MANILA, Philippines — Automotive assemblers saw their highest monthly sales in October since the start of the pandemic, but the figures were still down 27 percent from a year ago as both passenger cars (PC) and commercial vehicles (CV) registered declines. The joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers […]
Read MoreMANILA, Philippines — The central banks of the Philippines and Singapore agreed to address cybersecurity and other risks with the increasing use of technology to supply financial services amid the global health pandemic. The Bangko Sentral ng Pilipinas (BSP) and The Monetary Authority of Singapore (MAS) recognize that the ability to aggregate, store, process and […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers bounced backed strongly in September, recording the fastest growth in 29 months as OFWs scrambled to send more money to their loved ones in the country during the ‘ber’ months in preparation for the Christmas holidays, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno […]
Read MoreThe big news on the sidelines of the closing session of the annual meeting of the 10-nation Association of Southeast Asian Nations (ASEAN) last Sunday was the virtual signing of the Regional Comprehensive Economic Partnership (RCEP), resulting in the creation of the largest free trade bloc in the world. It’s considered a powerful trade alliance […]
Read MoreIn 9 months MANILA, Philippines — The country’s budget deficit as a percentage of gross domestic product (GDP) swelled to 6.9 percent from January to September due to higher expenditures in response to the coronavirus pandemic, according to the Department of Finance (DOF). In his latest economic bulletin, Finance Undersecretary and chief economist Gil Beltran […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may extend its prudent pause by keeping interest rates unchanged anew on Thursday, but could deliver a surprise to support the pandemic-battered economy, according to analysts. ING Bank Manila senior economist Nicholas Mapa said there is a chance for a surprise move by the Monetary Board […]
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