with consumer demand. In the case of motorcycles, however, production raced to double-digit growth in the same month, indicating stronger preference for the two-wheeled vehicle for business, work or personal travel needs. […]
Read MoreMANILA, Philippines — Total outstanding debt of the national government rose to a fresh high of P10.327 trillion in January as the state ramped up local borrowings to fund its pandemic responses. The Bureau of the Treasury reported yesterday that the national debt level during the month was 5.4 percent higher from the end-December 2020 […]
Read MoreMANILA, Philippines — The provisional safeguard duty imposed on imported vehicles is meant to support and protect the domestic manufacturing industry by encouraging consumers to buy locally manufactured cars, the Department of Trade and Industry (DTI) said yesterday. In a virtual briefing, Trade Secretary Ramon Lopez said the imposition of a provisional safeguard measure on […]
Read MoreMANILA, Philippines — The domestic banking sector managed to post a 6.9 percent growth in total assets despite the uncertainties brought about by the pandemic, according to the Bangko Sentral ng Pilipinas (BSP). Total resources of Philippine banks hit a record high of P20 trillion last year, P1.29 trillion higher than the P18.71 trillion recorded […]
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