MANILA, Philippines — The Philippine economy contracted for the third straight quarter with the gross domestic product (GDP) shrinking by six percent from July to September as mobility restrictions were extended due to rising COVID-19 cases, according to Moody’s Analytics. In its latest Asia Pacific economic preview, the research arm of Moody’s Investors Service said […]
Read MoreMANILA, Philippines — Local vehicle and motorcycle production and sales were down from January to September, with demand still affected by the pandemic. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed the Philippines assembled 46,628 motor vehicles in the nine-month period, down 31.4 percent from 67,922 units in the same […]
Read MoreTHERE was a delightful quote being passed around the social media over the weekend in the wake of President-Elect Joe Biden’s victory over that thing who I will henceforth avoid addressing by name: “Try to live your life so the whole world doesn’t dance in the streets when you lose your job.” Along with spontaneous […]
Read MoreState statisticians on Monday lowered the official second quarter gross domestic product (GDP) contraction to -16.9 percent from the earlier -16.5 percent. “Major contributors to the revision were real estate and ownership of dwellings, from -20.1 percent to -29.7 percent; wholesale and retail trade; repair of motor vehicles from -13.1 percent to -13.9 percent; and […]
Read MoreSome of the country’s tycoons have lost weight. Their sleek suits and barongs now look a size bigger. They look stressed and tired, and it seems they’ve aged in just a few months. But how could they not? Their sprawling billion dollar empires are counting massive losses, unable to defy gravity, no thanks to COVID-19 and our […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) said the Philippines has fiscal space to provide more support to the economy amid the impact of the COVID-19 pandemic. Yongzheng Yang, IMF resident representative to the Philippines, told The STAR the country entered the pandemic with considerable policy buffers, including a level of public debt that […]
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