MANILA, Philippines — Investments approved by the Philippine Economic Zone Authority (PEZA) surged 139 percent in January from a year ago. PEZA director general Charito Plaza said the agency approved projects worth P11.31 billion in January, up from P4.726 billion in the same month last year. The approved investments for January are for 24 projects. […]
Read MoreMANILA, Philippines — The ongoing shift to a cash-light from a cash-heavy economy could accelerate the recovery of the country from a pandemic-induced recession, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual press briefing, BSP Governor Benjamin Diokno said an empirical study showed that moving to a cashless model would have an […]
Read MoreMANILA, Philippines — Retail prices of construction materials in the national capital region accelerated in January, indicating a steady resumption of demand, the Philippine Statistics Authority (PSA) said. The Construction Materials Retail Price Index (CMRPI) in NCR rose at a faster clip of 1.2 percent in January 2021 from 0.7 percent last year. However, it […]
Read MoreMANILA, Philippines — The Philippines continues to fail in attracting foreign investors given its restrictive lockdown measures that discourage companies to pour in much-needed capital to revive the economy. Latest data from the Philippine Statistics Authority (PSA) showed that approved foreign investments plunged by 71 percent last year to P112.12 billion. In the fourth quarter, […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) will have to reassess the country’s economic target for the year after President Duterte decided to forgo a plan to put the Philippines under the most lenient quarantine status until mass vaccination has started. When sought for comment, acting Socioeconomic Planning Secretary Karl Chua said […]
Read MoreMANILA, Philippines — The Duterte administration is legally constrained from lowering pork import tariffs while Congress is in session, dealing a huge setback on the ongoing inflation fight and putting into question consumer relief pledged to be already underway. While already on his desk, a draft executive order allowing more pork imports cannot be signed […]
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