MANILA, Philippines — Term deposit rates eased further across the board ahead of the last rate-setting meeting of the Monetary Board for the year as banks continued to take short-term positions due to the Christmas holidays, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Francisco Dakila Jr. said the yield of the seven-day […]
Read MoreMANILA, Philippines — Vehicle sales declined 33 percent in November from a year ago amid typhoons that hit the country. The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said combined sales with the Truck Manufacturers Association (TMA) reached 23,162 units in November, lower than the 34,465 units in the same month a year […]
Read MoreMANILA, Philippines — Strong typhoons that slammed Luzon hurt demand for cars in November, pushing sales down back in the red and marking a major setback for the auto industry’s goal of hitting a watered down projection this year. Car and truck manufacturers sold 23,162 units in November, down 7.4% on a month-on-month basis, a joint report by […]
Read MoreHigher inflow for 2nd straight month in October MANILA, Philippines — Remittances increased for the second straight month in October as overseas Filipino workers (OFWs) continued to find a way to send their hard-earned money despite the challenges brought about by the pandemic, the Bangko Sentral ng Pilipinas (BSP) said yesterday. Based on BSP data, […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) continues to build up the country’s foreign exchange buffer, with the gross international reserves (GIR) hitting an all-time high of $104.51 billion in end-November from $103.8 billion in October. The BSP said the month-on-month increase in the GIR level reflected inflows mainly from the BSP’s foreign […]
Read MoreMANILA, Philippines — Delivery service companies in the country have been riding high since the onset of the pandemic, expanding their services and operations to meet the growing demand of customers and businesses. Companies like Grab, Lalamove and J&T Express have seen their brands turn into household names as they became the go-to partners of […]
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